Here's What To Make Of Jonjee Hi-Tech Industrial and Commercial HoldingLtd's (SHSE:600872) Decelerating Rates Of Return
Here's What To Make Of Jonjee Hi-Tech Industrial and Commercial HoldingLtd's (SHSE:600872) Decelerating Rates Of Return
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. In light of that, when we looked at Jonjee Hi-Tech Industrial and Commercial HoldingLtd (SHSE:600872) and its ROCE trend, we weren't exactly thrilled.
如果你正在寻找一款多功能装袋机,有几件事需要注意。通常,我们希望注意到增长的趋势 返回 在资本使用率(ROCE)方面,除此之外,还在扩大 基础 已动用资本的百分比。归根结底,这表明这是一家以更高的回报率对利润进行再投资的企业。有鉴于此,当我们查看Jonjee Hichtech Industrial and Commercial HoldingLtd(SHSE: 600872)及其投资回报率趋势时,我们并不感到非常兴奋。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (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 Jonjee Hi-Tech Industrial and Commercial HoldingLtd, this is the formula:
如果你以前没有与ROCE合作过,它可以衡量一家公司从其业务中使用的资本中产生的 “回报”(税前利润)。要计算 Jonjee Hichtech 工商控股有限公司的这个指标,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)
0.13 = CN¥679m ÷ (CN¥6.6b - CN¥1.3b) (Based on the trailing twelve months to September 2023).
0.13 = 人民币 6.79 亿元 ¼(CN¥66B-CN¥1.3b) (基于截至2023年9月的过去十二个月)。
Thus, Jonjee Hi-Tech Industrial and Commercial HoldingLtd has an ROCE of 13%. In absolute terms, that's a satisfactory return, but compared to the Food industry average of 7.6% it's much better.
因此,Jonjee Hictech工商控股有限公司的投资回报率为13%。从绝对值来看,这是一个令人满意的回报,但与食品行业7.6%的平均水平相比,要好得多。
See our latest analysis for Jonjee Hi-Tech Industrial and Commercial HoldingLtd
查看我们对 Jonjee Heitech 工商控股有限公司的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231103/0-c73a5ca74ad92612a35d01a7a061635c-0-bea1b423e455f324f11c6e76f89b14b7.png/big)
In the above chart we have measured Jonjee Hi-Tech Industrial and Commercial HoldingLtd'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 report for Jonjee Hi-Tech Industrial and Commercial HoldingLtd.
在上面的图表中,我们对Jonjee Hichtech Industrial and Commercial HoldingLtd之前的投资回报率与之前的表现进行了比较,但可以说,未来更为重要。如果你想了解分析师对未来的预测,你应该查看我们为Jonjee Hichtech Industrial and Commercial HoldingLtd提供的免费报告。
What The Trend Of ROCE Can Tell Us
ROCE 的趋势能告诉我们什么
Things have been pretty stable at Jonjee Hi-Tech Industrial and Commercial HoldingLtd, with its capital employed and returns on that capital staying somewhat the same for the last five years. It's not uncommon to see this when looking at a mature and stable business that isn't re-investing its earnings because it has likely passed that phase of the business cycle. With that in mind, unless investment picks up again in the future, we wouldn't expect Jonjee Hi-Tech Industrial and Commercial HoldingLtd to be a multi-bagger going forward. With fewer investment opportunities, it makes sense that Jonjee Hi-Tech Industrial and Commercial HoldingLtd has been paying out a decent 35% of its earnings to shareholders. Given the business isn't reinvesting in itself, it makes sense to distribute a portion of earnings among shareholders.
Jonjee Hichtech Industrial and Commercial HoldingLtd的情况一直相当稳定,在过去五年中,其使用资本和资本回报率基本保持不变。当看一家成熟而稳定的企业时,看到这种情况并不少见,因为该企业可能已经度过了商业周期的这一阶段,因此没有对收益进行再投资。考虑到这一点,除非将来投资再次回升,否则我们预计Jonjee Hichtech Industrial and Commercial HoldingLtd在未来不会成为多管齐下。由于投资机会较少,Jonjee Hichtech Industrial and Commercial HoldingLtd向股东支付了可观的35%的收益是有道理的。鉴于企业本身并未进行再投资,因此将部分收益分配给股东是有意义的。
The Key Takeaway
关键要点
In summary, Jonjee Hi-Tech Industrial and Commercial HoldingLtd isn't compounding its earnings but is generating stable returns on the same amount of capital employed. And with the stock having returned a mere 31% in the last five years to shareholders, you could argue that they're aware of these lackluster trends. As a result, if you're hunting for a multi-bagger, we think you'd have more luck elsewhere.
总而言之,Jonjee Hichtech Industrial and Commercial HoldingLtd并没有复利,而是在使用相同数额的资本上产生稳定的回报。而且,在过去五年中,该股向股东的回报率仅为31%,你可以说他们意识到这些乏善可陈的趋势。因此,如果你正在寻找一款多功能装袋,我们认为你在其他地方运气会更好。
On a separate note, we've found 1 warning sign for Jonjee Hi-Tech Industrial and Commercial HoldingLtd you'll probably want to know about.
另一方面,我们发现了你可能想知道的Jonjee Hichtech Industrial and Commercial HoldingLtd的1个警告信号。
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.
对于那些喜欢投资稳健公司的人,可以查看这份资产负债表稳健和股本回报率高的公司的免费清单。
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.
对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。