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Returns On Capital At Focus Lightings Tech (SZSE:300708) Have Hit The Brakes
Returns On Capital At Focus Lightings Tech (SZSE:300708) Have Hit The Brakes
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. With that in mind, the ROCE of Focus Lightings Tech (SZSE:300708) looks decent, right now, so lets see what the trend of returns can tell us.
Understanding Return On Capital Employed (ROCE)
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Focus Lightings Tech is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.10 = CN¥191m ÷ (CN¥3.0b - CN¥1.2b) (Based on the trailing twelve months to March 2022).
Thus, Focus Lightings Tech has an ROCE of 10%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Semiconductor industry average of 8.6%.
See our latest analysis for Focus Lightings Tech
SZSE:300708 Return on Capital Employed June 15th 2022Above you can see how the current ROCE for Focus Lightings Tech 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 Focus Lightings Tech.
The Trend Of ROCE
The trend of ROCE doesn't stand out much, but returns on a whole are decent. Over the past five years, ROCE has remained relatively flat at around 10% and the business has deployed 190% more capital into its operations. Since 10% is a moderate ROCE though, it's good to see a business can continue to reinvest at these decent rates of return. Stable returns in this ballpark can be unexciting, but if they can be maintained over the long run, they often provide nice rewards to shareholders.
The Bottom Line On Focus Lightings Tech's ROCE
In the end, Focus Lightings Tech has proven its ability to adequately reinvest capital at good rates of return. And since the stock has risen strongly over the last three years, it appears the market might expect this trend to continue. So while investors seem to be recognizing these promising trends, we still believe the stock deserves further research.
Like most companies, Focus Lightings Tech does come with some risks, and we've found 1 warning sign that you should be aware of.
While Focus Lightings Tech 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.
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. With that in mind, the ROCE of Focus Lightings Tech (SZSE:300708) looks decent, right now, so lets see what the trend of returns can tell us.
我们应该寻找哪些早期趋势来识别一只可能在长期内成倍增值的股票?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。简而言之,这些类型的企业是复利机器,这意味着它们不断地以越来越高的回报率对收益进行再投资。考虑到这一点,ROCE聚焦照明技术(SZSE:300708)目前看起来不错,所以让我们看看回报趋势能告诉我们什么。
Understanding Return On Capital Employed (ROCE)
了解资本回报率(ROCE)
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Focus Lightings Tech is:
对于那些不知道的人来说,ROCE是一家公司的年度税前利润(其回报)相对于业务资本的衡量标准。聚焦照明技术的计算公式为:
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)
0.10 = CN¥191m ÷ (CN¥3.0b - CN¥1.2b) (Based on the trailing twelve months to March 2022).
0.10=人民币1.91亿?(人民币30亿元-人民币12亿元)(根据截至2022年3月的往绩12个月计算).
Thus, Focus Lightings Tech has an ROCE of 10%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Semiconductor industry average of 8.6%.
因此,Focus Lightings Tech的净资产收益率为10%。按绝对值计算,这是一个相当正常的回报率,有点接近半导体行业8.6%的平均水平。
See our latest analysis for Focus Lightings Tech
查看我们对焦点照明技术的最新分析
Above you can see how the current ROCE for Focus Lightings Tech 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 Focus Lightings Tech.
上面你可以看到Focus Lightings Tech目前的净资产收益率(ROCE)与其之前的资本回报率相比如何,但你只能从过去知道这么多。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聚焦照明技术报告。
The Trend Of ROCE
ROCE的发展趋势
The trend of ROCE doesn't stand out much, but returns on a whole are decent. Over the past five years, ROCE has remained relatively flat at around 10% and the business has deployed 190% more capital into its operations. Since 10% is a moderate ROCE though, it's good to see a business can continue to reinvest at these decent rates of return. Stable returns in this ballpark can be unexciting, but if they can be maintained over the long run, they often provide nice rewards to shareholders.
ROCE的趋势并不是很突出,但总体来说回报是不错的。在过去的五年中,净资产收益率相对持平,保持在10%左右,该业务在其运营中投入的资本增加了190%。虽然10%是一个中等的净资产收益率,但很高兴看到一家企业能够继续以如此可观的回报率进行再投资。这样的稳定回报可能并不令人兴奋,但如果它们能够长期保持下去,它们往往会为股东提供丰厚的回报。
The Bottom Line On Focus Lightings Tech's ROCE
聚焦照明科技ROCE的底线
In the end, Focus Lightings Tech has proven its ability to adequately reinvest capital at good rates of return. And since the stock has risen strongly over the last three years, it appears the market might expect this trend to continue. So while investors seem to be recognizing these promising trends, we still believe the stock deserves further research.
最终,Focus Lightings Tech证明了自己有能力以良好的回报率进行充分的资本再投资。由于该股在过去三年中强劲上涨,市场似乎预计这一趋势将继续下去。因此,尽管投资者似乎认识到了这些充满希望的趋势,但我们仍然认为,该股值得进一步研究。
Like most companies, Focus Lightings Tech does come with some risks, and we've found 1 warning sign that you should be aware of.
像大多数公司一样,Focus Lightings Tech确实也有一些风险,我们发现1个警告标志这一点你应该知道。
While Focus Lightings Tech isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
虽然焦点照明科技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。
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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