Investors Will Want Stella International Holdings' (HKG:1836) Growth In ROCE To Persist
Investors Will Want Stella International Holdings' (HKG:1836) Growth In ROCE To Persist
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'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. So on that note, Stella International Holdings (HKG:1836) looks quite promising in regards to its trends of return on capital.
要找到一個有潛力大幅增長的業務並不容易,但如果我們看幾個關鍵的財務指標是可能的。首先,我們要確定一個不斷增長的資本僱用率。簡單地說,這些類型的企業是複合機器,這意味着它們不斷地以越來越高的回報率再投資其收益。說到這個,我們發現亞鉀國際(廣州)投資有很大的變化回報率,讓我們看看它。資產回報率:它是什麼?資本僱用回報率 (ROCE) 是一種早期趨勢,可以用來識別有可能在長期內翻倍增值的股票,然後在此基礎上,要尋找一個不斷增長的業務板塊和行業板塊。這告訴我們這是一臺複利機器,能夠不斷地將其收益再投入業務,從而產生更高的回報。因此,在這點上,Materialise (納斯達克:MTLS) 看起來相當有前途,因爲它在資本回報方面的趨勢相當不錯。資產回報率 = 利息和所得稅前收益(EBIT)÷(總資產-流動負債)總資本回報率可以說明一個企業在增加的回報率下重新投資利潤。依據這個標準,Stella International Holdings (HKG:1836) 的資本回報率看上去十分有潛力。
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. To calculate this metric for Stella International Holdings, this is the formula:
ROCE是一項衡量公司年度稅前利潤(其回報)、相對於業務所使用的資本的指標。爲計算Stella International Holdings的ROCE,公式如下:
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。
0.14 = US$154m ÷ (US$1.4b - US$265m) (Based on the trailing twelve months to December 2023).
0.14 = US$15400萬 ÷ (US$14億 - US$265m)(基於截至2023年12月的過去十二個月).
Thus, Stella International Holdings has an ROCE of 14%. In absolute terms, that's a satisfactory return, but compared to the Luxury industry average of 11% it's much better.
從絕對數值上看,Stella International Holdings的資本回報率是一個可圈可點的數值,但相較於奢侈品牌行業平均水平11%來看,它表現得更加出色。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240701/0-be741181b43b4939aa18f8b6c4a9bc06-0-d26d13a46345fa16a1a948281b579dc5.png/big)
In the above chart we have measured Stella International Holdings' prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Stella International Holdings .
在上面的圖表中,我們比較了Stella International Holdings之前的資本回報率與之前的表現,但未來的情況或許更爲重要。如果您想要了解分析師對Stella International Holdings的預測,可以查看我們免費的分析師報告。
What Can We Tell From Stella International Holdings' ROCE Trend?
從Stella International Holdings的資本回報率趨勢我們可以發現什麼?
Stella International Holdings' ROCE growth is quite impressive. The figures show that over the last five years, ROCE has grown 171% whilst employing roughly the same amount of capital. Basically the business is generating higher returns from the same amount of capital and that is proof that there are improvements in the company's efficiencies. The company is doing well in that sense, and it's worth investigating what the management team has planned for long term growth prospects.
Stella International Holdings的資本回報率增長相當驚人。數據顯示,在過去五年中,儘管使用的資本基本相同,ROCE增長了171%。這基本上說明企業在同等資本下產生了更高的回報率,這表明企業效率得到了提高。在這個方面,企業表現得相當不錯,值得探究管理團隊對長期增長前景的規劃。
What We Can Learn From Stella International Holdings' ROCE
我們可以從Stella International Holdings的資本回報率中得到什麼啓示?
As discussed above, Stella International Holdings appears to be getting more proficient at generating returns since capital employed has remained flat but earnings (before interest and tax) are up. Since the stock has returned a solid 83% to shareholders over the last five years, it's fair to say investors are beginning to recognize these changes. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
正如上面所討論的,考慮到所使用的資本已經穩定不變但收益(利息和稅前利潤)有所增加,Stella International Holdings似乎正在變得更加擅長產生回報。由於過去五年該股票爲股東帶來了較爲穩健的83%回報,可以說投資者已經開始認識到這些變化。儘管如此,我們仍然認爲有前景的基本面意味着公司值得進一步調查。
Stella International Holdings does have some risks though, and we've spotted 2 warning signs for Stella International Holdings that you might be interested in.
雖然Stella International Holdings有一些風險,但我們注意到了2個警告信號,可能會引起您的興趣。
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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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
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。