Some Investors May Be Worried About Shenzhen Sunshine Laser & Electronics Technology's (SZSE:300227) Returns On Capital
Some Investors May Be Worried About Shenzhen Sunshine Laser & Electronics Technology's (SZSE:300227) Returns On Capital
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. In light of that, when we looked at Shenzhen Sunshine Laser & Electronics Technology (SZSE:300227) and its ROCE trend, we weren't exactly thrilled.
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。有鑑於此,當我們研究深圳陽光激光電子科技(SZSE: 300227)及其投資回報率趨勢時,我們並不十分興奮。
What Is Return On Capital Employed (ROCE)?
什麼是資本使用回報率(ROCE)?
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 Shenzhen Sunshine Laser & Electronics 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。分析師使用這個公式來計算深圳陽光激光電子科技的計算公式:
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)
0.03 = CN¥56m ÷ (CN¥2.6b - CN¥793m) (Based on the trailing twelve months to September 2023).
0.03 = 5600萬元人民幣 ÷(26億元人民幣-7.93億元人民幣) (基於截至2023年9月的過去十二個月)。
Therefore, Shenzhen Sunshine Laser & Electronics Technology has an ROCE of 3.0%. Ultimately, that's a low return and it under-performs the Electronic industry average of 5.2%.
因此,深圳陽光激光電子科技的投資回報率爲3.0%。歸根結底,這是一個低迴報,其表現低於電子行業5.2%的平均水平。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240227/0-722b4242cedc7ba256b49ac76e3062f8-0-b0632ab4396e3f53d1d15a90fe011e49.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Shenzhen Sunshine Laser & Electronics Technology's ROCE against it's prior returns. If you'd like to look at how Shenzhen Sunshine Laser & Electronics Technology has performed in the past in other metrics, you can view this free graph of Shenzhen Sunshine Laser & Electronics Technology's 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深圳陽光激光電子科技的投資回報率與先前回報的對比。如果你想在其他指標中查看深圳陽光激光電子科技過去的表現,你可以查看這張深圳陽光激光電子科技過去的收益、收入和現金流的免費圖表。
What The Trend Of ROCE Can Tell Us
ROCE 的趨勢能告訴我們什麼
In terms of Shenzhen Sunshine Laser & Electronics Technology's historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 3.0% from 10% 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's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
就深圳陽光激光電子科技的歷史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10%降至3.0%。另一方面,該公司在去年一直在使用更多資本,但銷售額沒有相應改善,這可能表明這些投資是長期投資。從現在起,值得關注公司的收益,看看這些投資最終是否確實爲利潤做出了貢獻。
Our Take On Shenzhen Sunshine Laser & Electronics Technology's ROCE
我們對深圳陽光激光電子科技的ROCE的看法
To conclude, we've found that Shenzhen Sunshine Laser & Electronics Technology is reinvesting in the business, but returns have been falling. Since the stock has declined 14% over the last five years, investors may not be too optimistic on this trend improving either. 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.
總而言之,我們發現深圳陽光激光電子科技正在對該業務進行再投資,但回報率一直在下降。由於該股在過去五年中下跌了14%,因此投資者對這一趨勢的改善可能也不太樂觀。總的來說,我們對潛在趨勢的啓發不大,我們認爲在其他地方找到多袋裝機的可能性更大。
On a final note, we've found 2 warning signs for Shenzhen Sunshine Laser & Electronics Technology that we think you should be aware of.
最後,我們發現了深圳陽光激光電子科技的兩個警告信號,我們認爲您應該注意這些信號。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
對於那些喜歡投資穩健公司的人,可以查看這份資產負債表穩健和股本回報率高的公司的免費清單。
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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.
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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。