Investors Will Want Swancor Advanced Materials' (SHSE:688585) Growth In ROCE To Persist
Investors Will Want Swancor Advanced Materials' (SHSE:688585) Growth In ROCE To Persist
What are the early trends we should look for to identify a stock that could 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. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. With that in mind, we've noticed some promising trends at Swancor Advanced Materials (SHSE:688585) so let's look a bit deeper.
我們應該尋找哪些早期趨勢來確定一隻可能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。這向我們表明,它是一臺複合機器,能夠持續將其收益再投資到業務中併產生更高的回報。考慮到這一點,我們注意到Swancor Advanced Materials(SHSE: 688585)的一些令人鼓舞的趨勢,所以讓我們更深入地了解一下。
Return On Capital Employed (ROCE): What Is It?
資本使用回報率(ROCE):這是什麼?
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 Swancor Advanced Materials, 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 Swancor 先進材料的這個指標,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)
0.094 = CN¥112m ÷ (CN¥1.7b - CN¥508m) (Based on the trailing twelve months to September 2023).
0.094 = 1.12億元人民幣 ÷(17億元人民幣-5.08億元人民幣) (基於截至2023年9月的過去十二個月)。
Therefore, Swancor Advanced Materials has an ROCE of 9.4%. In absolute terms, that's a low return, but it's much better than the Chemicals industry average of 5.6%.
因此,Swancor Advanced Materials的投資回報率爲9.4%。從絕對值來看,回報率很低,但遠好於化工行業平均水平的5.6%。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240207/0-9790180d349eefc5233cceb4ae648429-0-435e6ba85cdd1c9511ee3bce6beb1633.png/big)
While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you want to delve into the historical earnings, revenue and cash flow of Swancor Advanced Materials, check out these free graphs here.
雖然過去並不能代表未來,但了解一家公司的歷史表現可能會有所幫助,這就是我們上面有這張圖表的原因。如果您想深入了解Swancor Advanced Materials的歷史收益、收入和現金流,請在此處查看這些免費圖表。
How Are Returns Trending?
退貨趨勢如何?
While in absolute terms it isn't a high ROCE, it's promising to see that it has been moving in the right direction. Over the last five years, returns on capital employed have risen substantially to 9.4%. The amount of capital employed has increased too, by 51%. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers.
儘管從絕對值來看,它並不是一個很高的投資回報率,但它有望看到它一直在朝着正確的方向前進。在過去五年中,已動用資本回報率大幅上升至9.4%。使用的資本金額也增加了51%。這可能表明,內部有很多機會以更高的利率進行資本投資,這種組合在多袋公司中很常見。
The Bottom Line On Swancor Advanced Materials' ROCE
Swancor Advanced Materials 投資回報率的底線
To sum it up, Swancor Advanced Materials has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. Given the stock has declined 54% in the last three years, this could be a good investment if the valuation and other metrics are also appealing. That being the case, research into the company's current valuation metrics and future prospects seems fitting.
總而言之,Swancor Advanced Materials已經證明它可以對業務進行再投資,並從所使用的資本中獲得更高的回報,這太棒了。鑑於該股在過去三年中下跌了54%,如果估值和其他指標也具有吸引力,這可能是一項不錯的投資。既然如此,對公司當前估值指標和未來前景的研究似乎很合適。
While Swancor Advanced Materials looks impressive, no company is worth an infinite price. The intrinsic value infographic in our free research report helps visualize whether 688585 is currently trading for a fair price.
儘管Swancor Advanced Materials看起來令人印象深刻,但沒有一家公司值得無限的代價。我們的免費研究報告中的內在價值信息圖有助於可視化688585目前的交易價格是否合理。
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。