Sichuan Development Lomon (SZSE:002312) Might Have The Makings Of A Multi-Bagger
Sichuan Development Lomon (SZSE:002312) Might Have The Makings Of A Multi-Bagger
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Speaking of which, we noticed some great changes in Sichuan Development Lomon's (SZSE:002312) returns on capital, so let's have a look.
我們應該尋找哪些趨勢?我們想確定可以長期價值成倍增長的股票?理想情況下,企業將表現出兩種趨勢;首先是增長 返回 論資本使用率(ROCE),其次是增加 金額 所用資本的比例。基本上,這意味着公司擁有可以繼續進行再投資的盈利計劃,這是複合機器的特徵。說到這裏,我們注意到四川發展龍門(SZSE:002312)的資本回報率發生了一些很大的變化,所以我們來看看吧。
Return On Capital Employed (ROCE): What Is It?
資本使用回報率(ROCE):這是什麼?
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. The formula for this calculation on Sichuan Development Lomon is:
爲了澄清一下你是否不確定,ROCE是評估公司從投資於其業務的資本中獲得多少稅前收入(按百分比計算)的指標。四川發展龍紋的計算公式爲:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已動用資本回報率 = 息稅前收益 (EBIT) ¥(總資產-流動負債)
0.035 = CN¥442m ÷ (CN¥17b - CN¥4.1b) (Based on the trailing twelve months to September 2023).
0.035 = 4.42億元人民幣 ÷(17億元人民幣-41億元人民幣) (基於截至2023年9月的過去十二個月)。
Therefore, Sichuan Development Lomon has an ROCE of 3.5%. Ultimately, that's a low return and it under-performs the Chemicals industry average of 5.5%.
因此,四川發展龍蒙的投資回報率爲3.5%。歸根結底,這是一個低迴報,其表現低於化工行業5.5%的平均水平。
Check out our latest analysis for Sichuan Development Lomon
查看我們對四川發展龍蒙的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240108/0-bf2e064cb4fb6ac9ef9ea4227bb0ff94-0-9a168862667c55aa94dfce934eb4d547.png/big)
In the above chart we have measured Sichuan Development Lomon's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Sichuan Development Lomon.
在上圖中,我們將四川發展龍目先前的投資回報率與之前的表現進行了對比,但可以說,未來更爲重要。如果你想了解分析師對未來的預測,你應該查看我們爲四川發展龍蒙提供的免費報告。
The Trend Of ROCE
ROCE 的趨勢
Sichuan Development Lomon has recently broken into profitability so their prior investments seem to be paying off. The company was generating losses five years ago, but now it's earning 3.5% which is a sight for sore eyes. And unsurprisingly, like most companies trying to break into the black, Sichuan Development Lomon is utilizing 272% more capital than it was five years ago. This can tell us that the company has plenty of reinvestment opportunities that are able to generate higher returns.
四川發展龍蒙最近實現盈利,因此他們先前的投資似乎正在獲得回報。該公司五年前出現虧損,但現在的收益爲3.5%,這真是令人眼花繚亂。毫不奇怪,與大多數試圖進入黑市的公司一樣,四川發展龍蒙的資本使用量比五年前增加了272%。這可以告訴我們,該公司有大量的再投資機會,能夠產生更高的回報。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Essentially the business now has suppliers or short-term creditors funding about 24% of its operations, which isn't ideal. It's worth keeping an eye on this because as the percentage of current liabilities to total assets increases, some aspects of risk also increase.
順便說一句,我們注意到,投資回報率的改善似乎部分是由流動負債的增加推動的。從本質上講,該企業現在有供應商或短期債權人爲其約24%的業務提供資金,這並不理想。值得關注這個問題,因爲隨着流動負債佔總資產的百分比的增加,風險的某些方面也會增加。
The Bottom Line On Sichuan Development Lomon's ROCE
四川發展的底線 Lomon 的 ROCE
In summary, it's great to see that Sichuan Development Lomon has managed to break into profitability and is continuing to reinvest in its business. And a remarkable 108% total return over the last five years tells us that investors are expecting more good things to come in the future. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
總而言之,很高興看到四川發展龍蒙成功實現盈利並繼續對其業務進行再投資。過去五年中驚人的108%總回報率告訴我們,投資者預計未來還會有更多好事發生。話雖如此,我們仍然認爲前景良好的基本面意味着公司值得進一步的盡職調查。
On a final note, we found 3 warning signs for Sichuan Development Lomon (1 doesn't sit too well with us) you should be aware of.
最後,我們發現了你應該注意的 3 個四川發展龍蟒警示信號(1 個對我們來說不太合適)。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
對於那些喜歡投資穩健公司的人,可以查看這份資產負債表穩健和股本回報率高的公司的免費清單。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。