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Shenzhen Breo Technology (SHSE:688793) Might Be Having Difficulty Using Its Capital Effectively

Shenzhen Breo Technology (SHSE:688793) Might Be Having Difficulty Using Its Capital Effectively

深圳市倍轻松科技(SHSE:688793)可能在有效利用资本方面遇到了困难
Simply Wall St ·  10/04 21:15

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount 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 Shenzhen Breo Technology (SHSE:688793), it didn't seem to tick all of these boxes.

如果您在寻找下一个潜力大的股票时不确定从哪里开始,有一些关键趋势是您应该密切关注的。理想情况下,一个企业会呈现两个趋势;首先是不断增长的资本雇用回报率(ROCE),其次是不断增加的资本雇用量。基本上,这意味着公司有盈利的业务计划可以持续投资,并且具有复利机器的特征。尽管当我们看了深圳百乐科技(SHSE:688793)时,似乎并没有完全符合所有这些条件。

Understanding Return On Capital Employed (ROCE)

上面您可以看到蒙托克可再生能源现行ROCE与之前资本回报的比较,但过去只能知道这么多。如果您感兴趣,可以查看我们免费的蒙托克可再生能源分析师报告,了解分析师的预测。

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 Breo Technology is:

对于不了解的人,ROCE是衡量一个公司每年税前利润(其回报)与企业资本雇用量相关性的指标。在深圳百乐科技上进行这种计算的公式为:

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。

0.015 = CN¥6.2m ÷ (CN¥792m - CN¥378m) (Based on the trailing twelve months to June 2024).

0.015 = 6200万元 ÷ (79200万元 - 3.78亿)(基于截至2024年6月的过去十二个月)。

Therefore, Shenzhen Breo Technology has an ROCE of 1.5%. Ultimately, that's a low return and it under-performs the Personal Products industry average of 8.2%.

因此,深圳百乐科技的ROCE为1.5%。最终,这是一个低回报率,低于个人用品行业平均水平8.2%。

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SHSE:688793 Return on Capital Employed October 5th 2024
SHSE:688793 2024年10月5日的资本雇用回报率

In the above chart we have measured Shenzhen Breo Technology'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 Breo Technology .

在上面的图表中,我们已经测量了深圳市宝贝科技的先前ROCE与其先前业绩,但未来可以说更为重要。如果您感兴趣,您可以在我们的深圳市宝贝科技免费分析师报告中查看分析师的预测。

So How Is Shenzhen Breo Technology's ROCE Trending?

那么深圳市宝贝科技的ROCE趋势如何?

When we looked at the ROCE trend at Shenzhen Breo Technology, we didn't gain much confidence. Around five years ago the returns on capital were 43%, but since then they've fallen to 1.5%. Although, given both revenue and the amount of assets employed in the business have increased, it could suggest the company is investing in growth, and the extra capital has led to a short-term reduction in ROCE. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.

当我们观察深圳市宝贝科技的ROCE趋势时,我们并没有获得太多的信心。大约五年前,资本回报率为43%,但自那时以来已经下降到1.5%。尽管营业收入和业务中使用的资产数量均有所增加,这可能表明公司正在进行投资以实现增长,而额外的资本导致了短期ROCE的降低。如果增加的资本带来额外的回报,业务以及股东将从中受益长远。

On a separate but related note, it's important to know that Shenzhen Breo Technology has a current liabilities to total assets ratio of 48%, which we'd consider pretty high. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.

另外需要注意的是,深圳市宝贝科技的流动负债与总资产比率为48%,我们认为这相当高。这实际上意味着供应商(或短期债权人)资助了业务的很大一部分,因此请注意,这可能会引入一些风险因素。虽然这不一定是坏事,但如果这个比率更低将更有益。

What We Can Learn From Shenzhen Breo Technology's ROCE

从深圳市宝贝科技的ROCE我们可以学到什么

While returns have fallen for Shenzhen Breo Technology in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. And there could be an opportunity here if other metrics look good too, because the stock has declined 42% in the last three years. So we think it'd be worthwhile to look further into this stock given the trends look encouraging.

尽管深圳市宝贝科技的回报最近有所下降,但我们很高兴看到销售额在增长,业务正在进行再投资。另外如果其他指标也看起来不错,这里可能存在机会,因为这支股票在过去三年中下跌了42%。因此,我们认为如果趋势看起来令人鼓舞,进一步研究这支股票将是值得的。

If you want to continue researching Shenzhen Breo Technology, you might be interested to know about the 2 warning signs that our analysis has discovered.

如果您想继续研究深圳倍轻科技,您可能会对我们分析发现的2个警告信号感兴趣。

While Shenzhen Breo Technology isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.

虽然深圳倍轻科技的回报率不是最高的,但是请查看这份免费的公司清单,这些公司在净资产回报率上表现出色,并且资产负债表稳健。

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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.

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