Luoyang Jianlong Micro-nano New Material (SHSE:688357) Might Be Having Difficulty Using Its Capital Effectively
Luoyang Jianlong Micro-nano New Material (SHSE:688357) Might Be Having Difficulty Using Its Capital Effectively
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. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Having said that, from a first glance at Luoyang Jianlong Micro-nano New Material (SHSE:688357) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
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。歸根結底,這表明這是一家以更高的回報率對利潤進行再投資的企業。話雖如此,從洛陽建龍微納新材料(SHSE: 688357)的第一眼來看,我們並不是對回報趨勢不屑一顧,但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 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. To calculate this metric for Luoyang Jianlong Micro-nano New Material, this is the formula:
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。要計算洛陽建龍微納新材料的這個指標,公式如下:
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)
0.073 = CN¥176m ÷ (CN¥3.0b - CN¥592m) (Based on the trailing twelve months to December 2023).
0.073 = 1.76億元人民幣 ÷(30億元人民幣-5.92億元人民幣) (基於截至2023年12月的過去十二個月)。
So, Luoyang Jianlong Micro-nano New Material has an ROCE of 7.3%. On its own that's a low return, but compared to the average of 6.0% generated by the Chemicals industry, it's much better.
因此,洛陽建龍微納新材料的投資回報率爲7.3%。就其本身而言,回報率很低,但與化工行業6.0%的平均回報率相比,要好得多。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240419/0-a5cd3b43996ae0df86ac207992edeca6-0-6695fa4af1db1ba69e9691e6dcc703e9.png/big)
Above you can see how the current ROCE for Luoyang Jianlong Micro-nano New Material 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 Luoyang Jianlong Micro-nano New Material .
上面你可以看到洛陽建龍微納新材料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,可以在我們對洛陽建龍微納新材料的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
In terms of Luoyang Jianlong Micro-nano New Material's historical ROCE movements, the trend isn't fantastic. Around five years ago the returns on capital were 31%, but since then they've fallen to 7.3%. Although, given both revenue and the amount of assets employed in the business have increased, it could suggest the company is investing in growth, and the extra capital has led to a short-term reduction in ROCE. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
就洛陽建龍微納新材料的歷史ROCE運動而言,這一趨勢並不理想。大約五年前,資本回報率爲31%,但此後已降至7.3%。儘管考慮到該業務的收入和資產數量都有所增加,但這可能表明該公司正在投資增長,而額外的資本導致了投資回報率的短期下降。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。
On a related note, Luoyang Jianlong Micro-nano New Material has decreased its current liabilities to 20% of total assets. That could partly explain why the ROCE has dropped. What's more, this can reduce some aspects of risk to the business because now the company's suppliers or short-term creditors are funding less of its operations. Since the business is basically funding more of its operations with it's own money, you could argue this has made the business less efficient at generating ROCE.
與此相關的是,洛陽建龍微納新材料已將其流動負債減少至總資產的20%。這可以部分解釋投資回報率下降的原因。更重要的是,這可以降低業務風險的某些方面,因爲現在公司的供應商或短期債權人爲其運營提供的資金減少了。由於該企業基本上是用自己的資金爲其運營提供更多資金,因此您可能會爭辯說,這降低了企業產生投資回報率的效率。
Our Take On Luoyang Jianlong Micro-nano New Material's ROCE
我們對洛陽建龍微納新材料投資回報率的看法
In summary, despite lower returns in the short term, we're encouraged to see that Luoyang Jianlong Micro-nano New Material is reinvesting for growth and has higher sales as a result. However, despite the promising trends, the stock has fallen 40% over the last three years, so there might be an opportunity here for astute investors. So we think it'd be worthwhile to look further into this stock given the trends look encouraging.
總而言之,儘管短期內回報較低,但洛陽建龍微納新材料正在進行再投資以實現增長,因此銷售額有所增加,這讓我們感到鼓舞。但是,儘管趨勢樂觀,但該股在過去三年中下跌了40%,因此對於精明的投資者來說,這裏可能有機會。因此,鑑於趨勢令人鼓舞,我們認爲值得進一步研究該股。
If you'd like to know about the risks facing Luoyang Jianlong Micro-nano New Material, we've discovered 2 warning signs that you should be aware of.
如果你想了解洛陽建龍微納新材料面臨的風險,我們發現了兩個警告信號,你應該注意。
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。