Here's What's Concerning About Wuhu Token Sciences' (SZSE:300088) Returns On Capital
Here's What's Concerning About Wuhu Token Sciences' (SZSE:300088) Returns On Capital
0.013 = CN¥127m ÷ (CN¥15b - CN¥5.3b) (Based on the trailing twelve months to March 2024).To find a multi-bagger stock, what are the underlying trends we should look for in a business? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. However, after briefly looking over the numbers, we don't think Wuhu Token Sciences (SZSE:300088) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
要找到一個翻倍股，我們在業務中應該尋找哪些基本趨勢？我們不能漏掉以下兩點：第一，資本僱用量的增長。簡單地說，這些類型的企業是複合機器，意味着他們持續地以越來越高的回報率重新投資他們的利潤。資產回報率：它是什麼？如果您不確定ROCE是什麼，它可以衡量公司能夠從其業務所僱用的資本產生多少稅前利潤。爲了計算V2X的這個指數，使用以下公式:0.054 = 1.24億美元÷（31億美元 - 8.53億美元）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。這表明它是一個複利機器，能夠不斷地將盈利重新投入業務中，產生更高的回報。然而，我們簡短地查看了一下數據後，認爲長信科技（SZSE:300088）未來不可能成爲幾倍賺家，接下來讓我們來分析一下原因。
Return On Capital Employed (ROCE): What Is It?
資本僱用回報率（ROCE）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 Wuhu Token Sciences, this is the formula:
對於那些不了解，ROCE 是衡量一家公司年稅前利潤（其回報）相對於業務所使用的資本的指標。計算長信科技的這個指標的公式如下：
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。
0.013 = CN¥127m ÷ (CN¥15b - CN¥5.3b) (Based on the trailing twelve months to March 2024).
0.013 = CN¥12700萬 ÷ (CN¥150億 - CN¥5.3b)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, Wuhu Token Sciences has an ROCE of 1.3%. In absolute terms, that's a low return and it also under-performs the Electronic industry average of 5.3%.
因此，長信科技的 ROCE 爲1.3%。從絕對數值來看，這是一個較低的回報率，並且低於電子行業的平均水平5.3%。
In the above chart we have measured Wuhu Token Sciences' 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 Wuhu Token Sciences .
在上圖中，我們已經測量了長信科技之前的 ROCE 對其之前的業績，但未來的表現可能更爲重要。如果您感興趣，可以在我們爲長信科技提供的免費分析師報告中查看分析師對其的預測。
The Trend Of ROCE
當尋找下一個倍增器時，如果您不確定從哪裏開始，請關注幾個關鍵趨勢。首先，我們希望看到一個經過驗證的資本使用率。如果您看到這一點，通常意味着這是一家擁有出色業務模式和大量盈利再投資機會的公司。然而，調查蒙托克可再生能源公司（NASDAQ：MNTK）後，我們認爲它的現行趨勢不符合倍增器的模式。
On the surface, the trend of ROCE at Wuhu Token Sciences doesn't inspire confidence. Over the last five years, returns on capital have decreased to 1.3% from 15% five years ago. However, given capital employed and revenue have both increased it appears that the business is currently pursuing growth, at the consequence of short term returns. If these investments prove successful, this can bode very well for long term stock performance.
表面上看，長信科技的 ROCE 趨勢並沒有激發人們的信心。在過去的五年中，資本回報率從五年前的15％下降到了1.3％。然而，鑑於資本和營業收入均有增長，當前看來，該企業正在追求增長，以犧牲短期回報爲代價。如果這些投資證明成功，這對於長期股票表現非常有利。
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。
Even though returns on capital have fallen in the short term, we find it promising that revenue and capital employed have both increased for Wuhu Token Sciences. In light of this, the stock has only gained 2.2% over the last five years. So this stock may still be an appealing investment opportunity, if other fundamentals prove to be sound.
儘管資本回報率在短期內下降了，但我們發現長信科技的營業收入和資本使用率均已增加，這很有前景。鑑於此，該股票在過去的五年中僅上漲了2.2％。因此，如果其他基本面證明穩健，這支股票仍然可能是一個有吸引力的投資機會。
Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 3 warning signs for Wuhu Token Sciences (of which 1 makes us a bit uncomfortable!) that you should know about.
由於幾乎每家公司都面臨着一些風險，了解這些風險是值得的，我們發現長信科技存在3個警告信號（其中1個讓我們有些不安！），您應該了解這些風險信號。
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.
如果您想尋找財務狀況良好、回報卓越的實力強企業，可以免費查看以下公司列表。
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