Many Would Be Envious Of Himile Mechanical Science and Technology (Shandong)'s (SZSE:002595) Excellent Returns On Capital
Many Would Be Envious Of Himile Mechanical Science and Technology (Shandong)'s (SZSE:002595) Excellent Returns On Capital
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. So, when we ran our eye over Himile Mechanical Science and Technology (Shandong)'s (SZSE:002595) trend of ROCE, we really liked what we saw.
如果您不確定從哪裏開始尋找下一個翻倍投資的機會,有幾個關鍵趨勢值得您關注。通常,我們希望注意到資本回報率(ROCE)不斷增長的趨勢,以及資本投入基礎的擴展。這向我們展示了它是一個複合增長的機器,能夠不斷將收益再投資回業務中並創造更高的回報。因此,當我們觀察豪邁科技(山東)(SZSE:002595)的ROCE趨勢時,我們非常喜歡所看到的。
What Is Return On Capital Employed (ROCE)?
什麼是資本回報率(ROCE)?
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 Himile Mechanical Science and Technology (Shandong), this is the formula:
對於那些不知情的人來說,ROCE是公司年度稅前利潤(即回報)相對於投入業務的資本的衡量標準。要計算豪邁科技(山東)的這個指標,公式如下:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
資本利用率 = 利息和稅前利潤(EBIT) ÷ (總資產 - 流動負債)
0.21 = CN¥2.0b ÷ (CN¥11b - CN¥1.4b) (Based on the trailing twelve months to September 2024).
0.21 = CN¥20億 ÷ (CN¥110億 - CN¥1.4億)(基於截至2024年9月的過去十二個月)。
Therefore, Himile Mechanical Science and Technology (Shandong) has an ROCE of 21%. That's a fantastic return and not only that, it outpaces the average of 5.4% earned by companies in a similar industry.
因此,豪邁科技(山東)的ROCE爲21%。這是一項非常棒的回報,不僅如此,它還超過了類似行業公司平均5.4%的回報。
In the above chart we have measured Himile Mechanical Science and Technology (Shandong)'s prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Himile Mechanical Science and Technology (Shandong) for free.
在上面的圖表中,我們測量了豪邁科技(山東)之前的資本回報率(ROCE)與其以前的表現,但未來顯然更爲重要。如果您願意,可以免費查看覆蓋豪邁科技(山東)的分析師的預測。
What The Trend Of ROCE Can Tell Us
ROCE的趨勢可以告訴我們什麼
We'd be pretty happy with returns on capital like Himile Mechanical Science and Technology (Shandong). Over the past five years, ROCE has remained relatively flat at around 21% and the business has deployed 106% more capital into its operations. Returns like this are the envy of most businesses and given it has repeatedly reinvested at these rates, that's even better. You'll see this when looking at well operated businesses or favorable business models.
我們對豪邁科技(山東)這樣的資本回報率感到相當滿意。在過去五年中,ROCE保持在大約21%的相對平穩水平,而該業務已經投入了106%更多的資本到其運營中。這樣的回報讓大多數企業羨慕,並且考慮到它在這些水平上不斷進行再投資,那就更好了。當您查看經營良好的企業或有利的商業模式時,您會看到這一點。
On a side note, Himile Mechanical Science and Technology (Shandong) has done well to reduce current liabilities to 12% of total assets over the last five years. Effectively suppliers now fund less of the business, which can lower some elements of risk.
順便提一下,豪邁科技(山東)在過去五年中成功地將流動負債減少到總資產的12%。實際上,現在供應商爲該業務提供的資金更少,這可以降低某些風險因素。
What We Can Learn From Himile Mechanical Science and Technology (Shandong)'s ROCE
我們可以從豪邁科技(山東)的ROCE中學到什麼
Himile Mechanical Science and Technology (Shandong) has demonstrated its proficiency by generating high returns on increasing amounts of capital employed, which we're thrilled about. And long term investors would be thrilled with the 172% return they've received over the last five years. So while the positive underlying trends may be accounted for by investors, we still think this stock is worth looking into further.
豪邁科技(山東)通過在增加的資本投入上產生高回報,展示了其卓越的能力,這讓我們感到非常高興。而長期投資者在過去五年中獲得了172%的回報,這讓人振奮。因此,儘管投資者可能已經考慮了積極的基礎趨勢,我們仍然認爲這個股票值得進一步關注。
One more thing to note, we've identified 1 warning sign with Himile Mechanical Science and Technology (Shandong) and understanding this should be part of your investment process.
還有一件事需要注意,我們已經發現了豪邁科技(山東)1個警告信號,了解這一點應該是你投資過程的一部分。
If you want to search for more stocks that have been earning high returns, check out this free list of stocks with solid balance sheets that are also earning high returns on equity.
如果你想尋找更多高回報的股票,可以查看這份免費列表,這些股票的資產負債表穩健,同時股本回報率也很高。
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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.
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這篇來自Simply Wall St的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St在提到的任何股票中均沒有持倉。