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Investors Could Be Concerned With Digital China Information Service's (SZSE:000555) Returns On Capital
Investors Could Be Concerned With Digital China Information Service's (SZSE:000555) Returns On Capital
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. However, after briefly looking over the numbers, we don't think Digital China Information Service (SZSE:000555) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
Return On Capital Employed (ROCE): What is it?
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for Digital China Information Service, this is the formula:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.059 = CN¥363m ÷ (CN¥12b - CN¥5.7b) (Based on the trailing twelve months to March 2022).
Therefore, Digital China Information Service has an ROCE of 5.9%. In absolute terms, that's a low return but it's around the IT industry average of 5.4%.
View our latest analysis for Digital China Information Service
SZSE:000555 Return on Capital Employed May 24th 2022Above you can see how the current ROCE for Digital China Information Service 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 Digital China Information Service.
So How Is Digital China Information Service's ROCE Trending?
When we looked at the ROCE trend at Digital China Information Service, we didn't gain much confidence. Around five years ago the returns on capital were 7.9%, but since then they've fallen to 5.9%. However it looks like Digital China Information Service 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 may take some time before the company starts to see any change in earnings from these investments.
Another thing to note, Digital China Information Service has a high ratio of current liabilities to total assets of 48%. 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. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
Our Take On Digital China Information Service's ROCE
To conclude, we've found that Digital China Information Service is reinvesting in the business, but returns have been falling. And in the last five years, the stock has given away 35% so the market doesn't look too hopeful on these trends strengthening any time soon. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.
If you want to continue researching Digital China Information Service, you might be interested to know about the 1 warning sign that our analysis has discovered.
While Digital China Information Service 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.
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. However, after briefly looking over the numbers, we don't think Digital China Information Service (SZSE:000555) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
你知道吗,有一些财务指标可以提供潜在的多管齐下的线索?通常,我们会注意到一种增长的趋势返回关于已使用资本(ROCE)以及与之相伴随的是不断扩大的基座已动用资本的比例。这向我们表明,它是一台复合机器,能够不断地将其收益再投资于企业,并产生更高的回报。然而,在简单地看了一下数字之后,我们认为数字中国信息服务(SZSE:000555)具备了未来实现多个袋子的条件,但让我们来看看为什么会这样。
Return On Capital Employed (ROCE): What is it?
资本回报率(ROCE):它是什么?
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for Digital China Information Service, this is the formula:
对于那些不确定ROCE是什么的人,它衡量的是一家公司可以从其业务中使用的资本产生的税前利润。要计算神州数码信息服务的这一指标,公式如下:
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)
0.059 = CN¥363m ÷ (CN¥12b - CN¥5.7b) (Based on the trailing twelve months to March 2022).
0.059=3.63亿元?(120亿元-57亿元)(根据截至2022年3月的往绩12个月计算).
Therefore, Digital China Information Service has an ROCE of 5.9%. In absolute terms, that's a low return but it's around the IT industry average of 5.4%.
所以呢,神州数码的净资产收益率为5.9%。按绝对值计算,这是一个较低的回报率,但约为IT行业5.4%的平均水平。
View our latest analysis for Digital China Information Service
查看我们对神州数码信息服务的最新分析
Above you can see how the current ROCE for Digital China Information Service 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 Digital China Information Service.
在上面,你可以看到神州数码目前的净资产收益率与之前的资本回报率相比如何,但你只能从过去了解到这么多。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《神州数码信息服务》报道。
So How Is Digital China Information Service's ROCE Trending?
那么神州数码的ROCE趋势如何呢?
When we looked at the ROCE trend at Digital China Information Service, we didn't gain much confidence. Around five years ago the returns on capital were 7.9%, but since then they've fallen to 5.9%. However it looks like Digital China Information Service 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 may take some time before the company starts to see any change in earnings from these investments.
当我们观察神州数码的ROCE趋势时,我们并没有获得太多信心。大约五年前,资本回报率为7.9%,但自那以来已降至5.9%。然而,神州数码似乎正在为长期增长进行再投资,因为尽管已动用资本有所增加,但该公司的销售额在过去12个月里没有太大变化。该公司可能需要一段时间才能开始看到这些投资带来的收益变化。
Another thing to note, Digital China Information Service has a high ratio of current liabilities to total assets of 48%. 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. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
另外需要注意的是,神州数码的流动负债与总资产之比高达48%。这实际上意味着供应商(或短期债权人)正在为很大一部分业务提供资金,因此只需意识到这可能会带来一些风险因素。理想情况下,我们希望看到这一比例降低,因为这将意味着承担风险的债务更少。
Our Take On Digital China Information Service's ROCE
我们对神州数码信息服务公司ROCE的看法
To conclude, we've found that Digital China Information Service is reinvesting in the business, but returns have been falling. And in the last five years, the stock has given away 35% so the market doesn't look too hopeful on these trends strengthening any time soon. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.
总而言之,我们发现神州数码正在对业务进行再投资,但回报一直在下降。在过去五年中,该股下跌了35%,因此市场看起来对这些趋势不会很快走强抱有太大希望。无论如何,这只股票不具备上面讨论的多袋子股票的这些特征,所以如果这就是你正在寻找的,我们认为你在其他地方会有更多的运气。
If you want to continue researching Digital China Information Service, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果您想继续研究神州数码信息服务,您可能有兴趣了解有关1个警告标志我们的分析发现。
While Digital China Information Service 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.
虽然神州数码目前的回报率可能不是最高的,但我们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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