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Anhui Truchum Advanced Materials and Technology (SZSE:002171) Could Be Struggling To Allocate Capital
Anhui Truchum Advanced Materials and Technology (SZSE:002171) Could Be Struggling To Allocate Capital
What are the early trends we should look for to identify a stock that could multiply in value over the long term? 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. In light of that, when we looked at Anhui Truchum Advanced Materials and Technology (SZSE:002171) and its ROCE trend, we weren't exactly thrilled.
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 Anhui Truchum Advanced Materials and Technology is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.07 = CN¥619m ÷ (CN¥14b - CN¥5.3b) (Based on the trailing twelve months to March 2022).
So, Anhui Truchum Advanced Materials and Technology has an ROCE of 7.0%. Ultimately, that's a low return and it under-performs the Metals and Mining industry average of 9.8%.
See our latest analysis for Anhui Truchum Advanced Materials and Technology
SZSE:002171 Return on Capital Employed August 11th 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 Anhui Truchum Advanced Materials and Technology, check out these free graphs here.
So How Is Anhui Truchum Advanced Materials and Technology's ROCE Trending?
On the surface, the trend of ROCE at Anhui Truchum Advanced Materials and Technology doesn't inspire confidence. Over the last five years, returns on capital have decreased to 7.0% from 9.1% 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. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
While on the subject, we noticed that the ratio of current liabilities to total assets has risen to 38%, which has impacted the ROCE. Without this increase, it's likely that ROCE would be even lower than 7.0%. While the ratio isn't currently too high, it's worth keeping an eye on this because if it gets particularly high, the business could then face some new elements of risk.
In Conclusion...
While returns have fallen for Anhui Truchum Advanced Materials and Technology in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. In light of this, the stock has only gained 40% over the last five years. So this stock may still be an appealing investment opportunity, if other fundamentals prove to be sound.
Anhui Truchum Advanced Materials and Technology does have some risks, we noticed 3 warning signs (and 1 which is a bit concerning) we think you should know about.
While Anhui Truchum Advanced Materials and Technology 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.
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.
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?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。有鉴于此,当我们看到安徽Truchum先进材料与技术(SZSE:002171)和它的ROCE趋势,我们并不是很兴奋。
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)。对安徽Truchum先进材料和技术的计算公式为:
已动用资本回报率=息税前收益(EBIT)?(总资产-流动负债)
0.07=CN元6.19亿?(CN元14B-CN元53亿)(根据截至2022年3月的往绩12个月计算).
所以,安徽Truchum先进材料科技的ROCE为7.0%。归根结底,这是一个较低的回报率,表现低于金属和矿业9.8%的平均水平。
查看我们对安徽Truchum先进材料和技术的最新分析
深圳证交所:2022年8月11日资本回报率002171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。如果你想深入研究安徽Truchum先进材料和技术公司的历史收益、收入和现金流,请查看以下内容免费图表在这里。
那么,安徽Truchum先进材料和技术公司的ROCE趋势如何?
从表面上看,安徽Truchum先进材料技术公司ROCE的走势并没有鼓舞信心。过去五年,资本回报率从五年前的9.1%降至7.0%。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。
在这个问题上,我们注意到流动负债占总资产的比例上升到38%,这对ROCE造成了影响。如果没有这一增长,净资产收益率很可能甚至会低于7.0%。虽然目前这一比率不是太高,但值得密切关注,因为如果比率变得特别高,业务可能会面临一些新的风险因素。
总之..。
虽然最近安徽Truchum先进材料和技术公司的回报率有所下降,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。有鉴于此,该股在过去五年中仅上涨了40%。因此,如果其他基本面被证明是健康的,这只股票可能仍然是一个有吸引力的投资机会。
我们注意到,安徽Truchum先进材料和技术确实存在一些风险3个警示标志(还有一点令人担忧)我们认为你应该知道。
虽然安徽Truchum先进材料和技术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。
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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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。
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