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There Are Reasons To Feel Uneasy About C-Link Squared's (HKG:1463) Returns On Capital
There Are Reasons To Feel Uneasy About C-Link Squared's (HKG:1463) Returns On Capital
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. In light of that, when we looked at C-Link Squared (HKG:1463) and its ROCE trend, we weren't exactly thrilled.
Understanding 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. Analysts use this formula to calculate it for C-Link Squared:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.088 = RM8.6m ÷ (RM117m - RM19m) (Based on the trailing twelve months to December 2021).
Therefore, C-Link Squared has an ROCE of 8.8%. On its own that's a low return, but compared to the average of 7.1% generated by the IT industry, it's much better.
View our latest analysis for C-Link Squared
SEHK:1463 Return on Capital Employed June 24th 2022While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you want to delve into the historical earnings, revenue and cash flow of C-Link Squared, check out these free graphs here.
The Trend Of ROCE
In terms of C-Link Squared's historical ROCE movements, the trend isn't fantastic. Around five years ago the returns on capital were 28%, but since then they've fallen to 8.8%. 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. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
The Bottom Line
Even though returns on capital have fallen in the short term, we find it promising that revenue and capital employed have both increased for C-Link Squared. These growth trends haven't led to growth returns though, since the stock has fallen 23% over the last year. So we think it'd be worthwhile to look further into this stock given the trends look encouraging.
Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 3 warning signs for C-Link Squared (of which 1 is a bit concerning!) that you should know about.
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.
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. In light of that, when we looked at C-Link Squared (HKG:1463) and its ROCE trend, we weren't exactly thrilled.
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?通常,我们会注意到一种增长的趋势退货关于已使用资本(ROCE)以及与之相伴随的是不断扩大的基地已动用资本的比例。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。有鉴于此,当我们看到C形链节正方形(HKG:1463)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)
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. Analysts use this formula to calculate it for C-Link Squared:
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。分析师使用以下公式来计算C-Link Squared:
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)
0.088 = RM8.6m ÷ (RM117m - RM19m) (Based on the trailing twelve months to December 2021).
0.088=马币8.6M?(马币117M-马币19M)(根据截至2021年12月的往绩12个月计算).
Therefore, C-Link Squared has an ROCE of 8.8%. On its own that's a low return, but compared to the average of 7.1% generated by the IT industry, it's much better.
所以呢,C-Link Squared的净资产收益率为8.8%。就其本身而言,这是一个很低的回报率,但与IT行业7.1%的平均回报率相比,这要好得多。
View our latest analysis for C-Link Squared
查看我们对C-Link Squared的最新分析
While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you want to delve into the historical earnings, revenue and cash flow of C-Link Squared, check out these free graphs here.
虽然过去并不代表未来,但了解一家公司历史上的表现是有帮助的,这就是为什么我们有上面的图表。如果你想深入研究C-Link Squared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。
The Trend Of ROCE
ROCE的发展趋势
In terms of C-Link Squared's historical ROCE movements, the trend isn't fantastic. Around five years ago the returns on capital were 28%, but since then they've fallen to 8.8%. 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. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
就C-Link Squared的历史ROCE运动而言,这一趋势并不美妙。大约五年前,资本回报率为28%,但自那以来已降至8.8%。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
底线
Even though returns on capital have fallen in the short term, we find it promising that revenue and capital employed have both increased for C-Link Squared. These growth trends haven't led to growth returns though, since the stock has fallen 23% over the last year. So we think it'd be worthwhile to look further into this stock given the trends look encouraging.
尽管资本回报率在短期内有所下降,但我们发现,C-Link Squared的收入和使用的资本都有所增加,这是有希望的。不过,这些增长趋势并没有带来增长回报,因为该公司股价在过去一年里下跌了23%。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。
Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 3 warning signs for C-Link Squared (of which 1 is a bit concerning!) that you should know about.
由于几乎每家公司都面临一些风险,了解它们是什么是值得的,我们已经发现C-Link正方形的3个警告标志(其中1个有点令人担忧!)这是你应该知道的。
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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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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