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There's Been No Shortage Of Growth Recently For Milkyway Chemical Supply Chain Service's (SHSE:603713) Returns On Capital
There's Been No Shortage Of Growth Recently For Milkyway Chemical Supply Chain Service's (SHSE:603713) Returns On Capital
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. With that in mind, we've noticed some promising trends at Milkyway Chemical Supply Chain Service (SHSE:603713) so let's look a bit deeper.
Return On Capital Employed (ROCE): What Is It?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for Milkyway Chemical Supply Chain Service:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.16 = CN¥730m ÷ (CN¥8.2b - CN¥3.8b) (Based on the trailing twelve months to June 2022).
Therefore, Milkyway Chemical Supply Chain Service has an ROCE of 16%. On its own, that's a standard return, however it's much better than the 12% generated by the Logistics industry.
View our latest analysis for Milkyway Chemical Supply Chain Service
SHSE:603713 Return on Capital Employed October 3rd 2022In the above chart we have measured Milkyway Chemical Supply Chain Service's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Milkyway Chemical Supply Chain Service here for free.
What Does the ROCE Trend For Milkyway Chemical Supply Chain Service Tell Us?
The trends we've noticed at Milkyway Chemical Supply Chain Service are quite reassuring. The data shows that returns on capital have increased substantially over the last five years to 16%. The amount of capital employed has increased too, by 510%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
For the record though, there was a noticeable increase in the company's current liabilities over the period, so we would attribute some of the ROCE growth to that. The current liabilities has increased to 46% of total assets, so the business is now more funded by the likes of its suppliers or short-term creditors. And with current liabilities at those levels, that's pretty high.
The Key Takeaway
To sum it up, Milkyway Chemical Supply Chain Service has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. And a remarkable 293% total return over the last three years tells us that investors are expecting more good things to come in the future. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
On a separate note, we've found 1 warning sign for Milkyway Chemical Supply Chain Service 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.
如果你正在寻找一个多袋子,有几个东西需要注意。通常,我们会注意到一种增长的趋势退货关于已使用资本(ROCE)以及与之相伴随的是不断扩大的基地已动用资本的比例。归根结底,这表明它是一家正在以越来越高的回报率对利润进行再投资的企业。考虑到这一点,我们在以下方面注意到一些有希望的趋势Milkyway化工供应链服务(上海证券交易所:603713)所以让我们看得更深一点。
资本回报率(ROCE):它是什么?
如果你以前没有使用过ROCE,它衡量的是一家公司从业务资本中获得的“回报”(税前利润)。分析师使用以下公式来计算Milkyway化学供应链服务:
已动用资本回报率=息税前收益(EBIT)?(总资产-流动负债)
0.16=CN元7.3亿?(CN元82亿-CN元38亿)(根据截至2022年6月的往绩12个月计算).
所以呢,Milkyway化学供应链服务的净资产收益率为16%。就其本身而言,这是一个标准的回报,但它比物流行业产生的12%要好得多。
查看我们对Milkyway化学供应链服务的最新分析
上证所:2022年10月3日资本回报率为603713在上面的图表中,我们衡量了Milkyway化学供应链服务公司之前的净资产收益率与其之前的业绩,但可以说,未来更重要。如果您愿意,您可以在此处查看涵盖Milkyway化学供应链服务的分析师的预测免费的。
Milkyway化工供应链服务的ROCE趋势告诉我们什么?
我们在Milkyway化学供应链服务公司注意到的趋势相当令人放心。数据显示,过去五年,资本回报率大幅上升至16%。资本使用量也有所增加,增长了510%。越来越多的资本带来越来越多的回报,这在多头投资者中很常见,这就是为什么我们对此印象深刻。
不过,根据记录,在此期间,该公司的流动负债明显增加,因此我们将ROCE的增长部分归因于此。目前的负债已经增加到总资产的46%,因此该业务现在更多地由供应商或短期债权人等提供资金。考虑到目前的负债水平,这是相当高的。
关键的外卖
总而言之,Milkyway化工供应链服务公司已经证明,它可以对业务进行再投资,并从所使用的资本中产生更高的回报,这是非常棒的。过去三年令人惊叹的293%的总回报率告诉我们,投资者期待未来会有更多的好事情发生。话虽如此,我们仍然认为,前景看好的基本面意味着该公司值得进行进一步的尽职调查。
另外,我们发现1个关于Milkyway化学品供应链服务的警告标志你可能会想知道。
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。
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