Investors Will Want Yantai Zhenghai Magnetic Material's (SZSE:300224) Growth In ROCE To Persist
Investors Will Want Yantai Zhenghai Magnetic Material's (SZSE:300224) Growth In ROCE To Persist
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Speaking of which, we noticed some great changes in Yantai Zhenghai Magnetic Material's (SZSE:300224) returns on capital, so let's have a look.
如果我們想找到潛在的多袋裝袋機,通常有一些潛在的趨勢可以提供線索。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。基本上,這意味着公司擁有可以繼續進行再投資的盈利計劃,這是複合機器的特徵。說到這裏,我們注意到煙臺正海磁材(SZSE: 300224)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)?
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. Analysts use this formula to calculate it for Yantai Zhenghai Magnetic Material:
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。分析師使用這個公式來計算煙臺正海磁材的計算公式:
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)
0.10 = CN¥539m ÷ (CN¥8.2b - CN¥3.0b) (Based on the trailing twelve months to September 2023).
0.10 = 5.39億元人民幣 ÷(8.2億元人民幣-30億元人民幣) (基於截至2023年9月的過去十二個月)。
Thus, Yantai Zhenghai Magnetic Material has an ROCE of 10%. On its own, that's a standard return, however it's much better than the 6.5% generated by the Electrical industry.
因此,煙臺正海磁材的投資回報率爲10%。就其本身而言,這是標準回報,但要比電氣行業產生的6.5%好得多。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240320/0-6cf6561bba12f2cbe1d9812e962839e4-0-9646624b1c8e9d40fa431acc83c2ad9f.png/big)
In the above chart we have measured Yantai Zhenghai Magnetic Material'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 Yantai Zhenghai Magnetic Material .
在上圖中,我們將煙臺正海磁材先前的投資回報率與之前的表現進行了對比,但可以說,未來更爲重要。如果您有興趣,可以在我們對煙臺正海磁材的免費分析師報告中查看分析師的預測。
What Can We Tell From Yantai Zhenghai Magnetic Material's ROCE Trend?
我們可以從煙臺正海磁材的ROCE趨勢中得出什麼?
The trends we've noticed at Yantai Zhenghai Magnetic Material are quite reassuring. The data shows that returns on capital have increased substantially over the last five years to 10%. 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 80%. So we're very much inspired by what we're seeing at Yantai Zhenghai Magnetic Material thanks to its ability to profitably reinvest capital.
我們在煙臺正海磁材注意到的趨勢相當令人放心。數據顯示,在過去五年中,資本回報率大幅上升至10%。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80%。因此,我們在煙臺正海磁材所看到的情況給我們帶來了極大的啓發,這要歸功於它能夠盈利地進行資本再投資。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Essentially the business now has suppliers or short-term creditors funding about 36% 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.
順便說一句,我們注意到,投資回報率的改善似乎部分是由流動負債的增加推動的。從本質上講,該企業現在有供應商或短期債權人爲其約36%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。
In Conclusion...
總之...
To sum it up, Yantai Zhenghai Magnetic Material has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. And with a respectable 73% awarded to those who held the stock over the last five years, you could argue that these developments are starting to get the attention they deserve. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.
總而言之,煙臺正海磁材已經證明,它可以對該業務進行再投資,並從所使用的資本中獲得更高的回報,這太棒了。而且,在過去五年中持有該股票的人將獲得可觀的73%的獎勵,你可以說這些發展已開始得到應有的關注。因此,鑑於該股已證明其趨勢令人鼓舞,值得進一步研究該公司,看看這些趨勢是否可能持續下去。
One more thing: We've identified 2 warning signs with Yantai Zhenghai Magnetic Material (at least 1 which is significant) , and understanding these would certainly be useful.
還有一件事:我們已經確定了煙臺正海磁材的兩個警告信號(至少有一個很重要),了解這些信號肯定會很有用。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
對於那些喜歡投資穩健公司的人,可以查看這份資產負債表穩健和股本回報率高的公司的免費清單。
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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。