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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

泰瑞机械(SHSE: 603289)希望扭转其资本回报率
Simply Wall St ·  01/19 00:59

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.

如果我们想找到潜在的多袋装货商,通常有潜在的趋势可以提供线索。在一个完美的世界中,我们希望看到一家公司向其业务投入更多资本,理想情况下,从这些资本中获得的回报也在增加。归根结底,这表明这是一家以不断提高的回报率对利润进行再投资的企业。但是,在简短地查看了这些数字之后,我们认为泰瑞机械(SHSE: 603289)在未来不具备多装袋机的实力,但让我们来看看为什么会这样。

Return On Capital Employed (ROCE): What Is It?

资本使用回报率(ROCE):这是什么?

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:

对于那些不知道的人来说,ROCE是衡量公司年度税前利润(其回报率)的指标,相对于该业务使用的资本。分析师使用以下公式来计算泰瑞机械的计算公式:

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)

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

0.063 = 8900万元人民币 ÷(22亿元人民币-8.32亿元人民币) (基于截至2023年9月的过去十二个月)

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,泰瑞机械的投资回报率为6.3%。这本身就是很低的资本回报率,但与该行业6.1%的平均回报率一致。

Check out our latest analysis for Tederic Machinery

查看我们对泰瑞机械的最新分析

roce
SHSE:603289 Return on Capital Employed January 19th 2024
SHSE: 603289 2024 年 1 月 19 日动用资本回报率

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.

虽然过去并不能代表未来,但了解一家公司的历史表现可能会有所帮助,这就是我们上面有这张图表的原因。如果你想在其他指标中查看泰瑞机械过去的表现,你可以查看这张过去的收益、收入和现金流的免费图表。

What Does the ROCE Trend For Tederic Machinery Tell Us?

泰瑞机械的投资回报率趋势告诉我们什么?

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.

当我们查看泰瑞机械的投资回报率趋势时,我们并没有获得太大的信心。在过去五年中,资本回报率从五年前的9.7%降至6.3%。同时,该业务正在使用更多的资本,但在过去的12个月中,这并没有对销售产生太大影响,因此这可能反映出长期投资。公司可能需要一段时间才能开始看到这些投资的收益发生任何变化。

Our Take On Tederic Machinery's ROCE

我们对泰瑞机械投资回报率的看法

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.

综上所述,尽管泰瑞机械对自有业务的再投资使我们感到有些鼓舞,但我们意识到回报正在萎缩。毫不奇怪,该股在过去五年中仅上涨了25%,这可能表明投资者正在考虑未来的情况。因此,如果您正在寻找多袋机,我们建议您考虑其他选项。

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.

如果你想了解泰瑞机械面临的一些风险,我们发现了 2 个警告信号(1 个不容忽视!)在这里投资之前,您应该注意这一点。

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.

尽管泰瑞机械的回报率不是最高的,但请查看这份免费的股票回报率高、资产负债表稳健的公司名单。

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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.

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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。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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