Investors Will Want COSCO SHIPPING Energy Transportation's (HKG:1138) Growth In ROCE To Persist
Investors Will Want COSCO SHIPPING Energy Transportation's (HKG:1138) Growth In ROCE To Persist
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. 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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Speaking of which, we noticed some great changes in COSCO SHIPPING Energy Transportation's (HKG:1138) returns on capital, so let's have a look.
如果你在尋找下一款多袋裝機時不確定從哪裏開始,那麼你應該注意一些關鍵趨勢。一種常見的方法是嘗試尋找一家動用資本回報率(ROCE)不斷增加且所用資本不斷增加的公司。簡而言之,這些類型的企業是複合機器,這意味着他們不斷以更高的回報率對收益進行再投資。說到這裏,我們注意到中遠海運能源運輸(HKG: 1138)的資本回報率發生了一些重大變化,所以讓我們來看看吧。
Understanding Return On Capital Employed (ROCE)
了解已動用資本回報率 (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. To calculate this metric for COSCO SHIPPING Energy Transportation, this is the formula:
如果你以前沒有與ROCE合作過,它會衡量公司從其業務中使用的資本中產生的 「回報」(稅前利潤)。要計算中遠海運能源運輸的這個指標,公式如下:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已動用資本回報率 = 息稅前收益(EBIT)÷(總資產-流動負債)
0.078 = CN¥5.2b ÷ (CN¥75b - CN¥8.1b) (Based on the trailing twelve months to September 2024).
0.078 = 52元人民幣 ÷(750元人民幣-8.1億元人民幣)(基於截至2024年9月的過去十二個月)。
Therefore, COSCO SHIPPING Energy Transportation has an ROCE of 7.8%. On its own, that's a low figure but it's around the 6.9% average generated by the Oil and Gas industry.
因此,中遠海運能源運輸的投資回報率爲7.8%。就其本身而言,這是一個很低的數字,但約爲石油和天然氣行業的6.9%的平均水平。
In the above chart we have measured COSCO SHIPPING Energy Transportation's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for COSCO SHIPPING Energy Transportation .
在上圖中,我們將中遠海運能源運輸先前的投資回報率與之前的表現進行了對比,但可以說,未來更爲重要。如果你想了解分析師對未來的預測,你應該查看我們關於中遠海運能源運輸的免費分析師報告。
How Are Returns Trending?
退貨趨勢如何?
While in absolute terms it isn't a high ROCE, it's promising to see that it has been moving in the right direction. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 7.8%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 25%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
儘管從絕對值來看,它並不是一個很高的投資回報率,但它有望看到它一直在朝着正確的方向前進。數字顯示,在過去五年中,所用資本的回報率已大幅增長至7.8%。實際上,該公司每使用1美元資本就能賺更多的錢,值得注意的是,資本金額也增加了25%。越來越多的資本所帶來的回報率不斷增加在多袋公司中很常見,這就是爲什麼我們印象深刻的原因。
The Key Takeaway
關鍵要點
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what COSCO SHIPPING Energy Transportation has. Since the stock has returned a staggering 102% to shareholders over the last five years, it looks like investors are recognizing these changes. 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.
一家資本回報率不斷提高且能夠持續進行自我再投資的公司是一個備受追捧的特徵,而這正是中遠海運能源運輸所擁有的。由於該股在過去五年中向股東回報了驚人的102%,因此投資者似乎已經意識到了這些變化。因此,鑑於該股已證明其趨勢令人鼓舞,值得進一步研究該公司,看看這些趨勢是否可能持續下去。
One more thing, we've spotted 3 warning signs facing COSCO SHIPPING Energy Transportation that you might find interesting.
還有一件事,我們發現了面向中遠海運能源運輸的3個警告標誌,你可能會覺得有趣。
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.
如果您想尋找收益豐厚的穩健公司,請查看這份免費的資產負債表良好和可觀的股本回報率的公司名單。
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.
對這篇文章有反饋嗎?擔心內容嗎?直接聯繫我們。或者,發送電子郵件給編輯組(網址爲)simplywallst.com。
Simply Wall St 的這篇文章本質上是籠統的。我們僅使用公正的方法提供基於歷史數據和分析師預測的評論,我們的文章並非旨在提供財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不會考慮最新的價格敏感型公司公告或定性材料。華爾街只是沒有持有上述任何股票的頭寸。