Investors Shouldn't Overlook The Favourable Returns On Capital At Anhui Gujing Distillery (SZSE:000596)
Investors Shouldn't Overlook The Favourable Returns On Capital At Anhui Gujing Distillery (SZSE:000596)
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. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. Ergo, when we looked at the ROCE trends at Anhui Gujing Distillery (SZSE:000596), we liked what we saw.
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)這表明古井貢是一個開空的複合機器,能夠持續地將其收益重新投入業務併產生更高的回報。因此,當我們觀察SZSE:000596的古井貢ROCE趨勢時,我們喜歡我們所看到的。
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 Anhui Gujing Distillery is:
對於那些不了解的人,ROCE是一個公司年利潤(其回報),相對於業務中使用的資本就是衡量。在古井貢的計算公式上是:
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。
0.27 = CN¥6.8b ÷ (CN¥41b - CN¥15b) (Based on the trailing twelve months to March 2024).
0.27 = CN¥6.8b ÷ (CN¥41b - CN¥15b)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。.
Therefore, Anhui Gujing Distillery has an ROCE of 27%. That's a fantastic return and not only that, it outpaces the average of 17% earned by companies in a similar industry.
因此,古井貢的ROCE爲27%。這是一個令人驚訝的回報,不僅如此,它還超過了同行業公司的平均水平17%。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240703/0-be1d9286ad1b20a0043bdaca73923edb-0-120e76e226a0075069bbb93d4ee937f8.png/big)
Above you can see how the current ROCE for Anhui Gujing Distillery compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for Anhui Gujing Distillery .
上面你可以看到古井貢目前的ROCE與其先前的資本回報相比如何,但是從過去中可以得出的信息是有限的。如果你有興趣,可以在我們的古井貢自由分析師報告中查看分析師的預測。
What Can We Tell From Anhui Gujing Distillery's ROCE Trend?
我們從古井貢的ROCE趨勢中可以得出什麼結論?
In terms of Anhui Gujing Distillery's history of ROCE, it's quite impressive. The company has employed 179% more capital in the last five years, and the returns on that capital have remained stable at 27%. With returns that high, it's great that the business can continually reinvest its money at such appealing rates of return. If these trends can continue, it wouldn't surprise us if the company became a multi-bagger.
就古井貢的資本回報率歷史而言,它相當令人印象深刻。在過去五年中,該公司的資本投入增加了179%,而該資本的回報率保持在27%的穩定水平。憑藉如此高的回報,企業能夠以如此吸引人的回報率不斷地重新投資。如果這些趨勢能夠持續下去,公司成爲多倍增長者也就不足爲奇了。
The Bottom Line On Anhui Gujing Distillery's ROCE
對於古井貢的ROCE,我們的結論是,它已經能夠以非常有利潤的回報率複合其資本,具備成爲多倍增長者的基礎。因此,如果過去五年內持股人獲得了可觀的84%的回報,則並不令人意外。因此,儘管這些積極的基本趨勢可能已被投資者所考慮,但我們仍認爲值得進一步研究這個股票。
In short, we'd argue Anhui Gujing Distillery has the makings of a multi-bagger since its been able to compound its capital at very profitable rates of return. Therefore it's no surprise that shareholders have earned a respectable 84% return if they held over the last five years. So while the positive underlying trends may be accounted for by investors, we still think this stock is worth looking into further.
簡而言之,我們認爲古井貢有成爲多倍增長者的條件,因爲它已經能夠以非常有利潤的回報率複合其資本。因此,如果過去五年持有股票,則股東已經獲得了尊重的84%的回報。因此,雖然這些積極的基本趨勢可能已被投資者所考慮,但我們仍認爲該股值得進一步研究。
On a final note, we found 2 warning signs for Anhui Gujing Distillery (1 is a bit concerning) you should be aware of.
最後需要注意的是,我們發現古井貢有2個警告信號(其中1個有點令人擔憂),需要您知道。
If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.
如果您想看到其他公司獲得高回報,請在此查看我們免費的高回報、堅實財務狀況的公司列表。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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 (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
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。