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Returns On Capital At Sunny Loan TopLtd (SHSE:600830) Paint A Concerning Picture

Returns On Capital At Sunny Loan TopLtd (SHSE:600830) Paint A Concerning Picture

Sunny Loan Topltd(SHSE: 600830)的資本回報率描繪了一幅令人擔憂的畫面
Simply Wall St ·  01/25 17:21

To avoid investing in a business that's in decline, there's a few financial metrics that can provide early indications of aging. When we see a declining return on capital employed (ROCE) in conjunction with a declining base of capital employed, that's often how a mature business shows signs of aging. Trends like this ultimately mean the business is reducing its investments and also earning less on what it has invested. Having said that, after a brief look, Sunny Loan TopLtd (SHSE:600830) we aren't filled with optimism, but let's investigate further.

爲了避免投資衰退的企業,有一些財務指標可以提供老齡化的早期跡象。當我們看到下降時 返回 在資本使用率(ROCE)的下降的同時 基礎 就所使用的資本而言,成熟的企業通常會以這種方式顯示出老化的跡象。這樣的趨勢最終意味着該企業正在減少投資,同時也減少了其投資的收益。話雖如此,簡短地看了一下,Sunny Loan TopLTD(上海證券交易所代碼:600830)我們並不樂觀,但讓我們進一步調查一下。

Understanding Return On Capital Employed (ROCE)

了解資本使用回報率 (ROCE)

If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Sunny Loan TopLtd is:

如果你以前沒有與ROCE合作過,它會衡量公司從其業務中使用的資本中產生的 “回報”(稅前利潤)。Sunny Loan TopLTD 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)

0.0075 = CN¥24m ÷ (CN¥3.6b - CN¥455m) (Based on the trailing twelve months to September 2023).

0.0075 = 2400萬元人民幣 ÷(36億元人民幣-4.55億元人民幣) (基於截至2023年9月的過去十二個月)

Thus, Sunny Loan TopLtd has an ROCE of 0.7%. In absolute terms, that's a low return and it also under-performs the Retail Distributors industry average of 5.5%.

因此,Sunny Loan TopLTD的投資回報率爲0.7%。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%。

View our latest analysis for Sunny Loan TopLtd

查看我們對Sunny Loan TopLTD的最新分析

roce
SHSE:600830 Return on Capital Employed January 25th 2024
SHSE: 600830 2024 年 1 月 25 日動用資本回報率

Historical performance is a great place to start when researching a stock so above you can see the gauge for Sunny Loan TopLtd's ROCE against it's prior returns. If you're interested in investigating Sunny Loan TopLtd's past further, check out this free graph of past earnings, revenue and cash flow.

歷史表現是研究股票的絕佳起點,因此在上方您可以看到Sunny Loan ToplTD的投資回報率與先前回報率對比的指標。如果你有興趣進一步調查Sunny Loan TopLTD的過去,請查看這張過去收益、收入和現金流的免費圖表。

What Does the ROCE Trend For Sunny Loan TopLtd Tell Us?

Sunny Loan Topltd的投資回報率趨勢告訴我們什麼?

There is reason to be cautious about Sunny Loan TopLtd, given the returns are trending downwards. About five years ago, returns on capital were 7.0%, however they're now substantially lower than that as we saw above. Meanwhile, capital employed in the business has stayed roughly the flat over the period. This combination can be indicative of a mature business that still has areas to deploy capital, but the returns received aren't as high due potentially to new competition or smaller margins. So because these trends aren't typically conducive to creating a multi-bagger, we wouldn't hold our breath on Sunny Loan TopLtd becoming one if things continue as they have.

鑑於回報率呈下降趨勢,有理由對Sunny Loan TopLTD持謹慎態度。大約五年前,資本回報率爲7.0%,但現在已大大低於我們在上面看到的水平。同時,在此期間,該業務使用的資本基本保持不變。這種組合可能表明一家成熟的企業仍有資金部署的領域,但由於新的競爭或利潤率降低,獲得的回報並不那麼高。因此,由於這些趨勢通常不利於創建多口袋機,因此,如果情況繼續保持現狀,我們就不會屏住呼吸希望Sunny Loan Topltd成爲其中之一。

The Key Takeaway

關鍵要點

In summary, it's unfortunate that Sunny Loan TopLtd is generating lower returns from the same amount of capital. Yet despite these concerning fundamentals, the stock has performed strongly with a 91% return over the last five years, so investors appear very optimistic. In any case, the current underlying trends don't bode well for long term performance so unless they reverse, we'd start looking elsewhere.

總而言之,不幸的是,Sunny Loan TopLTD在相同數量的資本中產生的回報較低。然而,儘管存在這些令人擔憂的基本面,但該股在過去五年中表現強勁,回報率爲91%,因此投資者似乎非常樂觀。無論如何,當前的潛在趨勢對長期表現來說並不是一個好兆頭,因此,除非趨勢逆轉,否則我們將開始將目光投向其他地方。

If you'd like to know more about Sunny Loan TopLtd, we've spotted 2 warning signs, and 1 of them is significant.

如果您想進一步了解Sunny Loan TopLTD,我們發現了2個警告信號,其中一個信號很重要。

If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.

如果你想尋找收益豐厚的穩健公司,可以免費查看這份資產負債表良好且股本回報率可觀的公司名單。

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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