Sino Wealth Electronic (SZSE:300327) Might Be Having Difficulty Using Its Capital Effectively
Sino Wealth Electronic (SZSE:300327) Might Be Having Difficulty Using Its Capital Effectively
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Having said that, from a first glance at Sino Wealth Electronic (SZSE:300327) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
你知道有一些財務指標可以提供潛在的多倍體育賭博的線索嗎?在一個完美的世界中,我們希望看到一家公司將更多的資本投入到其業務中,並且理想情況下,從該資本投資中獲得的回報也在增加。基本上,這意味着公司擁有盈利的舉措,可以繼續投資,並收穫複利,這是一個複利機器的特性。話雖如此,從第一眼看中穎電子(SZSE:300327)的收益趨勢,我們不認爲公司做得非常好,但讓我們更深入地了解一下。
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. The formula for this calculation on Sino Wealth Electronic is:
如果你之前沒有使用ROCE(投入資本回報率)的話,請注意一下了。它衡量一家公司從其投入的資本中所產生的“回報”(稅前利潤)。這個計算公式在中穎電子上爲:
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。
0.0061 = CN¥11m ÷ (CN¥2.1b - CN¥332m) (Based on the trailing twelve months to March 2024).
0.0061 = CN¥1100萬 ÷ (CN¥21億 - CN¥332m)(基於到2024年3月的過去十二個月)。
So, Sino Wealth Electronic has an ROCE of 0.6%. In absolute terms, that's a low return and it also under-performs the Semiconductor industry average of 3.9%.
因此,中穎電子的ROCE爲0.6%。從絕對意義上來說,這是一個較低的回報率,並且低於半導體行業的平均水平3.9%。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240730/0-8e2e094af56ed77afae924c0479214fd-0-336917ff89dea54dd628568e39c967b3.png/big)
In the above chart we have measured Sino Wealth Electronic's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Sino Wealth Electronic for free.
在上面的圖表中,我們測量了中穎電子先前的ROCE與其先前的表現,但未來無疑更爲重要。如果您願意,可以免費查看分析師對中穎電子的預測。
How Are Returns Trending?
綜合上述,Cimpress非常有效地提高了其資本利用率所產生的回報。考慮到股票過去五年保持穩定,如果其他指標也不錯,則可能存在機會。因此,進一步研究這家公司並確定這些趨勢是否會持續是合理的。
On the surface, the trend of ROCE at Sino Wealth Electronic doesn't inspire confidence. To be more specific, ROCE has fallen from 14% over the last five years. However it looks like Sino Wealth Electronic might be reinvesting for long term growth because while capital employed has increased, the company's sales haven't changed much in the last 12 months. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
表面上看,中穎電子的ROCE趨勢並沒有令人信服。更具體地說,過去五年中ROCE從14%下降至目前的水平。然而,看起來中穎電子可能正在爲長期增長而進行再投資,因爲雖然投入的資本已經增加,但公司的銷售額在過去的12個月中並沒有多大變化。值得關注的是,這些投資是否最終會對公司的利潤產生貢獻。
What We Can Learn From Sino Wealth Electronic's ROCE
從中穎電子的ROCE中我們能夠得出什麼教訓
Bringing it all together, while we're somewhat encouraged by Sino Wealth Electronic's reinvestment in its own business, we're aware that returns are shrinking. And with the stock having returned a mere 16% in the last five years to shareholders, you could argue that they're aware of these lackluster trends. So if you're looking for a multi-bagger, the underlying trends indicate you may have better chances elsewhere.
總的來說,雖然我們對中穎電子重新投資自己的業務感到有些鼓舞,但我們意識到回報在縮水。由於該股票在過去五年中僅爲股東帶來了僅爲16%的回報,因此可以說,他們意識到這些不及預期的趨勢。因此,如果您正在尋找倍增器,則基本趨勢表明您可能在其他地方更有機會。
One more thing, we've spotted 2 warning signs facing Sino Wealth Electronic that you might find interesting.
還有一件事,我們發現中穎電子面臨兩個值得關注的警告信號。
While Sino Wealth Electronic 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.
儘管中穎電子目前的收益率不是最高的,但我們已編制了一份目前收益率超過25%的公司清單。在這裏查看免費列表。
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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。