Investors Could Be Concerned With Konfoong Materials International's (SZSE:300666) Returns On Capital
Investors Could Be Concerned With Konfoong Materials International's (SZSE:300666) Returns On Capital
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base 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. Having said that, from a first glance at Konfoong Materials International (SZSE:300666) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
你知道有一些財務指標可以爲潛在的多袋裝袋者提供線索嗎?首先,我們希望看到經過驗證的 返回 關於正在增加的資本使用率(ROCE),其次是擴大 基礎 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。話雖如此,乍一看建豐材料國際(深圳證券交易所代碼:300666),我們並不是對回報趨勢不屑一顧,但讓我們更深入地了解一下。
What Is Return On Capital Employed (ROCE)?
什麼是資本使用回報率(ROCE)?
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. The formula for this calculation on Konfoong Materials International is:
對於那些不確定ROCE是什麼的人,它衡量的是公司從其業務中使用的資本中可以產生的稅前利潤金額。Konfoong Materials International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)
0.052 = CN¥256m ÷ (CN¥5.7b - CN¥760m) (Based on the trailing twelve months to September 2023).
0.052 = 2.56億元人民幣 ÷(57億元人民幣-7.6億元人民幣) (基於截至2023年9月的過去十二個月)。
So, Konfoong Materials International has an ROCE of 5.2%. On its own that's a low return, but compared to the average of 4.2% generated by the Semiconductor industry, it's much better.
因此,Konfoong Materials International的投資回報率爲5.2%。這本身就是一個很低的回報,但與半導體行業4.2%的平均回報率相比,要好得多。
See our latest analysis for Konfoong Materials International
查看我們對江豐材料國際的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240128/0-5f72b2b610ff08f9505ba278c421d67f-0-694cf168da51ee9886f8ead7bbdbca1b.png/big)
In the above chart we have measured Konfoong Materials International'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 Konfoong Materials International.
在上圖中,我們將Konfoong Materials International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,你應該查看我們的Konfoong Materials Internationals的免費報告。
What Does the ROCE Trend For Konfoong Materials International Tell Us?
Konfoong Materials International的ROCE趨勢告訴我們什麼?
On the surface, the trend of ROCE at Konfoong Materials International doesn't inspire confidence. Around five years ago the returns on capital were 10%, but since then they've fallen to 5.2%. However, given capital employed and revenue have both increased it appears that the business is currently pursuing growth, at the consequence of short term returns. If these investments prove successful, this can bode very well for long term stock performance.
從表面上看,Konfoong Materials International的投資回報率趨勢並不能激發信心。大約五年前,資本回報率爲10%,但此後已降至5.2%。但是,鑑於已動用資本和收入均有所增加,由於短期回報,該業務目前似乎正在追求增長。如果這些投資被證明是成功的,這對長期股票表現來說是個好兆頭。
On a related note, Konfoong Materials International has decreased its current liabilities to 13% 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.
與此相關的是,Konfoong Materials International已將其流動負債減少至總資產的13%。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...
Even though returns on capital have fallen in the short term, we find it promising that revenue and capital employed have both increased for Konfoong Materials International. In light of this, the stock has only gained 28% over the last five years. So this stock may still be an appealing investment opportunity, if other fundamentals prove to be sound.
儘管短期內資本回報率有所下降,但我們認爲前景樂觀的是,Konfoong Materials Internationals的收入和使用的資本均有所增加。有鑑於此,該股在過去五年中僅上漲了28%。因此,如果其他基本面被證明是合理的,那麼這隻股票可能仍然是一個有吸引力的投資機會。
Konfoong Materials International could be trading at an attractive price in other respects, so you might find our free intrinsic value estimation on our platform quite valuable.
Konfoong Materials Internationals在其他方面可能以誘人的價格進行交易,因此您可能會發現我們在我們平台上的免費內在價值估算非常有價值。
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
如果你想尋找收益豐厚的穩健公司,可以免費查看這份資產負債表良好且股本回報率可觀的公司名單。
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對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
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。