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Luoyang Glass (HKG:1108) Might Have The Makings Of A Multi-Bagger
Luoyang Glass (HKG:1108) Might Have The Makings Of A Multi-Bagger
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing 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. With that in mind, we've noticed some promising trends at Luoyang Glass (HKG:1108) so let's look a bit deeper.
What Is Return On Capital Employed (ROCE)?
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Luoyang Glass is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.045 = CN¥265m ÷ (CN¥8.8b - CN¥3.0b) (Based on the trailing twelve months to March 2022).
So, Luoyang Glass has an ROCE of 4.5%. In absolute terms, that's a low return and it also under-performs the Building industry average of 11%.
See our latest analysis for Luoyang Glass
SEHK:1108 Return on Capital Employed August 30th 2022Above you can see how the current ROCE for Luoyang Glass compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Luoyang Glass.
What The Trend Of ROCE Can Tell Us
Luoyang Glass has recently broken into profitability so their prior investments seem to be paying off. About five years ago the company was generating losses but things have turned around because it's now earning 4.5% on its capital. And unsurprisingly, like most companies trying to break into the black, Luoyang Glass is utilizing 841% more capital than it was five years ago. We like this trend, because it tells us the company has profitable reinvestment opportunities available to it, and if it continues going forward that can lead to a multi-bagger performance.
On a related note, the company's ratio of current liabilities to total assets has decreased to 34%, which basically reduces it's funding from the likes of short-term creditors or suppliers. So this improvement in ROCE has come from the business' underlying economics, which is great to see.
In Conclusion...
Long story short, we're delighted to see that Luoyang Glass' reinvestment activities have paid off and the company is now profitable. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. Therefore, we think it would be worth your time to check if these trends are going to continue.
If you want to know some of the risks facing Luoyang Glass we've found 3 warning signs (1 is significant!) that you should be aware of before investing here.
While Luoyang Glass isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
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?理想情况下,一家企业将呈现两种趋势;第一,增长退货关于已使用资本(ROCE),第二,增加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。考虑到这一点,我们在以下方面注意到一些有希望的趋势洛阳玻璃(HKG:1108)所以让我们看得更深一点。
什么是资本回报率(ROCE)?
对于那些不知道的人来说,ROCE是一家公司的年度税前利润(其回报)相对于业务资本的衡量标准。洛阳玻璃的计算公式为:
已动用资本回报率=息税前收益(EBIT)?(总资产-流动负债)
0.045元=2.65亿元?(88亿元-30亿元)(根据截至2022年3月的往绩12个月计算).
所以,洛阳玻璃的净资产收益率为4.5%。按绝对值计算,这是一个较低的回报率,也低于11%的建筑业平均水平。
查看我们对洛阳玻璃的最新分析
联交所:1108已动用资本回报率2022年8月30日上面你可以看到洛阳玻璃目前的净资产收益率与之前的资本回报率相比如何,但你只能从过去知道这么多。如果您想查看分析师对未来的预测,您应该查看我们的免费洛阳玻璃报道。
ROCE的走势告诉我们什么
洛阳玻璃最近实现了盈利,因此他们之前的投资似乎得到了回报。大约五年前,该公司还在亏损,但情况已经好转,因为它现在的资本回报率为4.5%。不出所料,就像大多数试图进军黑色市场的公司一样,洛阳玻璃利用的资本比五年前增加了841%。我们喜欢这一趋势,因为它告诉我们,该公司有盈利的再投资机会,如果它继续前进,可能会导致多袋业绩。
另外,该公司的流动负债与总资产之比已降至34%,这基本上减少了它从短期债权人或供应商等机构获得的资金。因此,ROCE的这种改善来自于企业的基础经济,这一点很好。
总之..。
长话短说,我们很高兴看到洛阳玻璃的再投资活动取得了回报,公司现在已经盈利。随着该股在过去五年中表现异常出色,这些模式得到了投资者的考虑。因此,我们认为值得您花时间检查这些趋势是否会继续下去。
如果你想知道洛阳玻璃面临的一些风险,我们发现了3个警示标志(1很重要!)在这里投资之前你应该意识到这一点。
虽然洛阳玻璃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。
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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