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Here's What's Concerning About Zhejiang Sanhua Intelligent ControlsLtd's (SZSE:002050) Returns On Capital
Here's What's Concerning About Zhejiang Sanhua Intelligent ControlsLtd's (SZSE:002050) Returns On Capital
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount 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. In light of that, when we looked at Zhejiang Sanhua Intelligent ControlsLtd (SZSE:002050) and its ROCE trend, we weren't exactly thrilled.
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. To calculate this metric for Zhejiang Sanhua Intelligent ControlsLtd, this is the formula:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.12 = CN¥2.0b ÷ (CN¥24b - CN¥8.1b) (Based on the trailing twelve months to March 2022).
Therefore, Zhejiang Sanhua Intelligent ControlsLtd has an ROCE of 12%. In absolute terms, that's a satisfactory return, but compared to the Machinery industry average of 7.5% it's much better.
Check out our latest analysis for Zhejiang Sanhua Intelligent ControlsLtd
SZSE:002050 Return on Capital Employed June 21st 2022In the above chart we have measured Zhejiang Sanhua Intelligent ControlsLtd's 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 Zhejiang Sanhua Intelligent ControlsLtd here for free.
The Trend Of ROCE
When we looked at the ROCE trend at Zhejiang Sanhua Intelligent ControlsLtd, we didn't gain much confidence. Over the last five years, returns on capital have decreased to 12% from 18% five years ago. Although, given both revenue and the amount of assets employed in the business have increased, it could suggest the company is investing in growth, and the extra capital has led to a short-term reduction in ROCE. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
The Bottom Line On Zhejiang Sanhua Intelligent ControlsLtd's ROCE
While returns have fallen for Zhejiang Sanhua Intelligent ControlsLtd in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. And long term investors must be optimistic going forward because the stock has returned a huge 173% to shareholders in the last five years. So while investors seem to be recognizing these promising trends, we would look further into this stock to make sure the other metrics justify the positive view.
One final note, you should learn about the 3 warning signs we've spotted with Zhejiang Sanhua Intelligent ControlsLtd (including 1 which is potentially serious) .
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? One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount 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. In light of that, when we looked at Zhejiang Sanhua Intelligent ControlsLtd (SZSE:002050) and its ROCE trend, we weren't exactly thrilled.
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?一种常见的方法是尝试找到一家拥有退货已使用资本(ROCE)正在增加,同时也在增长金额已动用资本的比例。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。有鉴于此,当我们看到浙江三华智能控制有限公司(SZSE:002050)和它的ROCE趋势,我们并不是很兴奋。
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. To calculate this metric for Zhejiang Sanhua Intelligent ControlsLtd, this is the formula:
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。要计算浙江三华智能控制有限公司的这一指标,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)
0.12 = CN¥2.0b ÷ (CN¥24b - CN¥8.1b) (Based on the trailing twelve months to March 2022).
0.12=CN元20亿?(CN元240亿-CN元81亿)(根据截至2022年3月的往绩12个月计算).
Therefore, Zhejiang Sanhua Intelligent ControlsLtd has an ROCE of 12%. In absolute terms, that's a satisfactory return, but compared to the Machinery industry average of 7.5% it's much better.
所以呢,浙江三华智能控制有限公司的净资产收益率为12%。就绝对值而言,这是一个令人满意的回报率,但与机械行业7.5%的平均回报率相比,这要好得多。
Check out our latest analysis for Zhejiang Sanhua Intelligent ControlsLtd
查看我们对浙江三华智能控制有限公司的最新分析
In the above chart we have measured Zhejiang Sanhua Intelligent ControlsLtd's 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 Zhejiang Sanhua Intelligent ControlsLtd here for free.
在上面的图表中,我们衡量了浙江三华智能控制有限公司之前的净资产收益率和之前的业绩,但可以说,未来更重要。如果你愿意,你可以在这里查看浙江三华智能控制有限公司分析师的预测免费的。
The Trend Of ROCE
ROCE的发展趋势
When we looked at the ROCE trend at Zhejiang Sanhua Intelligent ControlsLtd, we didn't gain much confidence. Over the last five years, returns on capital have decreased to 12% from 18% five years ago. Although, given both revenue and the amount of assets employed in the business have increased, it could suggest the company is investing in growth, and the extra capital has led to a short-term reduction in ROCE. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
当我们看着浙江三华智能控制有限公司的ROCE趋势时,我们并没有获得太多信心。过去五年,资本回报率从五年前的18%降至12%。尽管,考虑到收入和业务中使用的资产数量都有所增加,这可能表明该公司正在投资于增长,而额外的资本导致了ROCE的短期下降。如果增加的资本产生额外的回报,从长远来看,企业和股东都将受益。
The Bottom Line On Zhejiang Sanhua Intelligent ControlsLtd's ROCE
浙江三华智能控制有限公司ROCE的底线
While returns have fallen for Zhejiang Sanhua Intelligent ControlsLtd in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. And long term investors must be optimistic going forward because the stock has returned a huge 173% to shareholders in the last five years. So while investors seem to be recognizing these promising trends, we would look further into this stock to make sure the other metrics justify the positive view.
虽然最近浙江三华智能控制有限公司的回报率有所下降,但我们看到销售额在增长,该业务正在对其业务进行再投资,这让我们感到鼓舞。长期投资者必须对未来持乐观态度,因为过去五年,该股向股东回报高达173%。因此,尽管投资者似乎正在认识到这些充满希望的趋势,但我们会进一步研究这只股票,以确保其他指标证明这种积极观点是合理的。
One final note, you should learn about the 3 warning signs we've spotted with Zhejiang Sanhua Intelligent ControlsLtd (including 1 which is potentially serious) .
最后一个注意事项,您应该了解3个警示标志我们已经发现了浙江三华智能控制有限公司(包括1个潜在的严重问题)。
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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