Singamas Container Holdings (HKG:716) May Have Issues Allocating Its Capital
Singamas Container Holdings (HKG:716) May Have Issues Allocating Its Capital
To avoid investing in a business that's in decline, there's a few financial metrics that can provide early indications of aging. More often than not, we'll see a declining return on capital employed (ROCE) and a declining amount of capital employed. Basically the company is earning less on its investments and it is also reducing its total assets. And from a first read, things don't look too good at Singamas Container Holdings (HKG:716), so let's see why.
为了避免投资衰退的企业,有一些财务指标可以提供老龄化的早期迹象。通常,我们会看到下降 返回 论资本使用率(ROCE)和下降情况 金额 占用资本的百分比。基本上,该公司的投资收入减少了,总资产也在减少。从一读开始,事情看起来就不太擅长了 胜狮集装箱控股公司 (HKG: 716),那么让我们来看看为什么。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Singamas Container Holdings, this is the formula:
如果你以前没有与ROCE合作过,它会衡量公司从其业务中使用的资本中产生的 “回报”(税前利润)。要计算 Singamas Container Holdings 的这一指标,公式如下:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
使用资本回报率 = 利息和税前收益 (EBIT) ÷(总资产-流动负债)
0.054 = US$36m ÷ (US$794m - US$116m) (Based on the trailing twelve months to June 2023).
0.054 = 3,600万美元 ε(7.94亿美元-1.16亿美元) (基于截至 2023 年 6 月的过去十二个月)。
Therefore, Singamas Container Holdings has an ROCE of 5.4%. In absolute terms, that's a low return and it also under-performs the Machinery industry average of 7.1%.
因此, 胜狮集装箱控股公司的投资回报率为5.4%。 从绝对值来看,这是一个低回报,其表现也低于机械行业7.1%的平均水平。
See our latest analysis for Singamas Container Holdings
查看我们对胜狮集装箱控股的最新分析
Historical performance is a great place to start when researching a stock so above you can see the gauge for Singamas Container Holdings' ROCE against it's prior returns. If you'd like to look at how Singamas Container Holdings has performed in the past in other metrics, you can view this free graph of past earnings, revenue and cash flow.
在研究股票时,历史表现是一个不错的起点,因此在上面你可以看到胜狮集装箱控股的投资回报率与先前回报率的对比。如果你想看看胜狮集装箱控股公司过去在其他指标中的表现,你可以查看这个 免费的 过去的收益、收入和现金流图。
How Are Returns Trending?
退货趋势如何?
We are a bit anxious about the trends of ROCE at Singamas Container Holdings. To be more specific, today's ROCE was 26% five years ago but has since fallen to 5.4%. On top of that, the business is utilizing 23% less capital within its operations. The fact that both are shrinking is an indication that the business is going through some tough times. If these underlying trends continue, we wouldn't be too optimistic going forward.
我们对胜狮集装箱控股公司投资回报率的趋势有些担忧。更具体地说,今天的投资回报率在五年前为26%,但此后已降至5.4%。最重要的是,该企业在运营中使用的资本减少了23%。两者都在萎缩这一事实表明该业务正在经历一些艰难时期。如果这些潜在趋势继续下去,我们对未来不会太乐观。
On a related note, Singamas Container Holdings has decreased its current liabilities to 15% of total assets. So we could link some of this to the decrease in ROCE. What's more, this can reduce some aspects of risk to the business because now the company's suppliers or short-term creditors are funding less of its operations. Some would claim this reduces the business' efficiency at generating ROCE since it is now funding more of the operations with its own money.
与此相关的是,胜狮集装箱控股已将其流动负债减少至总资产的15%。因此,我们可以将其中一些与投资回报率的下降联系起来。更重要的是,这可以降低业务的某些方面的风险,因为现在公司的供应商或短期债权人减少了为其运营提供的资金。有人会声称,这降低了企业产生投资回报率的效率,因为它现在用自己的资金为更多的运营提供资金。
Our Take On Singamas Container Holdings' ROCE
我们对胜狮集装箱控股公司投资回报率的看法
To see Singamas Container Holdings reducing the capital employed in the business in tandem with diminishing returns, is concerning. However the stock has delivered a 53% return to shareholders over the last five years, so investors might be expecting the trends to turn around. Regardless, we don't feel too comfortable with the fundamentals so we'd be steering clear of this stock for now.
令人担忧的是,Singamas Container Holdings减少了该业务中使用的资本,而回报却减少了。但是,该股在过去五年中为股东带来了53%的回报,因此投资者可能预计趋势会好转。无论如何,我们对基本面不太满意,因此我们暂时将避开这只股票。
On a separate note, we've found 3 warning signs for Singamas Container Holdings you'll probably want to know about.
另一方面,我们发现 胜狮集装箱控股公司有 3 个警告标志 你可能想知道。
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?担心内容吗? 取得联系 直接和我们在一起。 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笼统的。 我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。 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,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。简而言之,华尔街在上述任何股票中都没有头寸。