Jiangsu Leadmicro Nano-Equipment Technology (SHSE:688147) Is Doing The Right Things To Multiply Its Share Price
Jiangsu Leadmicro Nano-Equipment Technology (SHSE:688147) Is Doing The Right Things To Multiply Its Share Price
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. So when we looked at Jiangsu Leadmicro Nano-Equipment Technology (SHSE:688147) and its trend of ROCE, we really liked what we saw.
如果我们想要找到能够长期倍增价值的股票,应该关注什么趋势呢?通常而言,我们将会注意到ROCE不断增长的趋势,同时,资本雇用的基础不断扩大。简言之,这些类型的企业是复合机器,这意味着它们不断地以越来越高的回报率重新投资其盈利。因此,当我们看到江苏倍微纳光设备科技(SHSE:688147)及其ROCE的发展趋势时,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。
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. Analysts use this formula to calculate it for Jiangsu Leadmicro Nano-Equipment Technology:
对于那些不知道的人,ROCE是一个公司一年的税前利润(其收益)与企业所雇用的资本相对比的度量标准。分析师使用这个公式来计算江苏倍微纳光设备科技的ROCE:
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。
0.08 = CN¥211m ÷ (CN¥8.5b - CN¥5.9b) (Based on the trailing twelve months to March 2024).
0.08 = CN¥21100万 ÷ (CN¥85亿 - CN¥5.9b)(截至2024年3月近12个月的数据)。
So, Jiangsu Leadmicro Nano-Equipment Technology has an ROCE of 8.0%. In absolute terms, that's a low return, but it's much better than the Semiconductor industry average of 3.9%.
因此,江苏倍微纳光设备科技的ROCE为8%。绝对意义上,这是一种较低的回报,但它比半导体行业平均水平的3.9%好得多。
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Above you can see how the current ROCE for Jiangsu Leadmicro Nano-Equipment Technology 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 Jiangsu Leadmicro Nano-Equipment Technology .
上面你可以看到江苏倍微纳光设备科技的当前ROCE与其过去的资本回报率相比如何,但是从过去我们能了解的内容有限。如果您感兴趣,您可以查看我们免费的江苏倍微纳光设备科技分析师报告中的分析师预测。
What Can We Tell From Jiangsu Leadmicro Nano-Equipment Technology's ROCE Trend?
我们可以从江苏倍微纳光设备科技的ROCE趋势中得到什么信息呢?
The fact that Jiangsu Leadmicro Nano-Equipment Technology is now generating some pre-tax profits from its prior investments is very encouraging. Shareholders would no doubt be pleased with this because the business was loss-making five years ago but is is now generating 8.0% on its capital. In addition to that, Jiangsu Leadmicro Nano-Equipment Technology is employing 3,514% more capital than previously which is expected of a company that's trying to break into profitability. We like this trend, because it tells us the company has profitable reinvestment opportunities available to it, and if it continues going forward that can lead to a multi-bagger performance.
江苏倍微纳光设备科技现在从早期的投资中获得了一些税前利润是非常令人鼓舞的。股东们毫无疑问会对此感到高兴,因为五年前该业务曾经亏损,但现在其资本回报率为8.0%。除此之外,江苏倍微纳光设备科技雇用比之前多3514%的资本,这是一家试图实现盈利的公司所期望的。我们喜欢这一趋势,因为它告诉我们公司有赚钱的重新投资机会,如果它继续前进,这可能会导致多倍的表现。
One more thing to note, Jiangsu Leadmicro Nano-Equipment Technology has decreased current liabilities to 69% of total assets over this period, which effectively reduces the amount of funding from suppliers or short-term creditors. So shareholders would be pleased that the growth in returns has mostly come from underlying business performance. However, current liabilities are still at a pretty high level, so just be aware that this can bring with it some risks.
还有一件事要注意,江苏倍微纳光设备科技已经将流动负债降至总资产的69%,从而有效减少了来自供应商或短期债权人的资金。因此,股东们会很高兴看到回报的增长主要来自基本业绩。然而,目前的负债水平仍然相当高,所以请注意这可能带来一些风险。
What We Can Learn From Jiangsu Leadmicro Nano-Equipment Technology's ROCE
长话短说,我们很高兴看到江苏倍微纳光设备科技的重新投资活动已经取得了回报,该公司现在实现了盈利。考虑到该股在过去一年中下跌了55%,如果估值和其他指标也吸引人,这可能是一个不错的投资。既然如此,研究公司当前的估值和未来前景似乎是适当的。
Long story short, we're delighted to see that Jiangsu Leadmicro Nano-Equipment Technology's reinvestment activities have paid off and the company is now profitable. Given the stock has declined 55% in the last year, this could be a good investment if the valuation and other metrics are also appealing. That being the case, research into the company's current valuation metrics and future prospects seems fitting.
像大多数公司一样,江苏倍微纳光设备科技也存在一些风险,我们已经发现了1个警告信号,你需要注意。虽然江苏倍微纳光设备科技目前的回报率可能不是最高的,但我们已经编制了一份比目前股权回报率高于25%的公司名单。在这里查看此免费列表。
Like most companies, Jiangsu Leadmicro Nano-Equipment Technology does come with some risks, and we've found 1 warning sign that you should be aware of.
While Jiangsu Leadmicro Nano-Equipment Technology may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
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Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有反馈?对内容感到担忧?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。