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Returns On Capital At Zhejiang Huangma TechnologyLtd (SHSE:603181) Have Stalled

Returns On Capital At Zhejiang Huangma TechnologyLtd (SHSE:603181) Have Stalled

浙江黃馬科技有限公司(SHSE:603181)的資本回報率已經停滯
Simply Wall St ·  12/03 23:08

If you're looking for a multi-bagger, there's a few things to keep an eye out for. 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. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. So, when we ran our eye over Zhejiang Huangma TechnologyLtd's (SHSE:603181) trend of ROCE, we liked what we saw.

如果你在尋找潛在的倍增股票,有幾個事情需要關注。除了其他因素,我們想看到兩點;首先是資本回報率(ROCE)的增長,其次是公司使用的資本量的擴張。如果你看到這些,通常意味着這是一家擁有良好商業模式和大量盈利再投資機會的公司。所以,當我們觀察浙江黃馬科技有限公司(SHSE:603181)ROCE的趨勢時,我們對看到的結果感到滿意。

Return On Capital Employed (ROCE): What Is It?

資本利用率(ROCE)是什麼?

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 Zhejiang Huangma TechnologyLtd, this is the formula:

如果你以前沒有使用過ROCE,它衡量的是公司從其業務中已投入資本所產生的「回報」(稅前利潤)。要計算浙江黃馬科技有限公司的這一指標,公式爲:

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)

0.12 = CN¥401m ÷ (CN¥3.7b - CN¥433m) (Based on the trailing twelve months to September 2024).

0.12 = CN¥40100萬 ÷ (CN¥37億 - CN¥433m) (基於截至2024年9月的過去十二個月數據)。

Thus, Zhejiang Huangma TechnologyLtd has an ROCE of 12%. On its own, that's a standard return, however it's much better than the 5.4% generated by the Chemicals industry.

因此,浙江黃馬科技有限公司的ROCE爲12%。單獨來看,這是一個標準回報,但比化學品行業5.4%的回報要好得多。

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SHSE:603181 Return on Capital Employed December 4th 2024
SHSE:603181 資本回報率 2024年12月4日

Above you can see how the current ROCE for Zhejiang Huangma TechnologyLtd 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 Zhejiang Huangma TechnologyLtd .

在這裏,您可以看到浙江黃馬科技有限公司目前的資本回報率(ROCE)與其過去的資本回報相比,但從過去的數據中能得到的信息有限。如果您想了解分析師對未來的預測,您應該查看我們爲浙江黃馬科技有限公司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。

The trend of ROCE doesn't stand out much, but returns on a whole are decent. The company has consistently earned 12% for the last five years, and the capital employed within the business has risen 79% in that time. 12% is a pretty standard return, and it provides some comfort knowing that Zhejiang Huangma TechnologyLtd has consistently earned this amount. Over long periods of time, returns like these might not be too exciting, but with consistency they can pay off in terms of share price returns.

ROCE的趨勢並不特別突出,但整體回報情況還不錯。公司在過去五年裏持續保持12%的收益,期間業務中使用的資本增加了79%。12%的回報率相當標準,了解浙江黃馬科技有限公司持續盈利這一金額讓人感到安慰。在較長的時間內,這樣的回報可能不會太令人興奮,但憑藉持續性,這些回報可能在股票價格方面有所回報。

The Bottom Line On Zhejiang Huangma TechnologyLtd's ROCE

關於浙江黃馬科技有限公司的ROCE的底線

In the end, Zhejiang Huangma TechnologyLtd has proven its ability to adequately reinvest capital at good rates of return. And since the stock has risen strongly over the last five years, it appears the market might expect this trend to continue. So even though the stock might be more "expensive" than it was before, we think the strong fundamentals warrant this stock for further research.

最終,浙江黃馬科技有限公司證明了其能夠以良好的回報率充分再投資資本。由於股票在過去五年中大幅上漲,市場似乎希望這一趨勢能夠持續。因此,儘管該股票可能比之前更「昂貴」,我們認爲強勁的基本面使得該股票值得進一步研究。

If you want to continue researching Zhejiang Huangma TechnologyLtd, you might be interested to know about the 1 warning sign that our analysis has discovered.

如果您想繼續研究浙江黃馬科技有限公司,您可能會對我們分析發現的1個警告信號感興趣。

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

雖然浙江黃馬科技有限公司的回報並不最高,但請查看這份免費的公司名單,這些公司擁有良好的資產負債表並且收益高。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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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