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Wanxiang QianchaoLtd (SZSE:000559) Is Looking To Continue Growing Its Returns On Capital

Wanxiang QianchaoLtd (SZSE:000559) Is Looking To Continue Growing Its Returns On Capital

萬向前超有限公司(SZSE:000559)正計劃繼續提升資本回報率
Simply Wall St ·  2024/11/24 09:43

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. Speaking of which, we noticed some great changes in Wanxiang QianchaoLtd's (SZSE:000559) returns on capital, so let's have a look.

我們應該關注早期趨勢,以識別長期內可能增值的股票? 除了其他因素外,我們希望看到兩個方面;首先,是資本使用回報率(ROCE)的增長,其次是公司所用資本的增加。 最終,這表明這是一個以不斷提高回報率再投資利潤的業務。 說到這,我們注意到萬象乾潮有限公司(SZSE:000559)在資本回報方面的一些變革,所以我們來看看。

What Is Return On Capital Employed (ROCE)?

我們對 Enphase Energy 的資本僱用回報率的看法:正如我們上面看到的,Enphase Energy 的資本回報率沒有提高,但它正在重新投資於業務。投資者必須認爲未來會有更好的前景,因爲股票表現良好,使持股五年以上的股東獲得了 690% 的收益。最終,如果基本趨勢持續存在,我們不會對它成爲一隻多頭股持有期很久很有信心。

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. Analysts use this formula to calculate it for Wanxiang QianchaoLtd:

爲了澄清,如果您不確定,ROCE是評估公司在其業務中投資資本所獲得的稅前收入(以百分比計算)多少的指標。 分析師使用這個公式來計算萬象乾潮有限公司的ROCE:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

資本利用率 = 利息和稅前利潤(EBIT) ÷ (總資產 - 流動負債)

0.099 = CN¥1.1b ÷ (CN¥22b - CN¥11b) (Based on the trailing twelve months to September 2024).

0.099 = CN¥11億 ÷ (CN¥220億 - CN¥11億)(以截至2024年9月的過去十二個月爲依據)。

So, Wanxiang QianchaoLtd has an ROCE of 9.9%. On its own that's a low return, but compared to the average of 6.9% generated by the Auto Components industry, it's much better.

所以,萬象乾潮有限公司的ROCE爲9.9%。 單獨來看這是一個較低的回報,但與汽車元件行業平均6.9%的回報相比,這要好得多。

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SZSE:000559 Return on Capital Employed November 24th 2024
SZSE:000559 資本使用回報率 2024年11月24日

Historical performance is a great place to start when researching a stock so above you can see the gauge for Wanxiang QianchaoLtd's ROCE against it's prior returns. If you'd like to look at how Wanxiang QianchaoLtd has performed in the past in other metrics, you can view this free graph of Wanxiang QianchaoLtd's past earnings, revenue and cash flow.

歷史表現是研究股票的一個重要起點,因此在上面你可以看到萬象乾潮有限公司的資本回報率(ROCE)與之前回報的比較。如果你想查看萬象乾潮有限公司過去在其他指標上的表現,可以查看這張關於萬象乾潮有限公司過去盈利、營業收入和現金流的免費圖表。

What Does the ROCE Trend For Wanxiang QianchaoLtd Tell Us?

萬象乾潮有限公司的ROCE趨勢告訴我們什麼?

While in absolute terms it isn't a high ROCE, it's promising to see that it has been moving in the right direction. Over the last five years, returns on capital employed have risen substantially to 9.9%. Basically the business is earning more per dollar of capital invested and in addition to that, 65% more capital is being employed now too. So we're very much inspired by what we're seeing at Wanxiang QianchaoLtd thanks to its ability to profitably reinvest capital.

雖然就絕對值而言,ROCE並不高,但看到它朝着正確的方向發展是令人鼓舞的。在過去五年中,使用資本的回報顯著上升至9.9%。基本上,業務每投入一美元資本賺取的利潤更多,且現在使用的資本也增加了65%。因此,看到萬象乾潮有限公司能有效地再投資資本,我們倍感振奮。

On a side note, Wanxiang QianchaoLtd's current liabilities are still rather high at 49% of total assets. 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.

順便提一下,萬象乾潮有限公司的流動負債仍然相當高,佔總資產的49%。這實際上意味着供應商(或短期債權人)爲業務提供了大量資金,因此要注意這可能會引入一些風險因素。雖然這並不一定是壞事,但如果這個比例較低,將會更有利。

What We Can Learn From Wanxiang QianchaoLtd's ROCE

我們可以從萬象乾潮有限公司的ROCE中學到什麼

All in all, it's terrific to see that Wanxiang QianchaoLtd is reaping the rewards from prior investments and is growing its capital base. And investors seem to expect more of this going forward, since the stock has rewarded shareholders with a 48% return over the last five years. Therefore, we think it would be worth your time to check if these trends are going to continue.

總的來說,看到萬象乾潮有限公司從之前的投資中獲得回報並且其資本基礎在增長是非常棒的。而且投資者似乎期望未來會有更多這樣的情況,因爲該股票在過去五年內爲股東帶來了48%的回報。因此,我們認爲值得你花時間去檢查這些趨勢是否會持續。

Wanxiang QianchaoLtd does have some risks though, and we've spotted 1 warning sign for Wanxiang QianchaoLtd that you might be interested in.

萬向錢潮有限公司確實存在一些風險,我們發現了1個警示信號,萬向錢潮有限公司可能會引起你的興趣。

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.

對於喜歡投資穩健公司的人,請查看這份具有穩健資產負債表和高權益回報的公司免費列表。

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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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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。

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