Returns On Capital At Jiangsu High Hope International Group (SHSE:600981) Have Stalled
Returns On Capital At Jiangsu High Hope International Group (SHSE:600981) Have Stalled
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount 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. However, after briefly looking over the numbers, we don't think Jiangsu High Hope International Group (SHSE:600981) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
如果你在尋找下一款多功能裝袋機時不確定從哪裏開始,那麼你應該留意一些關鍵趨勢。理想情況下,企業將表現出兩種趨勢;首先是增長 返回 論資本使用率(ROCE),其次是增加 金額 所用資本的比例。如果你看到這一點,這通常意味着它是一家擁有良好商業模式和大量盈利再投資機會的公司。但是,在簡短地研究了這些數字之後,我們認爲江蘇宏望國際集團(SHSE: 600981)在未來不具備多裝袋機的實力,但讓我們來看看爲什麼會這樣。
What Is Return On Capital Employed (ROCE)?
什麼是資本使用回報率(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. The formula for this calculation on Jiangsu High Hope International Group is:
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。江蘇匯鴻國際集團的計算公式爲:
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)
0.012 = CN¥112m ÷ (CN¥26b - CN¥17b) (Based on the trailing twelve months to September 2023).
0.012 = 1.12億元人民幣 ÷(26億元人民幣-17億元人民幣) (基於截至2023年9月的過去十二個月)。
Thus, Jiangsu High Hope International Group has an ROCE of 1.2%. In absolute terms, that's a low return and it also under-performs the Retail Distributors industry average of 5.5%.
因此,江蘇厚望國際集團的投資回報率爲1.2%。從絕對值來看,這是一種低迴報,其表現也低於零售分銷商行業平均水平的5.5%。
Check out our latest analysis for Jiangsu High Hope International Group
查看我們對江蘇匯鴻國際集團的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240109/0-684e31ed9451e06d49a577ec2ce149e1-0-8cda84f8719e3a158fc24db4ea254569.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're interested in investigating Jiangsu High Hope International Group's past further, check out this free graph of past earnings, revenue and cash flow.
雖然過去並不能代表未來,但了解一家公司的歷史表現可能會有所幫助,這就是我們上面有這張圖表的原因。如果你有興趣進一步調查江蘇匯鴻國際集團的過去,請查看這張過去收益、收入和現金流的免費圖表。
So How Is Jiangsu High Hope International Group's ROCE Trending?
那麼江蘇厚望國際集團的投資回報率走勢如何?
Things have been pretty stable at Jiangsu High Hope International Group, with its capital employed and returns on that capital staying somewhat the same for the last five years. Businesses with these traits tend to be mature and steady operations because they're past the growth phase. So don't be surprised if Jiangsu High Hope International Group doesn't end up being a multi-bagger in a few years time.
江蘇匯鴻國際集團的情況一直相當穩定,在過去五年中,其資本利用率和資本回報率基本保持不變。具有這些特徵的企業往往是成熟而穩定的運營,因爲它們已經過了增長階段。因此,如果江蘇匯鴻國際集團在幾年內沒有成爲一家多口袋公司,也不要感到驚訝。
On a separate but related note, it's important to know that Jiangsu High Hope International Group has a current liabilities to total assets ratio of 65%, which we'd consider pretty high. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
另一方面,重要的是要知道江蘇匯鴻國際集團的流動負債與總資產的比率爲65%,我們認爲這個比率相當高。這可能會帶來一些風險,因爲該公司的運營基本上在很大程度上依賴其供應商或其他類型的短期債權人。理想情況下,我們希望看到這種情況減少,因爲這意味着承擔風險的債務減少。
Our Take On Jiangsu High Hope International Group's ROCE
我們對江蘇厚望國際集團投資回報率的看法
We can conclude that in regards to Jiangsu High Hope International Group's returns on capital employed and the trends, there isn't much change to report on. And investors appear hesitant that the trends will pick up because the stock has fallen 21% in the last five years. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.
我們可以得出結論,就江蘇匯鴻國際集團的已動用資本回報率和趨勢而言,沒有太大的變化可以報告。投資者似乎對趨勢的回升猶豫不決,因爲該股在過去五年中下跌了21%。無論如何,該股票不具有上面討論的多袋裝股票的特徵,因此,如果您正在尋找這種特徵,我們認爲您在其他地方會更幸運。
On a final note, we found 2 warning signs for Jiangsu High Hope International Group (1 is a bit unpleasant) you should be aware of.
最後,我們發現了江蘇匯鴻國際集團的兩個警告標誌(其中一個有點不愉快),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。
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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。