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Tederic Machinery (SHSE:603289) Will Be Hoping To Turn Its Returns On Capital Around

Tederic Machinery (SHSE:603289) Will Be Hoping To Turn Its Returns On Capital Around

泰瑞機械(SHSE: 603289)希望扭轉其資本回報率
Simply Wall St ·  01/19 14:59

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. However, after briefly looking over the numbers, we don't think Tederic Machinery (SHSE:603289) has the makings of a multi-bagger going forward, but let's have a look at why that may be.

如果我們想找到潛在的多袋裝貨商,通常有潛在的趨勢可以提供線索。在一個完美的世界中,我們希望看到一家公司向其業務投入更多資本,理想情況下,從這些資本中獲得的回報也在增加。歸根結底,這表明這是一家以不斷提高的回報率對利潤進行再投資的企業。但是,在簡短地查看了這些數字之後,我們認爲泰瑞機械(SHSE: 603289)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。

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 Tederic Machinery:

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。分析師使用以下公式來計算泰瑞機械的計算公式:

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)

0.063 = CN¥89m ÷ (CN¥2.2b - CN¥832m) (Based on the trailing twelve months to September 2023).

0.063 = 8900萬元人民幣 ÷(22億元人民幣-8.32億元人民幣) (基於截至2023年9月的過去十二個月)

Therefore, Tederic Machinery has an ROCE of 6.3%. On its own that's a low return on capital but it's in line with the industry's average returns of 6.1%.

因此,泰瑞機械的投資回報率爲6.3%。這本身就是很低的資本回報率,但與該行業6.1%的平均回報率一致。

Check out our latest analysis for Tederic Machinery

查看我們對泰瑞機械的最新分析

roce
SHSE:603289 Return on Capital Employed January 19th 2024
SHSE: 603289 2024 年 1 月 19 日動用資本回報率

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'd like to look at how Tederic Machinery has performed in the past in other metrics, you can view 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。如果你想在其他指標中查看泰瑞機械過去的表現,你可以查看這張過去的收益、收入和現金流的免費圖表。

What Does the ROCE Trend For Tederic Machinery Tell Us?

泰瑞機械的投資回報率趨勢告訴我們什麼?

When we looked at the ROCE trend at Tederic Machinery, we didn't gain much confidence. Over the last five years, returns on capital have decreased to 6.3% from 9.7% five years ago. Meanwhile, the business is utilizing more capital but this hasn't moved the needle much in terms of sales in the past 12 months, so this could reflect longer term investments. It may take some time before the company starts to see any change in earnings from these investments.

當我們查看泰瑞機械的投資回報率趨勢時,我們並沒有獲得太大的信心。在過去五年中,資本回報率從五年前的9.7%降至6.3%。同時,該業務正在使用更多的資本,但在過去的12個月中,這並沒有對銷售產生太大影響,因此這可能反映出長期投資。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。

Our Take On Tederic Machinery's ROCE

我們對泰瑞機械投資回報率的看法

Bringing it all together, while we're somewhat encouraged by Tederic Machinery's reinvestment in its own business, we're aware that returns are shrinking. Unsurprisingly, the stock has only gained 25% over the last five years, which potentially indicates that investors are accounting for this going forward. Therefore, if you're looking for a multi-bagger, we'd propose looking at other options.

綜上所述,儘管泰瑞機械對自有業務的再投資使我們感到有些鼓舞,但我們意識到回報正在萎縮。毫不奇怪,該股在過去五年中僅上漲了25%,這可能表明投資者正在考慮未來的情況。因此,如果您正在尋找多袋機,我們建議您考慮其他選項。

If you want to know some of the risks facing Tederic Machinery we've found 2 warning signs (1 can't be ignored!) that you should be aware of before investing here.

如果你想了解泰瑞機械面臨的一些風險,我們發現了 2 個警告信號(1 個不容忽視!)在這裏投資之前,您應該注意這一點。

While Tederic Machinery isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.

儘管泰瑞機械的回報率不是最高的,但請查看這份免費的股票回報率高、資產負債表穩健的公司名單。

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。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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