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The Return Trends At Dlg Exhibitions & Events (SHSE:600826) Look Promising

The Return Trends At Dlg Exhibitions & Events (SHSE:600826) Look Promising

Dlg 展覽與活動(SHSE: 600826)的回歸趨勢看起來很有希望
Simply Wall St ·  02/19 20:53

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Speaking of which, we noticed some great changes in Dlg Exhibitions & Events' (SHSE:600826) returns on capital, so let's have 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?一種常見的方法是嘗試找一家公司 回報 論資本使用率(ROCE)在增加的同時增長 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。說到這裏,我們注意到Dlg Exhibitions & Events(SHSE: 600826)的資本回報率發生了一些重大變化,所以讓我們來看看吧。

Return On Capital Employed (ROCE): What Is It?

資本使用回報率(ROCE):這是什麼?

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 Dlg Exhibitions & Events, 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 Dlg 展覽和活動的這個指標,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)

0.055 = CN¥254m ÷ (CN¥6.0b - CN¥1.4b) (Based on the trailing twelve months to September 2023).

0.055 = 2.54億元人民幣 ÷(6.0億元人民幣-14億元人民幣) (基於截至2023年9月的過去十二個月)

So, Dlg Exhibitions & Events has an ROCE of 5.5%. Ultimately, that's a low return and it under-performs the Trade Distributors industry average of 7.3%.

因此,Dlg展覽與活動的投資回報率爲5.5%。歸根結底,這是一個低迴報,其表現低於貿易分銷商行業平均水平的7.3%。

roce
SHSE:600826 Return on Capital Employed February 20th 2024
SHSE: 600826 2024 年 2 月 20 日動用資本回報率

Above you can see how the current ROCE for Dlg Exhibitions & Events 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 Dlg Exhibitions & Events.

上面你可以看到Dlg展覽與活動的當前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,你應該查看我們的免費Dlg展覽與活動報告。

The Trend Of ROCE

ROCE 的趨勢

Even though ROCE is still low in absolute terms, it's good to see it's heading in the right direction. The data shows that returns on capital have increased substantially over the last five years to 5.5%. Basically the business is earning more per dollar of capital invested and in addition to that, 49% more capital is being employed now too. 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.

儘管投資回報率的絕對值仍然很低,但很高興看到它正朝着正確的方向前進。數據顯示,在過去五年中,資本回報率大幅上升至5.5%。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49%。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

底線

In summary, it's great to see that Dlg Exhibitions & Events can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. Given the stock has declined 22% in the last five 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,很高興看到Dlg Exhibitions & Events能夠通過持續地以更高的回報率進行資本再投資來增加回報,因爲這些是那些備受追捧的多包商的一些關鍵要素。鑑於該股在過去五年中下跌了22%,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。

One more thing to note, we've identified 2 warning signs with Dlg Exhibitions & Events and understanding these should be part of your investment process.

還有一件事需要注意,我們已經在Dlg Exhibitions & Events中確定了兩個警告信號,並了解這些信號應該是您投資過程的一部分。

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。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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