Jouder Precision Industry (Kunshan) (SZSE:300549) Could Be At Risk Of Shrinking As A Company
Jouder Precision Industry (Kunshan) (SZSE:300549) Could Be At Risk Of Shrinking As A Company
When researching a stock for investment, what can tell us that the company is in decline? A business that's potentially in decline often shows two trends, a return on capital employed (ROCE) that's declining, and a base of capital employed that's also declining. This combination can tell you that not only is the company investing less, it's earning less on what it does invest. In light of that, from a first glance at Jouder Precision Industry (Kunshan) (SZSE:300549), we've spotted some signs that it could be struggling, so let's investigate.
在研究股票進行投資時,什麼能告訴我們公司正在下跌?可能衰退的企業通常會呈現出兩種趨勢,一個 返回 關於資本使用率(ROCE)正在下降,而且 基礎 使用的資本也在下降。這種組合可以告訴你,公司不僅減少了投資,而且投資的收益也減少了。有鑑於此,乍一看卓德精密工業(崑山)(深圳證券交易所代碼:300549),我們發現了一些可能陷入困境的跡象,所以讓我們來調查一下。
Understanding Return On Capital Employed (ROCE)
了解資本使用回報率 (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. To calculate this metric for Jouder Precision Industry (Kunshan), this is the formula:
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。要計算卓德精密工業(崑山)的這個指標,公式如下:
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)
0.038 = CN¥21m ÷ (CN¥701m - CN¥148m) (Based on the trailing twelve months to September 2023).
0.038 = 2100萬元人民幣 ÷(7.01億元人民幣-1.48億元人民幣) (基於截至2023年9月的過去十二個月)。
Thus, Jouder Precision Industry (Kunshan) has an ROCE of 3.8%. Ultimately, that's a low return and it under-performs the Machinery industry average of 6.1%.
因此,卓德精密工業(崑山)的投資回報率爲3.8%。歸根結底,這是一個低迴報,其表現低於機械行業6.1%的平均水平。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240224/0-d749ab7a6b4beeb7976b7b8b290b8700-0-0a458517621c6376d30a6908205bba4e.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Jouder Precision Industry (Kunshan)'s ROCE against it's prior returns. If you want to delve into the historical earnings , check out these free graphs detailing revenue and cash flow performance of Jouder Precision Industry (Kunshan).
歷史表現是研究股票的絕佳起點,因此您可以在上方看到卓德精密工業(崑山)的投資回報率與先前回報的對比。如果您想深入了解歷史收益,請查看這些免費圖表,詳細說明了卓德精密工業(崑山)的收入和現金流表現。
What The Trend Of ROCE Can Tell Us
ROCE 的趨勢能告訴我們什麼
In terms of Jouder Precision Industry (Kunshan)'s historical ROCE movements, the trend doesn't inspire confidence. About five years ago, returns on capital were 12%, however they're now substantially lower than that as we saw above. On top of that, it's worth noting that the amount of capital employed within the business has remained relatively steady. 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. If these trends continue, we wouldn't expect Jouder Precision Industry (Kunshan) to turn into a multi-bagger.
就卓德精密工業(崑山)的歷史ROCE走勢而言,這一趨勢並不能激發信心。大約五年前,資本回報率爲12%,但現在已大大低於我們在上面看到的水平。最重要的是,值得注意的是,企業內部使用的資本量一直保持相對穩定。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。如果這些趨勢繼續下去,我們預計卓德精密工業(崑山)不會變成一家多裝袋公司。
The Key Takeaway
關鍵要點
In summary, it's unfortunate that Jouder Precision Industry (Kunshan) is generating lower returns from the same amount of capital. Despite the concerning underlying trends, the stock has actually gained 12% over the last five years, so it might be that the investors are expecting the trends to reverse. Either way, we aren't huge fans of the current trends and so with that we think you might find better investments elsewhere.
總而言之,不幸的是,卓德精密工業(崑山)從相同數量的資本中獲得的回報較低。儘管潛在趨勢令人擔憂,但該股在過去五年中實際上上漲了12%,因此投資者可能預計趨勢將逆轉。無論哪種方式,我們都不是當前趨勢的忠實擁護者,因此我們認爲您可能會在其他地方找到更好的投資。
One more thing: We've identified 2 warning signs with Jouder Precision Industry (Kunshan) (at least 1 which is concerning) , and understanding them would certainly be useful.
還有一件事:我們已經向卓德精密工業(崑山)確定了兩個警告信號(至少有一個令人擔憂),了解它們肯定會很有用。
While Jouder Precision Industry (Kunshan) 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.
儘管久德精密工業(崑山)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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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。