De Rucci Healthy Sleep (SZSE:001323) Will Be Hoping To Turn Its Returns On Capital Around
De Rucci Healthy Sleep (SZSE:001323) Will Be Hoping To Turn Its Returns On Capital Around
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. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Although, when we looked at De Rucci Healthy Sleep (SZSE:001323), it didn't seem to tick all of these boxes.
如果你正在尋找一款多功能裝袋機,有幾件事需要注意。通常,我們希望注意到增長的趨勢 返回 在資本使用率(ROCE)方面,除此之外,還在擴大 基礎 所用資本的比例。基本上,這意味着公司擁有可以繼續進行再投資的盈利計劃,這是複合機器的特徵。但是,當我們看 De Rucci Healthy Sleep(深圳證券交易所:001323)時,它似乎並沒有勾選所有這些方框。
Return On Capital Employed (ROCE): What Is It?
資本使用回報率(ROCE):這是什麼?
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. Analysts use this formula to calculate it for De Rucci Healthy Sleep:
對於那些不知道的人來說,ROCE是衡量公司年度稅前利潤(其回報率)的指標,相對於該業務使用的資本。分析師使用這個公式來計算 De Rucci 健康睡眠:
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)
0.17 = CN¥760m ÷ (CN¥7.1b - CN¥2.5b) (Based on the trailing twelve months to September 2023).
0.17 = 7.6億元人民幣 ÷(71億元人民幣-2.5億元人民幣) (基於截至2023年9月的過去十二個月)。
Therefore, De Rucci Healthy Sleep has an ROCE of 17%. On its own, that's a standard return, however it's much better than the 7.7% generated by the Consumer Durables industry.
因此,德魯奇健康睡眠的投資回報率爲17%。就其本身而言,這是標準回報,但要比耐用消費品行業產生的7.7%好得多。
Check out our latest analysis for De Rucci Healthy Sleep
查看我們對 De Rucci Healthy Sleep 的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231201/0-997ec24e85bda8c584a40d3ee25f613c-0-c61a42af29f3bd93f47a6693eed1a12f.png/big)
Above you can see how the current ROCE for De Rucci Healthy Sleep compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free report for De Rucci Healthy Sleep.
上面你可以看到De Rucci Healthy Sleep當前的投資回報率與其先前的資本回報率相比如何,但從過去可以看出來的只有那麼多。如果你想了解分析師對未來的預測,你應該查看我們的 De Rucci Healthy Sleep 的免費報告。
So How Is De Rucci Healthy Sleep's ROCE Trending?
那麼 De Rucci Healthy Sleep 的 ROCE 趨勢如何?
When we looked at the ROCE trend at De Rucci Healthy Sleep, we didn't gain much confidence. Over the last four years, returns on capital have decreased to 17% from 39% four 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.
當我們研究De Rucci健康睡眠的ROCE趨勢時,我們並沒有獲得太大的信心。在過去四年中,資本回報率從四年前的39%下降到17%。鑑於該企業在收入下滑的情況下僱用了更多的資本,這有點令人擔憂。如果這種情況繼續下去,你可能會看到一家試圖進行再投資以促進增長,但由於銷售額沒有增加,實際上正在失去市場份額的公司。
On a related note, De Rucci Healthy Sleep has decreased its current liabilities to 36% of total assets. That could partly explain why the ROCE has dropped. What's more, this can reduce some aspects of risk to the business because now the company's suppliers or short-term creditors are funding less of its operations. Since the business is basically funding more of its operations with it's own money, you could argue this has made the business less efficient at generating ROCE.
與此相關的是,De Rucci Healthy Sleep已將其流動負債減少至總資產的36%。這可以部分解釋投資回報率下降的原因。更重要的是,這可以降低業務風險的某些方面,因爲現在公司的供應商或短期債權人爲其運營提供的資金減少了。由於該企業基本上是用自己的資金爲其運營提供更多資金,因此您可能會爭辯說,這降低了企業產生投資回報率的效率。
The Bottom Line On De Rucci Healthy Sleep's ROCE
De Rucci Healthy Sleep 的 ROCE 的底線
We're a bit apprehensive about De Rucci Healthy Sleep because despite more capital being deployed in the business, returns on that capital and sales have both fallen. And long term shareholders have watched their investments stay flat over the last year. Unless there is a shift to a more positive trajectory in these metrics, we would look elsewhere.
我們對De Rucci Healthy Sleep有點擔憂,因爲儘管在業務中投入了更多資金,但資本回報率和銷售額都下降了。去年,長期股東的投資一直保持平穩。除非這些指標轉向更積極的軌跡,否則我們將把目光投向其他地方。
De Rucci Healthy Sleep could be trading at an attractive price in other respects, so you might find our free intrinsic value estimation on our platform quite valuable.
De Rucci Healthy Sleep在其他方面可能會以誘人的價格進行交易,因此您可能會發現我們在我們平台上的免費內在價值估算非常有價值。
While De Rucci Healthy Sleep isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
儘管De Rucci Healthy Sleep的回報率並不高,但請查看這份免費清單,列出了資產負債表穩健的股本回報率高的公司。
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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。