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COSCO SHIPPING Development (HKG:2866) Is Looking To Continue Growing Its Returns On Capital
COSCO SHIPPING Development (HKG:2866) Is Looking To Continue Growing Its Returns On Capital
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing 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 on that note, COSCO SHIPPING Development (HKG:2866) looks quite promising in regards to its trends of return on capital.
What Is Return On Capital Employed (ROCE)?
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for COSCO SHIPPING Development:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.12 = CN¥9.8b ÷ (CN¥132b - CN¥53b) (Based on the trailing twelve months to March 2022).
Therefore, COSCO SHIPPING Development has an ROCE of 12%. On its own, that's a standard return, however it's much better than the 3.8% generated by the Trade Distributors industry.
Check out our latest analysis for COSCO SHIPPING Development
SEHK:2866 Return on Capital Employed August 22nd 2022Historical performance is a great place to start when researching a stock so above you can see the gauge for COSCO SHIPPING Development's ROCE against it's prior returns. If you're interested in investigating COSCO SHIPPING Development's past further, check out this free graph of past earnings, revenue and cash flow.
What Does the ROCE Trend For COSCO SHIPPING Development Tell Us?
COSCO SHIPPING Development's ROCE growth is quite impressive. Looking at the data, we can see that even though capital employed in the business has remained relatively flat, the ROCE generated has risen by 486% over the last five years. Basically the business is generating higher returns from the same amount of capital and that is proof that there are improvements in the company's efficiencies. It's worth looking deeper into this though because while it's great that the business is more efficient, it might also mean that going forward the areas to invest internally for the organic growth are lacking.
On a side note, COSCO SHIPPING Development's current liabilities are still rather high at 41% of total assets. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
In Conclusion...
In summary, we're delighted to see that COSCO SHIPPING Development has been able to increase efficiencies and earn higher rates of return on the same amount of capital. And given the stock has remained rather flat over the last five years, there might be an opportunity here if other metrics are strong. That being the case, research into the company's current valuation metrics and future prospects seems fitting.
On a separate note, we've found 3 warning signs for COSCO SHIPPING Development you'll probably want to know about.
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high 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?首先,我们想要确定一个不断增长的退货在已使用资本(ROCE)上,然后在此基础上,不断增加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。所以在这个音符上,中远航运发展(HKG:2866)的资本回报率趋势看好。
什么是资本回报率(ROCE)?
如果您不确定,只需澄清一下,ROCE是一种评估公司投资于其业务的资本获得多少税前收入(按百分比计算)的指标。分析师使用以下公式来计算中远航运发展:
已动用资本回报率=息税前收益(EBIT)?(总资产-流动负债)
0.12=CN元98亿?(CN元132B-CN元53B)(根据截至2022年3月的往绩12个月计算).
所以呢,中远航运发展的净资产收益率为12%。就其本身而言,这是一个标准回报率,但它比贸易分销商行业3.8%的回报率要好得多。
查看我们对中远航运发展的最新分析
联交所:2866已动用资本回报率2022年8月22日在研究一只股票时,历史表现是一个很好的起点,因为在历史表现上方,你可以看到中远航运发展相对于其先前回报的净资产收益率。如果您有兴趣进一步调查中远航运发展的过去,请查看以下内容免费过去收益、收入和现金流的图表。
中远航运发展的ROCE趋势告诉我们什么?
中远航运发展的ROCE增长令人印象深刻。纵观数据,我们可以看到,尽管企业的资本投入相对持平,但过去五年产生的ROCE增长了486%。基本上,这项业务从相同数额的资本中产生了更高的回报,这证明了公司的效率有所提高。然而,值得更深入地研究这一点,因为虽然业务效率更高是好事,但这也可能意味着,未来缺乏内部投资以实现有机增长的领域。
另外,中远航运发展的流动负债仍相当高,占总资产的41%。这可能会带来一些风险,因为该公司基本上是在相当大程度上依赖其供应商或其他类型的短期债权人运营的。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。
总之..。
总而言之,我们很高兴看到中远航运发展能够提高效率,并在相同的资本基础上获得更高的回报率。考虑到该股在过去五年中一直相当持平,如果其他指标表现强劲,可能会有机会。在这种情况下,对该公司目前的估值指标和未来前景的研究似乎是合适的。
另外,我们发现中远航运发展的三个警示你可能会想知道。
对于那些喜欢投资于稳固的公司,看看这个免费资产负债表稳健、股本回报率高的公司名单。
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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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。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
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。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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