Shaanxi Sirui Advanced Materials (SHSE:688102) Has More To Do To Multiply In Value Going Forward
Shaanxi Sirui Advanced Materials (SHSE:688102) Has More To Do To Multiply In Value Going Forward
What are the early trends we should look for to identify a stock that could multiply in value over the long term? One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. In light of that, when we looked at Shaanxi Sirui Advanced Materials (SHSE:688102) and its ROCE trend, we weren't exactly thrilled.
要确定一只可以长期成倍增长的股票,我们应该寻找哪些早期趋势?一种常见的方法是尝试寻找一家动用资本回报率(ROCE)不断增加且所用资本不断增加的公司。归根结底,这表明这是一家以不断提高的回报率对利润进行再投资的企业。有鉴于此,当我们查看陕西斯瑞高新材料(SHSE: 688102)及其投资回报率趋势时,我们并不十分兴奋。
What Is Return On Capital Employed (ROCE)?
什么是资本使用回报率(ROCE)?
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for Shaanxi Sirui Advanced Materials, this is the formula:
对于那些不确定ROCE是什么的人,它衡量的是公司从其业务中使用的资本中可以产生的税前利润金额。要计算陕西斯瑞新材料的这一指标,公式如下:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已动用资本回报率 = 息税前收益 (EBIT) ¥(总资产-流动负债)
0.087 = CN¥126m ÷ (CN¥1.9b - CN¥463m) (Based on the trailing twelve months to June 2024).
0.087 = 12600万元人民币 ÷(19元人民币至4.63亿元人民币)(基于截至2024年6月的过去十二个月)。
Thus, Shaanxi Sirui Advanced Materials has an ROCE of 8.7%. On its own that's a low return, but compared to the average of 6.8% generated by the Metals and Mining industry, it's much better.
因此,陕西斯瑞新材料的投资回报率为8.7%。就其本身而言,回报率很低,但与金属和采矿业的平均6.8%相比,要好得多。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240821/0-f096649794c2eefae44ea2a47571cbe1-0-b632fbd6036db765a5ee7b5c83c23f98.png/big)
In the above chart we have measured Shaanxi Sirui Advanced Materials' 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 Shaanxi Sirui Advanced Materials .
在上图中,我们将陕西斯瑞新材先前的投资回报率与之前的表现进行了对比,但可以说,未来更为重要。如果您有兴趣,可以在我们的陕西斯瑞新材料免费分析师报告中查看分析师的预测。
What The Trend Of ROCE Can Tell Us
ROCE 的趋势能告诉我们什么
The returns on capital haven't changed much for Shaanxi Sirui Advanced Materials in recent years. The company has consistently earned 8.7% for the last five years, and the capital employed within the business has risen 253% in that time. Given the company has increased the amount of capital employed, it appears the investments that have been made simply don't provide a high return on capital.
近年来,陕西斯瑞新材料的资本回报率没有太大变化。在过去五年中,该公司的收入一直保持在8.7%,在此期间,公司内部使用的资本增长了253%。鉴于该公司增加了动用资本金额,看来已经进行的投资根本无法提供很高的资本回报率。
One more thing to note, even though ROCE has remained relatively flat over the last five years, the reduction in current liabilities to 24% of total assets, is good to see from a business owner's perspective. This can eliminate some of the risks inherent in the operations because the business has less outstanding obligations to their suppliers and or short-term creditors than they did previously.
还有一件事需要注意,尽管投资回报率在过去五年中一直保持相对平稳,但从企业主的角度来看,流动负债减少至总资产的24%还是不错的。这可以消除运营中固有的某些风险,因为企业对供应商和/或短期债权人的未清债务比以前少。
Our Take On Shaanxi Sirui Advanced Materials' ROCE
我们对陕西斯瑞新材料投资回报率的看法
In summary, Shaanxi Sirui Advanced Materials has simply been reinvesting capital and generating the same low rate of return as before. And in the last year, the stock has given away 15% so the market doesn't look too hopeful on these trends strengthening any time soon. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.
总而言之,陕西斯瑞新材料只是在进行资本再投资,并产生了与以前一样低的回报率。而在去年,该股已经下跌了15%,因此市场对这些趋势在短期内走强似乎并不抱太大希望。无论如何,该股票不具有上面讨论的多袋装股票的特征,因此,如果您正在寻找这种特征,我们认为您在其他地方会更幸运。
If you want to continue researching Shaanxi Sirui Advanced Materials, you might be interested to know about the 3 warning signs that our analysis has discovered.
如果你想继续研究陕西斯瑞高新材料,你可能有兴趣了解我们的分析发现的3个警告信号。
While Shaanxi Sirui Advanced Materials isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
尽管陕西斯瑞高新材料的回报率并不是最高的,但请查看这份免费的股本回报率高、资产负债表稳健的公司名单。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。