Shanghai Sunglow Packaging TechnologyLtd (SHSE:603499) Might Be Having Difficulty Using Its Capital Effectively
Shanghai Sunglow Packaging TechnologyLtd (SHSE:603499) Might Be Having Difficulty Using Its Capital Effectively
If you're looking for a multi-bagger, there's a few things to keep an eye out for. In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. Although, when we looked at Shanghai Sunglow Packaging TechnologyLtd (SHSE:603499), it didn't seem to tick all of these boxes.
如果你正在寻找一只股票翻番的话,那么必须要注意几点。在完美世界中,我们希望看到一家公司将更多的资本投入到业务中,理想情况下,这些资本带来的回报率也在增加。这说明公司是一个复利机器,能够不断地将盈利重新投资到业务中,从而获得更高的回报。尽管如此,在我们研究上海松霖包装股份有限公司(SHSE:603499)时,它似乎没有完全符合这些要求。
Return On Capital Employed (ROCE): What Is It?
资本雇用回报率(ROCE)是什么?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Shanghai Sunglow Packaging TechnologyLtd is:
如果你从未使用过ROCE,那么它用于衡量一家公司从业务中获得的资本回报率(税前利润)。其在上海松霖包装股份有限公司的计算公式为:
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。
0.03 = CN¥27m ÷ (CN¥1.2b - CN¥336m) (Based on the trailing twelve months to March 2024).
0.03 = 2700万元 ÷ (12亿 - 3.36亿)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, Shanghai Sunglow Packaging TechnologyLtd has an ROCE of 3.0%. In absolute terms, that's a low return and it also under-performs the Packaging industry average of 4.7%.
因此,上海松霖包装股份有限公司的ROCE为3.0%。在绝对数值上,这是一个较低的回报率,而且也低于包装行业的平均水平4.7%。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240611/0-11279ae276507de7c3eac9cd0faf8040-0-7089cd2b8262460c89a92d1aefe53bb1.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Shanghai Sunglow Packaging TechnologyLtd's ROCE against it's prior returns. If you'd like to look at how Shanghai Sunglow Packaging TechnologyLtd has performed in the past in other metrics, you can view this free graph of Shanghai Sunglow Packaging TechnologyLtd's past earnings, revenue and cash flow.
研究一只股票时,历史表现是一个很好的起点,因此你可以看到上海松霖包装股份有限公司的ROCE相对于过去的回报率的图表。如果你想查看上海松霖包装股份有限公司在其他指标上的历史表现,你可以查看上海松霖包装股份有限公司的过去收益、营收和现金流的免费图表。
What Does the ROCE Trend For Shanghai Sunglow Packaging TechnologyLtd Tell Us?
上海松霖包装股份有限公司的ROCE趋势告诉我们什么?
In terms of Shanghai Sunglow Packaging TechnologyLtd's historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 3.0% from 6.2% five years ago. However it looks like Shanghai Sunglow Packaging TechnologyLtd 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 may take some time before the company starts to see any change in earnings from these investments.
就上海松霖包装股份有限公司历史ROCE走势而言,趋势并不理想。在过去的五年中,资本回报率从五年前的6.2%降至3.0%。然而,似乎上海松霖包装股份有限公司可能正在为长期增长进行再投资,因为尽管资本总额增加了,但其销售额在过去12个月内并没有发生太大变化。可能需要一些时间,这家公司才能从这些投资中看到任何收益变化。
What We Can Learn From Shanghai Sunglow Packaging TechnologyLtd's ROCE
从上海松霖包装股份有限公司的ROCE中,我们可以得出什么结论?
Bringing it all together, while we're somewhat encouraged by Shanghai Sunglow Packaging TechnologyLtd's reinvestment in its own business, we're aware that returns are shrinking. And investors may be recognizing these trends since the stock has only returned a total of 12% to shareholders over the last five years. So if you're looking for a multi-bagger, the underlying trends indicate you may have better chances elsewhere.
总之,虽然我们对上海松霖包装股份有限公司把资金重新投回业务中的做法感到一定的鼓励,但我们意识到回报率正在下降。投资者也可能意识到这些趋势,因为在过去五年中,该股票仅为股东带来了总计12%的回报率。因此,如果你正在寻找一只股票翻番的话,这些潜在的趋势表明你可能在其他地方有更好的机会。
One more thing: We've identified 5 warning signs with Shanghai Sunglow Packaging TechnologyLtd (at least 2 which are a bit concerning) , and understanding them would certainly be useful.
还有一件事:我们已经发现上海松霖包装股份有限公司存在5个警示信号(至少有2个有点令人担忧),了解它们肯定是有用的。
While Shanghai Sunglow Packaging TechnologyLtd 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.
虽然上海松霖包装股份有限公司当前的回报率不是最高的,但我们已经编制了一份目前产生超过25%股本回报率的公司列表。查看此免费列表。
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