CGN Mining (HKG:1164) Will Want To Turn Around Its Return Trends
CGN Mining (HKG:1164) Will Want To Turn Around Its Return Trends
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Although, when we looked at CGN Mining (HKG:1164), it didn't seem to tick all of these boxes.
如果你正在寻找一个multi-bagger(多倍增长),则需要注意一些事情。首先,我们希望看到资本投入回报率(ROCE)得到证明,并且其增长的同时资本投入也在扩大。基本上,这意味着一个公司有盈利的举措,可以持续地进行再投资,这是复利机器的特征。尽管当我们看CGN Mining(HKG:1164)时,它似乎没有符合这些要求。
What Is Return On Capital Employed (ROCE)?
我们对 Enphase Energy 的资本雇用回报率的看法:正如我们上面看到的,Enphase Energy 的资本回报率没有提高,但它正在重新投资于业务。投资者必须认为未来会有更好的前景,因为股票表现良好,使持股五年以上的股东获得了 690% 的收益。最终,如果基本趋势持续存在,我们不会对它成为一只多头股持有期很久很有信心。
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 CGN Mining, this is the formula:
如果您以前没有使用过ROCE指标,它衡量的是公司从投入到业务中的资本中产生的“回报”(税前利润)。为了计算CGN Mining的该指标,其公式为:
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。
0.012 = HK$66m ÷ (HK$6.8b - HK$1.4b) (Based on the trailing twelve months to December 2023).
0.012 = HK$6600万 ÷ (HK$68亿 - HK$1.4b) (基于最近12个月到2023年12月的数据)。
So, CGN Mining has an ROCE of 1.2%. In absolute terms, that's a low return and it also under-performs the Oil and Gas industry average of 7.1%.
因此,CGN Mining的ROCE为1.2%。在绝对值方面,这是一个较低的回报,并且也低于石油和天然气行业平均水平(7.1%)。
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Above you can see how the current ROCE for CGN Mining compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for CGN Mining .
您可以看到CGN Mining当前的ROCE与其过去的资本回报率相比,但从过去只能得出有限的信息。如果您有兴趣,您可以在我们的免费分析师报告中查看分析师的预测。
What Does the ROCE Trend For CGN Mining Tell Us?
CGN Mining的ROCE趋势告诉我们什么?
In terms of CGN Mining's historical ROCE movements, the trend isn't fantastic. Around five years ago the returns on capital were 3.9%, but since then they've fallen to 1.2%. However, given capital employed and revenue have both increased it appears that the business is currently pursuing growth, at the consequence of short term returns. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
就CGN Mining历史上的ROCE变化而言,这个趋势并不是太好。五年前的资本回报率为3.9%,但自那以后它们下降到1.2%。然而,鉴于资本投入和收入都在增加,似乎该公司目前正在追求成长,在短期内牺牲了一些回报。如果增加的资本产生了额外的回报,那么企业及其股东将受益于长期。
What We Can Learn From CGN Mining's ROCE
我们从CGN Mining的ROCE中学到了什么?
While returns have fallen for CGN Mining in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. And long term investors must be optimistic going forward because the stock has returned a huge 515% to shareholders in the last five years. So while investors seem to be recognizing these promising trends, we would look further into this stock to make sure the other metrics justify the positive view.
尽管近期CGN Mining的回报率下降,但我们对其销售增长和业务再投资持乐观态度。长期的投资者必须对未来充满乐观情绪,因为过去五年这只股票已经为股东带来了高达515%的收益。因此,虽然投资者似乎认识到了这些有前途的趋势,但我们仍需要进一步了解该股票,以确保其他指标证明了其正面观点。
Like most companies, CGN Mining does come with some risks, and we've found 1 warning sign that you should be aware of.
像大多数公司一样,CGN Mining也存在一些风险,我们发现了1个警告信号,您应该注意。
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确实存在一些风险,我们已经发现了一条警示标志,你可能会感兴趣。对于那些喜欢投资于实力雄厚的公司的人,可以查看这个由财务状况强大、股本回报率高的公司组成的免费列表。
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