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Sinostar Cable (SZSE:300933) Has Some Way To Go To Become A Multi-Bagger
Sinostar Cable (SZSE:300933) Has Some Way To Go To Become A Multi-Bagger
To find a multi-bagger stock, what are the underlying trends we should look for in a business? 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. Although, when we looked at Sinostar Cable (SZSE:300933), it didn't seem to tick all of these boxes.
What is Return On Capital Employed (ROCE)?
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. To calculate this metric for Sinostar Cable, this is the formula:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.088 = CN¥125m ÷ (CN¥2.9b - CN¥1.5b) (Based on the trailing twelve months to March 2022).
So, Sinostar Cable has an ROCE of 8.8%. In absolute terms, that's a low return but it's around the Electrical industry average of 8.4%.
See our latest analysis for Sinostar Cable
SZSE:300933 Return on Capital Employed May 31st 2022Historical performance is a great place to start when researching a stock so above you can see the gauge for Sinostar Cable's ROCE against it's prior returns. If you want to delve into the historical earnings, revenue and cash flow of Sinostar Cable, check out these free graphs here.
How Are Returns Trending?
The returns on capital haven't changed much for Sinostar Cable in recent years. Over the past five years, ROCE has remained relatively flat at around 8.8% and the business has deployed 94% more capital into its operations. Given the company has increased the amount of capital employed, it appears the investments that have been made simply don't provide a high return on capital.
On a side note, Sinostar Cable's current liabilities are still rather high at 51% 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. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
The Bottom Line On Sinostar Cable's ROCE
In conclusion, Sinostar Cable has been investing more capital into the business, but returns on that capital haven't increased. Since the stock has declined 27% over the last year, investors may not be too optimistic on this trend improving either. Therefore based on the analysis done in this article, we don't think Sinostar Cable has the makings of a multi-bagger.
While Sinostar Cable doesn't shine too bright in this respect, it's still worth seeing if the company is trading at attractive prices. You can find that out with our FREE intrinsic value estimation on our platform.
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
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? 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. Although, when we looked at Sinostar Cable (SZSE:300933), 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?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。虽然,当我们看到华星电缆(SZSE:300933),它似乎没有勾选所有这些框。
What is Return On Capital Employed (ROCE)?
什么是资本回报率(ROCE)?
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. To calculate this metric for Sinostar Cable, this is the formula:
如果您不确定,只需澄清一下,ROCE是一种评估公司投资于其业务的资本获得多少税前收入(按百分比计算)的指标。要计算华星有线电视的这一指标,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)
0.088 = CN¥125m ÷ (CN¥2.9b - CN¥1.5b) (Based on the trailing twelve months to March 2022).
0.088=CN元1.25亿?(CN元29亿-CN元15亿)(根据截至2022年3月的往绩12个月计算).
So, Sinostar Cable has an ROCE of 8.8%. In absolute terms, that's a low return but it's around the Electrical industry average of 8.4%.
所以,中星有线的净资产收益率为8.8%。按绝对值计算,这是一个较低的回报率,但约为电气行业8.4%的平均水平。
See our latest analysis for Sinostar Cable
查看我们对中星有线的最新分析
Historical performance is a great place to start when researching a stock so above you can see the gauge for Sinostar Cable's ROCE against it's prior returns. If you want to delve into the historical earnings, revenue and cash flow of Sinostar Cable, check out these free graphs here.
在研究一只股票时,历史表现是一个很好的起点,因为在历史表现之上,你可以看到华星有线的ROCE相对于它之前的回报的衡量标准。如果你想深入研究中星有线的历史收益、收入和现金流,请查看以下内容免费图表在这里。
How Are Returns Trending?
回报趋势如何?
The returns on capital haven't changed much for Sinostar Cable in recent years. Over the past five years, ROCE has remained relatively flat at around 8.8% and the business has deployed 94% more capital into its operations. Given the company has increased the amount of capital employed, it appears the investments that have been made simply don't provide a high return on capital.
近年来,中星有线的资本回报率变化不大。在过去五年中,净资产收益率相对持平,保持在8.8%左右,该业务在运营中投入的资本增加了94%。鉴于该公司增加了已动用资本的数量,这些投资似乎根本不能带来高的资本回报。
On a side note, Sinostar Cable's current liabilities are still rather high at 51% 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. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
另外,中星有线的流动负债仍相当高,占总资产的51%。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。
The Bottom Line On Sinostar Cable's ROCE
华星有线电视ROCE的底线
In conclusion, Sinostar Cable has been investing more capital into the business, but returns on that capital haven't increased. Since the stock has declined 27% over the last year, investors may not be too optimistic on this trend improving either. Therefore based on the analysis done in this article, we don't think Sinostar Cable has the makings of a multi-bagger.
总而言之,中星有线一直在向该业务投入更多资本,但这些资本的回报并没有增加。由于该股在过去一年中下跌了27%,投资者对这一趋势的改善可能也不会太乐观。因此,根据本文的分析,我们认为中星有线不具备多管齐下的条件。
While Sinostar Cable doesn't shine too bright in this respect, it's still worth seeing if the company is trading at attractive prices. You can find that out with our FREE intrinsic value estimation on our platform.
虽然中星有线在这方面并不是很抢眼,但该公司的股价是否具有吸引力仍值得关注。您可以通过我们的自由内在价值估计在我们的平台上。
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
如果你想寻找收入丰厚的可靠公司,看看这个免费拥有良好资产负债表和可观股本回报率的公司名单。
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。
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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