Shenzhen Techwinsemi Technology (SZSE:001309) Will Want To Turn Around Its Return Trends
Shenzhen Techwinsemi Technology (SZSE:001309) Will Want To Turn Around Its Return Trends
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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Having said that, while the ROCE is currently high for Shenzhen Techwinsemi Technology (SZSE:001309), we aren't jumping out of our chairs because returns are decreasing.
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。對於那些不確定ROCE是什麼的人,它衡量一個公司可以從其業務中僱用的資本中產生的稅前利潤數量。要爲深圳市金威半導體技術公司(SZSE:001309)計算此度量標準,這是公式:
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 Shenzhen Techwinsemi Technology, this is the formula:
0.20 = CN¥ 312m ÷ (CN¥3.8b - CN¥2.3b)
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。
0.20 = CN¥312m ÷ (CN¥3.8b - CN¥2.3b) (Based on the trailing twelve months to March 2024).
因此,深圳市金威半導體技術公司的ROCE爲20%。從絕對角度來看,這是一個很好的回報,甚至比半導體行業平均水平3.9%還要好。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。.
So, Shenzhen Techwinsemi Technology has an ROCE of 20%. In absolute terms that's a great return and it's even better than the Semiconductor industry average of 3.9%.
SZSE:001309資本僱用回報率2024年5月31日
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240531/0-1f39746ad463dfa09eda21a48e4d3699-0-e0d8bcbefda7a8c231df6900de34df6e.png/big)
In the above chart we have measured Shenzhen Techwinsemi Technology's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Shenzhen Techwinsemi Technology for free.
我們對這一趨勢並不滿意,因爲在過去的五年中,深圳市金威半導體技術公司的ROCE下降了29%,而業務的資本僱用增加了857%。但是,資本僱用增加的一部分可能歸因於最近完成的增資,因此在查看ROCE下降時請記住這一點。深圳市金威半導體技術公司可能尚未從新資金籌集中獲得全年收益,因此這些數字應該以謹慎的態度看待。
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 weren't thrilled with the trend because Shenzhen Techwinsemi Technology's ROCE has reduced by 29% over the last five years, while the business employed 857% more capital. However, some of the increase in capital employed could be attributed to the recent capital raising that's been completed prior to their latest reporting period, so keep that in mind when looking at the ROCE decrease. Shenzhen Techwinsemi Technology probably hasn't received a full year of earnings yet from the new funds it raised, so these figures should be taken with a grain of salt.
另一件要注意的事情是,深圳市金威半導體技術公司的流動負債與總資產的比率很高,達到59%。這實際意味着供應商(或短期債權人)正在爲業務提供大量資金,因此請注意這可能會引入一些風險因素。理想情況下,我們希望看到這種情況得到改善,這意味着承擔風險的義務會減少。
Another thing to note, Shenzhen Techwinsemi Technology has a high ratio of current liabilities to total assets of 59%. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
另外需要注意的是,深圳市Techwinsemi科技的流動負債佔總資產比率高達59%。這實際上意味着供應商(或短期債權人)資助了業務的大部分,因此應該意識到這可能會引入一些風險。理想情況下,我們希望看到這種情況減少,因爲這意味着承擔風險的義務更少。
In Conclusion...
最後,同等資本下回報率較低的趨勢通常不是我們關注創業板股票的最佳信號。由於這些發展進行良好,因此投資者不太可能表現友好。自五年前以來,該股下跌了32%。除非這些指標朝着更積極的軌跡轉變,否則我們將繼續尋找其他股票。
While returns have fallen for Shenzhen Techwinsemi Technology in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. Furthermore the stock has climbed 66% over the last year, it would appear that investors are upbeat about the future. So while investors seem to be recognizing these promising trends, we would look further into this stock to make sure the other metrics justify the positive view.
最後需要注意的是,您應該學習我們發現的三個警告信號,其中兩個有點令人擔憂,其中之一是高回報是業績強勁的關鍵因素,因此請查看我們的免費股票列表,這些股票具有堅實的資產負債表和高回報。
One final note, you should learn about the 3 warning signs we've spotted with Shenzhen Techwinsemi Technology (including 2 which are a bit concerning) .
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。
High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.
高回報率是強勁表現的關鍵因素,因此請查看我們的免費股票列表,其中列出了盈利能力強、資產負債表堅實的股票。
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。