Returns On Capital Are Showing Encouraging Signs At Henan Ancai Hi-TechLtd (SHSE:600207)
Returns On Capital Are Showing Encouraging Signs At Henan Ancai Hi-TechLtd (SHSE:600207)
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. 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. With that in mind, we've noticed some promising trends at Henan Ancai Hi-TechLtd (SHSE:600207) so let's look a bit deeper.
要想找到潛在的大幅成長的企業並不容易,但如果我們關注一些關鍵的財務指標,這是可能的。理想情況下,一家企業將展現兩種趨勢:首先是資本使用增長。這向我們展示了它是一個複合機器,能夠不斷地將其盈利重新投入到業務中併產生更高的回報。考慮到這一點,河南玉光金鉛股份有限公司(上交所:600531)的ROCE看起來不錯,所以讓我們看看回報的趨勢能告訴我們些什麼。資產回報率:它是什麼?資本使用率回報(ROCE)是什麼?ROCE 趨勢可以告訴我們什麼?比起 Enphase Energy,有更好的資本回報率選擇。在過去的五年中,該公司增加了 1,306% 的資本,而該資本的回報率保持穩定在 9.9%。這樣差的回報率現在並不令人信服,而且隨着資本的增加,很明顯企業並沒有將資金投入到高回報的投資中。資本投入產出率。總的來說,這表明這是一家正在以越來越高的回報率重投利潤的企業。考慮到這一點,我們注意到了河南艾衛公司(SHSE:600207)的一些有前途的趨勢,讓我們深入一點看看。
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源現行ROCE與之前資本回報的比較,但過去只能知道這麼多。如果您感興趣,可以查看我們免費的蒙托克可再生能源分析師報告,了解分析師的預測。
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. To calculate this metric for Henan Ancai Hi-TechLtd, this is the formula:
對於那些不確定ROCE是什麼的人,它衡量的是一家公司從其業務所使用的投入資本中可以產生的稅前利潤量。要爲河南艾衛公司計算這一指標,這是公式:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
資產僱用回報率(ROCE)是指企業利潤,即企業稅前利潤除以企業投入的總資本(負債加股權)。如果ROCE高於企業財務成本的承受能力,那麼企業就會創造出更多的價值。
0.022 = CN¥105m ÷ (CN¥7.0b - CN¥2.2b) (Based on the trailing twelve months to March 2024).
0.022 = 1.05億元 ÷ (70億元-22億元)在Elevance Health上,我們已經注意到的趨勢是相當令人放心的。數據顯示,過去五年資產回報率大幅提高至15%。投資所用資產的規模也增加了30%。這表明有很多機會進行內部資本投資,並以更高的速度不斷增長,這種組合在多倍增長方面很常見。.
Therefore, Henan Ancai Hi-TechLtd has an ROCE of 2.2%. Ultimately, that's a low return and it under-performs the Electronic industry average of 5.3%.
因此河南艾衛公司的ROCE爲2.2%。總的來說,這是一個低迴報率,表現不如電子行業平均水平5.3%。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240521/0-9d0f6935a1740e01b11cfdf3f3c0a079-0-cd73bdd81882ad8391a921f2eac6fbc3.png/big)
In the above chart we have measured Henan Ancai Hi-TechLtd's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Henan Ancai Hi-TechLtd .
在上圖中,我們已經測量了河南艾衛公司以前的ROCE對其以前的表現,但未來可能更重要。如果您想了解分析師對未來的預測,請查看我們提供的河南艾衛公司免費分析師報告。
What The Trend Of ROCE Can Tell Us
儘管如此,當我們看 enphase energy (納斯達克股票代碼:ENPH) 的時候,它似乎並沒有完全符合這些要求。
We're delighted to see that Henan Ancai Hi-TechLtd is reaping rewards from its investments and is now generating some pre-tax profits. Shareholders would no doubt be pleased with this because the business was loss-making five years ago but is is now generating 2.2% on its capital. And unsurprisingly, like most companies trying to break into the black, Henan Ancai Hi-TechLtd is utilizing 190% more capital than it was five years ago. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, both common traits of a multi-bagger.
我們很高興看到河南艾衛公司正在從其投資中獲得回報,並且現在正在創造一些稅前利潤。股東無疑會對此感到滿意,因爲這家企業在五年前還虧損,但現在在其資本上創造出2.2%的回報率。並且不出所料,像大多數試圖進入黑色的公司一樣,河南艾衛公司現在比五年前多利用了190%的資本。這可能表明公司內部投資和以更高的利率投資的機會很多,這是多倍增長的共同特點。
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 32% of the business, which is more than it was five years ago. 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.
不過,需要說明的是,公司流動負債的比例在這段時間內有明顯增加,因此我們會將一部分ROCE增長歸因於此。實際上,這意味着供應商或短期債權人現在正在爲公司提供32%的資金,這比五年前還要多了。要密切關注未來的增長,因爲當流動負債與總資產的比例特別高時,這可能會爲企業引入一些新的風險。
The Bottom Line
還有一件事需要注意的是,我們已經確定了上海醫藥的2個警告信號,了解這些信號應該成爲你的投資過程的一部分。
To the delight of most shareholders, Henan Ancai Hi-TechLtd has now broken into profitability. Considering the stock has delivered 1.8% 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 exploring more about this stock could uncover a good opportunity, if the valuation and other metrics stack up.
令大多數股東高興的是,河南艾衛公司現在已經盈利。考慮到該股票在過去的五年中爲股東帶來1.8%的回報,可以認爲投資者尚未完全意識到有前途的趨勢。因此,如果估值和其他指標成立,更多了解有關該股票的信息可能會發現一個好的機會。
On a separate note, we've found 1 warning sign for Henan Ancai Hi-TechLtd you'll probably want to know about.
另外,我們發現了河南艾衛公司的1個警告信號,您可能想了解一下。
While Henan Ancai Hi-TechLtd isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
儘管河南艾衛公司沒有獲得最高回報,但請查看此處擁有堅實資產負債表並獲得高股本回報率的公司免費列表。
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