Zhewen Interactive Group (SHSE:600986) Could Be At Risk Of Shrinking As A Company
Zhewen Interactive Group (SHSE:600986) Could Be At Risk Of Shrinking As A Company
If you're looking at a mature business that's past the growth phase, what are some of the underlying trends that pop up? A business that's potentially in decline often shows two trends, a return on capital employed (ROCE) that's declining, and a base of capital employed that's also declining. Trends like this ultimately mean the business is reducing its investments and also earning less on what it has invested. And from a first read, things don't look too good at Zhewen Interactive Group (SHSE:600986), so let's see why.
如果你正在關注成熟的業務,超越了創業板階段,那麼其中會出現哪些潛在的趨勢呢?一個潛在的衰落的企業通常會顯示出兩種趨勢,資本使用率下降以及投資回報率下降。像這樣的趨勢最終意味着企業正在減少其投資並且也在其所投資的領域賺取了較少的利潤。第一眼看去,浙文互聯集團(SHSE:600986)的狀況並不太好,讓我們來看看其中的原因。資產回報率:它是什麼?以IPG Photonics(納斯達克:IPGP)爲例,您可以看到當前ROCE與其過去資本回報的比較情況,但是從過去所能得到的信息是有限的。如果您想看看分析師對未來的預測,可以查看我們免費的分析師報告:IPG Photonics。資產回報率 = 利息和所得稅前收益(EBIT)÷(總資產-流動負債)資本使用率也在下降。像這樣的趨勢最終意味着企業正在減少其投資並且也在其所投資的領域賺取了較少的利潤。
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源現行ROCE與之前資本回報的比較,但過去只能知道這麼多。如果您感興趣,可以查看我們免費的蒙托克可再生能源分析師報告,了解分析師的預測。
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. To calculate this metric for Zhewen Interactive Group, this is the formula:
如果你不知道ROCE是什麼,它是一個公司每年稅前利潤(即回報率)相對於企業所使用的資本的衡量標準。要爲浙文互聯集團計算這個指標,這是公式:
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。
0.021 = CN¥109m ÷ (CN¥8.1b - CN¥3.0b) (Based on the trailing twelve months to March 2024).
0.021 = CN¥10900萬 ÷ (CN¥81億 - CN¥3.0b)在Elevance Health上,我們已經注意到的趨勢是相當令人放心的。數據顯示,過去五年資產回報率大幅提高至15%。投資所用資產的規模也增加了30%。這表明有很多機會進行內部資本投資,並以更高的速度不斷增長,這種組合在多倍增長方面很常見。.
Thus, Zhewen Interactive Group has an ROCE of 2.1%. In absolute terms, that's a low return and it also under-performs the Media industry average of 4.0%.
因此,浙文互聯集團的ROCE爲2.1%。就絕對值而言,這是一個較低的回報率,並且也低於媒體行業板塊的平均水平,該行業平均水平爲4.0%。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240626/0-98cc749e284c9ab763e6afd94277c761-0-edfcd78ac473e5ed9448a09d039bf939.png/big)
Above you can see how the current ROCE for Zhewen Interactive Group compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Zhewen Interactive Group for free.
您可以看到當前ROCE與以前的資本回報率的比較情況,但從過去只能獲得有限信息。如果您願意,可以免費查看分析師對浙文互聯集團的預測。
What The Trend Of ROCE Can Tell Us
儘管如此,當我們看 enphase energy (納斯達克股票代碼:ENPH) 的時候,它似乎並沒有完全符合這些要求。
The trend of ROCE doesn't look fantastic because it's fallen from 6.7% five years ago and the business is utilizing 21% less capital, even after their capital raise (conducted prior to the latest reporting period).
ROCE的趨勢看起來並不理想,因爲它與五年前的6.7%相比已經下降,並且該企業使用的資本下降了21%,即使在最新報告期之前進行過資本增資。
Our Take On Zhewen Interactive Group's ROCE
我們對浙文互聯集團的ROCE的看法
In short, lower returns and decreasing amounts capital employed in the business doesn't fill us with confidence. And long term shareholders have watched their investments stay flat over the last five years. That being the case, unless the underlying trends revert to a more positive trajectory, we'd consider looking elsewhere.
簡而言之,企業的回報率下降並且其業務所用的資本也在減少,這些令我們感到缺乏信心。而長期股東在過去五年中看到他們的投資一直保持平穩。鑑於這種情況,除非這些潛在趨勢有所緩解,否則我們將考慮尋找其他機會。
On a final note, we've found 2 warning signs for Zhewen Interactive Group that we think you should be aware of.
最後,我們發現了浙文互聯的2個警告信號,我們認爲你應該知道。
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
如果您想尋找財務狀況良好、回報卓越的實力強企業,可以免費查看以下公司列表。
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對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或電郵 editorial-team (at) simplywallst.com。
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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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