Zhongshan Broad-Ocean Motor's (SZSE:002249) Returns On Capital Are Heading Higher
Zhongshan Broad-Ocean Motor's (SZSE:002249) Returns On Capital Are Heading Higher
If you're looking for a multi-bagger, there's a few things to keep an eye out for. 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. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Speaking of which, we noticed some great changes in Zhongshan Broad-Ocean Motor's (SZSE:002249) returns on capital, so let's have a look.
如果你正在尋找一個潛力巨大的股票,有一些事情是需要關注的。在其他事情中,我們會想要看到兩件事情;首先,資本使用回報率(ROCE)的增長,其次,公司資本使用量的擴張。基本上這意味着公司有利潤的舉措可以繼續進行再投資,這是一個複利機器的特徵。說到這一點,我們注意到了中山大洋電機(SZSE:002249)的資本回報率有一些很好的變化,所以讓我們來看看。
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 Zhongshan Broad-Ocean Motor:
對於那些不確定ROCE是什麼的人,它衡量的是公司可以從經營中使用的資本所產生的稅前利潤的數量。分析師使用這個公式來計算中山大洋電機的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。
0.063 = CN¥627m ÷ (CN¥17b - CN¥6.8b) (Based on the trailing twelve months to March 2024).
0.063 = 62700萬人民幣 ÷ (170億人民幣 - 6.8億人民幣)(基於2024年3月的過去十二個月)。
Therefore, Zhongshan Broad-Ocean Motor has an ROCE of 6.3%. Even though it's in line with the industry average of 6.0%, it's still a low return by itself.
因此,中山大洋電機的ROCE爲6.3%。儘管它與行業平均值6.0%相符,但它本身的回報率仍然偏低。
![1724384983861](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240823/42771022-0-40eaa2f31735a015408094164b1fb261.webp/bigjpg)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Zhongshan Broad-Ocean Motor's ROCE against it's prior returns. If you want to delve into the historical earnings , check out these free graphs detailing revenue and cash flow performance of Zhongshan Broad-Ocean Motor.
歷史業績是研究股票的好起點,所以您可以在上面看到中山大洋電機ROCE指標與其過去回報的對比。如果您想深入了解歷史收益,請查看這些免費圖表,詳細描述中山大洋電機的營業收入和現金流表現。
What Can We Tell From Zhongshan Broad-Ocean Motor's ROCE Trend?
我們從中山大洋電機的ROCE趨勢中能得到什麼信息?
We're delighted to see that Zhongshan Broad-Ocean Motor is reaping rewards from its investments and has now broken into profitability. The company now earns 6.3% on its capital, because five years ago it was incurring losses. While returns have increased, the amount of capital employed by Zhongshan Broad-Ocean Motor has remained flat over the period. That being said, while an increase in efficiency is no doubt appealing, it'd be helpful to know if the company does have any investment plans going forward. After all, a company can only become a long term multi-bagger if it continually reinvests in itself at high rates of return.
我們很高興看到中山大洋電機正在從其投資中獲得回報,並且現在已經盈利。該公司的資本回報率爲6.3%,因爲五年前該公司一直在虧損。雖然回報率有所增加,但中山大洋電機所使用的資本量在這段時間內保持平穩。話雖如此,雖然效率提高無疑很吸引人,但了解一下公司是否有任何投資計劃會很有幫助。畢竟,只有在高回報率下不斷對自身進行再投資,公司才能成爲長期的多倍增長者。
On a side note, Zhongshan Broad-Ocean Motor's current liabilities are still rather high at 40% of total assets. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.
順便說一下,中山大洋電機的流動負債佔總資產的40%,仍然相當高。這可能帶來一些風險,因爲該公司基本上是依賴其供應商或其他形式的短期債權人進行運營的。雖然這不一定是壞事,但如果這個比例較低會更有益。
Our Take On Zhongshan Broad-Ocean Motor's ROCE
我們對中山大洋電機的ROCE的看法
In summary, we're delighted to see that Zhongshan Broad-Ocean Motor has been able to increase efficiencies and earn higher rates of return on the same amount of capital. Investors may not be impressed by the favorable underlying trends yet because over the last five years the stock has only returned 22% to shareholders. Given that, we'd look further into this stock in case it has more traits that could make it multiply in the long term.
總之,我們很高興看到中山大洋電機能夠在相同的資本量上提高效率並獲得更高的回報率。投資者可能對這些積極趨勢還不滿意,因爲在過去五年裏,該股票只給股東帶來了22%的回報。鑑於這一點,我們會進一步研究這支股票,以確定它是否具有更多可能在長期內倍增的特徵。
If you want to continue researching Zhongshan Broad-Ocean Motor, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果您想繼續研究大洋電機,您可能對我們的分析發現的1個警示信號感興趣。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
Hao Tian International Construction Investment Group確實存在一些風險,我們已經發現了一條警示標誌,你可能會感興趣。對於那些喜歡投資於實力雄厚的公司的人,可以查看這個由財務狀況強大、股本回報率高的公司組成的免費列表。
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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。