If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. However, after briefly looking over the numbers, we don't think Vinda International Holdings (HKG:3331) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
Understanding Return On Capital Employed (ROCE)
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Vinda International Holdings, this is the formula:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.098 = HK$1.6b ÷ (HK$23b - HK$7.0b) (Based on the trailing twelve months to June 2022).
Thus, Vinda International Holdings has an ROCE of 9.8%. On its own, that's a low figure but it's around the 8.6% average generated by the Household Products industry.
View our latest analysis for Vinda International Holdings
SEHK:3331 Return on Capital Employed July 29th 2022
In the above chart we have measured Vinda International Holdings' prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Vinda International Holdings.
How Are Returns Trending?
The returns on capital haven't changed much for Vinda International Holdings in recent years. The company has consistently earned 9.8% for the last five years, and the capital employed within the business has risen 27% in that time. Given the company has increased the amount of capital employed, it appears the investments that have been made simply don't provide a high return on capital.
In Conclusion...
In summary, Vinda International Holdings has simply been reinvesting capital and generating the same low rate of return as before. Although the market must be expecting these trends to improve because the stock has gained 50% over the last five years. Ultimately, if the underlying trends persist, we wouldn't hold our breath on it being a multi-bagger going forward.
Vinda International Holdings does have some risks though, and we've spotted 1 warning sign for Vinda International Holdings that you might be interested in.
While Vinda International Holdings may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
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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.
如果你正在寻找一个多袋子,有几个东西需要注意。理想情况下,一家企业将呈现两种趋势;第一,增长退货关于已使用资本(ROCE),第二,增加金额已动用资本的比例。如果你看到这个,通常意味着它是一家拥有出色商业模式和大量有利可图的再投资机会的公司。然而,在简单地看了一下数字之后,我们认为维达国际控股有限公司(HKG:3331)具备了未来实现多个袋子的条件,但让我们看看为什么会这样。
了解资本回报率(ROCE)
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)。要计算维达国际控股的这一指标,公式如下:
已动用资本回报率=息税前收益(EBIT)?(总资产-流动负债)
0.098=港币16亿?(港币230亿-70亿)(根据截至2022年6月的往绩12个月计算).
因此,维达国际控股的净资产收益率为9.8%。就其本身而言,这是一个较低的数字,但大约是家居用品行业8.6%的平均增长率。
查看我们对维达国际控股的最新分析
联交所:3331 2022年7月29日资本回报率
在上面的图表中,我们衡量了维达国际控股公司之前的净资产收益率和之前的表现,但可以说,未来更重要。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维达国际控股公司的报道。
回报趋势如何?
近年来,维达国际控股公司的资本回报率变化不大。过去五年,该公司持续盈利9.8%,同期公司内部资本增加了27%。鉴于该公司增加了已动用资本的数量,这些投资似乎根本不能带来高的资本回报。
总之..。
总而言之,维达国际控股只是在对资本进行再投资,并产生与以前一样的低回报率。尽管市场肯定预计这些趋势会改善,因为该股在过去五年中上涨了50%。归根结底,如果潜在的趋势持续下去,我们不会屏息于它是一个多袋子未来。
不过,维达国际控股确实存在一些风险,我们已经发现维达国际控股的1个警告标志你可能会感兴趣的。
虽然维达国际控股公司目前的回报率可能不是最高的,但我们已经编制了一份目前股本回报率超过25%的公司名单。看看这个免费在这里列出。
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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。