Jiangsu ZongyiLTD (SHSE:600770) Might Have The Makings Of A Multi-Bagger
Jiangsu ZongyiLTD (SHSE:600770) Might Have The Makings Of A Multi-Bagger
What are the early trends we should look for to identify a stock that could multiply in value over the long term? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. So when we looked at Jiangsu ZongyiLTD (SHSE:600770) and its trend of ROCE, we really liked what we saw.
我们应该寻找哪些早期趋势来识别一只可能在长期内成倍增值的股票?在一个完美的世界里,我们希望看到一家公司向其业务投入更多资本,理想情况下,从这些资本中赚取的回报也在增加。如果你看到这个,通常意味着它是一家拥有出色商业模式和大量有利可图的再投资机会的公司。所以当我们看着江苏宗义LTD(上海证券交易所:600770)和它的ROCE趋势,我们真的很喜欢我们看到的。
What Is Return On Capital Employed (ROCE)?
什么是资本回报率(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 Jiangsu ZongyiLTD, this is the formula:
对于那些不知道的人来说,ROCE是一家公司的年度税前利润(其回报)相对于业务资本的衡量标准。要计算江苏宗怡LTD的这一指标,公式如下:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已动用资本回报率=息税前收益(EBIT)?(总资产-流动负债)
0.0018 = CN¥9.1m ÷ (CN¥5.5b - CN¥533m) (Based on the trailing twelve months to March 2023).
0.0018=CN元910万?(CN元55亿-CN元5.33亿)(根据截至2023年3月的往绩12个月计算)。
Thus, Jiangsu ZongyiLTD has an ROCE of 0.2%. In absolute terms, that's a low return and it also under-performs the Semiconductor industry average of 4.7%.
因此,江苏宗益LTD的净资产收益率为0.2%。按绝对值计算,这是一个较低的回报率,也低于4.7%的半导体行业平均水平。
Check out our latest analysis for Jiangsu ZongyiLTD
查看我们对江苏宗怡LTD的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20230804/0-16058290620f791c7aa3ac89bf9de3e4-0-2eb9ecb44c8d6c78d292522c98276a12.png/big)
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'd like to look at how Jiangsu ZongyiLTD has performed in the past in other metrics, you can view this free graph of past earnings, revenue and cash flow.
虽然过去并不代表未来,但了解一家公司历史上的表现是有帮助的,这就是为什么我们有上面的图表。如果你想看看江苏宗怡LTD过去在其他指标上的表现,你可以查看以下内容免费过去收益、收入和现金流的图表。
What Can We Tell From Jiangsu ZongyiLTD's ROCE Trend?
我们能从江苏宗益LTD的ROCE趋势中看出什么?
We're delighted to see that Jiangsu ZongyiLTD is reaping rewards from its investments and has now broken into profitability. While the business was unprofitable in the past, it's now turned things around and is earning 0.2% on its capital. While returns have increased, the amount of capital employed by Jiangsu ZongyiLTD has remained flat over the period. With no noticeable increase in capital employed, it's worth knowing what the company plans on doing going forward in regards to reinvesting and growing the business. So if you're looking for high growth, you'll want to see a business's capital employed also increasing.
我们很高兴地看到,江苏宗怡股份有限公司正在从投资中获得回报,现在已经实现了盈利。虽然这项业务过去是无利可图的,但现在它已经扭亏为盈,资本回报率为0.2%。尽管回报有所增加,但江苏宗益股份有限公司在此期间的资本额保持不变。在资本投入没有明显增加的情况下,了解公司未来在再投资和发展业务方面的计划是值得的。因此,如果你在寻找高增长,你会希望看到一家企业的资本投入也在增加。
One more thing to note, Jiangsu ZongyiLTD has decreased current liabilities to 9.8% of total assets over this period, which effectively reduces the amount of funding from suppliers or short-term creditors. Therefore we can rest assured that the growth in ROCE is a result of the business' fundamental improvements, rather than a cooking class featuring this company's books.
还有一点需要注意的是,江苏宗益股份有限公司在此期间将流动负债降至总资产的9.8%,这有效地减少了来自供应商或短期债权人的资金。因此,我们可以放心,ROCE的增长是业务根本改善的结果,而不是以该公司的书籍为特色的烹饪课程。
The Key Takeaway
关键的外卖
In summary, we're delighted to see that Jiangsu ZongyiLTD has been able to increase efficiencies and earn higher rates of return on the same amount of capital. And given the stock has remained rather flat over the last five years, there might be an opportunity here if other metrics are strong. With that in mind, we believe the promising trends warrant this stock for further investigation.
总而言之,我们很高兴看到江苏宗益股份有限公司能够提高效率,并在相同的资本金额下获得更高的回报率。考虑到该股在过去五年中一直相当持平,如果其他指标表现强劲,可能会有机会。考虑到这一点,我们认为前景看好的趋势需要对这只股票进行进一步的调查。
One more thing to note, we've identified 1 warning sign with Jiangsu ZongyiLTD and understanding this should be part of your investment process.
还有一件事需要注意,我们已经确定了1个警告标志与江苏宗怡LTD合作,并理解这应该是您投资过程的一部分。
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.
如果你想寻找收入丰厚的可靠公司,看看这个免费拥有良好资产负债表和可观股本回报率的公司名单。
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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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本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。