There's Been No Shortage Of Growth Recently For National Silicon Industry GroupLtd's (SHSE:688126) Returns On Capital
There's Been No Shortage Of Growth Recently For National Silicon Industry GroupLtd's (SHSE:688126) Returns On Capital
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. So when we looked at National Silicon Industry GroupLtd (SHSE:688126) and its trend of ROCE, we really liked what we saw.
要找到一只多袋装箱的股票,我们应该在企业中寻找哪些潜在趋势?首先,我们想找一个正在成长的 返回 关于已用资本(ROCE),然后除此之外,还不断增加 基础 所用资本的比例。这向我们表明,它是一台复合机器,能够持续将其收益再投资到业务中并产生更高的回报。因此,当我们研究国家硅业集团有限公司(SHSE: 688126)及其投资回报率趋势时,我们真的很喜欢我们所看到的。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (ROCE)
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for National Silicon Industry GroupLtd, this is the formula:
对于那些不确定ROCE是什么的人,它衡量的是公司从其业务中使用的资本中可以产生的税前利润金额。要计算国家硅业集团有限公司的这一指标,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)
0.0073 = CN¥179m ÷ (CN¥27b - CN¥2.1b) (Based on the trailing twelve months to December 2023).
0.0073 = 1.79亿元人民币 ÷(27亿元人民币-21亿元人民币) (基于截至2023年12月的过去十二个月)。
Thus, National Silicon Industry GroupLtd has an ROCE of 0.7%. Ultimately, that's a low return and it under-performs the Semiconductor industry average of 5.5%.
因此,国家硅工业集团有限公司的投资回报率为0.7%。归根结底,这是一个低回报,其表现低于半导体行业5.5%的平均水平。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240325/0-d780567cb055a347f8a83f7367d48863-0-4d39340680cb3fff607b4f8b02179f0d.png/big)
In the above chart we have measured National Silicon Industry GroupLtd'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 National Silicon Industry GroupLtd .
在上图中,我们将国家硅业集团有限公司之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,可以在我们的国家硅工业集团有限公司免费分析师报告中查看分析师的预测。
What The Trend Of ROCE Can Tell Us
ROCE 的趋势能告诉我们什么
We're delighted to see that National Silicon Industry GroupLtd is reaping rewards from its investments and is now generating some pre-tax profits. Shareholders would no doubt be pleased with this because the business was loss-making five years ago but is is now generating 0.7% on its capital. Not only that, but the company is utilizing 360% more capital than before, but that's to be expected from a company trying to break into profitability. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, both common traits of a multi-bagger.
我们很高兴看到国家硅业集团有限公司正在从其投资中获得回报,现在正在产生一些税前利润。毫无疑问,股东们会对此感到满意,因为该企业在五年前亏损,但现在的资本收益为0.7%。不仅如此,该公司使用的资本比以前增加了360%,对于一家试图实现盈利的公司来说,这是意料之中的。这可能表明,有很多机会在内部进行资本投资,并以更高的利率进行资本投资,这两者都是多袋投资者的共同特征。
On a related note, the company's ratio of current liabilities to total assets has decreased to 7.9%, which basically reduces it's funding from the likes of short-term creditors or suppliers. Therefore we can rest assured that the growth in ROCE is a result of the business' fundamental improvements, rather than a cooking class featuring this company's books.
与此相关的是,该公司的流动负债占总资产的比率已降至7.9%,这基本上减少了来自短期债权人或供应商等机构的融资。因此,我们可以放心,ROCE的增长是业务基本改善的结果,而不是以该公司书籍为特色的烹饪课。
The Bottom Line
底线
Long story short, we're delighted to see that National Silicon Industry GroupLtd's reinvestment activities have paid off and the company is now profitable. And since the stock has fallen 41% over the last three years, there might be an opportunity here. That being the case, research into the company's current valuation metrics and future prospects seems fitting.
长话短说,我们很高兴看到国家硅业集团有限公司的再投资活动取得了回报,该公司现在已经盈利。而且,由于该股在过去三年中下跌了41%,因此这里可能有机会。既然如此,对公司当前估值指标和未来前景的研究似乎很合适。
On a separate note, we've found 1 warning sign for National Silicon Industry GroupLtd you'll probably want to know about.
另一方面,我们发现了你可能想知道的国家硅业集团有限公司的1个警告信号。
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.
对于那些喜欢投资稳健公司的人,可以查看这份资产负债表稳健和股本回报率高的公司的免费清单。
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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。