Capital Allocation Trends At RumereLtd (SZSE:301088) Aren't Ideal
Capital Allocation Trends At RumereLtd (SZSE:301088) Aren't Ideal
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. 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. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. However, after investigating RumereLtd (SZSE:301088), we don't think it's current trends fit the mold of a multi-bagger.
如果你在寻找下一款多袋装机时不确定从哪里开始,那么你应该注意一些关键趋势。除其他外,我们希望看到两件事;首先,一个不断增长的 返回 论资本使用率(ROCE),其次是公司的扩张 金额 所用资本的比例。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,在调查了Rumereltd(深圳证券交易所代码:301088)之后,我们认为其当前的趋势不符合多袋机的模式。
What Is Return On Capital Employed (ROCE)?
什么是资本使用回报率(ROCE)?
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. The formula for this calculation on RumereLtd is:
对于那些不确定ROCE是什么的人,它衡量的是公司从其业务中使用的资本中可以产生的税前利润金额。在 RumerEltd 上进行此计算的公式为:
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)
0.033 = CN¥84m ÷ (CN¥2.6b - CN¥64m) (Based on the trailing twelve months to September 2023).
0.033 = 8400万元人民币 ÷(26亿元人民币-6400万元人民币) (基于截至2023年9月的过去十二个月)。
Therefore, RumereLtd has an ROCE of 3.3%. In absolute terms, that's a low return and it also under-performs the Specialty Retail industry average of 4.9%.
因此,RumerEltd的投资回报率为3.3%。从绝对值来看,这是一个低回报,其表现也低于专业零售行业4.9%的平均水平。
View our latest analysis for RumereLtd
查看我们对 RumerEltd 的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240124/0-28a19077932ce30a8d9de58e83f7e2d3-0-f7cf2ab6b9b2b72efcf01843711327e7.png/big)
Above you can see how the current ROCE for RumereLtd 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 RumereLtd.
在上面你可以看到Rumereltd当前的投资回报率与其先前的资本回报率相比如何,但从过去可以看出来的只有那么多。如果您想了解分析师对未来的预测,则应查看我们的RumerEltd免费报告。
What Does the ROCE Trend For RumereLtd Tell Us?
RumerelTD 的投资回报率趋势告诉我们什么?
When we looked at the ROCE trend at RumereLtd, we didn't gain much confidence. To be more specific, ROCE has fallen from 54% over the last five years. However it looks like RumereLtd 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's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
当我们查看Rumereltd的投资回报率趋势时,我们并没有获得太大的信心。更具体地说,投资回报率已从过去五年的54%下降。但是,看来Rumereltd可能正在进行再投资以实现长期增长,因为尽管动用资本有所增加,但该公司的销售额在过去12个月中没有太大变化。从现在起,值得关注公司的收益,看看这些投资最终是否确实为利润做出了贡献。
On a side note, RumereLtd has done well to pay down its current liabilities to 2.4% of total assets. So we could link some of this to the decrease in ROCE. Effectively this means their suppliers or short-term creditors are funding less of the business, which reduces some elements of risk. Some would claim this reduces the business' efficiency at generating ROCE since it is now funding more of the operations with its own money.
顺便说一句,Rumereltd在将其流动负债偿还至总资产的2.4%方面做得很好。因此,我们可以将其中一些与投资回报率的下降联系起来。实际上,这意味着他们的供应商或短期债权人减少了对企业的融资,从而降低了某些风险因素。有人会声称这降低了企业产生投资回报率的效率,因为该公司现在正在用自己的资金为更多的业务提供资金。
The Key Takeaway
关键要点
In summary, RumereLtd is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. Since the stock has declined 20% over the last year, investors may not be too optimistic on this trend improving either. 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.
总而言之,Rumereltd正在将资金再投资到该业务中以实现增长,但不幸的是,销售额似乎还没有太大增长。由于该股在过去一年中下跌了20%,因此投资者对这一趋势的改善可能也不太乐观。无论如何,该股票不具有上面讨论的多袋装股票的特征,因此,如果您正在寻找这种特征,我们认为您在其他地方会更幸运。
One final note, you should learn about the 2 warning signs we've spotted with RumereLtd (including 1 which is a bit unpleasant) .
最后一点是,你应该了解一下我们在Rumereltd中发现的两个警告信号(包括一个有点不愉快的警示信号)。
While RumereLtd 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Rumereltd的回报率并不高,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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