Central New Energy Holding Group (HKG:1735) Is Experiencing Growth In Returns On Capital
Central New Energy Holding Group (HKG:1735) Is Experiencing Growth In Returns On Capital
There are a few key trends to look for if we want to identify the next multi-bagger. 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. 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 Central New Energy Holding Group (HKG:1735) and its trend of ROCE, we really liked what we saw.
如果我們想找到下一個多倍增長股,就需要關注一些關鍵趨勢。其中,我們需要看到兩件事情,首先是在使用資本方面增長,這表明它是一個複利機器 ,能夠不斷將收益再投入業務中,從而產生更高的回報。考慮到這一點,我們注意到了DexCom(納斯達克:DXCM)正在出現一些有前途的趨勢,我們進行了更深入的研究。資產回報率:它是什麼?如果您不確定ROCE是什麼,它可以衡量公司能夠從其業務所僱用的資本產生多少稅前利潤。爲了計算V2X的這個指數,使用以下公式:0.054 = 1.24億美元÷(31億美元 - 8.53億美元)ROCE 趨勢可以告訴我們什麼?比起 Enphase Energy,有更好的資本回報率選擇。在過去的五年中,該公司增加了 1,306% 的資本,而該資本的回報率保持穩定在 9.9%。這樣差的回報率現在並不令人信服,而且隨着資本的增加,很明顯企業並沒有將資金投入到高回報的投資中。這表明它是一個複合機器,能夠不斷地將其收益再投入業務中,從而產生更高的回報。因此,當我們觀察中新能源控股集團(HKG:1735)和其ROCE趨勢時,我們確實看到了令人滿意的結果。
What Is Return On Capital Employed (ROCE)?
我們對 Enphase Energy 的資本僱用回報率的看法:正如我們上面看到的,Enphase Energy 的資本回報率沒有提高,但它正在重新投資於業務。投資者必須認爲未來會有更好的前景,因爲股票表現良好,使持股五年以上的股東獲得了 690% 的收益。最終,如果基本趨勢持續存在,我們不會對它成爲一隻多頭股持有期很久很有信心。
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. The formula for this calculation on Central New Energy Holding Group is:
對於那些不知道的人,ROCE是衡量公司每年稅前利潤(其回報)相對於業務中使用的資本的指標。該計算公式應用於中新能源控股集團的情況是:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
資產僱用回報率(ROCE)是指企業利潤,即企業稅前利潤除以企業投入的總資本(負債加股權)。如果ROCE高於企業財務成本的承受能力,那麼企業就會創造出更多的價值。
0.051 = HK$82m ÷ (HK$3.5b - HK$1.9b) (Based on the trailing twelve months to December 2023).
0.051 = HK$8200萬 ÷ (HK$35億 - HK$1.9b)(基於截至2023年12月的過去十二個月).
Therefore, Central New Energy Holding Group has an ROCE of 5.1%. In absolute terms, that's a low return and it also under-performs the Construction industry average of 7.6%.
因此,中新能源控股集團的ROCE是5.1%。就絕對值而言,這是一個較低的回報,並且其表現低於建造業板塊的平均水平爲7.6%。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240613/0-3dfbb86c7e0783fcd26d9b7fe1607f5c-0-8db376d2f027dfa25ba25603ce05cfe4.png/big)
Historical performance is a great place to start when researching a stock so above you can see the gauge for Central New Energy Holding Group's ROCE against it's prior returns. If you'd like to look at how Central New Energy Holding Group has performed in the past in other metrics, you can view this free graph of Central New Energy Holding Group's past earnings, revenue and cash flow.
歷史表現是研究股票的好起點,因此您可以看到中新能源控股集團的ROCE對先前的回報的度量表。如果您想查看中新能源控股集團在過去的其他指標中的表現,可以查看中新能源控股集團過去收益、營收和現金流的免費圖表。
So How Is Central New Energy Holding Group's ROCE Trending?
那麼,中新能源控股集團的ROCE趨勢如何呢?
While in absolute terms it isn't a high ROCE, it's promising to see that it has been moving in the right direction. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 5.1%. Basically the business is earning more per dollar of capital invested and in addition to that, 817% more capital is being employed now too. So we're very much inspired by what we're seeing at Central New Energy Holding Group thanks to its ability to profitably reinvest capital.
雖然其絕對ROCE值不高,但看到其向正確方向發展是有希望的。數字顯示,在過去的五年中,使用資本所產生的回報顯著增長至5.1%。基本上,該業務正在賺取每投資一美元的資本,此外,現在還有比以前多817%的資本被投入使用。因此,中新能源控股集團能夠有能力獲利並不斷地向業務再投資,我們深受鼓舞。
For the record though, there was a noticeable increase in the company's current liabilities over the period, so we would attribute some of the ROCE growth to that. Essentially the business now has suppliers or short-term creditors funding about 54% of its operations, which isn't ideal. Given it's pretty high ratio, we'd remind investors that having current liabilities at those levels can bring about some risks in certain businesses.
不過,該公司的流動負債在該時期有一個明顯的增加,因此我們會將ROCE增長的一部分歸因於此。基本上,該業務現在有約54%的供應商或短期債權人資助其運營,這並不理想。考慮到它的相當高的比率,我們提醒投資者在某些企業中持有當前負債水平可能存在一些風險。
The Bottom Line On Central New Energy Holding Group's ROCE
總之,看到中新能源控股集團正在從先前的投資中獲得回報並擴大其資本基礎是非常美妙的事情。此外,在過去的五年中,出色的總回報率達到了3845%,這告訴我們投資者預計未來會有更多好事情發生。鑑於這一點,我們仍認爲這家公司具備良好的基本面,值得進一步盡職調查。
All in all, it's terrific to see that Central New Energy Holding Group is reaping the rewards from prior investments and is growing its capital base. And a remarkable 3,845% total return over the last five years tells us that investors are expecting more good things to come in the future. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
如果您想了解更多有關中新能源控股集團的信息,我們已經發現了兩個警告信號,其中一個不應被忽視。
If you'd like to know more about Central New Energy Holding Group, we've spotted 2 warning signs, and 1 of them shouldn't be ignored.
雖然中新能源控股集團的回報並不是最高的,但請查看此處列出的具有堅實資產負債表的公司的免費公司列表。
While Central New Energy Holding Group isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。