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Investors Could Be Concerned With Chinese Universe Publishing and Media Group's (SHSE:600373) Returns On Capital

Investors Could Be Concerned With Chinese Universe Publishing and Media Group's (SHSE:600373) Returns On Capital

投资者可能会担心中文环球出版传媒集团(上海证券交易所代码:600373)的资本回报率
Simply Wall St ·  2023/10/10 22:01

There are a few key trends to look for if we want to identify the next multi-bagger. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Although, when we looked at Chinese Universe Publishing and Media Group (SHSE:600373), it didn't seem to tick all of these boxes.

如果我们想要识别下一个多袋子,有几个关键趋势需要寻找。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。基本上,这意味着一家公司有盈利的举措,可以继续进行再投资,这是复合机器的一个特点。虽然,当我们看到中国宇宙出版传媒集团(上海证券交易所:600373),它似乎没有勾选所有这些框。

What Is Return On Capital Employed (ROCE)?

什么是资本回报率(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. Analysts use this formula to calculate it for Chinese Universe Publishing and Media Group:

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。分析师使用以下公式来计算中国宇宙出版传媒集团的股价:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

已动用资本回报率=息税前收益(EBIT)?(总资产-流动负债)

0.055 = CN¥1.1b ÷ (CN¥32b - CN¥12b) (Based on the trailing twelve months to June 2023).

0.055=CN元11亿?(CN元32B-CN元120B)(根据截至2023年6月的往绩12个月计算)

Thus, Chinese Universe Publishing and Media Group has an ROCE of 5.5%. On its own that's a low return on capital but it's in line with the industry's average returns of 4.6%.

因此,华人环球出版传媒集团的净资产收益率为5.5%。就其本身而言,这是一个较低的资本回报率,但与该行业4.6%的平均回报率一致。

Check out our latest analysis for Chinese Universe Publishing and Media Group

查看我们对中国宇宙出版传媒集团的最新分析

roce
SHSE:600373 Return on Capital Employed October 11th 2023
上证所:2023年10月11日600373的资本回报率

In the above chart we have measured Chinese Universe Publishing and Media Group'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 Chinese Universe Publishing and Media Group here for free.

在上面的图表中,我们比较了环球出版传媒集团之前的净资产收益率和之前的业绩,但可以说,未来更重要。如果你愿意,你可以在这里查看报道中国宇宙出版和传媒集团的分析师的预测免费的。

So How Is Chinese Universe Publishing and Media Group's ROCE Trending?

那么,中国宇宙出版传媒集团的ROCE趋势如何呢?

On the surface, the trend of ROCE at Chinese Universe Publishing and Media Group doesn't inspire confidence. To be more specific, ROCE has fallen from 11% over the last five years. Meanwhile, the business is utilizing more capital but this hasn't moved the needle much in terms of sales in the past 12 months, so this could reflect longer term investments. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.

从表面上看,中国宇宙出版传媒集团的ROCE趋势并没有激发人们的信心。更具体地说,ROCE在过去五年中从11%下降。与此同时,该公司正在利用更多资本,但这在过去12个月的销售额方面没有太大变化,因此这可能反映了较长期的投资。从现在开始,值得密切关注该公司的收益,看看这些投资最终是否真的为利润做出了贡献。

The Bottom Line

底线

To conclude, we've found that Chinese Universe Publishing and Media Group is reinvesting in the business, but returns have been falling. Although the market must be expecting these trends to improve because the stock has gained 81% over the last five years. Ultimately, if the underlying trends persist, we wouldn't hold our breath on it being a multi-bagger going forward.

总而言之,我们发现中国宇宙出版传媒集团正在对这项业务进行再投资,但回报一直在下降。尽管市场肯定预计这些趋势会改善,因为该股在过去五年中上涨了81%。归根结底,如果潜在的趋势持续下去,我们不会屏息于它是一个多袋子未来。

Chinese Universe Publishing and Media Group does have some risks though, and we've spotted 1 warning sign for Chinese Universe Publishing and Media Group that you might be interested in.

不过,中国宇宙出版传媒集团确实存在一些风险,我们已经发现中国宇宙出版传媒集团的1个警示标志你可能会感兴趣的。

While Chinese Universe Publishing and Media Group isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.

虽然中国宇宙出版传媒集团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。

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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.

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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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