Zhejiang Wellsun Intelligent TechnologyLtd (SZSE:300882) Will Want To Turn Around Its Return Trends
Zhejiang Wellsun Intelligent TechnologyLtd (SZSE:300882) Will Want To Turn Around Its Return Trends
There are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount 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 briefly looking over the numbers, we don't think Zhejiang Wellsun Intelligent TechnologyLtd (SZSE:300882) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
如果我們想要識別下一個多倍回報的公司,有幾個關鍵趨勢需要關注。一個常見的方法是嘗試找到一個資本回報率(ROCE)不斷增長,且使用的資本量也在增長的公司。如果你看到這種情況,這通常意味着這是一個業務模型優秀且擁有大量盈利再投資機會的公司。 然而,在簡單查看了一下數字後,我們認爲浙江威爾遜智能科技有限公司(SZSE:300882)未來並沒有成爲多倍回報公司的潛質,但讓我們來看看爲什麼可能是這樣。
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 Zhejiang Wellsun Intelligent TechnologyLtd, this is the formula:
對於那些不知道的人來說,ROCE是公司每年的稅前利潤(其回報)相對於在業務中使用的資本的衡量標準。要計算浙江威爾遜智能科技有限公司的這一指標,使用以下公式:
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)
0.13 = CN¥148m ÷ (CN¥1.5b - CN¥370m) (Based on the trailing twelve months to September 2024).
0.13 = CN¥14800萬 ÷ (CN¥15億 - CN¥370m)(基於到2024年9月的過去12個月)。
So, Zhejiang Wellsun Intelligent TechnologyLtd has an ROCE of 13%. On its own, that's a standard return, however it's much better than the 5.5% generated by the Electronic industry.
因此,浙江威爾遜智能科技有限公司的ROCE爲13%。這本身算是一個標準的回報,但遠好於電子行業所產生的5.5%。
Historical performance is a great place to start when researching a stock so above you can see the gauge for Zhejiang Wellsun Intelligent TechnologyLtd'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 Zhejiang Wellsun Intelligent TechnologyLtd.
歷史表現是研究股票的一個好起點,因此在上面您可以看到浙江威爾森智能科技有限公司的資本回報率與其過去收益的比較。如果您想深入了解歷史收益,請查看這些免費的圖表,詳細說明浙江威爾森智能科技有限公司的營業收入和現金流表現。
What Does the ROCE Trend For Zhejiang Wellsun Intelligent TechnologyLtd Tell Us?
浙江威爾森智能科技有限公司的資本回報率趨勢告訴我們什麼?
On the surface, the trend of ROCE at Zhejiang Wellsun Intelligent TechnologyLtd doesn't inspire confidence. Around five years ago the returns on capital were 21%, but since then they've fallen to 13%. Given the business is employing more capital while revenue has slipped, this is a bit concerning. This could mean that the business is losing its competitive advantage or market share, because while more money is being put into ventures, it's actually producing a lower return - "less bang for their buck" per se.
乍一看,浙江威爾森智能科技有限公司的資本回報率趨勢並不令人信服。大約五年前,資本收益率爲21%,但此後下降到13%。鑑於該業務正在投入更多資本,而營業收入卻下滑,這有點令人擔憂。這可能意味着該業務正在失去其競爭優勢或市場份額,因爲投入更多資金的項目實際上產生了更低的回報——可以說就是「錢花得少了」。
On a related note, Zhejiang Wellsun Intelligent TechnologyLtd has decreased its current liabilities to 24% of total assets. That could partly explain why the ROCE has dropped. Effectively this means their suppliers or short-term creditors are funding less of the business, which reduces some elements of risk. Some would claim this reduces the business' efficiency at generating ROCE since it is now funding more of the operations with its own money.
順便提及,浙江威爾森智能科技有限公司已經將其流動負債降低到總資產的24%。這可能部分解釋了資本回報率的下降。實際上,這意味着他們的供應商或短期債權人對該業務的資助減少,進而降低了一些風險因素。有些人認爲這降低了該業務生成資本回報率的效率,因爲它現在用自己的資金資助更多的業務運營。
What We Can Learn From Zhejiang Wellsun Intelligent TechnologyLtd's ROCE
我們可以從浙江威爾森智能科技有限公司的資本回報率中學到什麼
From the above analysis, we find it rather worrisome that returns on capital and sales for Zhejiang Wellsun Intelligent TechnologyLtd have fallen, meanwhile the business is employing more capital than it was five years ago. Investors must expect better things on the horizon though because the stock has risen 10% in the last three years. Regardless, we don't like the trends as they are and if they persist, we think you might find better investments elsewhere.
從上述分析中,我們發現浙江威爾森智能科技有限公司的資本回報和銷售下降令人相當擔憂,同時該業務投入的資本比五年前更多。然而,投資者必須期待未來的好轉,因爲該股票在過去三年中上漲了10%。無論如何,我們對當前的趨勢並不滿意,如果這種情況持續下去,我們認爲您可能會在其他地方找到更好的投資機會。
On a separate note, we've found 1 warning sign for Zhejiang Wellsun Intelligent TechnologyLtd you'll probably want to know about.
另一個方面,我們發現了浙江威爾森智能科技有限公司的一個警告信號,您可能想知道。
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.
對於喜歡投資穩健公司的人,請查看這份具有穩健資產負債表和高權益回報的公司免費列表。
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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。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對提及的任何股票都沒有持倉。