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Investors Met With Slowing Returns on Capital At QuantaSing Group (NASDAQ:QSG)
Investors Met With Slowing Returns on Capital At QuantaSing Group (NASDAQ:QSG)
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. So when we looked at QuantaSing Group (NASDAQ:QSG), they do have a high ROCE, but we weren't exactly elated from how returns are trending.
Understanding Return On Capital Employed (ROCE)
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. To calculate this metric for QuantaSing Group, this is the formula:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.42 = CN¥171m ÷ (CN¥1.3b - CN¥947m) (Based on the trailing twelve months to December 2023).
Thus, QuantaSing Group has an ROCE of 42%. That's a fantastic return and not only that, it outpaces the average of 7.7% earned by companies in a similar industry.
In the above chart we have measured QuantaSing 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 QuantaSing Group for free.
So How Is QuantaSing Group's ROCE Trending?
Things have been pretty stable at QuantaSing Group, with its capital employed and returns on that capital staying somewhat the same for the last . Businesses with these traits tend to be mature and steady operations because they're past the growth phase. So it may not be a multi-bagger in the making, but given the decent 42% return on capital, it'd be difficult to find fault with the business's current operations.
On a side note, QuantaSing Group's current liabilities are still rather high at 70% of total assets. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.
The Bottom Line On QuantaSing Group's ROCE
In summary, QuantaSing Group isn't compounding its earnings but is generating decent returns on the same amount of capital employed. And investors appear hesitant that the trends will pick up because the stock has fallen 65% in the last year. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.
If you'd like to know more about QuantaSing Group, we've spotted 2 warning signs, and 1 of them is a bit unpleasant.
QuantaSing Group is not the only stock earning high returns. If you'd like to see more, check out our free list of companies earning high returns on equity with solid fundamentals.
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.
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. So when we looked at QuantaSing Group (NASDAQ:QSG), they do have a high ROCE, but we weren't exactly elated from how returns are trending.
你知道有一些财务指标可以为潜在的多袋装袋者提供线索吗?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 所用资本的比例。如果你看到这一点,这通常意味着它是一家拥有良好商业模式和大量盈利再投资机会的公司。因此,当我们查看Quantasing集团(纳斯达克股票代码:QSG)时,他们的投资回报率确实很高,但我们对回报率的趋势并不完全感到兴高采烈。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (ROCE)
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. To calculate this metric for QuantaSing Group, this is the formula:
为了澄清一下你是否不确定,ROCE是评估公司从投资于其业务的资本中获得多少税前收入(按百分比计算)的指标。要计算 Quantasing Group 的这个指标,公式如下:
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)
0.42 = CN¥171m ÷ (CN¥1.3b - CN¥947m) (Based on the trailing twelve months to December 2023).
0.42 = 1.71亿元人民币 ÷(13亿元人民币-9.47亿元人民币) (基于截至2023年12月的过去十二个月)。
Thus, QuantaSing Group has an ROCE of 42%. That's a fantastic return and not only that, it outpaces the average of 7.7% earned by companies in a similar industry.
因此,Quantasing Group的投资回报率为42%。这是一个了不起的回报,不仅如此,它还超过了同类行业公司7.7%的平均收入。
In the above chart we have measured QuantaSing 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 QuantaSing Group for free.
在上图中,我们将Quantasing集团先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。如果你愿意,你可以免费查看报道Quantasing集团的分析师的预测。
So How Is QuantaSing Group's ROCE Trending?
那么 Quantasing Group 的 ROCE 趋势如何呢?
Things have been pretty stable at QuantaSing Group, with its capital employed and returns on that capital staying somewhat the same for the last . Businesses with these traits tend to be mature and steady operations because they're past the growth phase. So it may not be a multi-bagger in the making, but given the decent 42% return on capital, it'd be difficult to find fault with the business's current operations.
QuantaSing Group的情况一直相当稳定,其资本的使用和过去的资本回报率保持不变。具有这些特征的企业往往是成熟而稳定的运营,因为它们已经过了增长阶段。因此,它可能不是一个正在形成的多口袋,但考虑到可观的42%的资本回报率,很难发现该企业目前的业务存在问题。
On a side note, QuantaSing Group's current liabilities are still rather high at 70% of total assets. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.
顺便说一句,Quantasing集团的流动负债仍然相当高,占总资产的70%。这可能会带来一些风险,因为该公司的运营基本上在很大程度上依赖其供应商或其他类型的短期债权人。虽然这不一定是坏事,但如果这个比率较低,可能会有好处。
The Bottom Line On QuantaSing Group's ROCE
Quantasing Group 投资回报率的底线
In summary, QuantaSing Group isn't compounding its earnings but is generating decent returns on the same amount of capital employed. And investors appear hesitant that the trends will pick up because the stock has fallen 65% in the last year. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.
总而言之,Quantasing Group并没有复合其收益,但是在使用相同数量的资本的情况下创造了可观的回报。投资者似乎对趋势能否回升犹豫不决,因为该股去年下跌了65%。无论如何,该股票不具有上面讨论的多袋装股票的特征,因此,如果您正在寻找这种特征,我们认为您在其他地方会更幸运。
If you'd like to know more about QuantaSing Group, we've spotted 2 warning signs, and 1 of them is a bit unpleasant.
如果你想进一步了解Quantasing Group,我们已经发现了2个警告信号,其中一个有点不愉快。
QuantaSing Group is not the only stock earning high returns. If you'd like to see more, check out our free list of companies earning high returns on equity with solid fundamentals.
Quantasing集团并不是唯一一家获得高回报的股票。如果您想了解更多,请查看我们的免费公司名单,列出了基本面稳健且具有高股本回报率的公司。
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?直接联系我们。 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,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本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型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。
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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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