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Town Health International Medical Group (HKG:3886) Is Experiencing Growth In Returns On Capital
Town Health International Medical Group (HKG:3886) Is Experiencing Growth In Returns On Capital
To find a multi-bagger stock, what are the underlying trends we should look for in a business? 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. Speaking of which, we noticed some great changes in Town Health International Medical Group's (HKG:3886) returns on capital, so let's have a look.
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 Town Health International Medical Group, this is the formula:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.026 = HK$114m ÷ (HK$4.7b - HK$421m) (Based on the trailing twelve months to December 2021).
So, Town Health International Medical Group has an ROCE of 2.6%. In absolute terms, that's a low return and it also under-performs the Healthcare industry average of 9.9%.
Check out our latest analysis for Town Health International Medical Group
SEHK:3886 Return on Capital Employed June 13th 2022Historical performance is a great place to start when researching a stock so above you can see the gauge for Town Health International Medical Group's ROCE against it's prior returns. If you want to delve into the historical earnings, revenue and cash flow of Town Health International Medical Group, check out these free graphs here.
What Can We Tell From Town Health International Medical Group's ROCE Trend?
Shareholders will be relieved that Town Health International Medical Group has broken into profitability. The company was generating losses five years ago, but has managed to turn it around and as we saw earlier is now earning 2.6%, which is always encouraging. Interestingly, the capital employed by the business has remained relatively flat, so these higher returns are either from prior investments paying off or increased efficiencies. That being said, while an increase in efficiency is no doubt appealing, it'd be helpful to know if the company does have any investment plans going forward. Because in the end, a business can only get so efficient.
The Bottom Line
In summary, we're delighted to see that Town Health International Medical Group has been able to increase efficiencies and earn higher rates of return on the same amount of capital. Given the stock has declined 59% in the last five years, this could be a good investment if the valuation and other metrics are also appealing. So researching this company further and determining whether or not these trends will continue seems justified.
Town Health International Medical Group does have some risks though, and we've spotted 2 warning signs for Town Health International Medical Group that you might be interested in.
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? 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. Speaking of which, we noticed some great changes in Town Health International Medical Group's (HKG:3886) returns on capital, so let's have a look.
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?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。说到这里,我们注意到了一些很大的变化城市健康国际医疗集团的(HKG:3886)资本回报率,让我们来看看。
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 Town Health International Medical Group, 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。要计算城市健康国际医疗集团的这一指标,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)
0.026 = HK$114m ÷ (HK$4.7b - HK$421m) (Based on the trailing twelve months to December 2021).
0.026=1.14亿港元(47亿-4.21亿港元)(根据截至2021年12月的往绩12个月计算).
So, Town Health International Medical Group has an ROCE of 2.6%. In absolute terms, that's a low return and it also under-performs the Healthcare industry average of 9.9%.
所以,城市健康国际医疗集团的净资产收益率为2.6%。按绝对值计算,这是一个较低的回报率,也低于9.9%的医疗行业平均水平。
Check out our latest analysis for Town Health International Medical Group
查看我们对城市健康国际医疗集团的最新分析
Historical performance is a great place to start when researching a stock so above you can see the gauge for Town Health International Medical Group's ROCE against it's prior returns. If you want to delve into the historical earnings, revenue and cash flow of Town Health International Medical Group, check out these free graphs here.
当研究一只股票时,历史表现是一个很好的起点,所以在上面你可以看到城市健康国际医疗集团的ROCE相对于它之前的回报的衡量标准。如果你想深入研究城市健康国际医疗集团的历史收益、收入和现金流,请查看以下内容免费图表在这里。
What Can We Tell From Town Health International Medical Group's ROCE Trend?
我们能从城市健康国际医疗集团的ROCE趋势中看出什么?
Shareholders will be relieved that Town Health International Medical Group has broken into profitability. The company was generating losses five years ago, but has managed to turn it around and as we saw earlier is now earning 2.6%, which is always encouraging. Interestingly, the capital employed by the business has remained relatively flat, so these higher returns are either from prior investments paying off or increased efficiencies. That being said, while an increase in efficiency is no doubt appealing, it'd be helpful to know if the company does have any investment plans going forward. Because in the end, a business can only get so efficient.
城镇健康国际医疗集团已经实现盈利,这将让股东们松一口气。该公司五年前出现亏损,但已经设法扭转了局面,正如我们之前看到的那样,现在的盈利为2.6%,这总是令人鼓舞的。有趣的是,企业使用的资本一直相对持平,因此这些较高的回报要么来自先前的投资回报,要么来自效率的提高。话虽如此,虽然提高效率无疑是有吸引力的,但了解该公司是否有任何未来的投资计划将是有帮助的。因为归根结底,一家企业只能变得如此高效。
The Bottom Line
底线
In summary, we're delighted to see that Town Health International Medical Group has been able to increase efficiencies and earn higher rates of return on the same amount of capital. Given the stock has declined 59% in the last five years, this could be a good investment if the valuation and other metrics are also appealing. So researching this company further and determining whether or not these trends will continue seems justified.
总而言之,我们很高兴地看到,城市健康国际医疗集团能够提高效率,并在相同的资本数额下获得更高的回报率。鉴于该公司股价在过去五年中下跌了59%,如果估值和其他指标也具有吸引力,这可能是一笔不错的投资。因此,进一步研究这家公司,并确定这些趋势是否会继续下去似乎是合理的。
Town Health International Medical Group does have some risks though, and we've spotted 2 warning signs for Town Health International Medical Group that you might be interested in.
然而,城市健康国际医疗集团确实存在一些风险,我们已经发现2个城市健康国际医疗集团的警示标志你可能会感兴趣的。
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。
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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。
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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