Hisense Home Appliances Group (SZSE:000921) Could Become A Multi-Bagger
Hisense Home Appliances Group (SZSE:000921) Could Become A Multi-Bagger
0.21 = CN¥4.7b ÷ (CN¥70b - CN¥47b) If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. 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. With that in mind, the ROCE of Hisense Home Appliances Group (SZSE:000921) looks great, so lets see what the trend can tell us.
如果要找到一個潛在的多倍股，通常會有潛在的趨勢可以提供線索。通常，我們需要注意不斷增長的資本僱用回報率(ROCE)的趨勢，以及隨着時間推移不斷擴大的資本僱用基礎。簡而言之，這些類型的企業是複利機器，意味着他們不斷地以更高的回報率投資他們的收益。考慮到這一點，Hisense Home Appliances Group(SZSE:000921)的ROCE看起來很棒，那麼讓我們看看趨勢能告訴我們什麼吧。
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。
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 Hisense Home Appliances Group, this is the formula:
如果您以前沒有使用過ROCE，它衡量企業從在其業務中僱用的資本中產生的‘回報’(稅前利潤)。要爲Hisense Home Appliances Group計算此指標，使用以下公式：
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。
0.21 = CN¥4.7b ÷ (CN¥70b - CN¥47b) (Based on the trailing twelve months to March 2024).
0.21 = CN¥47億 ÷ (CN¥700億 - CN¥47b) (基於過去十二個月至2024年3月)。
Therefore, Hisense Home Appliances Group has an ROCE of 21%. In absolute terms that's a great return and it's even better than the Consumer Durables industry average of 8.4%.
因此，海信家電集團的ROCE爲21%。在絕對價值上，這是一個很好的回報，甚至比消費性耐用品行業的平均水平8.4%更好。
In the above chart we have measured Hisense Home Appliances Group's 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 Hisense Home Appliances Group .
在上面的圖表中，我們已衡量Hisense Home Appliances Group先前的ROCE與其先前的表現，但未來則可能更重要。如果您想查看分析師未來的預測，您應該查看我們爲Hisense Home Appliances Group提供的免費分析師報告。
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。
Hisense Home Appliances Group is displaying some positive trends. Over the last five years, returns on capital employed have risen substantially to 21%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 162%. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers.
海信家電集團正在顯示一些積極的趨勢。在過去的五年中，資本僱用回報率已經大幅上升到21%。這家公司在使用的每一美元資本上實際上賺取更多的錢，而且值得注意的是，使用的資本也增加了162%。這可以表示在公司內部投資資本和以更高的速度不斷增加的機會有很多，這是多倍股之間普遍的組合。
On a separate but related note, it's important to know that Hisense Home Appliances Group has a current liabilities to total assets ratio of 67%, which we'd consider pretty high. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
此外，需要注意的是，海信家電集團的流動負債與總資產比率爲67%，這被認爲相當高。這實際上意味着供應商(或短期債權人)正在資助業務中的大部分資金，因此請注意，這可能會引入一些風險因素。理想情況下，我們希望看到這一比率降低，因爲這意味着承擔風險的義務越少。
The Key Takeaway
重要提示
All in all, it's terrific to see that Hisense Home Appliances Group is reaping the rewards from prior investments and is growing its capital base. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.
總而言之，看到海信家電集團正在從之前的投資中獲得回報並正在增加其資本基礎，這是非常不錯的。而且，隨着這隻股票在過去的五年中表現異常出色，這些模式正在被投資者考慮到賬中。因此，考慮到這個股票已經證明具有有前途的趨勢，進一步研究該公司以查看這些趨勢是否可能持續下去是值得的。
Like most companies, Hisense Home Appliances Group does come with some risks, and we've found 1 warning sign that you should be aware of.
像大多數公司一樣，海信家電集團也存在一些風險，我們發現一個警示信號需要您注意。
Hisense Home Appliances Group is not the only stock earning high returns. If you'd like to see more, check out our free list of companies earning high returns on equity with solid fundamentals.
海信家電集團並不是唯一回報豐厚的股票。如果您想查看更多，請查看我們免費的具備實質基礎的高回報股票清單。
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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.
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@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
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。