Guangzhou Great Power Energy and Technology (SZSE:300438) Will Want To Turn Around Its Return Trends
Guangzhou Great Power Energy and Technology (SZSE:300438) Will Want To Turn Around Its Return Trends
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Although, when we looked at Guangzhou Great Power Energy and Technology (SZSE:300438), it didn't seem to tick all of these boxes.
我們應該尋找哪些早期趨勢來確定一隻可能長期價值成倍增長的股票?除其他外,我們希望看到兩件事;首先,成長 返回 論資本使用率(ROCE),其次是公司的擴張 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。但是,當我們查看廣州巨能能源科技(SZSE: 300438)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 who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. Analysts use this formula to calculate it for Guangzhou Great Power Energy and Technology:
對於那些不知道的人來說,ROCE是衡量公司年度稅前利潤(其回報率)的指標,相對於該業務使用的資本。分析師使用以下公式來計算廣州巨能能源科技的計算公式:
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)
0.06 = CN¥518m ÷ (CN¥16b - CN¥7.4b) (Based on the trailing twelve months to September 2023).
0.06 = 5.18億元人民幣 ÷(16億元人民幣-7.4億元人民幣) (基於截至2023年9月的過去十二個月)。
Therefore, Guangzhou Great Power Energy and Technology has an ROCE of 6.0%. On its own that's a low return on capital but it's in line with the industry's average returns of 6.3%.
因此,廣州巨能能源科技的投資回報率爲6.0%。這本身就是很低的資本回報率,但與該行業6.3%的平均回報率一致。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240225/0-3e536b8e984657e963e5f60530d06d75-0-edfd9e7403a9413c3503b9b25493bf8b.png/big)
In the above chart we have measured Guangzhou Great Power Energy and Technology's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Guangzhou Great Power Energy and Technology .
在上圖中,我們將廣州巨能能源科技先前的投資回報率與之前的表現進行了對比,但可以說,未來更爲重要。如果你想了解分析師對未來的預測,你應該查看我們爲廣州巨能能源科技提供的免費分析師報告。
The Trend Of ROCE
ROCE 的趨勢
We weren't thrilled with the trend because Guangzhou Great Power Energy and Technology's ROCE has reduced by 61% over the last five years, while the business employed 273% more capital. However, some of the increase in capital employed could be attributed to the recent capital raising that's been completed prior to their latest reporting period, so keep that in mind when looking at the ROCE decrease. It's unlikely that all of the funds raised have been put to work yet, so as a consequence Guangzhou Great Power Energy and Technology might not have received a full period of earnings contribution from it.
我們對這一趨勢並不感到興奮,因爲廣州巨能能源科技的投資回報率在過去五年中下降了61%,而該業務使用的資本增加了273%。但是,動用資本的增加在一定程度上可能歸因於最近的融資是在其最新報告期之前完成的,因此在考慮投資回報率下降時請記住這一點。目前籌集的資金不太可能全部投入使用,因此,廣州巨能能源科技可能尚未從中獲得整整一段時間的收益捐款。
Another thing to note, Guangzhou Great Power Energy and Technology has a high ratio of current liabilities to total assets of 46%. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.
需要注意的另一件事是,廣州巨能能源科技的流動負債佔總資產的比例很高,爲46%。這實際上意味着供應商(或短期債權人)正在爲業務的很大一部分提供資金,因此請注意,這可能會帶來一些風險因素。雖然這不一定是壞事,但如果這個比率較低,可能會有好處。
The Bottom Line
底線
Bringing it all together, while we're somewhat encouraged by Guangzhou Great Power Energy and Technology's reinvestment in its own business, we're aware that returns are shrinking. Although the market must be expecting these trends to improve because the stock has gained 54% over the last five years. Ultimately, if the underlying trends persist, we wouldn't hold our breath on it being a multi-bagger going forward.
綜上所述,儘管廣州巨能能源科技對自有業務的再投資使我們感到有些鼓舞,但我們意識到回報正在萎縮。儘管市場必須預期這些趨勢會有所改善,因爲該股在過去五年中上漲了54%。歸根結底,如果潛在趨勢持續下去,我們就不會屏住呼吸了。
Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 3 warning signs for Guangzhou Great Power Energy and Technology (of which 1 shouldn't be ignored!) that you should know about.
由於幾乎每家公司都面臨一些風險,因此值得了解它們是什麼,我們已經發現了廣州巨能能源科技的3個警告信號(其中1個不容忽視!)你應該知道的。
While Guangzhou Great Power Energy and Technology isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
儘管廣州巨能能源科技的回報率並不高,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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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。