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Here's What's Concerning About Weifu High-Technology Group's (SZSE:200581) Returns On Capital
Here's What's Concerning About Weifu High-Technology Group's (SZSE:200581) 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. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. However, after investigating Weifu High-Technology Group (SZSE:200581), we don't think it's current trends fit the mold of a multi-bagger.
Return On Capital Employed (ROCE): What Is It?
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. The formula for this calculation on Weifu High-Technology Group is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.026 = CN¥533m ÷ (CN¥32b - CN¥11b) (Based on the trailing twelve months to September 2022).
Thus, Weifu High-Technology Group has an ROCE of 2.6%. In absolute terms, that's a low return and it also under-performs the Auto Components industry average of 5.0%.
See our latest analysis for Weifu High-Technology Group
In the above chart we have measured Weifu High-Technology Group's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Weifu High-Technology Group.
So How Is Weifu High-Technology Group's ROCE Trending?
On the surface, the trend of ROCE at Weifu High-Technology Group doesn't inspire confidence. Over the last five years, returns on capital have decreased to 2.6% from 4.5% five years ago. Given the business is employing more capital while revenue has slipped, this is a bit concerning. This could mean that the business is losing its competitive advantage or market share, because while more money is being put into ventures, it's actually producing a lower return - "less bang for their buck" per se.
While on the subject, we noticed that the ratio of current liabilities to total assets has risen to 35%, which has impacted the ROCE. Without this increase, it's likely that ROCE would be even lower than 2.6%. While the ratio isn't currently too high, it's worth keeping an eye on this because if it gets particularly high, the business could then face some new elements of risk.
The Key Takeaway
From the above analysis, we find it rather worrisome that returns on capital and sales for Weifu High-Technology Group have fallen, meanwhile the business is employing more capital than it was five years ago. Investors must expect better things on the horizon though because the stock has risen 38% in the last five years. Either way, we aren't huge fans of the current trends and so with that we think you might find better investments elsewhere.
One final note, you should learn about the 2 warning signs we've spotted with Weifu High-Technology Group (including 1 which makes us a bit uncomfortable) .
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.
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. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. However, after investigating Weifu High-Technology Group (SZSE:200581), we don't think it's current trends fit the mold of a multi-bagger.
如果你正在寻找一款多功能装袋机,有几件事需要注意。通常,我们希望注意到增长的趋势 返回 在资本使用率(ROCE)方面,除此之外,还在扩大 基础 所用资本的百分比。这向我们表明,它是一台复合机器,能够不断将其收益再投资回业务并产生更高的回报。但是,经过调查 威孚高科集团 (SZSE: 200581),我们认为它目前的趋势不符合多袋机的模式。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
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. The formula for this calculation on Weifu High-Technology Group is:
如果你不确定,可以澄清一下,投资回报率是评估公司从投资于业务的资本中获得多少税前收入(按百分比计算)的指标。威孚高科集团的计算公式为:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
资本使用回报率 = 利息和税前收益 (EBIT) ▲(总资产-流动负债)
0.026 = CN¥533m ÷ (CN¥32b - CN¥11b) (Based on the trailing twelve months to September 2022).
0.026 = cn¥533m ≥ (cn¥32b-cn¥11b) (基于截至2022年9月的过去十二个月)。
Thus, Weifu High-Technology Group has an ROCE of 2.6%. In absolute terms, that's a low return and it also under-performs the Auto Components industry average of 5.0%.
因此, 威孚高科集团的投资回报率为2.6%。 从绝对值来看,这是一个很低的回报,它的表现也低于汽车零部件行业5.0%的平均水平。
See our latest analysis for Weifu High-Technology Group
查看我们对威孚高科集团的最新分析
In the above chart we have measured Weifu High-Technology Group's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Weifu High-Technology Group.
在上图中,我们将威孚高科集团之前的投资回报率与之前的表现进行了比较,但可以说,未来更为重要。如果你想看看分析师对未来的预测,你应该看看我们的 免费的 威孚高科集团的报告。
So How Is Weifu High-Technology Group's ROCE Trending?
那么,威孚高科集团的ROCE趋势如何?
On the surface, the trend of ROCE at Weifu High-Technology Group doesn't inspire confidence. Over the last five years, returns on capital have decreased to 2.6% from 4.5% five years ago. Given the business is employing more capital while revenue has slipped, this is a bit concerning. This could mean that the business is losing its competitive advantage or market share, because while more money is being put into ventures, it's actually producing a lower return - "less bang for their buck" per se.
从表面上看,威孚高科集团的ROCE趋势并不能激发信心。在过去五年中,资本回报率从五年前的4.5%降至2.6%。鉴于该企业在收入下滑的同时雇用了更多资金,这有点令人担忧。这可能意味着该企业正在失去竞争优势或市场份额,因为尽管向风险投资投入了更多的资金,但它实际上产生的回报却较低——本身 “物有所值”。
While on the subject, we noticed that the ratio of current liabilities to total assets has risen to 35%, which has impacted the ROCE. Without this increase, it's likely that ROCE would be even lower than 2.6%. While the ratio isn't currently too high, it's worth keeping an eye on this because if it gets particularly high, the business could then face some new elements of risk.
在讨论这个问题时,我们注意到流动负债与总资产的比率已上升到35%,这影响了投资回报率。如果没有这种增长,投资回报率很可能会低于2.6%。尽管该比率目前还不算太高,但值得关注,因为如果比率特别高,企业可能会面临一些新的风险因素。
The Key Takeaway
关键要点
From the above analysis, we find it rather worrisome that returns on capital and sales for Weifu High-Technology Group have fallen, meanwhile the business is employing more capital than it was five years ago. Investors must expect better things on the horizon though because the stock has risen 38% in the last five years. Either way, we aren't huge fans of the current trends and so with that we think you might find better investments elsewhere.
从上述分析中,我们发现威孚高科集团的资本回报率和销售回报率下降了,同时该业务使用的资金比五年前更多,这相当令人担忧。但是,投资者必须期望即将出现更好的情况,因为该股在过去五年中上涨了38%。无论哪种方式,我们都不是当前趋势的忠实拥护者,因此我们认为您可能会在其他地方找到更好的投资。
One final note, you should learn about the 2 warning signs we've spotted with Weifu High-Technology Group (including 1 which makes us a bit uncomfortable) .
最后一点,你应该了解一下 2 个警告标志 我们发现了 Weifu High Technology Group(包括 1 个,这让我们有点不舒服)。
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.
对于那些喜欢投资的人 实力雄厚的公司, 看看这个 免费的 资产负债表稳健、股本回报率高的公司名单。
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.
对这篇文章有反馈吗?对内容感到担忧? 取得联系 直接和我们联系。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St 的这篇文章本质上是一般性的。 我们仅使用不偏不倚的方法根据历史数据和分析师预测提供评论,我们的文章并非旨在提供财务建议。 它不构成买入或卖出任何股票的建议,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。请注意,我们的分析可能未将最新的价格敏感型公司公告或定性材料考虑在内。简而言之,华尔街对上述任何股票都没有头寸。
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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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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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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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