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Shanghai Laimu ElectronicsLtd (SHSE:603633) Might Be Having Difficulty Using Its Capital Effectively

Shanghai Laimu ElectronicsLtd (SHSE:603633) Might Be Having Difficulty Using Its Capital Effectively

上海萊木電子有限公司(SHSE: 603633)可能難以有效使用其資本
Simply Wall St ·  01/25 07:59

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, 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. However, after briefly looking over the numbers, we don't think Shanghai Laimu ElectronicsLtd (SHSE:603633) has the makings of a multi-bagger going forward, but let's have a look at why that may be.

我們應該尋找哪些趨勢?我們想確定可以長期價值成倍增長的股票?首先,我們希望看到經過驗證的 返回 關於正在增加的資本使用率(ROCE),其次是擴大 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,在簡短地查看了這些數字之後,我們認爲上海萊木電子有限公司(SHSE: 603633)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 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 Shanghai Laimu ElectronicsLtd is:

對於那些不確定ROCE是什麼的人,它衡量的是公司從其業務中使用的資本中可以產生的稅前利潤金額。上海萊木電子有限公司的計算公式爲:

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)

0.047 = CN¥99m ÷ (CN¥3.2b - CN¥1.1b) (Based on the trailing twelve months to September 2023).

0.047 = 9900萬元人民幣 ÷(32億元人民幣-11億元人民幣) (基於截至2023年9月的過去十二個月)

So, Shanghai Laimu ElectronicsLtd has an ROCE of 4.7%. In absolute terms, that's a low return and it also under-performs the Electrical industry average of 6.3%.

因此,上海萊木電子有限公司的投資回報率爲4.7%。從絕對值來看,這是一個低迴報,其表現也低於電氣行業6.3%的平均水平。

See our latest analysis for Shanghai Laimu ElectronicsLtd

查看我們對上海萊木電子有限公司的最新分析

roce
SHSE:603633 Return on Capital Employed January 24th 2024
SHSE: 603633 2024 年 1 月 24 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 want to delve into the historical earnings, revenue and cash flow of Shanghai Laimu ElectronicsLtd, check out these free graphs here.

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。如果您想深入了解上海萊木電子有限公司的歷史收益、收入和現金流,請在此處查看這些免費圖表。

The Trend Of ROCE

ROCE 的趨勢

On the surface, the trend of ROCE at Shanghai Laimu ElectronicsLtd doesn't inspire confidence. Over the last five years, returns on capital have decreased to 4.7% from 9.0% five years ago. Although, given both revenue and the amount of assets employed in the business have increased, it could suggest the company is investing in growth, and the extra capital has led to a short-term reduction in ROCE. If these investments prove successful, this can bode very well for long term stock performance.

從表面上看,上海萊木電子有限公司的ROCE趨勢並不能激發信心。在過去五年中,資本回報率從五年前的9.0%降至4.7%。儘管考慮到該業務的收入和資產數量都有所增加,但這可能表明該公司正在投資增長,而額外的資本導致了投資回報率的短期下降。如果這些投資被證明是成功的,這對長期股票表現來說是個好兆頭。

Our Take On Shanghai Laimu ElectronicsLtd's ROCE

我們對上海萊木電子有限公司 ROCE 的看法

While returns have fallen for Shanghai Laimu ElectronicsLtd in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. Furthermore the stock has climbed 75% over the last five years, it would appear that investors are upbeat about the future. So should these growth trends continue, we'd be optimistic on the stock going forward.

儘管最近上海萊木電子有限公司的回報率有所下降,但令我們感到鼓舞的是,銷售額正在增長,業務正在對其運營進行再投資。此外,該股在過去五年中上漲了75%,看來投資者對未來持樂觀態度。因此,如果這些增長趨勢繼續下去,我們將對該股的未來持樂觀態度。

Shanghai Laimu ElectronicsLtd does have some risks, we noticed 2 warning signs (and 1 which can't be ignored) we think you should know about.

上海萊木電子有限公司確實存在一些風險,我們注意到兩個警告標誌(還有一個不容忽視的),我們認爲你應該知道。

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

儘管上海萊木電子有限公司的回報率並不是最高的,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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