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Investors Will Want China Coal Energy's (HKG:1898) Growth In ROCE To Persist
Investors Will Want China Coal Energy's (HKG:1898) Growth In ROCE To Persist
To find a multi-bagger stock, what are the underlying trends we should look for in a business? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. So when we looked at China Coal Energy (HKG:1898) and its trend of ROCE, we really liked what we saw.
Understanding Return On Capital Employed (ROCE)
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. The formula for this calculation on China Coal Energy is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.14 = CN¥35b ÷ (CN¥338b - CN¥98b) (Based on the trailing twelve months to March 2022).
So, China Coal Energy has an ROCE of 14%. On its own, that's a standard return, however it's much better than the 9.1% generated by the Oil and Gas industry.
View our latest analysis for China Coal Energy
SEHK:1898 Return on Capital Employed July 26th 2022Above you can see how the current ROCE for China Coal Energy 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 China Coal Energy.
How Are Returns Trending?
We like the trends that we're seeing from China Coal Energy. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 14%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 31%. So we're very much inspired by what we're seeing at China Coal Energy thanks to its ability to profitably reinvest capital.
Our Take On China Coal Energy's ROCE
In summary, it's great to see that China Coal Energy can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. And investors seem to expect more of this going forward, since the stock has rewarded shareholders with a 95% return over the last five years. Therefore, we think it would be worth your time to check if these trends are going to continue.
One more thing: We've identified 2 warning signs with China Coal Energy (at least 1 which is significant) , and understanding these would certainly be useful.
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive 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.
要找到一只多袋股票,我们应该在一家企业中寻找什么潜在趋势?在一个完美的世界里,我们希望看到一家公司向其业务投入更多资本,理想情况下,从这些资本中赚取的回报也在增加。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。所以当我们看着中煤能源(HKG:1898)及其ROCE趋势,我们真的很喜欢我们所看到的。
了解资本回报率(ROCE)
对于那些不确定ROCE是什么的人,它衡量的是一家公司可以从其业务中使用的资本产生的税前利润。中煤能源的这一计算公式是:
已动用资本回报率=息税前收益(EBIT)?(总资产-流动负债)
0.14=CN元350亿?(CN元338B-CN元98B)(根据截至2022年3月的往绩12个月计算).
所以,中煤能源的净资产收益率为14%。就其本身而言,这是一个标准回报率,但它比石油和天然气行业9.1%的回报率要好得多。
查看我们对中煤能源的最新分析
联交所:1898年7月26日资本回报率上面你可以看到中煤能源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中煤能源报道。
回报趋势如何?
我们喜欢从中煤能源身上看到的趋势。数据显示,在过去五年中,资本回报率大幅增长至14%。该公司实际上每使用一美元资本就能赚到更多的钱,值得注意的是,资本额也增加了31%。因此,我们非常受到中煤能源的启发,这要归功于它有能力进行有利可图的资本再投资。
我们对中煤能源的ROCE的看法
总而言之,很高兴看到中煤能源能够通过持续不断地以不断提高的回报率进行资本再投资来实现复合回报,因为这些都是那些备受追捧的多重投资的关键因素。投资者似乎预计未来会出现更多这样的情况,因为过去五年,该股为股东带来了95%的回报。因此,我们认为值得您花时间检查这些趋势是否会继续下去。
还有一件事:我们已经确定了2个警告标志与中煤能源(至少1,这是重要的),并了解这些肯定是有用的。
如果你想寻找收入丰厚的可靠公司,看看这个免费拥有良好资产负债表和可观股本回报率的公司名单。
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。
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