Tianli International Holdings (HKG:1773) Might Have The Makings Of A Multi-Bagger
Tianli International Holdings (HKG:1773) Might Have The Makings Of A Multi-Bagger
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount 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 Tianli International Holdings (HKG:1773) and its trend of ROCE, we really liked what we saw.
我們在尋找可能在長期內價值翻倍的股票時,應該遵循以下所有規則:首先,我們需要看到資本回報率(ROCE)不斷增長;其次,公司投資的資本量在擴大。最終,證明這是一個以逐漸增加的收益率重新投資利潤的業務。所以我們仔細觀察了天利國際控股(HKG:1773)的ROCE趨勢,我們非常喜歡我們所看到的。
Return On Capital Employed (ROCE): What Is It?
資本僱用回報率(ROCE)是什麼?
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. The formula for this calculation on Tianli International Holdings is:
僅僅爲了澄清,如果你不確定,ROCE是一種用於評估公司在其業務中投資的資本所獲得的稅前收益率的指標(以百分比計算)。對於天利國際控股,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。
0.13 = CN¥661m ÷ (CN¥8.9b - CN¥3.8b) (Based on the trailing twelve months to February 2024).
0.13 = CN¥66100萬 ÷ (CN¥89億 - CN¥3.8b)(基於截至2024年2月的最近十二個月)。
So, Tianli International Holdings has an ROCE of 13%. That's a relatively normal return on capital, and it's around the 12% generated by the Consumer Services industry.
因此,天利國際控股的ROCE爲13%。這是一個相對正常的資本回報率,與消費者服務行業產生的12%左右相當。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240810/0-6838c5a6d1bf632df8047b48a366222f-0-13d9c973e663983b97800fb61c671ee4.png/big)
In the above chart we have measured Tianli International Holdings' 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 Tianli International Holdings .
在上面的圖表中,我們已經測量了天利國際控股之前的ROCE與其之前的表現相比,但未來更加重要。如果您感興趣,您可以在我們爲天利國際控股提供的免費分析師報告中查看分析師的預測。
What Can We Tell From Tianli International Holdings' ROCE Trend?
我們可以從天利國際控股的ROCE趨勢中得出什麼結論?
Investors would be pleased with what's happening at Tianli International Holdings. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 13%. The amount of capital employed has increased too, by 67%. 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.
投資者會對天利國際控股目前的情況感到滿意。數據顯示,在過去五年中,資本回報率增長了很多,達到了13%。投入的資本量也增加了67%。這可能表明在內部投資資本並以更高的利率投資的機會很多,這是多重暴利股票的共同特徵。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Essentially the business now has suppliers or short-term creditors funding about 43% of its operations, which isn't ideal. And with current liabilities at those levels, that's pretty high.
順便提一句,我們注意到ROCE的改善似乎部分得益於流動負債的增加。實質上,該業務現在有大約43%的資金是由供應商或短期債權人資助的,這並不理想。隨着當前負債水平的提高,幾乎到了非常高的水平。
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。
In summary, it's great to see that Tianli International Holdings can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. And with a respectable 51% awarded to those who held the stock over the last five years, you could argue that these developments are starting to get the attention they deserve. Therefore, we think it would be worth your time to check if these trends are going to continue.
總之,看到天利國際控股通過不斷地以越來越高的收益率重新投資資本而複合回報,這是非常好的,因爲這些是高度追求的多重暴利股票的關鍵因素之一。而且,在過去的五年裏,持有股票的人獲得了51%的可觀回報,這表明這些發展正在引起越來越多的關注。因此,我們認爲這將值得您花時間去查看這些趨勢是否將繼續。
If you'd like to know about the risks facing Tianli International Holdings, we've discovered 1 warning sign that you should be aware of.
如果您想了解天利國際控股面臨的風險,我們發現了一個警告標誌,您應該了解一下。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
Hao Tian International Construction Investment Group確實存在一些風險,我們已經發現了一條警示標誌,你可能會感興趣。對於那些喜歡投資於實力雄厚的公司的人,可以查看這個由財務狀況強大、股本回報率高的公司組成的免費列表。
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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。