Returns Are Gaining Momentum At Offshore Oil EngineeringLtd (SHSE:600583)
Returns Are Gaining Momentum At Offshore Oil EngineeringLtd (SHSE:600583)
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. 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. So when we looked at Offshore Oil EngineeringLtd (SHSE:600583) and its trend of ROCE, we really liked what we saw.
要发掘具备巨大增长潜力的企业并不容易，但如果我们查看一些关键的财务指标是可能的。首先，我们需要看到一个经过验证的资本回报率高的业务。最终，这证明它是一家不断以不断增加的回报率再投资利润的公司。然而，经过对esco科技(NYSE:ESE)的调查后，我们认为它的当前趋势并不符合多倍增长的范例。资产回报率：它是什么？了解资本使用回报率（ROCE）如果你以前没有接触过ROCE，它衡量公司从资本使用中产生的“回报”（税前利润）。要为洪恩计算此指标，这是公式:资产回报率 = 利息和所得税前收益（EBIT）÷（总资产-流动负债）最终，这表明这是一家以递增的投资回报率重新投资利润的业务。所以，当我们看了中国海洋石油工程股份有限公司（SHSE：600583）及其ROCE的趋势时，我们非常喜欢我们所看到的。
What Is Return On Capital Employed (ROCE)?
我们对 Enphase Energy 的资本雇用回报率的看法：正如我们上面看到的，Enphase Energy 的资本回报率没有提高，但它正在重新投资于业务。投资者必须认为未来会有更好的前景，因为股票表现良好，使持股五年以上的股东获得了 690% 的收益。最终，如果基本趋势持续存在，我们不会对它成为一只多头股持有期很久很有信心。
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 Offshore Oil EngineeringLtd, this is the formula:
如果您之前没有使用ROCE，那么它可以衡量公司从业务所占用的资本中产生的“回报”（税前利润）。要为中国海洋石油工程股份有限公司计算此指标的公式如下：
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。
0.051 = CN¥1.4b ÷ (CN¥44b - CN¥16b) (Based on the trailing twelve months to March 2024).
0.051 = CN¥14亿 ÷ (CN¥440亿 - CN¥16b)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。.
Therefore, Offshore Oil EngineeringLtd has an ROCE of 5.1%. In absolute terms, that's a low return and it also under-performs the Energy Services industry average of 6.5%.
因此，中国海洋石油工程股份有限公司的ROCE为5.1%。绝对来说，这是一个低回报率，也低于能源服务行业平均水平6.5%。
In the above chart we have measured Offshore Oil EngineeringLtd's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free analyst report for Offshore Oil EngineeringLtd .
在上面的图表中，我们测量了中国海洋石油工程股份有限公司以前的ROCE和以前的业绩，但未来可能更为重要。如果您有兴趣，可以查看我们免费的中国海洋石油工程股份有限公司分析师报告中的分析师预测。
How Are Returns Trending?
综合上述，Cimpress非常有效地提高了其资本利用率所产生的回报。考虑到股票过去五年保持稳定，如果其他指标也不错，则可能存在机会。因此，进一步研究这家公司并确定这些趋势是否会持续是合理的。
The fact that Offshore Oil EngineeringLtd is now generating some pre-tax profits from its prior investments is very encouraging. The company was generating losses five years ago, but now it's earning 5.1% which is a sight for sore eyes. Not only that, but the company is utilizing 21% more capital than before, but that's to be expected from a company trying to break into profitability. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, both common traits of a multi-bagger.
中国海洋石油工程股份有限公司现在从其之前的投资中产生了一些税前利润的事实非常令人鼓舞。该公司五年前还在亏损，但现在的回报率为5.1%，这是一种令人欣慰的现象。不仅如此，公司的资本比以前多利用了21%，但这是可以预料的，因为该公司试图实现盈利。这可能表明，在公司内部和以更高的比率投资资本的机会还有很多，这两者都是多倍增长的共同特征。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Effectively this means that suppliers or short-term creditors are now funding 37% of the business, which is more than it was five years ago. Keep an eye out for future increases because when the ratio of current liabilities to total assets gets particularly high, this can introduce some new risks for the business.
值得一提的是，我们注意到ROCE的改善似乎部分是由当前负债的增加推动的。实际上，这意味着供应商或短期债权人现在为公司的37%提供资金，这比五年前更多。请留意未来的增长，因为当流动负债与总资产的比率特别高时，这可能为业务引入一些新的风险。
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。
Long story short, we're delighted to see that Offshore Oil EngineeringLtd's reinvestment activities have paid off and the company is now profitable. Investors may not be impressed by the favorable underlying trends yet because over the last five years the stock has only returned 13% to shareholders. So with that in mind, we think the stock deserves further research.
长话短说，我们很高兴看到中国海洋石油工程股份有限公司的再投资活动已经得到了回报，公司现在是盈利的。投资者可能还没有对良好的基本趋势印象深刻，因为在过去的五年中，股票只给股东带来了13%的回报。因此，请考虑进一步研究这支股票。
Offshore Oil EngineeringLtd does have some risks though, and we've spotted 1 warning sign for Offshore Oil EngineeringLtd that you might be interested in.
中国海洋石油工程股份有限公司确实存在一些风险，我们已经发现了1个警告信号，或许您会感兴趣。
While Offshore Oil EngineeringLtd isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
虽然中国海洋石油工程股份有限公司的回报率不是最高的，但是请看这个免费的公司列表，这些公司以坚实的资产负债表获得高回报率。
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