Jingjin Equipment (SHSE:603279) Knows How To Allocate Capital Effectively
Jingjin Equipment (SHSE:603279) Knows How To Allocate Capital Effectively
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. And in light of that, the trends we're seeing at Jingjin Equipment's (SHSE:603279) look very promising so lets take a 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?除其他外,我們希望看到兩件事;首先,成長 返回 論資本使用率(ROCE),其次是公司的擴張 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,我們在精進裝備(SHSE: 603279)看到的趨勢看起來非常有希望,所以讓我們來看看吧。
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. The formula for this calculation on Jingjin Equipment is:
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。在京津裝備上進行此計算的公式爲:
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)
0.28 = CN¥1.2b ÷ (CN¥8.6b - CN¥4.2b) (Based on the trailing twelve months to September 2023).
0.28 = 12億元人民幣 ÷(86億元人民幣-42億元人民幣) (基於截至2023年9月的過去十二個月)。
So, Jingjin Equipment has an ROCE of 28%. That's a fantastic return and not only that, it outpaces the average of 6.1% earned by companies in a similar industry.
因此,精進裝備的投資回報率爲28%。這是一個了不起的回報,不僅如此,它還超過了同類行業公司6.1%的平均收入。
See our latest analysis for Jingjin Equipment
查看我們對精進設備的最新分析
Above you can see how the current ROCE for Jingjin Equipment compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Jingjin Equipment.
上面你可以看到精進裝備當前的投資回報率與之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。如果你想了解分析師對未來的預測,你應該查看我們的精進設備免費報告。
The Trend Of ROCE
ROCE 的趨勢
We like the trends that we're seeing from Jingjin Equipment. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 28%. Basically the business is earning more per dollar of capital invested and in addition to that, 120% more capital is being employed now too. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
我們喜歡精進設備所看到的趨勢。數字顯示,在過去五年中,所用資本的回報率已大幅增長至28%。基本上,企業每投資1美元的資本就能獲得更多的收入,除此之外,現在使用的資本也增加了120%。越來越多的資本回報率不斷增加是多包商的常見現象,這就是爲什麼我們印象深刻的原因。
On a separate but related note, it's important to know that Jingjin Equipment has a current liabilities to total assets ratio of 49%, which we'd consider pretty high. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.
另一方面,重要的是要知道精進設備的流動負債與總資產的比率爲49%,我們認爲這個比率相當高。這實際上意味着供應商(或短期債權人)正在爲業務的很大一部分提供資金,因此請注意,這可能會帶來一些風險因素。雖然這不一定是壞事,但如果這個比率較低,可能會有好處。
Our Take On Jingjin Equipment's ROCE
我們對精進裝備投資回報率的看法
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what Jingjin Equipment has. And with a respectable 54% awarded to those who held the stock over the last three years, you could argue that these developments are starting to get the attention they deserve. In light of that, we think it's worth looking further into this stock because if Jingjin Equipment can keep these trends up, it could have a bright future ahead.
一家資本回報率不斷提高且能夠持續對自己進行再投資的公司是一個備受追捧的特徵,而這正是精進裝備所具備的。而且,在過去三年中持有該股票的人將獲得可觀的54%的獎勵,你可以說這些發展已開始得到應有的關注。有鑑於此,我們認爲值得進一步研究這隻股票,因爲如果精進裝備能夠保持這些趨勢,它的前途可能會很光明。
One more thing: We've identified 2 warning signs with Jingjin Equipment (at least 1 which shouldn't be ignored) , and understanding them would certainly be useful.
還有一件事:我們已經確定了精進裝備的2個警告標誌(至少有1個不容忽視),了解它們肯定會很有用。
If you want to search for more stocks that have been earning high returns, check out this free list of stocks with solid balance sheets that are also earning high returns on equity.
如果你想搜索更多獲得高回報的股票,可以查看這份資產負債表穩健且淨資產回報率也很高的股票的免費清單。
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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。