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There Are Reasons To Feel Uneasy About Edvantage Group Holdings' (HKG:382) Returns On Capital
There Are Reasons To Feel Uneasy About Edvantage Group Holdings' (HKG:382) Returns On Capital
To find a multi-bagger stock, what are the underlying trends we should look for in a business? 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. 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 Edvantage Group Holdings (HKG:382), it didn't seem to tick all of these boxes.
Return On Capital Employed (ROCE): What is it?
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 Edvantage Group Holdings is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.11 = CN¥501m ÷ (CN¥6.4b - CN¥1.7b) (Based on the trailing twelve months to February 2022).
So, Edvantage Group Holdings has an ROCE of 11%. That's a relatively normal return on capital, and it's around the 9.9% generated by the Consumer Services industry.
Check out our latest analysis for Edvantage Group Holdings
SEHK:382 Return on Capital Employed May 13th 2022In the above chart we have measured Edvantage Group Holdings' 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 report on analyst forecasts for the company.
So How Is Edvantage Group Holdings' ROCE Trending?
When we looked at the ROCE trend at Edvantage Group Holdings, we didn't gain much confidence. To be more specific, ROCE has fallen from 25% over the last five years. 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.
On a related note, Edvantage Group Holdings has decreased its current liabilities to 26% of total assets. That could partly explain why the ROCE has dropped. Effectively this means their suppliers or short-term creditors are funding less of the business, which reduces some elements of risk. Some would claim this reduces the business' efficiency at generating ROCE since it is now funding more of the operations with its own money.
What We Can Learn From Edvantage Group Holdings' ROCE
Even though returns on capital have fallen in the short term, we find it promising that revenue and capital employed have both increased for Edvantage Group Holdings. However, despite the promising trends, the stock has fallen 69% over the last year, so there might be an opportunity here for astute investors. As a result, we'd recommend researching this stock further to uncover what other fundamentals of the business can show us.
Like most companies, Edvantage Group Holdings does come with some risks, and we've found 2 warning signs that you should be aware of.
While Edvantage Group Holdings may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
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.
To find a multi-bagger stock, what are the underlying trends we should look for in a business? 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. 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 Edvantage Group Holdings (HKG:382), it didn't seem to tick all of these boxes.
要找到一只多袋股票,我们应该在一家企业中寻找什么潜在趋势?一种常见的方法是尝试找到一家拥有退货已使用资本(ROCE)正在增加,同时也在增长金额已动用资本的比例。基本上,这意味着一家公司有盈利的举措,可以继续进行再投资,这是复合机器的一个特点。虽然,当我们看到Edvantage集团控股(HKG:382),它似乎没有勾选所有这些框。
Return On Capital Employed (ROCE): What is it?
资本回报率(ROCE):它是什么?
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 Edvantage Group Holdings is:
对于那些不知道的人来说,ROCE是一家公司的年度税前利润(其回报)相对于业务资本的衡量标准。Edvantage Group Holdings的这一计算公式为:
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)
0.11 = CN¥501m ÷ (CN¥6.4b - CN¥1.7b) (Based on the trailing twelve months to February 2022).
0.11=CN元5.01亿?(CN元64亿-CN元17亿)(根据截至2022年2月的往绩12个月计算).
So, Edvantage Group Holdings has an ROCE of 11%. That's a relatively normal return on capital, and it's around the 9.9% generated by the Consumer Services industry.
所以,Edvantage Group Holdings的净资产收益率为11%。这是一个相对正常的资本回报率,大约是消费者服务行业9.9%的回报率。
Check out our latest analysis for Edvantage Group Holdings
查看我们对Edvantage Group Holdings的最新分析
In the above chart we have measured Edvantage Group Holdings' 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 report on analyst forecasts for the company.
在上面的图表中,我们衡量了Edvantage Group Holdings之前的净资产收益率与其之前的表现,但可以说,未来更重要。如果您感兴趣,您可以在我们的免费分析师对该公司的预测报告。
So How Is Edvantage Group Holdings' ROCE Trending?
那么,Edvantage Group Holdings的ROCE趋势如何?
When we looked at the ROCE trend at Edvantage Group Holdings, we didn't gain much confidence. To be more specific, ROCE has fallen from 25% over the last five years. 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Edvantage Group Holdings的ROCE趋势时,我们并没有获得太多信心。更具体地说,ROCE在过去五年中从25%下降。尽管,考虑到收入和业务中使用的资产数量都有所增加,这可能表明该公司正在投资于增长,而额外的资本导致了ROCE的短期下降。如果增加的资本产生额外的回报,从长远来看,企业和股东都将受益。
On a related note, Edvantage Group Holdings has decreased its current liabilities to 26% of total assets. That could partly explain why the ROCE has dropped. Effectively this means their suppliers or short-term creditors are funding less of the business, which reduces some elements of risk. Some would claim this reduces the business' efficiency at generating ROCE since it is now funding more of the operations with its own money.
与此相关的是,Edvantage Group Holdings已将其流动负债降至总资产的26%。这可能在一定程度上解释了ROCE下降的原因。实际上,这意味着它们的供应商或短期债权人减少了对业务的融资,这降低了一些风险因素。一些人会说,这降低了企业产生净资产收益率的效率,因为它现在用自己的钱为更多的运营提供资金。
What We Can Learn From Edvantage Group Holdings' ROCE
我们可以从Edvantage Group Holdings的ROCE中学到什么
Even though returns on capital have fallen in the short term, we find it promising that revenue and capital employed have both increased for Edvantage Group Holdings. However, despite the promising trends, the stock has fallen 69% over the last year, so there might be an opportunity here for astute investors. As a result, we'd recommend researching this stock further to uncover what other fundamentals of the business can show us.
尽管资本回报率在短期内下降,但我们发现,Edvantage Group Holdings的收入和使用的资本都有所增加,这是有希望的。然而,尽管趋势看好,但该股在过去一年中下跌了69%,因此精明的投资者可能会有机会。因此,我们建议进一步研究这只股票,以揭示该业务的其他基本面可以向我们展示什么。
Like most companies, Edvantage Group Holdings does come with some risks, and we've found 2 warning signs that you should be aware of.
像大多数公司一样,Edvantage Group Holdings也存在一些风险,我们发现2个警告标志这一点你应该知道。
While Edvantage Group Holdings may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
虽然Edvantage Group Holdings目前可能没有获得最高的回报,但我们已经编制了一份目前股本回报率超过25%的公司名单。看看这个免费在这里列出。
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.
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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