Shenzhen Techwinsemi Technology (SZSE:001309) Will Want To Turn Around Its Return Trends
Shenzhen Techwinsemi Technology (SZSE:001309) Will Want To Turn Around Its Return Trends
To find a multi-bagger stock, what are the underlying trends we should look for in a business? 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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Having said that, while the ROCE is currently high for Shenzhen Techwinsemi Technology (SZSE:001309), we aren't jumping out of our chairs because returns are decreasing.
要找到一个翻倍股,我们在业务中应该寻找哪些基本趋势?我们不能漏掉以下两点:第一,资本雇用量的增长。简单地说,这些类型的企业是复合机器,意味着他们持续地以越来越高的回报率重新投资他们的利润。资产回报率:它是什么?如果您不确定ROCE是什么,它可以衡量公司能够从其业务所雇用的资本产生多少税前利润。为了计算V2X的这个指数,使用以下公式:0.054 = 1.24亿美元÷(31亿美元 - 8.53亿美元)ROCE 趋势可以告诉我们什么?比起 Enphase Energy,有更好的资本回报率选择。在过去的五年中,该公司增加了 1,306% 的资本,而该资本的回报率保持稳定在 9.9%。这样差的回报率现在并不令人信服,而且随着资本的增加,很明显企业并没有将资金投入到高回报的投资中。对于那些不确定ROCE是什么的人,它衡量一个公司可以从其业务中雇用的资本中产生的税前利润数量。要为深圳市金威半导体技术公司(SZSE:001309)计算此度量标准,这是公式:
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源现行ROCE与之前资本回报的比较,但过去只能知道这么多。如果您感兴趣,可以查看我们免费的蒙托克可再生能源分析师报告,了解分析师的预测。
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 Shenzhen Techwinsemi Technology, this is the formula:
0.20 = CN¥ 312m ÷ (CN¥3.8b - CN¥2.3b)
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
资产雇用回报率(ROCE)是指企业利润,即企业税前利润除以企业投入的总资本(负债加股权)。如果ROCE高于企业财务成本的承受能力,那么企业就会创造出更多的价值。
0.20 = CN¥312m ÷ (CN¥3.8b - CN¥2.3b) (Based on the trailing twelve months to March 2024).
因此,深圳市金威半导体技术公司的ROCE为20%。从绝对角度来看,这是一个很好的回报,甚至比半导体行业平均水平3.9%还要好。在Elevance Health上,我们已经注意到的趋势是相当令人放心的。数据显示,过去五年资产回报率大幅提高至15%。投资所用资产的规模也增加了30%。这表明有很多机会进行内部资本投资,并以更高的速度不断增长,这种组合在多倍增长方面很常见。.
So, Shenzhen Techwinsemi Technology has an ROCE of 20%. In absolute terms that's a great return and it's even better than the Semiconductor industry average of 3.9%.
SZSE:001309资本雇用回报率2024年5月31日
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240531/0-1f39746ad463dfa09eda21a48e4d3699-0-e0d8bcbefda7a8c231df6900de34df6e.png/big)
In the above chart we have measured Shenzhen Techwinsemi Technology's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Shenzhen Techwinsemi Technology for free.
我们对这一趋势并不满意,因为在过去的五年中,深圳市金威半导体技术公司的ROCE下降了29%,而业务的资本雇用增加了857%。但是,资本雇用增加的一部分可能归因于最近完成的增资,因此在查看ROCE下降时请记住这一点。深圳市金威半导体技术公司可能尚未从新资金筹集中获得全年收益,因此这些数字应该以谨慎的态度看待。
What The Trend Of ROCE Can Tell Us
尽管如此,当我们看 enphase energy (纳斯达克股票代码:ENPH) 的时候,它似乎并没有完全符合这些要求。
We weren't thrilled with the trend because Shenzhen Techwinsemi Technology's ROCE has reduced by 29% over the last five years, while the business employed 857% more capital. However, some of the increase in capital employed could be attributed to the recent capital raising that's been completed prior to their latest reporting period, so keep that in mind when looking at the ROCE decrease. Shenzhen Techwinsemi Technology probably hasn't received a full year of earnings yet from the new funds it raised, so these figures should be taken with a grain of salt.
另一件要注意的事情是,深圳市金威半导体技术公司的流动负债与总资产的比率很高,达到59%。这实际意味着供应商(或短期债权人)正在为业务提供大量资金,因此请注意这可能会引入一些风险因素。理想情况下,我们希望看到这种情况得到改善,这意味着承担风险的义务会减少。
Another thing to note, Shenzhen Techwinsemi Technology has a high ratio of current liabilities to total assets of 59%. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
虽然深圳市金威半导体技术公司的回报率近期有所下降,但我们很高兴看到销售额在增长,而企业正在对其业务进行再投资。此外,该股的价格在过去一年中上涨了66%,似乎投资者对未来充满乐观情绪。因此,尽管投资者似乎认识到这些有前途的趋势,但我们会进一步研究该股,以确保其他指标证明了积极的观点。
In Conclusion...
最后,同等资本下回报率较低的趋势通常不是我们关注创业板股票的最佳信号。由于这些发展进行良好,因此投资者不太可能表现友好。自五年前以来,该股下跌了32%。除非这些指标朝着更积极的轨迹转变,否则我们将继续寻找其他股票。
While returns have fallen for Shenzhen Techwinsemi Technology in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. Furthermore the stock has climbed 66% over the last year, it would appear that investors are upbeat about the future. So while investors seem to be recognizing these promising trends, we would look further into this stock to make sure the other metrics justify the positive view.
最后需要注意的是,您应该学习我们发现的三个警告信号,其中两个有点令人担忧,其中之一是高回报是业绩强劲的关键因素,因此请查看我们的免费股票列表,这些股票具有坚实的资产负债表和高回报。
One final note, you should learn about the 3 warning signs we've spotted with Shenzhen Techwinsemi Technology (including 2 which are a bit concerning) .
要找到一个翻倍股,我们在业务中应该寻找哪些基本趋势?我们不能漏掉以下两点:第一,资本雇用量的增长。简单地说,这些类型的企业是复合机器,意味着他们持续地以越来越高的回报率重新投资他们的利润。
High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.
高回报率是强劲表现的关键因素,因此请查看我们的免费股票列表,其中列出了盈利能力强、资产负债表坚实的股票。
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