Hubei Kailong Chemical Group (SZSE:002783) Is Experiencing Growth In Returns On Capital
Hubei Kailong Chemical Group (SZSE:002783) Is Experiencing Growth In Returns On Capital
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. Speaking of which, we noticed some great changes in Hubei Kailong Chemical Group's (SZSE:002783) returns on capital, so let's have a look.
要找到一隻多袋裝箱的股票,我們應該在企業中尋找哪些潛在趨勢?首先,我們希望看到經過驗證的 返回 關於正在增加的資本使用率(ROCE),其次是擴大 基礎 所用資本的比例。如果你看到這一點,這通常意味着它是一家擁有良好商業模式和大量盈利再投資機會的公司。說到這裏,我們注意到湖北開龍化工集團(SZSE:002783)的資本回報率發生了一些很大的變化,讓我們來看看吧。
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 Hubei Kailong Chemical Group:
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計算湖北開龍化工集團的計算公式:
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)
0.10 = CN¥380m ÷ (CN¥7.5b - CN¥3.8b) (Based on the trailing twelve months to September 2023).
0.10 = 3.8億元人民幣 ÷(7.5億元人民幣-38億元人民幣) (基於截至2023年9月的過去十二個月)。
So, Hubei Kailong Chemical Group has an ROCE of 10%. In absolute terms, that's a satisfactory return, but compared to the Chemicals industry average of 5.8% it's much better.
因此,湖北開龍化工集團的投資回報率爲10%。從絕對值來看,這是一個令人滿意的回報,但與化工行業平均水平的5.8%相比,回報要好得多。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240427/0-23e65a73113b5256e94869e8f6119e2c-0-d62203f72eef080ee6c04c55fc0fcf17.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Hubei Kailong Chemical Group's ROCE against it's prior returns. If you're interested in investigating Hubei Kailong Chemical Group's past further, check out this free graph covering Hubei Kailong Chemical Group'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湖北開龍化工集團投資回報率與先前回報對比的指標。如果您有興趣進一步調查湖北開龍化工集團的過去,請查看這張涵蓋湖北開龍化工集團過去的收益、收入和現金流的免費圖表。
What Does the ROCE Trend For Hubei Kailong Chemical Group Tell Us?
湖北開龍化工集團的投資回報率趨勢告訴我們什麼?
The trends we've noticed at Hubei Kailong Chemical Group are quite reassuring. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 10%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 46%. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers.
我們在湖北開龍化工集團注意到的趨勢相當令人放心。數字顯示,在過去五年中,所用資本的回報率已大幅增長至10%。實際上,該公司每使用1美元資本就能賺更多的錢,值得注意的是,資本金額也增加了46%。這可能表明,內部有很多機會以更高的利率進行資本投資,這種組合在多袋公司中很常見。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Essentially the business now has suppliers or short-term creditors funding about 50% of its operations, which isn't ideal. And with current liabilities at those levels, that's pretty high.
順便說一句,我們注意到,投資回報率的改善似乎部分是由流動負債的增加推動的。從本質上講,該企業現在有供應商或短期債權人爲其約50%的業務提供資金,這並不理想。而且,在流動負債處於這些水平的情況下,這是相當高的。
The Key Takeaway
關鍵要點
In summary, it's great to see that Hubei Kailong Chemical Group can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. Given the stock has declined 47% in the last five years, this could be a good investment if the valuation and other metrics are also appealing. With that in mind, we believe the promising trends warrant this stock for further investigation.
總而言之,很高興看到湖北開龍化工集團能夠通過持續的資本再投資來提高回報率,從而提高回報率,因爲這些是那些備受追捧的多袋裝企業的一些關鍵要素。鑑於該股在過去五年中下跌了47%,如果估值和其他指標也具有吸引力,這可能是一項不錯的投資。考慮到這一點,我們認爲前景樂觀的趨勢值得對該股進行進一步調查。
If you'd like to know more about Hubei Kailong Chemical Group, we've spotted 4 warning signs, and 2 of them can't be ignored.
如果您想進一步了解湖北開龍化工集團,我們已經發現了4個警告標誌,其中2個不容忽視。
While Hubei Kailong Chemical Group 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.
儘管湖北開龍化工集團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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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。