There's Been No Shortage Of Growth Recently For Willing New Energy's (SZSE:002667) Returns On Capital
There's Been No Shortage Of Growth Recently For Willing New Energy's (SZSE:002667) Returns On Capital
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. 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. 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 Willing New Energy (SZSE:002667) so let's look a bit deeper.
尋找具有大幅增長潛力的企業並不容易,但如果我們看幾個關鍵的財務指標,這是可能的。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。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Willing New Energy(深圳證券交易所:002667)的一些令人鼓舞的趨勢,因此讓我們更深入地了解一下。
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. Analysts use this formula to calculate it for Willing New Energy:
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 Willing New Energy 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)
0.017 = CN¥26m ÷ (CN¥2.2b - CN¥680m) (Based on the trailing twelve months to September 2023).
0.017 = 2600萬元人民幣 ÷(22億元人民幣-6.8億元人民幣) (基於截至2023年9月的過去十二個月)。
Therefore, Willing New Energy has an ROCE of 1.7%. In absolute terms, that's a low return and it also under-performs the Machinery industry average of 6.1%.
因此,威靈新能源的投資回報率爲1.7%。從絕對值來看,這是一個低迴報,其表現也低於機械行業6.1%的平均水平。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240418/0-d4e140569658d6e4757c1b6df56f94c8-0-fe6b62452e6de206f860180a237efd6e.png/big)
While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you'd like to look at how Willing New Energy has performed in the past in other metrics, you can view this free graph of Willing New Energy's past earnings, revenue and cash flow.
雖然過去並不能代表未來,但了解一家公司的歷史表現可能會有所幫助,這就是我們上面有這張圖表的原因。如果你想在其他指標中查看Willing New Energy過去的表現,你可以查看這張Willing New Energy過去收益、收入和現金流的免費圖表。
What The Trend Of ROCE Can Tell Us
ROCE 的趨勢能告訴我們什麼
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 1.7%. Basically the business is earning more per dollar of capital invested and in addition to that, 92% more capital is being employed now too. So we're very much inspired by what we're seeing at Willing New Energy thanks to its ability to profitably reinvest capital.
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1.7%。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92%。因此,我們在Willing New Energy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。
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. Effectively this means that suppliers or short-term creditors are now funding 31% of the business, which is more than it was five years ago. It's worth keeping an eye on this because as the percentage of current liabilities to total assets increases, some aspects of risk also increase.
但是,記錄在案的是,在此期間,該公司的流動負債明顯增加,因此我們將部分投資回報率的增長歸因於此。實際上,這意味着供應商或短期債權人現在爲31%的業務提供資金,比五年前還要多。值得關注的是,隨着流動負債佔總資產的百分比增加,風險的某些方面也會增加。
What We Can Learn From Willing New Energy's ROCE
我們可以從Willing New Energy的投資回報率中學到什麼
All in all, it's terrific to see that Willing New Energy is reaping the rewards from prior investments and is growing its capital base. Astute investors may have an opportunity here because the stock has declined 28% in the last five years. With that in mind, we believe the promising trends warrant this stock for further investigation.
總而言之,看到Willing New Energy從先前的投資中獲得回報並不斷擴大其資本基礎真是太棒了。精明的投資者可能在這裏有機會,因爲該股在過去五年中下跌了28%。考慮到這一點,我們認爲前景樂觀的趨勢值得對該股進行進一步調查。
One more thing: We've identified 2 warning signs with Willing New Energy (at least 1 which is a bit unpleasant) , and understanding them would certainly be useful.
還有一件事:我們已經確定了Willing New Energy的2個警告信號(至少有1個有點不愉快),了解它們肯定會很有用。
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。