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Investors Will Want Zhongnongfa Seed Industry Group's (SHSE:600313) Growth In ROCE To Persist

Investors Will Want Zhongnongfa Seed Industry Group's (SHSE:600313) Growth In ROCE To Persist

投資者將希望農發種業(SHSE:600313)的ROCE增長持續。
Simply Wall St ·  2024/12/03 11:50

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. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. Speaking of which, we noticed some great changes in Zhongnongfa Seed Industry Group's (SHSE:600313) returns on capital, so let's have a look.

如果你在尋找多倍投資,需注意幾點事項。在其他方面,我們希望看到兩個方面;首先是資本回報率(ROCE)的增長,其次是公司所使用資本的增加。如果你看到這些,通常意味着這是一家擁有優秀業務模型和豐厚盈利再投資機會的公司。關於這一點,我們注意到農發種業(SHSE:600313)在資本回報方面出現了一些重大變化,所以讓我們來看一下。

Understanding Return On Capital Employed (ROCE)

理解已投資資本回報率(ROCE)

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 Zhongnongfa Seed Industry Group is:

如果你以前沒有接觸過ROCE,它衡量的是公司從其業務中使用資本所產生的「回報」(稅前利潤)。農發種業的計算公式爲:

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)

0.02 = CN¥70m ÷ (CN¥5.2b - CN¥1.8b) (Based on the trailing twelve months to September 2024).

0.02 = CN¥7000萬 ÷ (CN¥52億 - CN¥1.8b)(基於截至2024年9月的過去12個月)。

Therefore, Zhongnongfa Seed Industry Group has an ROCE of 2.0%. In absolute terms, that's a low return and it also under-performs the Chemicals industry average of 5.4%.

因此,農發種業的ROCE爲2.0%。從絕對值來看,這是一個較低的回報,並且低於化學品行業平均的5.4%。

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SHSE:600313 Return on Capital Employed December 3rd 2024
SHSE:600313 資本回報率 2024年12月3日

Historical performance is a great place to start when researching a stock so above you can see the gauge for Zhongnongfa Seed Industry Group'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 Zhongnongfa Seed Industry Group.

歷史表現是研究股票的一個好起點,因此在上面你可以看到農發種業的ROCE與其以前回報的對比。如果你想深入了解歷史收益,可以查看這些免費的圖表,詳細說明了農發種業的營業收入和現金流表現。

What Does the ROCE Trend For Zhongnongfa Seed Industry Group Tell Us?

農發種業的ROCE趨勢告訴我們什麼?

Even though ROCE is still low in absolute terms, it's good to see it's heading in the right direction. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 2.0%. The amount of capital employed has increased too, by 55%. So we're very much inspired by what we're seeing at Zhongnongfa Seed Industry Group thanks to its ability to profitably reinvest capital.

儘管ROCE在絕對值上仍然較低,但看到它朝着正確的方向發展是件好事。數據表明,在過去五年中,投入資本的回報顯著增長至2.0%。投入的資本也增加了55%。因此,我們對農發種業所顯示的投資回報能力感到鼓舞。

The Bottom Line On Zhongnongfa Seed Industry Group's ROCE

農發種業ROCE的底線

To sum it up, Zhongnongfa Seed Industry Group has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.

總而言之,農發種業已經證明它能夠再投資於業務並在投入的資本上獲得更高的回報,這非常好。由於該股票在過去五年表現優異,投資者也在關注這些趨勢。因此,鑑於該股票已經證明了其良好的趨勢,進一步研究公司值得,以查看這些趨勢是否可能持續。

Like most companies, Zhongnongfa Seed Industry Group does come with some risks, and we've found 2 warning signs that you should be aware of.

與大多數公司一樣,農發種業也存在一些風險,我們發現有2個警告信號是你需要注意的。

While Zhongnongfa Seed Industry Group may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.

雖然農發種業目前可能沒有賺取最高的回報,但我們整理了一份目前回報率超過25%的公司的名單。請在這裏查看這份免費的名單。

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.

對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
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。

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