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Jilin Electric PowerLtd (SZSE:000875) Shareholders Will Want The ROCE Trajectory To Continue

Jilin Electric PowerLtd (SZSE:000875) Shareholders Will Want The ROCE Trajectory To Continue

吉林電力有限公司(深圳證券交易所代碼:000875)股東將希望投資回報率的走勢得以延續
Simply Wall St ·  03/01 08:48

There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing 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. Speaking of which, we noticed some great changes in Jilin Electric PowerLtd's (SZSE:000875) returns on capital, so let's have a look.

如果我們想確定下一個多功能裝袋機,有一些關鍵趨勢需要關注。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。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。說到這裏,我們注意到吉林電力股份有限公司(SZSE: 000875)的資本回報率發生了一些重大變化,所以讓我們來看看吧。

What Is Return On Capital Employed (ROCE)?

什麼是資本使用回報率(ROCE)?

Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for Jilin Electric PowerLtd:

爲了澄清一下你是否不確定,ROCE是評估公司從投資於其業務的資本中獲得多少稅前收入(按百分比計算)的指標。分析師使用這個公式來計算吉林電力有限公司的利潤:

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)

0.061 = CN¥3.5b ÷ (CN¥75b - CN¥18b) (Based on the trailing twelve months to September 2023).

0.061 = 35億元人民幣 ÷(75億元人民幣-18億元人民幣) (基於截至2023年9月的過去十二個月)

Therefore, Jilin Electric PowerLtd has an ROCE of 6.1%. On its own that's a low return on capital but it's in line with the industry's average returns of 5.6%.

因此,吉林電力有限公司的投資回報率爲6.1%。這本身就是很低的資本回報率,但與該行業5.6%的平均回報率一致。

roce
SZSE:000875 Return on Capital Employed March 1st 2024
SZSE: 000875 2024 年 3 月 1 日動用資本回報率

Above you can see how the current ROCE for Jilin Electric PowerLtd compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for Jilin Electric PowerLtd .

上面你可以看到吉林電力有限公司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。如果您有興趣,可以在我們的吉林電力有限公司免費分析師報告中查看分析師的預測。

What The Trend Of ROCE Can Tell Us

ROCE 的趨勢能告訴我們什麼

We're glad to see that ROCE is heading in the right direction, even if it is still low at the moment. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 6.1%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 157%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.

我們很高興看到投資回報率正朝着正確的方向前進,儘管目前投資回報率仍然很低。數字顯示,在過去五年中,所用資本的回報率已大幅增長至6.1%。實際上,該公司每使用1美元資本就能賺更多的錢,值得注意的是,資本金額也增加了157%。越來越多的資本所帶來的回報率不斷增加在多袋公司中很常見,這就是爲什麼我們印象深刻的原因。

On a related note, the company's ratio of current liabilities to total assets has decreased to 24%, which basically reduces it's funding from the likes of short-term creditors or suppliers. This tells us that Jilin Electric PowerLtd has grown its returns without a reliance on increasing their current liabilities, which we're very happy with.

與此相關的是,該公司的流動負債佔總資產的比率已降至24%,這基本上減少了來自短期債權人或供應商等機構的融資。這告訴我們,吉林電力有限公司在不依賴於增加流動負債的情況下增加了回報,我們對此感到非常滿意。

In Conclusion...

總之...

All in all, it's terrific to see that Jilin Electric PowerLtd is reaping the rewards from prior investments and is growing its capital base. Since the stock has only returned 39% to shareholders over the last five years, the promising fundamentals may not be recognized yet by investors. 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,看到吉林電力股份有限公司從先前的投資中獲得回報,並正在擴大其資本基礎,這真是太棒了。由於該股在過去五年中僅向股東回報了39%,因此前景良好的基本面可能尚未得到投資者的認可。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。

Jilin Electric PowerLtd does come with some risks though, we found 2 warning signs in our investment analysis, and 1 of those is potentially serious...

但是,吉林電力有限公司確實存在一些風險,我們在投資分析中發現了兩個警告信號,其中一個可能很嚴重...

While Jilin Electric PowerLtd 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.

儘管吉林電力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。

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.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
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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