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Zhejiang Lante Optics (SHSE:688127) Might Be Having Difficulty Using Its Capital Effectively
Zhejiang Lante Optics (SHSE:688127) Might Be Having Difficulty Using Its Capital Effectively
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Having said that, from a first glance at Zhejiang Lante Optics (SHSE:688127) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
What is Return On Capital Employed (ROCE)?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for Zhejiang Lante Optics:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.06 = CN¥95m ÷ (CN¥1.7b - CN¥101m) (Based on the trailing twelve months to March 2022).
Therefore, Zhejiang Lante Optics has an ROCE of 6.0%. In absolute terms, that's a low return and it also under-performs the Electronic industry average of 8.1%.
See our latest analysis for Zhejiang Lante Optics
SHSE:688127 Return on Capital Employed May 20th 2022Above you can see how the current ROCE for Zhejiang Lante Optics 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 report for Zhejiang Lante Optics.
So How Is Zhejiang Lante Optics' ROCE Trending?
In terms of Zhejiang Lante Optics' historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 6.0% from 22% five years ago. However it looks like Zhejiang Lante Optics might be reinvesting for long term growth because while capital employed has increased, the company's sales haven't changed much in the last 12 months. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
On a side note, Zhejiang Lante Optics has done well to pay down its current liabilities to 6.0% of total assets. So we could link some of this to the decrease in ROCE. 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.
The Bottom Line On Zhejiang Lante Optics' ROCE
To conclude, we've found that Zhejiang Lante Optics is reinvesting in the business, but returns have been falling. And investors appear hesitant that the trends will pick up because the stock has fallen 22% in the last year. All in all, the inherent trends aren't typical of multi-baggers, so if that's what you're after, we think you might have more luck elsewhere.
One final note, you should learn about the 3 warning signs we've spotted with Zhejiang Lante Optics (including 1 which is a bit concerning) .
While Zhejiang Lante Optics isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
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.
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Having said that, from a first glance at Zhejiang Lante Optics (SHSE:688127) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
如果我们想要找到一个潜在的多管齐下的人,往往有潜在的趋势可以提供线索。首先,我们希望看到一个经过验证的返回关于已使用资本(ROCE)的增长,其次是扩张基座已动用资本的比例。归根结底,这表明它是一家正在以越来越高的回报率对利润进行再投资的企业。话虽如此,从第一眼看浙江朗特光学(上海证券交易所:688127)我们不会因为回报率的趋势而从椅子上跳起来,但让我们更深入地看看。
What is Return On Capital Employed (ROCE)?
什么是资本回报率(ROCE)?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for Zhejiang Lante Optics:
如果你以前没有使用过ROCE,它衡量的是一家公司从业务资本中获得的“回报”(税前利润)。分析人士使用以下公式计算浙江蓝特光学的价格:
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)
0.06 = CN¥95m ÷ (CN¥1.7b - CN¥101m) (Based on the trailing twelve months to March 2022).
0.06=CN元9500万?(CN元17亿元-CN元1.01亿元)(根据截至2022年3月的往绩12个月计算).
Therefore, Zhejiang Lante Optics has an ROCE of 6.0%. In absolute terms, that's a low return and it also under-performs the Electronic industry average of 8.1%.
所以呢,浙江朗特光学的净资产收益率为6.0%。按绝对值计算,这是一个较低的回报率,也低于电子行业8.1%的平均水平。
See our latest analysis for Zhejiang Lante Optics
查看我们对浙江蓝特光学的最新分析
Above you can see how the current ROCE for Zhejiang Lante Optics 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 report for Zhejiang Lante Optics.
上图中,你可以看到浙江蓝特光学目前的净资产收益率与之前的资本回报率相比如何,但从过去你只能看出这么多。如果您想查看分析师对未来的预测,您应该查看我们的免费浙江蓝特光学的报道。
So How Is Zhejiang Lante Optics' ROCE Trending?
那么,浙江蓝特光学的ROCE趋势如何?
In terms of Zhejiang Lante Optics' historical ROCE movements, the trend isn't fantastic. Over the last five years, returns on capital have decreased to 6.0% from 22% five years ago. However it looks like Zhejiang Lante Optics might be reinvesting for long term growth because while capital employed has increased, the company's sales haven't changed much in the last 12 months. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
就浙江蓝天光学历史上的ROCE运动而言,这一趋势并不美妙。过去五年,资本回报率从五年前的22%降至6.0%。然而,看起来浙江蓝特光学可能正在为长期增长进行再投资,因为尽管已动用的资本有所增加,但该公司的销售额在过去12个月里没有太大变化。从现在开始,值得密切关注该公司的收益,看看这些投资最终是否真的为利润做出了贡献。
On a side note, Zhejiang Lante Optics has done well to pay down its current liabilities to 6.0% of total assets. So we could link some of this to the decrease in ROCE. 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.
另外,浙江蓝特光学在偿还当前负债至总资产的6.0%方面做得很好。因此,我们可以将其中一些因素与净资产收益率的下降联系起来。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。
The Bottom Line On Zhejiang Lante Optics' ROCE
浙江朗特光学的ROCE底线
To conclude, we've found that Zhejiang Lante Optics is reinvesting in the business, but returns have been falling. And investors appear hesitant that the trends will pick up because the stock has fallen 22% in the last year. All in all, the inherent trends aren't typical of multi-baggers, so if that's what you're after, we think you might have more luck elsewhere.
总而言之,我们发现浙江蓝特光学正在对这项业务进行再投资,但回报一直在下降。投资者似乎对趋势是否会回升犹豫不决,因为该股在过去一年里下跌了22%。总而言之,内在的趋势并不是典型的多重投放者,所以如果这是你想要的,我们认为你在其他地方可能会有更多的运气。
One final note, you should learn about the 3 warning signs we've spotted with Zhejiang Lante Optics (including 1 which is a bit concerning) .
最后一个注意事项,您应该了解3个警示标志我们已经发现了浙江蓝天光学(包括1,这是一个有点令人担忧)。
While Zhejiang Lante Optics isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
虽然浙江蓝特光学并没有获得最高的回报,但看看这个免费资产负债表稳健、股本回报率高的公司名单。
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。
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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。
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