Returns On Capital Signal Tricky Times Ahead For Huada Automotive TechnologyLtd (SHSE:603358)
Returns On Capital Signal Tricky Times Ahead For Huada Automotive TechnologyLtd (SHSE:603358)
There are a few key trends to look for if we want to identify the next multi-bagger. 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. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Having said that, from a first glance at Huada Automotive TechnologyLtd (SHSE:603358) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
如果我們想確定下一個多功能裝袋機,有一些關鍵趨勢需要關注。除其他外,我們希望看到兩件事;首先,成長 返回 論資本使用率(ROCE),其次是公司的擴張 金額 已動用資本的百分比。基本上,這意味着一家公司有可以繼續進行再投資的盈利計劃,這是複合機的一個特徵。話雖如此,乍一看華達汽車技術有限公司(SHSE: 603358),我們並不是在忽視回報趨勢,而是讓我們更深入地了解一下。
Return On Capital Employed (ROCE): What Is It?
資本使用回報率(ROCE):這是什麼?
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. To calculate this metric for Huada Automotive TechnologyLtd, this is the formula:
如果您不確定,可以澄清一下,ROCE是評估公司從投資於其業務的資本中獲得多少稅前收入(按百分比計算)的指標。要計算華達汽車科技有限公司的這個指標,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)
0.066 = CN¥254m ÷ (CN¥6.3b - CN¥2.5b) (Based on the trailing twelve months to September 2023).
0.066 = 2.54 億元人民幣 ¼(CN¥6.3b-cn¥2.5b) (基於截至2023年9月的過去十二個月)。
Therefore, Huada Automotive TechnologyLtd has an ROCE of 6.6%. On its own, that's a low figure but it's around the 5.8% average generated by the Auto Components industry.
因此,華達汽車科技有限公司的投資回報率爲6.6%。就其本身而言,這是一個很低的數字,但約爲汽車零部件行業產生的5.8%的平均水平。
Check out our latest analysis for Huada Automotive TechnologyLtd
查看我們對華大汽車技術有限公司的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231129/0-93aad50aec48f49e0a46035938fc4373-0-73cc66efb4573aeeff8fc2f5f9126835.png/big)
In the above chart we have measured Huada Automotive TechnologyLtd's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Huada Automotive TechnologyLtd here for free.
在上面的圖表中,我們對華達汽車科技有限公司之前的投資回報率與之前的表現進行了比較,但可以說,未來更爲重要。如果你願意,你可以在這裏免費查看報道華達汽車科技有限公司的分析師的預測。
How Are Returns Trending?
退貨趨勢如何?
On the surface, the trend of ROCE at Huada Automotive TechnologyLtd doesn't inspire confidence. Around five years ago the returns on capital were 8.9%, but since then they've fallen to 6.6%. However it looks like Huada Automotive TechnologyLtd might be reinvesting for long term growth because while capital employed has increased, the company's sales haven't changed much in the last 12 months. It may take some time before the company starts to see any change in earnings from these investments.
從表面上看,華達汽車科技有限公司的ROCE趨勢並不能激發信心。大約五年前,資本回報率爲8.9%,但此後已降至6.6%。但是,看來華達汽車科技有限公司可能會進行再投資以實現長期增長,因爲儘管資本使用量有所增加,但該公司的銷售在過去12個月中並沒有太大變化。公司可能需要一段時間才能開始看到這些投資的收益發生任何變化。
In Conclusion...
總之...
In summary, Huada Automotive TechnologyLtd is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. Investors must think there's better things to come because the stock has knocked it out of the park, delivering a 167% gain to shareholders who have held over the last five years. Ultimately, if the underlying trends persist, we wouldn't hold our breath on it being a multi-bagger going forward.
總而言之,華達汽車科技有限公司正在將資金重新投資到業務中以實現增長,但不幸的是,銷售額似乎還沒有太大增長。投資者必須認爲會有更好的事情發生,因爲該股已將其淘汰,爲過去五年中持股的股東帶來了167%的收益。歸根結底,如果潛在趨勢持續下去,我們就不會屏住呼吸了。
Like most companies, Huada Automotive TechnologyLtd does come with some risks, and we've found 2 warning signs that you should be aware of.
像大多數公司一樣,華達汽車科技有限公司確實存在一些風險,我們發現了兩個警告信號,你應該注意。
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.
對於那些喜歡投資穩健公司的人,可以查看這份資產負債表穩健和股本回報率高的公司的免費清單。
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?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
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根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。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,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。