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Be Wary Of Shanghai Kindly Medical Instruments (HKG:1501) And Its Returns On Capital
Be Wary Of Shanghai Kindly Medical Instruments (HKG:1501) And Its Returns On Capital
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. However, after investigating Shanghai Kindly Medical Instruments (HKG:1501), we don't think it's current trends fit the mold of a multi-bagger.
Understanding 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. To calculate this metric for Shanghai Kindly Medical Instruments, this is the formula:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.079 = CN¥116m ÷ (CN¥1.6b - CN¥153m) (Based on the trailing twelve months to December 2021).
So, Shanghai Kindly Medical Instruments has an ROCE of 7.9%. In absolute terms, that's a low return and it also under-performs the Medical Equipment industry average of 10%.
View our latest analysis for Shanghai Kindly Medical Instruments
SEHK:1501 Return on Capital Employed June 10th 2022In the above chart we have measured Shanghai Kindly Medical Instruments' prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Shanghai Kindly Medical Instruments here for free.
What Can We Tell From Shanghai Kindly Medical Instruments' ROCE Trend?
When we looked at the ROCE trend at Shanghai Kindly Medical Instruments, we didn't gain much confidence. To be more specific, ROCE has fallen from 21% over the last five years. However, given capital employed and revenue have both increased it appears that the business is currently pursuing growth, at the consequence of short term returns. If these investments prove successful, this can bode very well for long term stock performance.
The Bottom Line
While returns have fallen for Shanghai Kindly Medical Instruments in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. And there could be an opportunity here if other metrics look good too, because the stock has declined 58% in the last year. So we think it'd be worthwhile to look further into this stock given the trends look encouraging.
One more thing: We've identified 2 warning signs with Shanghai Kindly Medical Instruments (at least 1 which is a bit concerning) , and understanding these would certainly be useful.
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high 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.
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. However, after investigating Shanghai Kindly Medical Instruments (HKG:1501), we don't think it's current trends fit the mold of a multi-bagger.
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?理想情况下,一家企业将呈现两种趋势;第一,增长返回关于已使用资本(ROCE),第二,增加金额已动用资本的比例。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。不过,经过调查,上海和善医疗器械有限公司(HKG:1501),我们认为目前的趋势不符合多袋子模式。
Understanding Return On Capital Employed (ROCE)
了解资本回报率(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. To calculate this metric for Shanghai Kindly Medical Instruments, this is the formula:
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)。要计算上海和善医疗器械的这一指标,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)
0.079 = CN¥116m ÷ (CN¥1.6b - CN¥153m) (Based on the trailing twelve months to December 2021).
0.079=CN元1.16亿?(CN元16亿-CN元1.53亿)(根据截至2021年12月的往绩12个月计算).
So, Shanghai Kindly Medical Instruments has an ROCE of 7.9%. In absolute terms, that's a low return and it also under-performs the Medical Equipment industry average of 10%.
所以,上海和善医疗器械的净资产收益率为7.9%。按绝对值计算,这是一个较低的回报率,也低于医疗设备行业10%的平均水平。
View our latest analysis for Shanghai Kindly Medical Instruments
查看我们对上海和善医疗器械的最新分析
In the above chart we have measured Shanghai Kindly Medical Instruments' prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Shanghai Kindly Medical Instruments here for free.
在上面的图表中,我们衡量了上海仁慈医疗器械公司之前的净资产收益率和之前的表现,但可以说,未来更重要。如果您愿意,您可以在这里查看上海和善医疗器械分析师的预测免费的。
What Can We Tell From Shanghai Kindly Medical Instruments' ROCE Trend?
从上海友善医疗器械的ROCE趋势中我们可以看出什么?
When we looked at the ROCE trend at Shanghai Kindly Medical Instruments, we didn't gain much confidence. To be more specific, ROCE has fallen from 21% over the last five years. However, given capital employed and revenue have both increased it appears that the business is currently pursuing growth, at the consequence of short term returns. If these investments prove successful, this can bode very well for long term stock performance.
当我们看着上海仁慈医疗器械公司的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21%下降。然而,鉴于已动用资本和收入都有所增加,该业务目前似乎正在追求增长,这是短期回报的结果。如果这些投资被证明是成功的,这可能是长期股票表现的好兆头。
The Bottom Line
底线
While returns have fallen for Shanghai Kindly Medical Instruments in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. And there could be an opportunity here if other metrics look good too, because the stock has declined 58% in the last year. So we think it'd be worthwhile to look further into this stock given the trends look encouraging.
虽然最近上海仁慈医疗器械的回报率有所下降,但我们看到销售额在增长,而且该业务正在对其业务进行再投资,这让我们感到鼓舞。如果其他指标也看起来不错,这可能是一个机会,因为该股在过去一年里下跌了58%。因此,我们认为,鉴于趋势看起来令人鼓舞,进一步研究这只股票是值得的。
One more thing: We've identified 2 warning signs with Shanghai Kindly Medical Instruments (at least 1 which is a bit concerning) , and understanding these would certainly be useful.
还有一件事:我们已经确定了2个警告标志与上海和善医疗器械(至少1个有点令人担忧)合作,了解这些肯定会有所帮助。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
对于那些喜欢投资于稳固的公司,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。
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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