There Are Reasons To Feel Uneasy About Shenzhen Urban Transport Planning Center's (SZSE:301091) Returns On Capital
There Are Reasons To Feel Uneasy About Shenzhen Urban Transport Planning Center's (SZSE:301091) Returns On Capital
To find a multi-bagger stock, what are the underlying trends we should look for in a business? One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Having said that, from a first glance at Shenzhen Urban Transport Planning Center (SZSE:301091) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
要找到一隻多袋裝箱的股票,我們應該在企業中尋找哪些潛在趨勢?一種常見的方法是嘗試找一家公司 回報 論資本使用率(ROCE)在增加的同時增長 金額 所用資本的比例。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。話雖如此,從深圳城市交通規劃中心(SZSE: 301091)的第一眼來看,我們並不是對回報的趨勢不屑一顧,但讓我們更深入地了解一下。
Return On Capital Employed (ROCE): What Is It?
資本使用回報率(ROCE):這是什麼?
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for Shenzhen Urban Transport Planning Center:
爲了澄清一下你是否不確定,ROCE是評估公司從投資於其業務的資本中獲得多少稅前收入(按百分比計算)的指標。分析師使用這個公式爲深圳城市交通規劃中心計算得出:
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)
0.029 = CN¥68m ÷ (CN¥3.0b - CN¥688m) (Based on the trailing twelve months to September 2023).
0.029 = 6800萬元人民幣 ÷(30億元人民幣-6.88億元人民幣) (基於截至2023年9月的過去十二個月)。
So, Shenzhen Urban Transport Planning Center has an ROCE of 2.9%. Ultimately, that's a low return and it under-performs the Professional Services industry average of 5.5%.
因此,深圳城市交通規劃中心的投資回報率爲2.9%。歸根結底,這是一個低迴報,其表現低於專業服務行業平均水平的5.5%。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240202/0-9449ba31300d234dc46576b60b68fb71-0-800be680c16211370b7a6524c7228579.png/big)
Above you can see how the current ROCE for Shenzhen Urban Transport Planning Center 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 Shenzhen Urban Transport Planning Center.
在上方,您可以看到深圳城市交通規劃中心當前的投資回報率與其先前的資本回報率相比如何,但從過去可以看出來的只有那麼多。如果你想了解分析師對未來的預測,你應該查看我們爲深圳城市交通規劃中心提供的免費報告。
What The Trend Of ROCE Can Tell Us
ROCE 的趨勢能告訴我們什麼
On the surface, the trend of ROCE at Shenzhen Urban Transport Planning Center doesn't inspire confidence. To be more specific, ROCE has fallen from 22% over the last five years. 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. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
從表面上看,深圳城市交通規劃中心的ROCE趨勢並不能激發信心。更具體地說,投資回報率已從過去五年的22%下降。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。而且,如果增加的資本產生額外的回報,那麼從長遠來看,企業乃至股東都將受益。
On a side note, Shenzhen Urban Transport Planning Center has done well to pay down its current liabilities to 23% of total assets. That could partly explain why the ROCE has dropped. Effectively this means their suppliers or short-term creditors are funding less of the business, which reduces some elements of risk. Since the business is basically funding more of its operations with it's own money, you could argue this has made the business less efficient at generating ROCE.
順便說一句,深圳城市交通規劃中心在償還其流動負債佔總資產的23%方面做得很好。這可以部分解釋投資回報率下降的原因。實際上,這意味着他們的供應商或短期債權人減少了對企業的融資,從而降低了某些風險因素。由於該企業基本上是用自己的資金爲其運營提供更多資金,因此您可能會爭辯說,這降低了企業產生投資回報率的效率。
Our Take On Shenzhen Urban Transport Planning Center's ROCE
我們對深圳城市交通規劃中心ROCE的看法
While returns have fallen for Shenzhen Urban Transport Planning Center 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 13% over the last year, it would appear that investors are upbeat about the future. So while the underlying trends could already be accounted for by investors, we still think this stock is worth looking into further.
儘管深圳城市交通規劃中心的回報率最近有所下降,但令我們感到鼓舞的是,銷售額正在增長,該業務正在對其運營進行再投資。此外,該股去年上漲了13%,看來投資者對未來持樂觀態度。因此,儘管投資者已經可以解釋潛在的趨勢,但我們仍然認爲這隻股票值得進一步研究。
If you'd like to know about the risks facing Shenzhen Urban Transport Planning Center, we've discovered 2 warning signs that you should be aware of.
如果你想了解深圳城市交通規劃中心面臨的風險,我們發現了兩個警示標誌,你應該注意。
While Shenzhen Urban Transport Planning Center may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
儘管深圳城市交通規劃中心目前可能無法獲得最高的回報,但我們編制了一份目前股本回報率超過25%的公司名單。在這裏查看這個免費清單。
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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。