Guangdong South New MediaLtd (SZSE:300770) Might Be Having Difficulty Using Its Capital Effectively
Guangdong South New MediaLtd (SZSE:300770) Might Be Having Difficulty Using Its Capital Effectively
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. 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. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. So when we looked at Guangdong South New MediaLtd (SZSE:300770), they do have a high ROCE, but we weren't exactly elated from how returns are trending.
如果我们想找到潜在的多袋装袋机,通常有一些潜在的趋势可以提供线索。除其他外,我们希望看到两件事;首先,成长 返回 论资本使用率(ROCE),其次是公司的扩张 金额 所用资本的比例。基本上,这意味着公司拥有可以继续进行再投资的盈利计划,这是复合机器的特征。因此,当我们查看广东南方新媒体TD(深圳证券交易所代码:300770)时,它们的投资回报率确实很高,但我们对回报率的趋势并不完全感到兴高采烈。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
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. To calculate this metric for Guangdong South New MediaLtd, this is the formula:
对于那些不知道的人来说,ROCE是衡量公司年度税前利润(其回报率)的指标,相对于该业务使用的资本。要计算广东南方新媒体的这个指标,公式如下:
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)
0.20 = CN¥699m ÷ (CN¥4.7b - CN¥1.2b) (Based on the trailing twelve months to December 2023).
0.20 = 6.99亿元人民币 ÷(4.7亿元人民币-12亿元人民币) (基于截至2023年12月的过去十二个月)。
Therefore, Guangdong South New MediaLtd has an ROCE of 20%. In absolute terms that's a great return and it's even better than the Media industry average of 4.8%.
因此,广东南方新媒体的投资回报率为20%。从绝对值来看,这是一个不错的回报,甚至比媒体行业平均水平的4.8%还要好。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240324/0-1ad88b3a9c74ca3bd23ce00257dd91fa-0-d09d92fe785bbe0ad19cbbf60924518f.png/big)
In the above chart we have measured Guangdong South New MediaLtd's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free analyst report for Guangdong South New MediaLtd .
在上图中,我们将广东南方新媒体先前的投资回报率与之前的表现进行了对比,但可以说,未来更为重要。如果您有兴趣,可以在我们的广东南方新媒体免费分析师报告中查看分析师的预测。
What Can We Tell From Guangdong South New MediaLtd's ROCE Trend?
我们可以从广东南方新媒体的投资回报率趋势中得出什么?
When we looked at the ROCE trend at Guangdong South New MediaLtd, we didn't gain much confidence. Historically returns on capital were even higher at 29%, but they have dropped over the last five years. However it looks like Guangdong South New MediaLtd might be reinvesting for long term growth because while capital employed has increased, the company's sales haven't changed much in the last 12 months. 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.
当我们查看广东南方新媒体的投资回报率趋势时,我们并没有获得太大的信心。从历史上看,资本回报率甚至更高,为29%,但在过去五年中有所下降。但是,看来广东南方新媒体TD可能正在进行再投资以实现长期增长,因为尽管动用资本有所增加,但该公司的销售额在过去12个月中没有太大变化。从现在起,值得关注公司的收益,看看这些投资最终是否确实为利润做出了贡献。
The Bottom Line On Guangdong South New MediaLtd's ROCE
广东南方新媒体有限公司投资回报率的底线
In summary, Guangdong South New MediaLtd is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. Unsurprisingly then, the total return to shareholders over the last three years has been flat. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.
总而言之,广东南方新媒体正在将资金再投资到该业务中以实现增长,但不幸的是,销售额似乎还没有太大增长。因此,毫不奇怪,在过去三年中,股东的总回报率一直持平。无论如何,该股票不具有上面讨论的多袋装股票的特征,因此,如果您正在寻找这种特征,我们认为您在其他地方会更幸运。
One more thing to note, we've identified 1 warning sign with Guangdong South New MediaLtd and understanding it should be part of your investment process.
还有一件事需要注意,我们已经向广东南方新媒体确定了1个警告信号,并了解它应该成为您投资过程的一部分。
Guangdong South New MediaLtd is not the only stock earning high returns. If you'd like to see more, check out our free list of companies earning high returns on equity with solid fundamentals.
广东南方新媒体并不是唯一获得高回报的股票。如果您想了解更多,请查看我们的免费公司名单,列出了基本面稳健且具有高股本回报率的公司。
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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。