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CSSC Science& Technology (SHSE:600072) Might Have The Makings Of A Multi-Bagger
CSSC Science& Technology (SHSE:600072) Might Have The Makings Of A Multi-Bagger
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. So when we looked at CSSC Science& Technology (SHSE:600072) 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 CSSC Science& Technology is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.0086 = CN¥40m ÷ (CN¥8.0b - CN¥3.4b) (Based on the trailing twelve months to March 2022).
Therefore, CSSC Science& Technology has an ROCE of 0.9%. In absolute terms, that's a low return and it also under-performs the Construction industry average of 7.3%.
See our latest analysis for CSSC Science& Technology
SHSE:600072 Return on Capital Employed August 18th 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 CSSC Science& Technology, check out these free graphs here.
So How Is CSSC Science& Technology's ROCE Trending?
It's great to see that CSSC Science& Technology has started to generate some pre-tax earnings from prior investments. Historically the company was generating losses but as we can see from the latest figures referenced above, they're now earning 0.9% on their capital employed. In regards to capital employed, CSSC Science& Technology is using 30% less capital than it was five years ago, which on the surface, can indicate that the business has become more efficient at generating these returns. The reduction could indicate that the company is selling some assets, and considering returns are up, they appear to be selling the right ones.
On a side note, CSSC Science& Technology's current liabilities are still rather high at 42% of total assets. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
The Key Takeaway
From what we've seen above, CSSC Science& Technology has managed to increase it's returns on capital all the while reducing it's capital base. And since the stock has fallen 26% over the last five years, there might be an opportunity here. With that in mind, we believe the promising trends warrant this stock for further investigation.
On a separate note, we've found 2 warning signs for CSSC Science& Technology you'll probably want to know about.
While CSSC Science& 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.
你知道吗,有一些财务指标可以提供潜在的多管齐下的线索?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。这向我们表明,它是一台复合机器,能够不断地将其收益再投资于企业,并产生更高的回报。所以当我们看着中科院科技(上海证券交易所:600072)和它的ROCE趋势,我们真的很喜欢我们看到的。
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。CSSC Science&Technology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)
0.0086=4000万加元?(80亿加元-34亿加元)(根据截至2022年3月的往绩12个月计算).
所以呢,中证金科技的净资产收益率为0.9%。按绝对值计算,这是一个较低的回报率,也低于7.3%的建筑业平均水平。
查看我们对CSSC科技的最新分析
上证所:2022年8月18日资本回报率600072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CSSC科技公司的历史收益、收入和现金流,请查看以下内容免费图表在这里。
那么,CSSC科技公司的ROCE趋势如何?
很高兴看到CSSC科技已经开始从以前的投资中产生一些税前收益。从历史上看,这家公司一直在亏损,但正如我们从上面提到的最新数据中看到的那样,他们现在的资本回报率为0.9%。在使用资本方面,CSSC科技使用的资本比五年前减少了30%,从表面上看,这表明企业在产生这些回报方面变得更有效率了。减持可能表明该公司正在出售一些资产,考虑到回报率的上升,他们似乎出售了正确的资产。
另外,中证金科技的流动负债仍相当高,占总资产的42%。这实际上意味着供应商(或短期债权人)正在为很大一部分业务提供资金,因此只需意识到这可能会带来一些风险因素。理想情况下,我们希望看到这一比例降低,因为这将意味着承担风险的债务更少。
关键的外卖
从上面我们可以看到,中证金科技在降低资本基础的同时,也成功地提高了资本回报率。鉴于该公司股价在过去五年中下跌了26%,这里可能存在机会。考虑到这一点,我们认为前景看好的趋势需要对这只股票进行进一步的调查。
另外,我们发现CSSC科技的2个警示标志你可能会想知道。
尽管CSSC Science&Technology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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