If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. However, after investigating Qingdao Port International (HKG:6198), we don't think it's current trends fit the mold of a multi-bagger.
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 Qingdao Port International is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.088 = CN¥4.0b ÷ (CN¥61b - CN¥15b) (Based on the trailing twelve months to March 2022).
So, Qingdao Port International has an ROCE of 8.8%. In absolute terms, that's a low return, but it's much better than the Infrastructure industry average of 5.7%.
See our latest analysis for Qingdao Port International
SEHK:6198 Return on Capital Employed August 17th 2022
In the above chart we have measured Qingdao Port International's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.
The Trend Of ROCE
In terms of Qingdao Port International's historical ROCE trend, it doesn't exactly demand attention. The company has employed 57% more capital in the last five years, and the returns on that capital have remained stable at 8.8%. This poor ROCE doesn't inspire confidence right now, and with the increase in capital employed, it's evident that the business isn't deploying the funds into high return investments.
In Conclusion...
In summary, Qingdao Port International has simply been reinvesting capital and generating the same low rate of return as before. And with the stock having returned a mere 7.2% in the last five years to shareholders, you could argue that they're aware of these lackluster trends. Therefore, if you're looking for a multi-bagger, we'd propose looking at other options.
On a separate note, we've found 1 warning sign for Qingdao Port International you'll probably want to know about.
While Qingdao Port International isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
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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。在其他方面,我们希望看到两件事;第一,不断增长的退货一是关于已用资本(ROCE),二是公司的金额已动用资本的比例。简而言之,这些类型的企业是复利机器,这意味着它们不断地以越来越高的回报率对收益进行再投资。不过,经过调查,青岛港国际(HKG:6198),我们认为目前的趋势不符合多袋子模式。
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。青岛港国际的这一计算公式为:
已动用资本回报率=息税前收益(EBIT)?(总资产-流动负债)
0.088=CN元40亿?(CN元61B-CN元150B)(根据截至2022年3月的往绩12个月计算).
所以,青岛港国际的净资产收益率为8.8%。从绝对值来看,这是一个较低的回报率,但远好于基础设施行业5.7%的平均水平。
查看我们对青岛港国际的最新分析
联交所:6198已动用资本回报率2022年8月17日
在上面的图表中,我们比较了青岛港国际之前的净资产收益率与其之前的表现,但可以说,未来更重要。如果您感兴趣,您可以在我们的免费分析师对该公司的预测报告。
ROCE的发展趋势
就青岛港国际的历史ROCE趋势而言,它并不完全需要关注。该公司在过去五年中增聘了57%的资本,这些资本的回报率一直稳定在8.8%。这种糟糕的ROCE目前并没有激发人们的信心,而且随着所用资本的增加,很明显,该公司没有将资金用于高回报投资。
总之..。
总而言之,青岛港国际只是在对资本进行再投资,产生的回报率与以前一样低。过去五年,该股对股东的回报率仅为7.2%,你可以说他们意识到了这些乏善可陈的趋势。因此,如果您正在寻找一个多袋子,我们建议寻找其他选择。
另外,我们发现1个青岛港国际警示标志你可能会想知道。
尽管青岛港国际并没有获得最高的回报,但看看这个免费资产负债表稳健、股本回报率高的公司名单。
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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。