Hunan Zhongke Electric (SZSE:300035) Will Be Hoping To Turn Its Returns On Capital Around
Hunan Zhongke Electric (SZSE:300035) Will Be Hoping To Turn Its Returns On Capital Around
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should 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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. However, after briefly looking over the numbers, we don't think Hunan Zhongke Electric (SZSE:300035) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
如果你在尋找下一款多功能裝袋機時不確定從哪裏開始,那麼你應該留意一些關鍵趨勢。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。簡而言之,這些類型的企業是複合機器,這意味着他們不斷以更高的回報率對收益進行再投資。但是,在簡短地查看了這些數字之後,我們認爲湖南中科電氣(SZSE: 300035)在未來不具備多袋機的實力,但讓我們來看看爲什麼會這樣。
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. Analysts use this formula to calculate it for Hunan Zhongke Electric:
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。分析師使用這個公式來計算湖南中科電氣的利潤:
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)
0.0033 = CN¥25m ÷ (CN¥11b - CN¥3.1b) (Based on the trailing twelve months to September 2023).
0.0033 = 2,500萬元人民幣 ÷(11億元人民幣-31億元人民幣) (基於截至2023年9月的過去十二個月)。
Thus, Hunan Zhongke Electric has an ROCE of 0.3%. In absolute terms, that's a low return and it also under-performs the Machinery industry average of 6.0%.
因此,湖南中科電氣的投資回報率爲0.3%。從絕對值來看,這是一個低迴報,其表現也低於機械行業6.0%的平均水平。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240227/0-9350639d1424b8f9179e6c517f3c17c1-0-9d5853da1cee62041dc1ce7bb43e8b0e.png/big)
Above you can see how the current ROCE for Hunan Zhongke Electric compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Hunan Zhongke Electric for free.
上面你可以看到湖南中科電氣當前的投資回報率與其先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。如果你願意,你可以免費查看報道湖南中科電氣的分析師的預測。
The Trend Of ROCE
ROCE 的趨勢
In terms of Hunan Zhongke Electric's historical ROCE movements, the trend isn't fantastic. Around five years ago the returns on capital were 7.1%, but since then they've fallen to 0.3%. However, given capital employed and revenue have both increased it appears that the business is currently pursuing growth, at the consequence of short term returns. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
就湖南中科電氣的歷史ROCE走勢而言,這一趨勢並不理想。大約五年前,資本回報率爲7.1%,但此後已降至0.3%。但是,鑑於已動用資本和收入均有所增加,由於短期回報,該業務目前似乎正在追求增長。而且,如果增加的資本產生額外的回報,那麼從長遠來看,企業乃至股東都將受益。
The Bottom Line On Hunan Zhongke Electric's ROCE
湖南中科電氣投資回報率的底線
In summary, despite lower returns in the short term, we're encouraged to see that Hunan Zhongke Electric is reinvesting for growth and has higher sales as a result. And the stock has followed suit returning a meaningful 66% to shareholders over the last five years. So should these growth trends continue, we'd be optimistic on the stock going forward.
總而言之,儘管短期內回報較低,但我們欣慰地看到,湖南中科電氣正在進行再投資以實現增長,從而實現更高的銷售額。在過去五年中,該股緊隨其後,向股東帶來了可觀的66%的回報。因此,如果這些增長趨勢繼續下去,我們將對該股的未來持樂觀態度。
If you want to continue researching Hunan Zhongke Electric, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果你想繼續研究湖南中科電氣,你可能有興趣了解我們的分析發現的1個警告信號。
While Hunan Zhongke Electric 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.
儘管湖南中科電氣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。