Some Investors May Be Worried About Suzhou Chunqiu Electronic Technology's (SHSE:603890) Returns On Capital
Some Investors May Be Worried About Suzhou Chunqiu Electronic Technology's (SHSE:603890) Returns On Capital
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base 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. Although, when we looked at Suzhou Chunqiu Electronic Technology (SHSE:603890), it didn't seem to tick all of these boxes.
你知道嗎,有一些財務指標可以提供潛在的多管齊下的線索?通常,我們會注意到一種增長的趨勢退貨關於已使用資本(ROCE)以及與之相伴隨的是不斷擴大的基地已動用資本的比例。如果你看到這個,通常意味著它是一家擁有出色商業模式和大量有利可圖的再投資機會的公司。雖然,當我們看到秀克州春秋電子科技(上海證券交易所:603890),它似乎沒有勾選所有這些框。
What Is Return On Capital Employed (ROCE)?
什麼是資本回報率(ROCE)?
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. The formula for this calculation on Suzhou Chunqiu Electronic Technology is:
對於那些不確定ROCE是什麼的人,它衡量的是一家公司可以從其業務中使用的資本產生的稅前利潤。秀克州春秋電子科技的這一計算公式為:
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)
0.015 = CN¥55m ÷ (CN¥5.5b - CN¥1.8b) (Based on the trailing twelve months to June 2023).
0.015=CN元5500萬?(CN元55億-CN元18億)(根據截至2023年6月的往績12個月計算)。
Thus, Suzhou Chunqiu Electronic Technology has an ROCE of 1.5%. In absolute terms, that's a low return and it also under-performs the Electronic industry average of 5.3%.
因此,秀克州春秋電子科技的淨資產收益率為1.5%。按絕對值計算,這是一個較低的回報率,也低於電子行業5.3%的平均水準。
Check out our latest analysis for Suzhou Chunqiu Electronic Technology
查看我們對秀克州春秋電子科技的最新分析

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 want to delve into the historical earnings, revenue and cash flow of Suzhou Chunqiu Electronic Technology, check out these free graphs here.
雖然過去並不代表未來,但瞭解一家公司歷史上的表現是有幫助的,這就是為什麼我們有上面的圖表。如果你想深入研究秀克州春秋電子科技的歷史收益、收入和現金流,請查看以下內容免費圖表在這裡。
What Does the ROCE Trend For Suzhou Chunqiu Electronic Technology Tell Us?
秀克州春秋電子的ROCE趨勢告訴我們什麼?
In terms of Suzhou Chunqiu Electronic Technology's historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 1.5% from 13% five years ago. Given the business is employing more capital while revenue has slipped, this is a bit concerning. If this were to continue, you might be looking at a company that is trying to reinvest for growth but is actually losing market share since sales haven't increased.
就秀克州春秋電子科技歷史上的ROCE運動而言,這一趨勢並不美妙。過去五年,資本回報率從五年前的13%降至1.5%。考慮到該公司在收入下滑的情況下僱傭了更多的資本,這有點令人擔憂。如果這種情況持續下去,你可能會看到這樣一家公司,它正試圖通過再投資實現增長,但由於銷售額沒有增長,實際上正在失去市場份額。
What We Can Learn From Suzhou Chunqiu Electronic Technology's ROCE
我們可以從秀克州春秋電子的ROCE中學到什麼
We're a bit apprehensive about Suzhou Chunqiu Electronic Technology because despite more capital being deployed in the business, returns on that capital and sales have both fallen. But investors must be expecting an improvement of sorts because over the last five yearsthe stock has delivered a respectable 56% return. In any case, the current underlying trends don't bode well for long term performance so unless they reverse, we'd start looking elsewhere.
我們對秀克州春秋電子科技有點擔心,因為儘管有更多的資本投入到該業務中,但資本回報率和銷售額都有所下降。但投資者肯定預計會有所改善,因為在過去的五年裡,該股實現了56%的可觀回報率。無論如何,目前的潛在趨勢對長期表現來說都不是好兆頭,所以除非它們逆轉,否則我們將開始尋找其他地方。
Like most companies, Suzhou Chunqiu Electronic Technology does come with some risks, and we've found 3 warning signs that you should be aware of.
像大多數公司一樣,秀克州春秋電子科技確實存在一些風險,我們發現3個警示標誌這一點你應該知道.
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.
如果你想尋找收入豐厚的可靠公司,看看這個免費擁有良好資產負債表和可觀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.
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫.或者,也可以給編輯組發電子郵件,地址是暗示Wallst.com。
本文由Simply Wall St.撰寫,具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.