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Investors Could Be Concerned With Binjiang Service Group's (HKG:3316) Returns On Capital
Investors Could Be Concerned With Binjiang Service Group's (HKG:3316) Returns On Capital
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base 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. Looking at Binjiang Service Group (HKG:3316), it does have a high ROCE right now, but lets see how returns are trending.
Return On Capital Employed (ROCE): What is it?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Binjiang Service Group is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.40 = CN¥389m ÷ (CN¥1.7b - CN¥711m) (Based on the trailing twelve months to December 2021).
Thus, Binjiang Service Group has an ROCE of 40%. In absolute terms that's a great return and it's even better than the Commercial Services industry average of 8.0%.
View our latest analysis for Binjiang Service Group
SEHK:3316 Return on Capital Employed July 18th 2022Above you can see how the current ROCE for Binjiang Service Group 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 Binjiang Service Group.
How Are Returns Trending?
In terms of Binjiang Service Group's historical ROCE movements, the trend isn't fantastic. To be more specific, while the ROCE is still high, it's fallen from 53% where it was five years ago. 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. If these investments prove successful, this can bode very well for long term stock performance.
On a related note, Binjiang Service Group has decreased its current liabilities to 42% of total assets. So we could link some of this to the decrease in ROCE. Effectively this means their suppliers or short-term creditors are funding less of the business, which reduces some elements of risk. Some would claim this reduces the business' efficiency at generating ROCE since it is now funding more of the operations with its own money. Either way, they're still at a pretty high level, so we'd like to see them fall further if possible.
The Key Takeaway
While returns have fallen for Binjiang Service Group 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 231% to shareholders in the last three years. So while the underlying trends could already be accounted for by investors, we still think this stock is worth looking into further.
On a separate note, we've found 1 warning sign for Binjiang Service Group you'll probably want to know about.
If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.
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.
如果我们想要找到一只可以长期成倍增长的股票,我们应该寻找什么潜在趋势?首先,我们希望看到一个经过验证的退货关于已使用资本(ROCE)的增长,其次是扩张基地已动用资本的比例。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。看着滨江服务集团(HKG:3316),它目前的净资产收益率确实很高,但让我们看看回报趋势如何。
资本回报率(ROCE):它是什么?
如果你以前没有使用过ROCE,它衡量的是一家公司从业务资本中获得的“回报”(税前利润)。滨江服务集团的这一计算公式为:
已动用资本回报率=息税前收益(EBIT)?(总资产-流动负债)
0.40元=3.89亿元?(17亿元-7.11亿元)(根据截至2021年12月的往绩12个月计算).
因此,滨江服务集团的净资产收益率为40%。按绝对值计算,这是一个很高的回报率,甚至比商业服务业8.0%的平均回报率还要高。
查看我们对滨江服务集团的最新分析
联交所:3316 2022年7月18日资本回报率上面你可以看到滨江服务集团目前的净资产收益率与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为滨江服务集团报到。
回报趋势如何?
就滨江服务集团历史上的ROCE运动而言,趋势并不美妙。更具体地说,虽然ROCE仍然很高,但已经从五年前的53%下降了。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。如果这些投资被证明是成功的,这可能是长期股票表现的好兆头。
与此相关的是,滨江服务集团已将其流动负债降至总资产的42%。因此,我们可以将其中一些因素与净资产收益率的下降联系起来。实际上,这意味着它们的供应商或短期债权人减少了对业务的融资,这降低了一些风险因素。一些人会说,这降低了企业产生净资产收益率的效率,因为它现在用自己的钱为更多的运营提供资金。无论如何,它们仍处于相当高的水平,所以如果可能的话,我们希望看到它们进一步下跌。
关键的外卖
虽然滨江服务集团最近的回报率有所下降,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,因为过去三年,该股向股东回报高达231%。因此,虽然潜在的趋势可能已经被投资者所解释,但我们仍然认为这只股票值得进一步研究。
另外,我们发现滨江服务集团1个警示标志你可能会想知道。
如果您想看到其他公司获得高回报,请查看我们的免费这里列出了资产负债表稳健、获得高回报的公司。
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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