Some Investors May Be Worried About Chongqing VDL Electronics' (SZSE:301121) Returns On Capital
Some Investors May Be Worried About Chongqing VDL Electronics' (SZSE:301121) Returns On Capital
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look 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. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Although, when we looked at Chongqing VDL Electronics (SZSE:301121), it didn't seem to tick all of these boxes.
如果我們想要找到一個能在長期內實現多倍增長的股票,我們應該關注哪些潛在趨勢?除了其他因素,我們希望看到兩件事;首先,資本僱用回報率(ROCE)不斷增長,其次,公司資本僱用量擴大。最終,這表明這是一家以增加的回報率再投資利潤的企業。儘管在我們看了重慶VDL Electronics(SZSE:301121)時,並沒有完全符合這些要求。
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。
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Chongqing VDL Electronics is:
如果您以前沒有接觸過ROCE,它衡量了公司從業務中使用的資本所產生的'回報'(稅前利潤)。在重慶VDL Electronics的計算公式如下:
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。
0.007 = CN¥12m ÷ (CN¥2.5b - CN¥702m) (Based on the trailing twelve months to June 2024).
0.007 = 1200萬人民幣 ÷ (250億人民幣 - 7.02億人民幣)(基於2024年6月的過去十二個月)。
Therefore, Chongqing VDL Electronics has an ROCE of 0.7%. In absolute terms, that's a low return and it also under-performs the Electrical industry average of 5.9%.
因此,重慶VDL Electronics的ROCE爲0.7%。從絕對值來看,這是一個低迴報,也低於電氣行業的平均回報率5.9%。
While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you're interested in investigating Chongqing VDL Electronics' past further, check out this free graph covering Chongqing VDL Electronics' past earnings, revenue and cash flow.
雖然過去不能代表未來,但了解一家公司歷史業績的表現可能會有所幫助,這就是我們爲什麼提供上面這張圖表。如果你有興趣進一步調查重慶VDL Electronics的過去,請查看涵蓋重慶VDL Electronics歷史收益、營業收入和現金流的免費圖表。
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。
In terms of Chongqing VDL Electronics' historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 0.7% from 17% five years ago. Although, given both revenue and the amount of assets employed in the business have increased, it could suggest the company is investing in growth, and the extra capital has led to a short-term reduction in ROCE. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
就重慶VDL Electronics的歷史ROCE變動而言,趨勢並不理想。在過去的五年中,資本回報率從五年前的17%降至0.7%。儘管營業收入和資產量均有所增加,這可能表明公司在投資增長,額外的資本導致了短期ROCE的降低。如果增加的資本帶來額外回報,企業和股東將從中受益。
The Bottom Line On Chongqing VDL Electronics' ROCE
關於重慶VDL Electronics的ROCE總結
While returns have fallen for Chongqing VDL Electronics in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. These trends don't appear to have influenced returns though, because the total return from the stock has been mostly flat over the last year. So we think it'd be worthwhile to look further into this stock given the trends look encouraging.
儘管重慶VDL Electronics的回報近來有所下降,我們很高興看到銷售額增長並且企業正在重新投資經營。然而,這些趨勢似乎並沒有影響回報,因爲股票的總回報在過去一年中基本持平。因此,我們認爲有必要進一步研究這支股票,因爲趨勢看起來令人鼓舞。
Chongqing VDL Electronics does come with some risks though, we found 3 warning signs in our investment analysis, and 1 of those is a bit unpleasant...
儘管重慶VDL Electronics存在一些風險,我們在投資分析中發現了3個警告信號,其中有一個有點令人不快...
While Chongqing VDL Electronics isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
雖然重慶VDL Electronics的回報率並不是最高的,請查看這份免費的公司列表,這些公司在資產負債表上有高回報率。
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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。