Shandong Xinjufeng Technology Packaging's (SZSE:301296) Returns On Capital Not Reflecting Well On The Business
Shandong Xinjufeng Technology Packaging's (SZSE:301296) Returns On Capital Not Reflecting Well On The Business
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? 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. However, after investigating Shandong Xinjufeng Technology Packaging (SZSE:301296), we don't think it's current trends fit the mold of a multi-bagger.
你知道有一些財務指標可以提供潛在的多倍收益的線索嗎?除其他事項外,我們將想要看到兩件事;首先,資本使用回報率(ROCE)的增長,其次是公司資本使用量的擴張。簡單地說,這些類型的企業是複利機器,這意味着它們不斷以越來越高的回報率重新投資他們的收益。然而,經過調查山東新聚豐科技包裝(SZSE:301296),我們認爲它目前的趨勢並不符合多倍收益的模式。
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 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 Shandong Xinjufeng Technology Packaging, this is the formula:
對於那些不了解的人,ROCE是衡量公司每年稅前利潤(其回報)與業務中使用的資本相關性的指標。 要爲山東新聚豐科技包裝計算這個指標,這是該公式:
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。
0.072 = CN¥183m ÷ (CN¥3.2b - CN¥687m) (Based on the trailing twelve months to June 2024).
0.072 = 1.83億元人民幣 ÷ (320000萬元 - 6870萬元) (基於截至2024年6月的過去十二個月)。
Thus, Shandong Xinjufeng Technology Packaging has an ROCE of 7.2%. In absolute terms, that's a low return, but it's much better than the Packaging industry average of 5.3%.
因此,山東新聚豐科技包裝的ROCE爲7.2%。 就絕對值而言,這是一個低迴報,但比包裝行業平均水平5.3%要好得多。
Above you can see how the current ROCE for Shandong Xinjufeng Technology Packaging 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 Shandong Xinjufeng Technology Packaging .
以上,你可以看到山東新炬峯科技包裝的當前ROCE與其先前資本回報率相比,但過去只能告訴你這麼多。如果你想了解分析師對未來的預測,應該查看我們針對山東新炬峯科技包裝的免費分析師報告。
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。
On the surface, the trend of ROCE at Shandong Xinjufeng Technology Packaging doesn't inspire confidence. To be more specific, ROCE has fallen from 15% over the last five years. 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's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
表面上,山東新炬峯科技包裝的ROCE趨勢並不令人信心滿滿。更具體地說,過去五年ROCE從15%下降了。另一方面,公司在過去一年中投入了更多資本,但銷售並未相應提升,這可能表明這些投資是長期的。從現在開始,值得密切關注公司的收益,以查看這些投資是否最終對底線產生貢獻。
What We Can Learn From Shandong Xinjufeng Technology Packaging's ROCE
我們可以從山東新炬峯科技包裝的ROCE中學到什麼
To conclude, we've found that Shandong Xinjufeng Technology Packaging is reinvesting in the business, but returns have been falling. And investors appear hesitant that the trends will pick up because the stock has fallen 48% in the last year. All in all, the inherent trends aren't typical of multi-baggers, so if that's what you're after, we think you might have more luck elsewhere.
總之,我們發現山東新炬峯科技包裝正在重新投資業務,但回報率卻在下降。投資者似乎不太確定趨勢會好轉,因爲該股去年下跌了48%。總的來說,這些潛在趨勢並不典型於多倍股,所以如果這是你追求的,我們認爲你可能在其他地方更幸運。
While Shandong Xinjufeng Technology Packaging doesn't shine too bright in this respect, it's still worth seeing if the company is trading at attractive prices. You can find that out with our FREE intrinsic value estimation for 301296 on our platform.
雖然山東新炬峯科技包裝在這方面表現並不出色,但仍值得看看該公司是否以有吸引力的價格交易。你可以在我們平台上找到針對301296的免費內在價值估算。
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。
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。