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Guangdong Champion Asia ElectronicsLtd (SHSE:603386) Will Be Hoping To Turn Its Returns On Capital Around
Guangdong Champion Asia ElectronicsLtd (SHSE:603386) Will Be Hoping To Turn Its Returns On Capital Around
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 Guangdong Champion Asia ElectronicsLtd (SHSE:603386), we don't think it's current trends fit the mold of a multi-bagger.
Return On Capital Employed (ROCE): What Is It?
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. To calculate this metric for Guangdong Champion Asia ElectronicsLtd, this is the formula:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.089 = CN¥156m ÷ (CN¥3.4b - CN¥1.7b) (Based on the trailing twelve months to June 2022).
Thus, Guangdong Champion Asia ElectronicsLtd has an ROCE of 8.9%. In absolute terms, that's a low return but it's around the Electronic industry average of 7.9%.
View our latest analysis for Guangdong Champion Asia ElectronicsLtd
SHSE:603386 Return on Capital Employed August 26th 2022Historical performance is a great place to start when researching a stock so above you can see the gauge for Guangdong Champion Asia ElectronicsLtd's ROCE against it's prior returns. If you're interested in investigating Guangdong Champion Asia ElectronicsLtd's past further, check out this free graph of past earnings, revenue and cash flow.
What Can We Tell From Guangdong Champion Asia ElectronicsLtd's ROCE Trend?
The trend of ROCE doesn't look fantastic because it's fallen from 14% five years ago, while the business's capital employed increased by 242%. Usually this isn't ideal, but given Guangdong Champion Asia ElectronicsLtd conducted a capital raising before their most recent earnings announcement, that would've likely contributed, at least partially, to the increased capital employed figure. It's unlikely that all of the funds raised have been put to work yet, so as a consequence Guangdong Champion Asia ElectronicsLtd might not have received a full period of earnings contribution from it.
On a side note, Guangdong Champion Asia ElectronicsLtd's current liabilities are still rather high at 49% 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...
Even though returns on capital have fallen in the short term, we find it promising that revenue and capital employed have both increased for Guangdong Champion Asia ElectronicsLtd. These trends are starting to be recognized by investors since the stock has delivered a 11% gain to shareholders who've held over the last three years. Therefore we'd recommend looking further into this stock to confirm if it has the makings of a good investment.
One more thing, we've spotted 3 warning signs facing Guangdong Champion Asia ElectronicsLtd that you might find interesting.
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.
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,广东冠亚电子有限公司(上海证券交易所:603386),我们认为目前的趋势不符合多袋子模式。
资本回报率(ROCE):它是什么?
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。要计算广东冠军亚洲电子有限公司的这一指标,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)
0.089=1.56亿元?(34亿元-17亿元)(根据截至2022年6月的往绩12个月计算).
因此,广东冠军亚洲电子有限公司的净资产收益率为8.9%。按绝对值计算,这是一个较低的回报率,但约为电子行业7.9%的平均水平。
查看我们对广东冠军亚洲电子有限公司的最新分析
上证综指:2022年8月26日资本回报率603386在研究一只股票时,历史表现是一个很好的起点,因为在历史表现之上,你可以看到广东冠军亚洲电子有限公司的ROCE相对于其先前回报的衡量标准。如果您有兴趣进一步调查广东冠军亚洲电子有限公司的过去,请查看以下内容免费过去收益、收入和现金流的图表。
从广东冠军亚洲电子有限公司的ROCE趋势中,我们可以看出什么?
ROCE的趋势看起来并不美妙,因为它比五年前的14%有所下降,而企业的资本投入却增加了242%。通常情况下,这并不理想,但鉴于广东冠军亚洲电子有限公司在最近一次财报公布之前进行了一次融资,这可能至少在一定程度上推动了资本投入的增加。募集的资金不太可能全部投入使用,因此,广东冠军亚洲电子有限公司可能没有从该公司获得完整的收益贡献。
另外,广东冠军亚洲电子有限公司的流动负债仍相当高,占总资产的49%。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..。
尽管资本回报率在短期内有所下降,但我们发现广东冠军亚洲电子有限公司的收入和资本都出现了增长,这是有希望的。这些趋势开始得到投资者的认可,因为该股在过去三年里为持有该股的股东带来了11%的收益。因此,我们建议进一步研究这只股票,以确认它是否具备良好的投资条件。
还有一件事,我们发现了3个警示标志面对广东冠军亚洲电子有限公司,你可能会感兴趣。
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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