Some Investors May Be Worried About OPT Machine Vision Tech's (SHSE:688686) Returns On Capital
Some Investors May Be Worried About OPT Machine Vision Tech's (SHSE:688686) Returns On Capital
There are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing 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. Although, when we looked at OPT Machine Vision Tech (SHSE:688686), it didn't seem to tick all of these boxes.
如果我們想確定下一個多功能裝袋機,有一些關鍵趨勢需要關注。一種常見的方法是嘗試找一家公司 回報 論資本使用率(ROCE)在增加的同時增長 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。但是,當我們研究OPT機器視覺技術(SHSE: 688686)時,它似乎並沒有勾選所有這些方框。
Understanding Return On Capital Employed (ROCE)
了解資本使用回報率 (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 OPT Machine Vision Tech, 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OPT機器視覺技術的這個指標,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)
0.079 = CN¥231m ÷ (CN¥3.1b - CN¥196m) (Based on the trailing twelve months to September 2023).
0.079 = 2.31億元人民幣 ÷(31億元人民幣-1.96億元人民幣) (基於截至2023年9月的過去十二個月)。
Thus, OPT Machine Vision Tech has an ROCE of 7.9%. On its own that's a low return, but compared to the average of 5.0% generated by the Electronic industry, it's much better.
因此,OPT機器視覺技術的投資回報率爲7.9%。就其本身而言,回報率很低,但與電子行業平均5.0%的回報率相比,要好得多。
Check out our latest analysis for OPT Machine Vision Tech
查看我們對 OPT 機器視覺技術的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240127/0-e04e40634bfa5737e258820183317387-0-3b0352b3b6a6a3e324da08814a189473.png/big)
Above you can see how the current ROCE for OPT Machine Vision Tech compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering OPT Machine Vision Tech here for free.
在上面你可以看到OPT機器視覺技術當前的投資回報率與其先前的資本回報率相比如何,但從過去可以看出來的只有那麼多。如果你願意,可以在這裏免費查看報道OPT機器視覺技術的分析師的預測。
What The Trend Of ROCE Can Tell Us
ROCE 的趨勢能告訴我們什麼
When we looked at the ROCE trend at OPT Machine Vision Tech, we didn't gain much confidence. Around five years ago the returns on capital were 43%, but since then they've fallen to 7.9%. However it looks like OPT Machine Vision Tech might be reinvesting for long term growth because while capital employed has increased, the company's sales haven't changed much in the last 12 months. It may take some time before the company starts to see any change in earnings from these investments.
當我們觀察OPT機器視覺科技的投資回報率趨勢時,我們並沒有獲得太大的信心。大約五年前,資本回報率爲43%,但此後已降至7.9%。但是,看來OPT Machine Vision Tech可能正在進行再投資以實現長期增長,因爲儘管動用資本有所增加,但該公司的銷售額在過去12個月中沒有太大變化。公司可能需要一段時間才能開始看到這些投資的收益發生任何變化。
On a side note, OPT Machine Vision Tech has done well to pay down its current liabilities to 6.3% of total assets. That could partly explain why the ROCE has dropped. What's more, this can reduce some aspects of risk to the business because now the company's suppliers or short-term creditors are funding less of its operations. Some would claim this reduces the business' efficiency at generating ROCE since it is now funding more of the operations with its own money.
順便說一句,OPT機器視覺技術在將其流動負債償還至總資產的6.3%方面做得很好。這可以部分解釋投資回報率下降的原因。更重要的是,這可以降低業務風險的某些方面,因爲現在公司的供應商或短期債權人爲其運營提供的資金減少了。有人會聲稱這降低了企業產生投資回報率的效率,因爲該公司現在正在用自己的資金爲更多的業務提供資金。
In Conclusion...
總之...
To conclude, we've found that OPT Machine Vision Tech is reinvesting in the business, but returns have been falling. And investors appear hesitant that the trends will pick up because the stock has fallen 64% in the last three years. 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OPT機器視覺技術正在對該業務進行再投資,但回報率一直在下降。投資者似乎對趨勢能否回升猶豫不決,因爲該股在過去三年中下跌了64%。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。
OPT Machine Vision Tech does have some risks though, and we've spotted 2 warning signs for OPT Machine Vision Tech that you might be interested in.
但是,OPT機器視覺技術確實存在一些風險,我們已經發現了兩個你可能會感興趣的OPT機器視覺技術的警告信號。
While OPT Machine Vision Tech isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
儘管OPT Machine Vision Tech的回報率並不高,但請查看這份免費清單,列出了資產負債表穩健的股本回報率高的公司。
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