Dongguan Tarry ElectronicsLtd (SZSE:300976) Will Want To Turn Around Its Return Trends
Dongguan Tarry ElectronicsLtd (SZSE:300976) Will Want To Turn Around Its Return Trends
0.017 = CN¥54m ÷ (CN¥3.7b - CN¥474m) If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. However, after investigating Dongguan Tarry ElectronicsLtd (SZSE:300976), we don't think it's current trends fit the mold of a multi-bagger.
如果我們想找到一個潛在的多倍增長股，通常有一些潛在的趨勢可以提供線索。通常情況下，我們需要注意到一個不斷增長的資本僱用回報率（ROCE）的趨勢，以及一個不斷擴大的資本僱用基礎。如果您看到這個，通常意味着這是一個具有優秀商業模式和豐富的盈利再投資機會的公司。然而，在調查東莞市泰利電子股份有限公司（SZSE：300976）後，我們認爲它目前的趨勢並不符合多倍增長股的模式。
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 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 Dongguan Tarry ElectronicsLtd, this is the formula:
對於那些不知道ROCE的人來說，ROCE是一個公司每年的稅前利潤（即回報）相對於業務中所僱用的資本的度量標準。爲了計算東莞市泰利電子股份有限公司的這個指標，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。
0.017 = CN¥54m ÷ (CN¥3.7b - CN¥474m) (Based on the trailing twelve months to March 2024).
0.017 = CN¥5400萬 ÷ (CN¥37億 - CN¥474m)（基於過去12個月至2024年3月）。
Therefore, Dongguan Tarry ElectronicsLtd has an ROCE of 1.7%. In absolute terms, that's a low return and it also under-performs the Electronic industry average of 5.2%.
因此，東莞市泰利電子股份有限公司的ROCE爲1.7%。在絕對值上，這是一個較低的回報，也低於電子行業的平均水平5.2%。
In the above chart we have measured Dongguan Tarry ElectronicsLtd's 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 Dongguan Tarry ElectronicsLtd .
在上面的圖表中，我們已經對東莞市泰利電子股份有限公司的過去ROCE與其過去業績進行了測量，但未來可能更重要。如果您感興趣，您可以查看我們的免費分析師報告中針對東莞市泰利電子股份有限公司的分析師預測。
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。
In terms of Dongguan Tarry ElectronicsLtd's historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 1.7% from 48% five years ago. On the other hand, the company has been employing more capital without a corresponding improvement in sales in the last year, which could suggest these investments are longer term plays. It may take some time before the company starts to see any change in earnings from these investments.
在東莞市泰利電子股份有限公司的歷史ROCE趨勢方面，這種趨勢並不好。在過去五年中，資本回報率從五年前的48%下降到了1.7%。另一方面，公司在過去一年中僱用了更多的資本，但銷售沒有相應改善，這可能表明這些投資是長期投資。也許需要一些時間，公司才能從這些投資中看到任何收益變化。
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。
Bringing it all together, while we're somewhat encouraged by Dongguan Tarry ElectronicsLtd's reinvestment in its own business, we're aware that returns are shrinking. And in the last three years, the stock has given away 44% so the market doesn't look too hopeful on these trends strengthening any time soon. Therefore based on the analysis done in this article, we don't think Dongguan Tarry ElectronicsLtd has the makings of a multi-bagger.
綜合上述，雖然我們對東莞市泰利電子股份有限公司對自己業務的再投資略有鼓舞，但我們意識到其回報正在縮水。在過去的三年中，該股票損失了44%，因此市場在這些趨勢加強的時間內並不看好。因此，基於本文所做的分析，我們不認爲東莞市泰利電子股份有限公司具備多倍增長股的條件。
Like most companies, Dongguan Tarry ElectronicsLtd does come with some risks, and we've found 1 warning sign that you should be aware of.
像大多數公司一樣，東莞市泰利電子股份有限公司也有一些風險，我們發現了1個警示，您應該注意。
While Dongguan Tarry ElectronicsLtd isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
雖然東莞市泰利電子股份有限公司的回報率不高，但請查看此免費公司列表，這些公司在股東權益上獲得了高回報，並具有穩健的資產負債表。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@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
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。