Returns On Capital Signal Tricky Times Ahead For Newonder Special ElectricLtd (SZSE:301120)
Returns On Capital Signal Tricky Times Ahead For Newonder Special ElectricLtd (SZSE:301120)
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount 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 Newonder Special ElectricLtd (SZSE:301120) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
如果你正在尋找一款多功能裝袋機,有幾件事需要注意。理想情況下,企業將表現出兩種趨勢;首先是增長 返回 論資本使用率(ROCE),其次是增加 金額 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,乍一看Newonder Special ElectricLtd(深圳證券交易所代碼:301120),我們並不是對回報的趨勢不屑一顧,但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)
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. To calculate this metric for Newonder Special ElectricLtd, this is the formula:
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。要計算Newonder Special ElectricLtd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)
0.017 = CN¥27m ÷ (CN¥1.7b - CN¥73m) (Based on the trailing twelve months to March 2024).
0.017 = 2700萬元人民幣 ÷(17億元人民幣-7300萬元人民幣) (基於截至2024年3月的過去十二個月)。
Thus, Newonder Special ElectricLtd has an ROCE of 1.7%. Ultimately, that's a low return and it under-performs the Electrical industry average of 6.6%.
因此,Newonder Special ElectricLtd的投資回報率爲1.7%。歸根結底,這是一個低迴報,其表現低於電氣行業6.6%的平均水平。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240513/0-542ae95518a9ae7ddc67fd697d75ca57-0-1861d5210da928fef017abf9bd0b35a4.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're interested in investigating Newonder Special ElectricLtd's past further, check out this free graph covering Newonder Special ElectricLtd'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。如果你有興趣進一步調查Newonder Special ElectricLtd的過去,請查看這張涵蓋Newonder Special ElectricLtd過去的收益、收入和現金流的免費圖表。
How Are Returns Trending?
退貨趨勢如何?
In terms of Newonder Special ElectricLtd's historical ROCE movements, the trend isn't fantastic. To be more specific, ROCE has fallen from 10% over the last five years. Meanwhile, the business is utilizing more capital but this hasn't moved the needle much in terms of sales in the past 12 months, so this could reflect longer term investments. It may take some time before the company starts to see any change in earnings from these investments.
就Newonder Special ElectricLtd的歷史走勢而言,這一趨勢並不理想。更具體地說,投資回報率已從過去五年的10%下降。同時,該業務正在使用更多的資本,但在過去的12個月中,這並沒有對銷售產生太大影響,因此這可能反映出長期投資。公司可能需要一段時間才能開始看到這些投資的收益發生任何變化。
The Bottom Line On Newonder Special ElectricLtd's ROCE
Newonder Special ElectricLtd 的 ROCE 的底線
To conclude, we've found that Newonder Special ElectricLtd is reinvesting in the business, but returns have been falling. Additionally, the stock's total return to shareholders over the last year has been flat, which isn't too surprising. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.
總而言之,我們發現Newonder Special ElectricLtd正在對該業務進行再投資,但回報率一直在下降。此外,該股去年的股東總回報率持平,這並不奇怪。無論如何,該股票不具有上面討論的多袋裝股票的特徵,因此,如果您正在尋找這種特徵,我們認爲您在其他地方會更幸運。
If you want to continue researching Newonder Special ElectricLtd, you might be interested to know about the 2 warning signs that our analysis has discovered.
如果你想繼續研究Newonder Special ElectricLtd,你可能有興趣了解我們的分析發現的兩個警告信號。
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
如果你想尋找收益豐厚的穩健公司,可以免費查看這份資產負債表良好且股本回報率可觀的公司名單。
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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.
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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。