Jiangsu Sainty (SHSE:600287) Is Doing The Right Things To Multiply Its Share Price
Jiangsu Sainty (SHSE:600287) Is Doing The Right Things To Multiply Its Share Price
If you're looking for a multi-bagger, there's a few things to keep an eye out for. 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. So when we looked at Jiangsu Sainty (SHSE:600287) and its trend of ROCE, we really liked what we saw.
如果你正在尋找一款多功能裝袋機,有幾件事需要注意。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。因此,當我們研究江蘇舜天(上海證券交易所代碼:600287)及其投資回報率的趨勢時,我們真的很喜歡我們所看到的。
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 Jiangsu Sainty, 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。要計算江蘇舜天的這個指標,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)
0.081 = CN¥170m ÷ (CN¥3.7b - CN¥1.7b) (Based on the trailing twelve months to September 2023).
0.081 = 1.7億元人民幣 ÷(37億元人民幣-17億元人民幣) (基於截至2023年9月的過去十二個月)。
So, Jiangsu Sainty has an ROCE of 8.1%. In absolute terms, that's a low return but it's around the Trade Distributors industry average of 7.3%.
因此,江蘇舜天的投資回報率爲8.1%。從絕對值來看,回報率很低,但約爲貿易分銷商行業的平均水平7.3%。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240203/0-333e04bd849d3d85cccc6ff11c331752-0-b5ca6757b373cf2f1963d4aa8436ab65.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Jiangsu Sainty's ROCE against it's prior returns. If you want to delve into the historical earnings, revenue and cash flow of Jiangsu Sainty, check out these free graphs here.
歷史表現是研究股票的絕佳起點,因此在上方您可以看到江蘇舜天投資回報率與先前回報率對比的指標。如果您想深入了解江蘇舜天的歷史收益、收入和現金流,請在此處查看這些免費圖表。
So How Is Jiangsu Sainty's ROCE Trending?
那麼江蘇舜天的 ROCE 走勢如何?
Jiangsu Sainty is showing promise given that its ROCE is trending up and to the right. Looking at the data, we can see that even though capital employed in the business has remained relatively flat, the ROCE generated has risen by 98% over the last five years. So it's likely that the business is now reaping the full benefits of its past investments, since the capital employed hasn't changed considerably. It's worth looking deeper into this though because while it's great that the business is more efficient, it might also mean that going forward the areas to invest internally for the organic growth are lacking.
鑑於其投資回報率呈上升和向右傾斜的趨勢,江蘇舜天表現出希望。從數據來看,我們可以看到,儘管該業務中使用的資本保持相對平穩,但在過去五年中,產生的投資回報率增長了98%。因此,由於所使用的資本沒有太大變化,該企業現在很可能正在從過去的投資中獲得全部收益。但是,值得更深入地研究這個問題,因爲儘管提高業務效率是件好事,但這也可能意味着未來缺乏內部投資以實現有機增長的領域。
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 44% of its operations, which isn't ideal. And with current liabilities at those levels, that's pretty high.
順便說一句,我們注意到,投資回報率的改善似乎在一定程度上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44%的業務提供資金,這並不理想。而且,在流動負債處於這些水平的情況下,這個數字相當高。
In Conclusion...
總之...
To sum it up, Jiangsu Sainty is collecting higher returns from the same amount of capital, and that's impressive. Investors may not be impressed by the favorable underlying trends yet because over the last five years the stock has only returned 4.1% to shareholders. Given that, we'd look further into this stock in case it has more traits that could make it multiply in the long term.
總而言之,江蘇舜天正在從相同數量的資本中獲得更高的回報,這令人印象深刻。有利的潛在趨勢可能還不會給投資者留下深刻的印象,因爲在過去五年中,該股向股東的回報率僅爲4.1%。有鑑於此,我們將進一步研究這隻股票,以防它具有更多可以使其長期成倍增長的特徵。
Jiangsu Sainty does come with some risks though, we found 3 warning signs in our investment analysis, and 2 of those can't be ignored...
不過,江蘇舜天確實存在一些風險,我們在投資分析中發現了3個警告信號,其中2個不容忽視...
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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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。