IVD Medical Holding (HKG:1931) Might Have The Makings Of A Multi-Bagger
IVD Medical Holding (HKG:1931) Might Have The Makings Of A Multi-Bagger
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. With that in mind, we've noticed some promising trends at IVD Medical Holding (HKG:1931) so let's look a bit deeper.
如果我們想找到潛在的多袋裝袋機,通常有一些潛在的趨勢可以提供線索。理想情況下,企業將表現出兩種趨勢;首先是增長 返回 論資本使用率(ROCE),其次是增加 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。考慮到這一點,我們注意到IVD Medical Holding(HKG: 1931)的一些令人鼓舞的趨勢,所以讓我們更深入地了解一下。
What Is Return On Capital Employed (ROCE)?
什麼是資本使用回報率(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 IVD Medical Holding 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)。IVD Medical Holding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)
0.11 = CN¥362m ÷ (CN¥4.6b - CN¥1.1b) (Based on the trailing twelve months to June 2023).
0.11 = 3.62億元人民幣 ÷(4.6億元人民幣-1.1億元人民幣) (基於截至 2023 年 6 月的過去十二個月)。
Thus, IVD Medical Holding has an ROCE of 11%. That's a pretty standard return and it's in line with the industry average of 11%.
因此,IVD Medical Holding的投資回報率爲11%。這是一個相當標準的回報率,與11%的行業平均水平一致。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240210/0-e3f9200fef2e47114872f7441c17b7a9-0-1ad628563fcf764d337c5d5b49dee903.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for IVD Medical Holding's ROCE against it's prior returns. If you're interested in investigating IVD Medical Holding'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IVD Medical Holding的投資回報率與先前的回報率對比的指標。如果你有興趣進一步調查IVD Medical Holding的過去,請查看這張過去收益、收入和現金流的免費圖表。
How Are Returns Trending?
退貨趨勢如何?
The trends we've noticed at IVD Medical Holding are quite reassuring. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 11%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 275%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
我們在IVD Medical Holding注意到的趨勢相當令人放心。數字顯示,在過去五年中,所用資本的回報率已大幅增長至11%。實際上,該公司每使用1美元資本就能賺更多的錢,值得注意的是,資本金額也增加了275%。越來越多的資本所帶來的回報率不斷增加在多袋公司中很常見,這就是爲什麼我們印象深刻的原因。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Essentially the business now has suppliers or short-term creditors funding about 25% of its operations, which isn't ideal. Keep an eye out for future increases because when the ratio of current liabilities to total assets gets particularly high, this can introduce some new risks for the business.
順便說一句,我們注意到,投資回報率的改善似乎部分是由流動負債的增加推動的。從本質上講,該企業現在有供應商或短期債權人爲其業務提供約25%的資金,這並不理想。留意未來的增長,因爲當流動負債與總資產的比率變得特別高時,這可能會給企業帶來一些新的風險。
The Bottom Line On IVD Medical Holding's ROCE
IVD Medical Holding的投資回報率的底線
To sum it up, IVD Medical Holding has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. Since the stock has only returned 14% to shareholders over the last three years, the promising fundamentals may not be recognized yet by investors. So exploring more about this stock could uncover a good opportunity, if the valuation and other metrics stack up.
總而言之,IVD Medical Holding已經證明它可以對該業務進行再投資,並從所使用的資本中獲得更高的回報,這太棒了。由於該股在過去三年中僅向股東回報了14%,因此前景良好的基本面可能尚未得到投資者的認可。因此,如果估值和其他指標相提並論,進一步探索這隻股票可能會發現一個很好的機會。
If you'd like to know about the risks facing IVD Medical Holding, we've discovered 1 warning sign that you should be aware of.
如果你想了解IVD Medical Holding面臨的風險,我們發現了一個你應該注意的警告信號。
While IVD Medical Holding 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IVD Medical Holding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。
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。