Shenzhen Sunline Tech (SZSE:300348) Has More To Do To Multiply In Value Going Forward
Shenzhen Sunline Tech (SZSE:300348) Has More To Do To Multiply In Value Going Forward
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. 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 Sunline Tech (SZSE:300348) and its ROCE trend, we weren't exactly thrilled.
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。歸根結底,這表明這是一家以更高的回報率對利潤進行再投資的企業。有鑑於此,當我們研究深圳申菱科技(深圳證券交易所代碼:300348)及其投資回報率趨勢時,我們並不十分興奮。
Return On Capital Employed (ROCE): What Is It?
資本使用回報率(ROCE):這是什麼?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Shenzhen Sunline Tech, this is the formula:
如果你以前沒有與ROCE合作過,它會衡量公司從其業務中使用的資本中產生的 “回報”(稅前利潤)。要計算深圳陽光科技的這個指標,公式如下:
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)
0.034 = CN¥56m ÷ (CN¥2.4b - CN¥796m) (Based on the trailing twelve months to March 2024).
0.034 = 5600萬元人民幣 ÷(24億元人民幣-7.96億元人民幣) (基於截至2024年3月的過去十二個月)。
Thus, Shenzhen Sunline Tech has an ROCE of 3.4%. Ultimately, that's a low return and it under-performs the IT industry average of 4.3%.
因此,深圳陽光科技的投資回報率爲3.4%。歸根結底,這是一個低迴報,其表現低於IT行業4.3%的平均水平。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240514/0-e9b5a5049811677f85241747caa37e69-0-d15a9b61d9b04eaea15a285eb0cfc8df.png/big)
In the above chart we have measured Shenzhen Sunline Tech'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 Shenzhen Sunline Tech .
在上圖中,我們將深圳陽光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,你應該查看我們爲深圳陽光科技提供的免費分析師報告。
What The Trend Of ROCE Can Tell Us
ROCE 的趨勢能告訴我們什麼
Things have been pretty stable at Shenzhen Sunline Tech, with its capital employed and returns on that capital staying somewhat the same for the last five years. It's not uncommon to see this when looking at a mature and stable business that isn't re-investing its earnings because it has likely passed that phase of the business cycle. So don't be surprised if Shenzhen Sunline Tech doesn't end up being a multi-bagger in a few years time.
深圳陽光科技的情況一直相當穩定,在過去五年中,其資本利用率和資本回報率基本保持不變。在研究一家成熟穩定的企業時,這種情況並不少見,因爲該企業可能已經過了商業週期的這一階段,因此不進行收益再投資。因此,如果深圳盛凌科技在幾年內沒有成爲一家多包商,也不要感到驚訝。
Another point to note, we noticed the company has increased current liabilities over the last five years. This is intriguing because if current liabilities hadn't increased to 33% of total assets, this reported ROCE would probably be less than3.4% because total capital employed would be higher.The 3.4% ROCE could be even lower if current liabilities weren't 33% of total assets, because the the formula would show a larger base of total capital employed. With that in mind, just be wary if this ratio increases in the future, because if it gets particularly high, this brings with it some new elements of risk.
需要注意的另一點是,我們注意到該公司的流動負債在過去五年中有所增加。這很有趣,因爲如果流動負債沒有增加到總資產的33%,則報告的投資回報率可能會低於3.4%,因爲所使用的總資本會更高。如果流動負債不佔總資產的33%,則3.4%的投資回報率可能會更低,因爲該公式將顯示動用總資本的基數更大。考慮到這一點,只要警惕這個比率將來是否會增加,因爲如果這個比率變得特別高,就會帶來一些新的風險因素。
The Key Takeaway
關鍵要點
We can conclude that in regards to Shenzhen Sunline Tech's returns on capital employed and the trends, there isn't much change to report on. Since the stock has declined 28% over the last five years, investors may not be too optimistic on this trend improving either. All in all, the inherent trends aren't typical of multi-baggers, so if that's what you're after, we think you might have more luck elsewhere.
我們可以得出結論,就深圳陽光科技的已動用資本回報率和趨勢而言,沒有太大的變化可以報告。由於該股在過去五年中下跌了28%,因此投資者對這一趨勢的改善可能也不太樂觀。總而言之,多裝袋機的固有趨勢並不常見,因此,如果您想要這樣做,我們認爲您在其他地方可能會有更多的運氣。
Shenzhen Sunline Tech could be trading at an attractive price in other respects, so you might find our free intrinsic value estimation for 300348 on our platform quite valuable.
深圳Sunline Tech在其他方面可能會以誘人的價格進行交易,因此您可能會發現我們在我們的平台上對300348的免費內在價值估算非常有價值。
While Shenzhen Sunline Tech 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.
儘管深圳陽光科技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。