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Returns On Capital Are Showing Encouraging Signs At China Harmony Auto Holding (HKG:3836)
Returns On Capital Are Showing Encouraging Signs At China Harmony Auto Holding (HKG:3836)
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. With that in mind, we've noticed some promising trends at China Harmony Auto Holding (HKG:3836) so let's look a bit deeper.
Return On Capital Employed (ROCE): What is it?
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. Analysts use this formula to calculate it for China Harmony Auto Holding:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.12 = CN¥1.1b ÷ (CN¥13b - CN¥4.4b) (Based on the trailing twelve months to December 2021).
So, China Harmony Auto Holding has an ROCE of 12%. By itself that's a normal return on capital and it's in line with the industry's average returns of 12%.
See our latest analysis for China Harmony Auto Holding
SEHK:3836 Return on Capital Employed June 23rd 2022In the above chart we have measured China Harmony Auto Holding'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 China Harmony Auto Holding here for free.
What Can We Tell From China Harmony Auto Holding's ROCE Trend?
China Harmony Auto Holding is displaying some positive trends. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 12%. Basically the business is earning more per dollar of capital invested and in addition to that, 60% more capital is being employed now too. So we're very much inspired by what we're seeing at China Harmony Auto Holding thanks to its ability to profitably reinvest capital.
The Bottom Line
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what China Harmony Auto Holding has. Since the total return from the stock has been almost flat over the last five years, there might be an opportunity here if the valuation looks good. With that in mind, we believe the promising trends warrant this stock for further investigation.
If you want to continue researching China Harmony Auto Holding, you might be interested to know about the 2 warning signs that our analysis has discovered.
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.
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. With that in mind, we've noticed some promising trends at China Harmony Auto Holding (HKG:3836) so let's look a bit deeper.
找到一家具有大幅增长潜力的企业并非易事,但如果我们看看几个关键的财务指标,这是可能的。在其他方面,我们希望看到两件事;第一,不断增长的退货一是关于已用资本(ROCE),二是公司的金额已动用资本的比例。基本上,这意味着一家公司有盈利的举措,可以继续进行再投资,这是复合机器的一个特点。考虑到这一点,我们在以下方面注意到一些有希望的趋势华夏和谐汽车控股(HKG:3836)所以让我们看得更深一点。
Return On Capital Employed (ROCE): What is it?
资本回报率(ROCE):它是什么?
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. Analysts use this formula to calculate it for China Harmony Auto Holding:
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。分析师们用以下公式计算中国和谐汽车控股有限公司的股价:
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¥1.1b ÷ (CN¥13b - CN¥4.4b) (Based on the trailing twelve months to December 2021).
0.12=CN元11亿?(CN元130亿-CN元44亿)(根据截至2021年12月的往绩12个月计算).
So, China Harmony Auto Holding has an ROCE of 12%. By itself that's a normal return on capital and it's in line with the industry's average returns of 12%.
所以,华夏和谐汽车控股的净资产收益率为12%。这本身就是正常的资本回报率,与该行业12%的平均回报率一致。
See our latest analysis for China Harmony Auto Holding
查看我们对华夏和谐汽车控股的最新分析
In the above chart we have measured China Harmony Auto Holding'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 China Harmony Auto Holding here for free.
在上面的图表中,我们衡量了华夏和谐汽车控股之前的净资产收益率与其之前的表现,但可以说,未来更重要。如果你愿意,你可以在这里查看中国和谐汽车控股分析师的预测免费的。
What Can We Tell From China Harmony Auto Holding's ROCE Trend?
从中国和谐汽车控股的ROCE趋势中,我们能看出什么?
China Harmony Auto Holding is displaying some positive trends. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 12%. Basically the business is earning more per dollar of capital invested and in addition to that, 60% more capital is being employed now too. So we're very much inspired by what we're seeing at China Harmony Auto Holding thanks to its ability to profitably reinvest capital.
中国和谐汽车控股公司正在显示出一些积极的趋势。这些数字显示,在过去五年中,资本回报率大幅增长至12%。基本上,企业每投入一美元资本就能赚到更多的钱,除此之外,现在投入的资本也增加了60%。因此,我们对中国和谐汽车控股公司的情况非常感兴趣,因为它有能力进行有利可图的资本再投资。
The Bottom Line
底线
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what China Harmony Auto Holding has. Since the total return from the stock has been almost flat over the last five years, there might be an opportunity here if the valuation looks good. With that in mind, we believe the promising trends warrant this stock for further investigation.
一家资本回报率不断增长、能够持续对自身进行再投资的公司是一个备受追捧的特征,而这正是华夏和谐汽车控股所拥有的。由于该股的总回报率在过去五年里几乎持平,如果估值看起来不错,这里可能会有机会。考虑到这一点,我们认为前景看好的趋势需要对这只股票进行进一步的调查。
If you want to continue researching China Harmony Auto Holding, you might be interested to know about the 2 warning signs that our analysis has discovered.
如果你想继续研究中国和谐汽车控股公司,你可能会有兴趣了解2个警告标志我们的分析发现。
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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