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China Power International Development (HKG:2380) Will Want To Turn Around Its Return Trends

China Power International Development (HKG:2380) Will Want To Turn Around Its Return Trends

中國電力國際發展(HKG: 2380)將希望扭轉其回報趨勢
Simply Wall St ·  02/09 17:49

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing 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. Although, when we looked at China Power International Development (HKG:2380), it didn't seem to tick all of these boxes.

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?首先,我們想找一個正在成長的 返回 關於已用資本(ROCE),然後除此之外,還不斷增加 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,當我們查看中國電力國際發展(HKG: 2380)時,它似乎並沒有勾選所有這些方框。

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

資本使用回報率(ROCE):這是什麼?

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. Analysts use this formula to calculate it for China Power International Development:

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。分析師使用這個公式來計算中電國際開發的費用:

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)

0.035 = CN¥6.1b ÷ (CN¥222b - CN¥47b) (Based on the trailing twelve months to June 2023).

0.035 = 61億元人民幣 ÷(222億元人民幣-47億元人民幣) (基於截至 2023 年 6 月的過去十二個月)

So, China Power International Development has an ROCE of 3.5%. Ultimately, that's a low return and it under-performs the Renewable Energy industry average of 6.3%.

因此,中電國際開發的投資回報率爲3.5%。歸根結底,這是一個低迴報,其表現低於可再生能源行業6.3%的平均水平。

roce
SEHK:2380 Return on Capital Employed February 9th 2024
SEHK: 2380 2024 年 2 月 9 日動用資本回報率

Above you can see how the current ROCE for China Power International Development compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.

上面你可以看到中國電力國際開發目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。如果您有興趣,可以在我們關於公司分析師預測的免費報告中查看分析師的預測。

What Does the ROCE Trend For China Power International Development Tell Us?

中國電力國際發展的ROCE趨勢告訴我們什麼?

In terms of China Power International Development's historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 3.5% from 4.4% five years ago. However, given capital employed and revenue have both increased it appears that the business is currently pursuing growth, at the consequence of short term returns. If these investments prove successful, this can bode very well for long term stock performance.

就中國電力國際開發的歷史ROCE走勢而言,這一趨勢並不理想。在過去五年中,資本回報率從五年前的4.4%降至3.5%。但是,鑑於已動用資本和收入均有所增加,由於短期回報,該業務目前似乎正在追求增長。如果這些投資被證明是成功的,這對長期股票表現來說可能是個好兆頭。

In Conclusion...

總之...

In summary, despite lower returns in the short term, we're encouraged to see that China Power International Development is reinvesting for growth and has higher sales as a result. And the stock has followed suit returning a meaningful 100% to shareholders over the last five years. So while investors seem to be recognizing these promising trends, we would look further into this stock to make sure the other metrics justify the positive view.

總而言之,儘管短期內回報較低,但令我們感到鼓舞的是,中國電力國際開發正在進行再投資以實現增長,並因此實現了更高的銷售額。在過去的五年中,該股緊隨其後,向股東帶來了可觀的100%的回報。因此,儘管投資者似乎意識到了這些令人鼓舞的趨勢,但我們將進一步研究該股,以確保其他指標證明正面觀點是合理的。

One final note, you should learn about the 3 warning signs we've spotted with China Power International Development (including 1 which is potentially serious) .

最後一點是,你應該了解我們在中電國際開發發現的3個警告信號(包括一個可能嚴重的警告信號)。

While China Power International Development isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.

儘管中國電力國際開發的回報率並不高,但請查看這份免費的股本回報率高、資產負債表穩健的公司名單。

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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.

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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