Some Investors May Be Worried About Guangdong Hongtu Technology (Holdings)Ltd's (SZSE:002101) Returns On Capital
Some Investors May Be Worried About Guangdong Hongtu Technology (Holdings)Ltd's (SZSE:002101) Returns On Capital
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Having said that, from a first glance at Guangdong Hongtu Technology (holdings)Ltd (SZSE:002101) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
如果我們想找到一隻可以長期成倍增長的股票,我們應該尋找哪些潛在趨勢?首先,我們想找一個正在成長的 返回 關於已用資本(ROCE),然後除此之外,還不斷增加 基礎 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。話雖如此,乍一看廣東宏圖科技(控股)有限公司(深圳證券交易所:002101),我們並不是對回報的趨勢不屑一顧,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. To calculate this metric for Guangdong Hongtu Technology (holdings)Ltd, this is the formula:
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。要計算廣東宏圖科技(控股)有限公司的這一指標,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)
0.052 = CN¥443m ÷ (CN¥12b - CN¥3.7b) (Based on the trailing twelve months to September 2023).
0.052 = 4.43億元人民幣 ÷(12億元人民幣-37億元人民幣) (基於截至2023年9月的過去十二個月)。
Therefore, Guangdong Hongtu Technology (holdings)Ltd has an ROCE of 5.2%. In absolute terms, that's a low return but it's around the Machinery industry average of 6.1%.
因此,廣東宏圖科技(控股)有限公司的投資回報率爲5.2%。從絕對值來看,回報率很低,但約爲機械行業的平均水平6.1%。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240212/0-24d6a8da4723e36342b4b7368b0dfbfc-0-dcd466c692e0c4c6387c02fc357d15e9.png/big)
In the above chart we have measured Guangdong Hongtu Technology (holdings)Ltd'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 Guangdong Hongtu Technology (holdings)Ltd.
在上圖中,我們將廣東宏圖科技(控股)有限公司之前的投資回報率與之前的業績進行了對比,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,你應該查看我們爲廣東宏圖科技(控股)有限公司提供的免費報告。
What Does the ROCE Trend For Guangdong Hongtu Technology (holdings)Ltd Tell Us?
廣東宏圖科技(控股)有限公司的投資回報率趨勢告訴我們什麼?
We weren't thrilled with the trend because Guangdong Hongtu Technology (holdings)Ltd's ROCE has reduced by 50% over the last five years, while the business employed 62% more capital. Usually this isn't ideal, but given Guangdong Hongtu Technology (holdings)Ltd conducted a capital raising before their most recent earnings announcement, that would've likely contributed, at least partially, to the increased capital employed figure. It's unlikely that all of the funds raised have been put to work yet, so as a consequence Guangdong Hongtu Technology (holdings)Ltd might not have received a full period of earnings contribution from it.
我們對這一趨勢並不感到興奮,因爲廣東宏圖科技(控股)有限公司的投資回報率在過去五年中下降了50%,而該業務使用的資本增加了62%。通常,這並不理想,但鑑於廣東宏圖科技(控股)有限公司在發佈最新業績之前進行了融資,這可能至少部分地促進了使用資本的增加。籌集的所有資金還不太可能全部投入使用,因此,廣東宏圖科技(控股)有限公司可能沒有從中獲得完整的收益繳款。
The Bottom Line
底線
To conclude, we've found that Guangdong Hongtu Technology (holdings)Ltd is reinvesting in the business, but returns have been falling. Since the stock has gained an impressive 58% over the last five years, investors must think there's better things to come. Ultimately, if the underlying trends persist, we wouldn't hold our breath on it being a multi-bagger going forward.
總而言之,我們發現廣東宏圖科技(控股)有限公司正在對該業務進行再投資,但回報率一直在下降。由於該股在過去五年中上漲了令人印象深刻的58%,因此投資者必須認爲會有更好的事情發生。歸根結底,如果潛在的趨勢持續下去,我們就不會屏住呼吸了。
On a final note, we've found 1 warning sign for Guangdong Hongtu Technology (holdings)Ltd that we think you should be aware of.
最後,我們發現了廣東宏圖科技(控股)有限公司的一個警告信號,我們認爲你應該注意這個信號。
While Guangdong Hongtu Technology (holdings)Ltd may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
儘管廣東宏圖科技(控股)有限公司目前可能無法獲得最高的回報,但我們編制了一份目前股本回報率超過25%的公司名單。在這裏查看這個免費清單。
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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。