Inmyshow Digital Technology(Group)Co.Ltd's (SHSE:600556) Returns On Capital Not Reflecting Well On The Business
Inmyshow Digital Technology(Group)Co.Ltd's (SHSE:600556) Returns On Capital Not Reflecting Well On The Business
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. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. In light of that, when we looked at Inmyshow Digital Technology(Group)Co.Ltd (SHSE:600556) and its ROCE trend, we weren't exactly thrilled.
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。歸根結底,這表明這是一家以不斷提高的回報率對利潤進行再投資的企業。有鑑於此,當我們查看Inmyshow數字科技(集團)有限公司(上海證券交易所代碼:600556)及其投資回報率趨勢時,我們並不感到非常興奮。
What Is Return On Capital Employed (ROCE)?
什麼是資本使用回報率(ROCE)?
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. To calculate this metric for Inmyshow Digital Technology(Group)Co.Ltd, this is the formula:
對於那些不知道的人來說,ROCE是衡量公司年度稅前利潤(其回報率)的指標,相對於該業務使用的資本。要計算Inmyshow數字科技(集團)有限公司的這一指標,公式如下:
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)
0.04 = CN¥153m ÷ (CN¥5.8b - CN¥1.9b) (Based on the trailing twelve months to September 2023).
0.04 = 1.53億元人民幣 ÷(58億元人民幣——19億元人民幣) (基於截至2023年9月的過去十二個月)。
Thus, Inmyshow Digital Technology(Group)Co.Ltd has an ROCE of 4.0%. In absolute terms, that's a low return but it's around the Media industry average of 4.9%.
因此,Inmyshow數字科技(集團)有限公司的投資回報率爲4.0%。從絕對值來看,回報率很低,但約爲媒體行業的平均水平4.9%。
View our latest analysis for Inmyshow Digital Technology(Group)Co.Ltd
查看我們對 Inmyshow 數字科技(集團)有限公司的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240122/0-2941c410e79ad35371afbec56d610576-0-0e6369631551a8675319093bc58b40fb.png/big)
In the above chart we have measured Inmyshow Digital Technology(Group)Co.Ltd'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 Inmyshow Digital Technology(Group)Co.Ltd.
在上圖中,我們將Inmyshow數字科技(集團)有限公司先前的投資回報率與先前的業績進行了對比,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Inmyshow Digital Technology(集團)有限公司提供的免費報告。
So How Is Inmyshow Digital Technology(Group)Co.Ltd's ROCE Trending?
那麼Inmyshow數字科技(集團)有限公司的投資回報率趨勢如何呢?
When we looked at the ROCE trend at Inmyshow Digital Technology(Group)Co.Ltd, we didn't gain much confidence. To be more specific, ROCE has fallen from 21% over the last five years. On the other hand, the company has been employing more capital without a corresponding improvement in sales in the last year, which could suggest these investments are longer term plays. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
當我們查看Inmyshow數字科技(集團)有限公司的投資回報率趨勢時,我們並沒有獲得太大的信心。更具體地說,投資回報率已從過去五年的21%下降。另一方面,該公司在去年一直在使用更多資本,但銷售額沒有相應改善,這可能表明這些投資是長期投資。從現在起,值得關注公司的收益,看看這些投資最終是否確實爲利潤做出了貢獻。
While on the subject, we noticed that the ratio of current liabilities to total assets has risen to 33%, which has impacted the ROCE. If current liabilities hadn't increased as much as they did, the ROCE could actually be even lower. While the ratio isn't currently too high, it's worth keeping an eye on this because if it gets particularly high, the business could then face some new elements of risk.
在這個問題上,我們注意到流動負債佔總資產的比率已上升至33%,這影響了投資回報率。如果流動負債沒有像以前那樣增加,投資回報率實際上可能會更低。儘管該比率目前還不太高,但值得關注,因爲如果該比率變得特別高,則業務可能會面臨一些新的風險因素。
What We Can Learn From Inmyshow Digital Technology(Group)Co.Ltd's ROCE
我們可以從Inmyshow數字科技(集團)有限公司的ROCE中學到什麼
To conclude, we've found that Inmyshow Digital Technology(Group)Co.Ltd is reinvesting in the business, but returns have been falling. And in the last three years, the stock has given away 59% so the market doesn't look too hopeful on these trends strengthening any time soon. On the whole, we aren't too inspired by the underlying trends and we think there may be better chances of finding a multi-bagger elsewhere.
總而言之,我們發現Inmyshow數字科技(集團)有限公司正在對該業務進行再投資,但回報率一直在下降。在過去的三年中,該股已經下跌了59%,因此市場對這些趨勢在短期內走強似乎並不抱太大希望。總的來說,我們對潛在趨勢的啓發不大,我們認爲在其他地方找到多袋裝機的可能性更大。
On a final note, we've found 2 warning signs for Inmyshow Digital Technology(Group)Co.Ltd that we think you should be aware of.
最後,我們發現了Inmyshow數字科技(集團)有限公司的兩個警告信號,我們認爲你應該注意這些信號。
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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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。