The Return Trends At Offshore Oil EngineeringLtd (SHSE:600583) Look Promising
The Return Trends At Offshore Oil EngineeringLtd (SHSE:600583) Look Promising
There are a few key trends to look for if we want to identify the next multi-bagger. Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. With that in mind, we've noticed some promising trends at Offshore Oil EngineeringLtd (SHSE:600583) so let's look a bit deeper.
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。除其他外,我們希望看到兩件事;首先,成長 返回 論資本使用率(ROCE),其次是公司的擴張 金額 所用資本的比例。如果你看到這一點,這通常意味着它是一家擁有良好商業模式和大量盈利再投資機會的公司。考慮到這一點,我們注意到海洋石油工程有限公司(SHSE: 600583)的一些令人鼓舞的趨勢,所以讓我們更深入地了解一下。
Understanding Return On Capital Employed (ROCE)
了解資本使用回報率 (ROCE)
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Offshore Oil EngineeringLtd is:
如果你以前沒有與ROCE合作過,它會衡量公司從其業務中使用的資本中產生的 “回報”(稅前利潤)。海洋石油工程有限公司的計算公式爲:
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¥1.4b ÷ (CN¥44b - CN¥16b) (Based on the trailing twelve months to September 2023).
0.052 = CN¥1.4b ≤(CN¥44b-CN¥16b) (基於截至2023年9月的過去十二個月)。
Thus, Offshore Oil EngineeringLtd has an ROCE of 5.2%. In absolute terms, that's a low return and it also under-performs the Energy Services industry average of 7.8%.
因此,海洋石油工程有限公司的投資回報率爲5.2%。從絕對值來看,這是一個低迴報,其表現也低於能源服務行業7.8%的平均水平。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240317/0-70135f1516f8794ae678c4e464896ba6-0-ba9947e491d718cb0207c010eb5af2ea.png/big)
In the above chart we have measured Offshore Oil EngineeringLtd's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free analyst report for Offshore Oil EngineeringLtd .
在上圖中,我們將海洋石油工程有限公司先前的投資回報率與先前的業績進行了比較,但可以說,未來更爲重要。如果你有興趣,可以在我們爲海洋石油工程有限公司提供的免費分析師報告中查看分析師的預測。
What Can We Tell From Offshore Oil EngineeringLtd's ROCE Trend?
我們可以從海洋石油工程有限公司的投資回報率趨勢中得出什麼?
We're delighted to see that Offshore Oil EngineeringLtd is reaping rewards from its investments and has now broken into profitability. The company now earns 5.2% on its capital, because five years ago it was incurring losses. Interestingly, the capital employed by the business has remained relatively flat, so these higher returns are either from prior investments paying off or increased efficiencies. That being said, while an increase in efficiency is no doubt appealing, it'd be helpful to know if the company does have any investment plans going forward. After all, a company can only become a long term multi-bagger if it continually reinvests in itself at high rates of return.
我們很高興看到海洋石油工程有限公司正在從其投資中獲得回報,現在已經實現盈利。該公司現在的資本收入爲5.2%,因爲五年前它遭受了虧損。有趣的是,該企業使用的資本一直相對持平,因此這些更高的回報要麼來自先前投資的回報,要麼來自效率的提高。話雖如此,儘管效率的提高無疑很有吸引力,但了解該公司未來是否有任何投資計劃會很有幫助。畢竟,一家公司只有持續以高回報率對自己進行再投資,才能成爲長期的多口袋企業。
For the record though, there was a noticeable increase in the company's current liabilities over the period, so we would attribute some of the ROCE growth to that. Essentially the business now has suppliers or short-term creditors funding about 37% of its operations, which isn't ideal. Keep an eye out for future increases because when the ratio of current liabilities to total assets gets particularly high, this can introduce some new risks for the business.
但是,記錄在案的是,該公司的流動負債在此期間顯著增加,因此我們將投資回報率的部分增長歸因於此。從本質上講,該企業現在有供應商或短期債權人爲其約37%的業務提供資金,這並不理想。留意未來的增長,因爲當流動負債與總資產的比率變得特別高時,這可能會給企業帶來一些新的風險。
What We Can Learn From Offshore Oil EngineeringLtd's ROCE
我們可以從海洋石油工程有限公司的ROCE中學到什麼
As discussed above, Offshore Oil EngineeringLtd appears to be getting more proficient at generating returns since capital employed has remained flat but earnings (before interest and tax) are up. Considering the stock has delivered 21% to its stockholders over the last five years, it may be fair to think that investors aren't fully aware of the promising trends yet. So with that in mind, we think the stock deserves further research.
如上所述,Ofshore Oil EngineeringLtd似乎越來越擅長創造回報,因爲已動用資本保持平穩,但收益(不計利息和稅收)有所增加。考慮到該股在過去五年中已爲股東帶來了21%的收益,可以公平地認爲,投資者尚未完全意識到前景的趨勢。因此,考慮到這一點,我們認爲該股值得進一步研究。
Offshore Oil EngineeringLtd does have some risks though, and we've spotted 1 warning sign for Offshore Oil EngineeringLtd that you might be interested in.
但是,海洋石油工程有限公司確實存在一些風險,我們已經發現了海上石油工程有限公司的一個警告信號,你可能會對此感興趣。
While Offshore Oil EngineeringLtd 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.
儘管海上石油工程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。