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.
如果我們想找到一個長期內能夠倍增的股票，我們應該尋找什麼基本趨勢？通常，我們會想要注意到ROCE（資本僱用回報率）不斷增長的趨勢，以及資本僱用基礎的不斷擴大。這最終證明了這是一個業務以遞增的回報率再投資利潤的企業。因此，當我們看到深圳市沃爾熱縮材料股份有限公司（SZSE：002130）的ROCE趨勢時，我們真的很喜歡我們所看到的。
Return On Capital Employed (ROCE): What Is It?
資本僱用回報率（ROCE）是什麼？
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是衡量公司年稅前利潤（即回報率）相對於企業資本僱用的一個指標。深圳市沃爾熱縮材料股份有限公司的這個計算公式是：
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。
0.15 = CN¥989m ÷ (CN¥9.2b - CN¥2.6b) (Based on the trailing twelve months to March 2024).
0.15 = 98900萬元 ÷ （920000萬元 - 260000萬元）（基於截至2024年3月的過去12個月）。
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.
深圳市沃爾熱縮材料股份有限公司的ROCE爲15％。絕對來看，這是一個令人滿意的回報，但與電器行業的平均水平6.0％相比，情況要好得多。
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 .
在上圖中，我們已測量深圳市沃爾熱縮材料股份有限公司前一年的ROCE與其前一年的表現相比，但未來可能更重要。如果您感興趣，您可以查看我們爲深圳市沃爾熱縮材料股份有限公司提供的免費分析師報告中的分析師預測。
What Can We Tell From ShenZhen Woer Heat-Shrinkable MaterialLtd's ROCE Trend?
我們可以從深圳市沃爾熱縮材料股份有限公司的ROCE趨勢中得到什麼啓示？
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.
投資者會對深圳市沃爾熱縮材料股份有限公司正在發生的事情感到滿意。數據顯示，在過去五年中，資本回報率大幅提高至15％。該公司實際上在使用每一元資本的效率上實現了更高的收益率，並值得注意的是資本金額也增加了84％。因此，我們非常欣賞深圳市沃爾熱縮材料股份有限公司在盈利再投資方面的能力所帶來的成果。
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.
還有一件事要注意，那就是深圳市沃爾熱縮材料股份有限公司在此期間將流動負債減少到總資產的29％，這在實際上減少了來自供應商或短期債權人的資金。這告訴我們，深圳市沃爾熱縮材料股份有限公司在不依賴增加流動負債的情況下增加了其回報率，這使我們非常滿意。
The Bottom Line
還有一件事需要注意的是，我們已經確定了上海醫藥的2個警告信號，了解這些信號應該成爲你的投資過程的一部分。
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.
一個能夠不斷提高其資本回報率並能夠持續再投資的公司是一種極其珍貴的質量，深圳市沃爾熱縮材料股份有限公司擁有這種品質。並且，股票在過去五年表現出色，這些趨勢正被投資者所認可。因此，我們認爲，檢查這些趨勢是否會繼續是值得您花費時間的。
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爾熱縮材料股份有限公司面臨的風險，我們已發現了兩個警告信號（其中1個令人擔憂！），您在此之前應該注意這些信號。
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.
雖然深圳市沃爾熱縮材料股份有限公司的回報率不是最高的，但是請查看此免費的公司列表，這些公司具有紮實的資產負債表並獲得了高回報。
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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。