Ningbo Huaxiang Electronic (SZSE:002048) Hasn't Managed To Accelerate Its Returns
Ningbo Huaxiang Electronic (SZSE:002048) Hasn't Managed To Accelerate Its Returns
There are a few key trends to look for if we want to identify the next multi-bagger. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Having said that, from a first glance at Ningbo Huaxiang Electronic (SZSE:002048) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
如果想要找出下一個多倍股,有一些關鍵趨勢需要查看。理想情況下,一個公司應該表現出兩個趨勢;首先是資產的增長。最終,這表明這是一個在以遞增的收益率重新投資利潤的公司。這就是爲什麼當我們簡要地研究Amcor(紐交所:AMCR)的ROCE趨勢時,我們對所看到的感到非常滿意。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。資本投入回報率(ROCE)是指公司能夠持續投資盈利項目的能力,也是複利機器的特徵。但是,就寧波華翔電子(SZSE: 002048)的收益趨勢而言,我們並不覺得公司表現突出,讓我們深入研究一下。
What Is Return On Capital Employed (ROCE)?
我們對 Enphase Energy 的資本僱用回報率的看法:正如我們上面看到的,Enphase Energy 的資本回報率沒有提高,但它正在重新投資於業務。投資者必須認爲未來會有更好的前景,因爲股票表現良好,使持股五年以上的股東獲得了 690% 的收益。最終,如果基本趨勢持續存在,我們不會對它成爲一隻多頭股持有期很久很有信心。
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. Analysts use this formula to calculate it for Ningbo Huaxiang Electronic:
對於不清楚ROCE是什麼的人,它衡量公司能夠從業務中投入的資本中產生多少稅前利潤。分析師使用以下公式來計算寧波華翔電子的ROCE:
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。
0.094 = CN¥1.5b ÷ (CN¥27b - CN¥11b) (Based on the trailing twelve months to March 2024).
0.094 = CN¥1.5b ÷ (CN¥27b - CN¥11b)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。.
Thus, Ningbo Huaxiang Electronic has an ROCE of 9.4%. On its own that's a low return, but compared to the average of 6.9% generated by the Auto Components industry, it's much better.
因此,寧波華翔電子的ROCE爲9.4%。這本身算是一種低迴報,但與汽車元件行業平均6.9%的回報相比,它要好得多。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240626/0-a776794aafe0e5aab4d7e950ce747b1c-0-0712b989fe0b724841c07f3a586ee616.png/big)
Above you can see how the current ROCE for Ningbo Huaxiang Electronic compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Ningbo Huaxiang Electronic .
您可以看到寧波華翔電子目前的ROCE如何與其過去的資本回報相比,但從過去的數據中並不能得出太多結論。如果您想查看分析師對寧波華翔電子未來的預測,請查看我們爲該公司提供的免費分析師報告。
How Are Returns Trending?
綜合上述,Cimpress非常有效地提高了其資本利用率所產生的回報。考慮到股票過去五年保持穩定,如果其他指標也不錯,則可能存在機會。因此,進一步研究這家公司並確定這些趨勢是否會持續是合理的。
The returns on capital haven't changed much for Ningbo Huaxiang Electronic in recent years. Over the past five years, ROCE has remained relatively flat at around 9.4% and the business has deployed 51% more capital into its operations. Given the company has increased the amount of capital employed, it appears the investments that have been made simply don't provide a high return on capital.
過去幾年中,寧波華翔電子的資本回報率變化不大。在過去的五年中,ROCE基本保持在9.4%左右,業務擴張使用的資本增加了51%。鑑於該公司增加了投入的資本數量,似乎所做的投資只能提供較低的資本回報。
What We Can Learn From Ningbo Huaxiang Electronic's ROCE
從寧波華翔電子的ROCE中我們能學到的是,雖然公司一直在投資擴張,但其資本回報率並沒有增加。股市在過去的五年中上漲了50%,這說明市場可能預計這些趨勢會改善。然而,除非這些基本趨勢變得更加積極,否則我們不應抱太高的期望。
Long story short, while Ningbo Huaxiang Electronic has been reinvesting its capital, the returns that it's generating haven't increased. Although the market must be expecting these trends to improve because the stock has gained 50% over the last five years. However, unless these underlying trends turn more positive, we wouldn't get our hopes up too high.
長話短說,雖然寧波華翔電子一直在重新投資資本,但其所產生的回報仍未增加。雖然市場預計這些趨勢會改善,但除非這些基本趨勢變得更加積極,否則我們不應抱太高的期望。
Ningbo Huaxiang Electronic does have some risks though, and we've spotted 1 warning sign for Ningbo Huaxiang Electronic that you might be interested in.
但寧波華翔電子確實存在一些風險,我們也找到了一項有關寧波華翔電子的警告信號,您可能感興趣。
While Ningbo Huaxiang Electronic may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
儘管寧波華翔電子目前的回報不是最高的,但我們已經編制了一份超過25%股本回報率的公司列表。在這裏查看此免費列表。
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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.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或電郵 editorial-team (at) simplywallst.com。
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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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