Here's What's Concerning About Jinan Shengquan Group Share Holding's (SHSE:605589) Returns On Capital
Here's What's Concerning About Jinan Shengquan Group Share Holding's (SHSE:605589) Returns On Capital
There are a few key trends to look for if we want to identify the next multi-bagger. 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. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. Although, when we looked at Jinan Shengquan Group Share Holding (SHSE:605589), it didn't seem to tick all of these boxes.
如果我们想确定下一个多功能装袋机,有一些关键趋势需要关注。一种常见的方法是尝试找一家公司 回报 论资本使用率(ROCE)在增加的同时增长 金额 所用资本的比例。如果你看到这一点,这通常意味着它是一家拥有良好商业模式和大量盈利再投资机会的公司。但是,当我们查看济南圣泉集团股份控股公司(SHSE: 605589)时,它似乎并没有勾选所有这些方框。
What Is Return On Capital Employed (ROCE)?
什么是资本使用回报率(ROCE)?
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. The formula for this calculation on Jinan Shengquan Group Share Holding is:
为了澄清一下你是否不确定,ROCE是评估公司从投资于其业务的资本中获得多少税前收入(按百分比计算)的指标。济南圣泉集团股份的计算公式为:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已动用资本回报率 = 息税前收益 (EBIT) ¥(总资产-流动负债)
0.095 = CN¥951m ÷ (CN¥12b - CN¥2.5b) (Based on the trailing twelve months to December 2023).
0.095 = 9.51亿元人民币 ÷(12亿元人民币-2.5亿元人民币) (基于截至2023年12月的过去十二个月)。
So, Jinan Shengquan Group Share Holding has an ROCE of 9.5%. On its own that's a low return, but compared to the average of 5.7% generated by the Chemicals industry, it's much better.
因此,济南圣泉集团股份控股公司的投资回报率为9.5%。就其本身而言,回报率很低,但与化工行业平均5.7%的回报率相比,要好得多。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240213/0-f5a9cbb43cbad0b606f790ae7c97a58a-0-52199b75db4d1bda75a919f057ca1f45.png/big)
Above you can see how the current ROCE for Jinan Shengquan Group Share Holding compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Jinan Shengquan Group Share Holding here for free.
上面你可以看到济南圣泉集团股份控股公司当前的投资回报率与其先前的资本回报率相比如何,但从过去可以看出来的只有那么多。如果你愿意,可以在这里免费查看分析师对济南圣泉集团股份持股情况的预测。
What Does the ROCE Trend For Jinan Shengquan Group Share Holding Tell Us?
济南圣泉集团控股的投资回报率趋势告诉我们什么?
In terms of Jinan Shengquan Group Share Holding's historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 9.5% from 14% five years ago. On the other hand, the company has been employing more capital without a corresponding improvement in sales in the last year, which could suggest these investments are longer term plays. It may take some time before the company starts to see any change in earnings from these investments.
就济南圣泉集团股份控股的历史回报率走势而言,这一趋势并不理想。在过去五年中,资本回报率从五年前的14%下降到9.5%。另一方面,该公司在去年一直在使用更多资本,但销售额没有相应改善,这可能表明这些投资是长期投资。公司可能需要一段时间才能开始看到这些投资的收益发生任何变化。
On a side note, Jinan Shengquan Group Share Holding has done well to pay down its current liabilities to 20% 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. Some would claim this reduces the business' efficiency at generating ROCE since it is now funding more of the operations with its own money.
顺便说一句,济南圣泉集团股份控股在偿还其流动负债占总资产的20%方面表现良好。这可以部分解释投资回报率下降的原因。实际上,这意味着他们的供应商或短期债权人减少了对企业的融资,从而降低了某些风险因素。有人会声称这降低了企业产生投资回报的效率,因为该公司现在正在用自己的资金为更多的业务提供资金。
In Conclusion...
总之...
To conclude, we've found that Jinan Shengquan Group Share Holding is reinvesting in the business, but returns have been falling. And in the last year, the stock has given away 18% so the market doesn't look too hopeful on these trends strengthening any time soon. On the whole, we aren't too inspired by the underlying trends and we think there may be better chances of finding a multi-bagger elsewhere.
总而言之,我们发现济南圣泉集团股份控股公司正在对该业务进行再投资,但回报率一直在下降。而在去年,该股已经下跌了18%,因此市场对这些趋势在短期内走强似乎并不抱太大希望。总的来说,我们对潜在趋势的启发不大,我们认为在其他地方找到多袋装机的可能性更大。
If you want to continue researching Jinan Shengquan Group Share Holding, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果你想继续研究济南圣泉集团股份控股情况,你可能有兴趣了解我们的分析发现的1个警告信号。
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.
如果你想寻找收益丰厚的稳健公司,可以免费查看这份资产负债表良好且股本回报率可观的公司名单。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。