ShenZhen Woer Heat-Shrinkable MaterialLtd (SZSE:002130) Is Doing The Right Things To Multiply Its Share Price
ShenZhen Woer Heat-Shrinkable MaterialLtd (SZSE:002130) Is Doing The Right Things To Multiply Its Share Price
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. So when we looked at ShenZhen Woer Heat-Shrinkable MaterialLtd (SZSE:002130) and its trend of ROCE, we really liked what we saw.
如果我们想找到一个长期内能够倍增的股票，我们应该寻找什么基本趋势？通常，我们会想要注意到ROCE（资本雇用回报率）不断增长的趋势，以及资本雇用基础的不断扩大。这最终证明了这是一个业务以递增的回报率再投资利润的企业。因此，当我们看到深圳市沃尔热缩材料股份有限公司（SZSE：002130）的ROCE趋势时，我们真的很喜欢我们所看到的。
Return On Capital Employed (ROCE): What Is It?
资本雇用回报率（ROCE）是什么？
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 ShenZhen Woer Heat-Shrinkable MaterialLtd is:
ROCE是衡量公司年税前利润（即回报率）相对于企业资本雇用的一个指标。深圳市沃尔热缩材料股份有限公司的这个计算公式是：
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。
0.15 = CN¥989m ÷ (CN¥9.2b - CN¥2.6b) (Based on the trailing twelve months to March 2024).
0.15 = 98900万元 ÷ （920000万元 - 260000万元）（基于截至2024年3月的过去12个月）。
So, ShenZhen Woer Heat-Shrinkable MaterialLtd has an ROCE of 15%. In absolute terms, that's a satisfactory return, but compared to the Electrical industry average of 6.0% it's much better.
深圳市沃尔热缩材料股份有限公司的ROCE为15％。绝对来看，这是一个令人满意的回报，但与电器行业的平均水平6.0％相比，情况要好得多。
In the above chart we have measured ShenZhen Woer Heat-Shrinkable MaterialLtd's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free analyst report for ShenZhen Woer Heat-Shrinkable MaterialLtd .
在上图中，我们已测量深圳市沃尔热缩材料股份有限公司前一年的ROCE与其前一年的表现相比，但未来可能更重要。如果您感兴趣，您可以查看我们为深圳市沃尔热缩材料股份有限公司提供的免费分析师报告中的分析师预测。
What Can We Tell From ShenZhen Woer Heat-Shrinkable MaterialLtd's ROCE Trend?
我们可以从深圳市沃尔热缩材料股份有限公司的ROCE趋势中得到什么启示？
Investors would be pleased with what's happening at ShenZhen Woer Heat-Shrinkable MaterialLtd. The data shows that returns on capital have increased substantially over the last five years to 15%. 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 84%. So we're very much inspired by what we're seeing at ShenZhen Woer Heat-Shrinkable MaterialLtd thanks to its ability to profitably reinvest capital.
投资者会对深圳市沃尔热缩材料股份有限公司正在发生的事情感到满意。数据显示，在过去五年中，资本回报率大幅提高至15％。该公司实际上在使用每一元资本的效率上实现了更高的收益率，并值得注意的是资本金额也增加了84％。因此，我们非常欣赏深圳市沃尔热缩材料股份有限公司在盈利再投资方面的能力所带来的成果。
One more thing to note, ShenZhen Woer Heat-Shrinkable MaterialLtd has decreased current liabilities to 29% of total assets over this period, which effectively reduces the amount of funding from suppliers or short-term creditors. This tells us that ShenZhen Woer Heat-Shrinkable MaterialLtd has grown its returns without a reliance on increasing their current liabilities, which we're very happy with.
还有一件事要注意，那就是深圳市沃尔热缩材料股份有限公司在此期间将流动负债减少到总资产的29％，这在实际上减少了来自供应商或短期债权人的资金。这告诉我们，深圳市沃尔热缩材料股份有限公司在不依赖增加流动负债的情况下增加了其回报率，这使我们非常满意。
The Bottom Line
还有一件事需要注意的是，我们已经确定了上海医药的2个警告信号，了解这些信号应该成为你的投资过程的一部分。
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what ShenZhen Woer Heat-Shrinkable MaterialLtd has. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. Therefore, we think it would be worth your time to check if these trends are going to continue.
一个能够不断提高其资本回报率并能够持续再投资的公司是一种极其珍贵的质量，深圳市沃尔热缩材料股份有限公司拥有这种品质。并且，股票在过去五年表现出色，这些趋势正被投资者所认可。因此，我们认为，检查这些趋势是否会继续是值得您花费时间的。
If you want to know some of the risks facing ShenZhen Woer Heat-Shrinkable MaterialLtd we've found 2 warning signs (1 is concerning!) that you should be aware of before investing here.
如果您想了解深圳市沃尔热缩材料股份有限公司面临的风险，我们已发现了两个警告信号（其中1个令人担忧！），您在此之前应该注意这些信号。
While ShenZhen Woer Heat-Shrinkable MaterialLtd isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
虽然深圳市沃尔热缩材料股份有限公司的回报率不是最高的，但是请查看此免费的公司列表，这些公司具有扎实的资产负债表并获得了高回报。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
对本文有任何反馈？对内容有任何疑虑？请直接与我们联系。或者，发送电子邮件至editorial-team@simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论，只使用公正的方法论，我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议，也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意，我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有任何反馈？对内容有任何疑虑？请直接与我们联系。或者，发送电子邮件至editorial-team@simplywallst.com。