Here's What's Concerning About Foran Energy Group's (SZSE:002911) Returns On Capital
Here's What's Concerning About Foran Energy Group's (SZSE:002911) Returns On Capital
To find a multi-bagger stock, what are the underlying trends we should look for in a business? 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. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. However, after investigating Foran Energy Group (SZSE:002911), we don't think it's current trends fit the mold of a multi-bagger.
要找到一個翻番股票,我們應該在一個企業中尋找哪些潛在趨勢? 其他方面,我們將想要看到兩件事:首先,資本僱用回報率(ROCE)正在增長,其次,公司所使用資本數量在擴大。 基本上,這意味着一個公司擁有可以繼續投資的有利可圖的倡議,這是一個複利機器的特徵。 但是,在調查了佛燃能源集團(SZSE:002911)後,我們認爲其目前的趨勢不符合翻番的特徵。
Return On Capital Employed (ROCE): What Is It?
資本僱用回報率(ROCE)是什麼?
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. To calculate this metric for Foran Energy Group, this is the formula:
對於那些不了解的人,ROCE是一個公司年度稅前利潤(其回報)與企業所使用資本的比率的衡量標準。 要爲佛燃能源集團計算這一指標,公式如下:
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。
0.10 = CN¥1.1b ÷ (CN¥19b - CN¥8.2b) (Based on the trailing twelve months to June 2024).
0.10 = 人民幣110億 ÷ (人民幣190億 - 人民幣8.2億)(根據2024年6月至2024年6月的年度數據)。
So, Foran Energy Group has an ROCE of 10%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Gas Utilities industry average of 9.0%.
因此,佛燃能源集團的ROCE爲10%。 從絕對意義上講,這是一個相當正常的回報,與燃料幣行業平均水平9.0%相當接近。
Above you can see how the current ROCE for Foran Energy Group compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Foran Energy Group .
您可以看到佛燃能源集團當前的資本回報率(ROCE)與其先前的資本回報率相比,但從過去只能得出有限的信息。如果您想了解分析師對未來的預測情況,您應該查看我們爲佛燃能源集團提供的免費分析師報告。
What The Trend Of ROCE Can Tell Us
儘管如此,當我們看 enphase energy (納斯達克股票代碼:ENPH) 的時候,它似乎並沒有完全符合這些要求。
When we looked at the ROCE trend at Foran Energy Group, we didn't gain much confidence. Over the last five years, returns on capital have decreased to 10% from 16% five years ago. 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.
當我們看佛燃能源集團的資本回報率(ROCE)趨勢時,我們並沒有獲得太多信心。在過去的五年中,資本回報率從16%下降到了10%。雖然營業收入和企業資產的增加表明公司正在投資增長,額外的資本導致了短期內ROCE的降低。如果增加的資本帶來額外的回報,業務及股東們將從中受益。
Another thing to note, Foran Energy Group has a high ratio of current liabilities to total assets of 42%. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.
另一個需要注意的是,佛燃能源集團目前的流動負債與總資產之比高達42%。這可能帶來一些風險,因爲公司基本上是在相當大程度上依賴其供應商或其他類型的短期債權人。雖然這並不一定是壞事,但如果這個比率較低可能會更有利。
The Bottom Line On Foran Energy Group's ROCE
佛燃能源集團ROCE的結論
In summary, despite lower returns in the short term, we're encouraged to see that Foran Energy Group is reinvesting for growth and has higher sales as a result. And the stock has followed suit returning a meaningful 85% to shareholders over 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.
總的來說,儘管短期內回報較低,我們很高興看到佛燃能源集團正在爲增長進行再投資,並因此獲得更高的銷售額。股票的表現也持續增長,過去五年爲股東們帶來了可觀的85%回報。因此,雖然投資者似乎認識到這些有希望的趨勢,我們將繼續深入研究這支股票以確保其他指標支持這一積極觀點。
If you'd like to know about the risks facing Foran Energy Group, we've discovered 1 warning sign that you should be aware of.
如果您想了解佛燃能源面臨的風險,我們已經發現了1個警告信號,您應該注意。
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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