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Investors Will Want Milkyway Chemical Supply Chain ServiceLtd's (SHSE:603713) Growth In ROCE To Persist
Investors Will Want Milkyway Chemical Supply Chain ServiceLtd's (SHSE:603713) Growth In ROCE To Persist
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount 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. Speaking of which, we noticed some great changes in Milkyway Chemical Supply Chain ServiceLtd's (SHSE:603713) returns on capital, so let's have a look.
Understanding Return On Capital Employed (ROCE)
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Milkyway Chemical Supply Chain ServiceLtd is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.15 = CN¥644m ÷ (CN¥7.9b - CN¥3.7b) (Based on the trailing twelve months to March 2022).
Therefore, Milkyway Chemical Supply Chain ServiceLtd has an ROCE of 15%. 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 ServiceLtd
SHSE:603713 Return on Capital Employed June 1st 2022Above you can see how the current ROCE for Milkyway Chemical Supply Chain ServiceLtd compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.
What Does the ROCE Trend For Milkyway Chemical Supply Chain ServiceLtd Tell Us?
Investors would be pleased with what's happening at Milkyway Chemical Supply Chain ServiceLtd. Over the last five years, returns on capital employed have risen substantially to 15%. Basically the business is earning more per dollar of capital invested and in addition to that, 514% more capital is being employed now too. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Effectively this means that suppliers or short-term creditors are now funding 46% of the business, which is more than it was five years ago. Given it's pretty high ratio, we'd remind investors that having current liabilities at those levels can bring about some risks in certain businesses.
Our Take On Milkyway Chemical Supply Chain ServiceLtd's ROCE
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what Milkyway Chemical Supply Chain ServiceLtd has. And with the stock having performed exceptionally well over the last three years, these patterns are being accounted for by investors. Therefore, we think it would be worth your time to check if these trends are going to continue.
On a final note, we found 2 warning signs for Milkyway Chemical Supply Chain ServiceLtd (1 can't be ignored) you should be aware of.
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive 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 we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount 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. Speaking of which, we noticed some great changes in Milkyway Chemical Supply Chain ServiceLtd's (SHSE:603713) returns on capital, so let's have a look.
如果我們想要找到一隻可以長期成倍增長的股票,我們應該尋找什麼潛在趨勢?一種常見的方法是嘗試找到一家擁有退貨已使用資本(ROCE)正在增加,同時也在增長金額已動用資本的比例。這向我們表明,它是一臺複合機器,能夠不斷地將其收益再投資於企業,併產生更高的回報。説到這裏,我們注意到了一些很大的變化Milkyway化工供應鏈服務有限公司(上海證券交易所:603713)資本回報率,讓我們來看看。
Understanding Return On Capital Employed (ROCE)
瞭解資本回報率(ROCE)
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Milkyway Chemical Supply Chain ServiceLtd is:
如果你以前沒有使用過ROCE,它衡量的是一家公司從業務資本中獲得的“回報”(税前利潤)。Milkyway化學供應鏈服務有限公司的計算公式為:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已動用資本回報率=息税前收益(EBIT)?(總資產-流動負債)
0.15 = CN¥644m ÷ (CN¥7.9b - CN¥3.7b) (Based on the trailing twelve months to March 2022).
0.15=CN元6.44億?(CN元79億-CN元37億)(根據截至2022年3月的往績12個月計算).
Therefore, Milkyway Chemical Supply Chain ServiceLtd has an ROCE of 15%. On its own, that's a standard return, however it's much better than the 12% generated by the Logistics industry.
所以呢,Milkyway化工供應鏈服務有限公司的淨資產收益率為15%。就其本身而言,這是一個標準的回報,但它比物流行業產生的12%要好得多。
View our latest analysis for Milkyway Chemical Supply Chain ServiceLtd
查看我們對Milkyway化工供應鏈服務有限公司的最新分析
Above you can see how the current ROCE for Milkyway Chemical Supply Chain ServiceLtd compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.
上面你可以看到Milkyway Chemical Supply Chain ServiceLtd目前的淨資產收益率(ROCE)與其先前的資本回報率相比,但你只能從過去知道這麼多。如果您感興趣,您可以在我們的免費分析師對該公司的預測報告。
What Does the ROCE Trend For Milkyway Chemical Supply Chain ServiceLtd Tell Us?
Milkyway化工供應鏈服務有限公司的ROCE趨勢告訴我們什麼?
Investors would be pleased with what's happening at Milkyway Chemical Supply Chain ServiceLtd. Over the last five years, returns on capital employed have risen substantially to 15%. Basically the business is earning more per dollar of capital invested and in addition to that, 514% more capital is being employed now too. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
投資者會對Milkyway化工供應鏈服務有限公司正在發生的事情感到高興。過去五年,已動用資本回報率大幅上升至15%。基本上,企業每投入一美元資本就能賺到更多的錢,除此之外,現在使用的資本也增加了514%。越來越多的資本帶來越來越多的回報,這在多頭投資者中很常見,這就是為什麼我們對此印象深刻。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Effectively this means that suppliers or short-term creditors are now funding 46% of the business, which is more than it was five years ago. Given it's pretty high ratio, we'd remind investors that having current liabilities at those levels can bring about some risks in certain businesses.
另外,我們注意到ROCE的改善似乎部分是由流動負債的增加推動的。實際上,這意味着供應商或短期債權人現在為該業務提供了46%的資金,這一比例高於五年前。鑑於這一比率相當高,我們要提醒投資者,流動負債處於這樣的水平可能會給某些業務帶來一些風險。
Our Take On Milkyway Chemical Supply Chain ServiceLtd's ROCE
我們對Milkyway化工供應鏈服務有限公司ROCE的看法
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what Milkyway Chemical Supply Chain ServiceLtd has. And with the stock having performed exceptionally well over the last three years, these patterns are being accounted for by investors. Therefore, we think it would be worth your time to check if these trends are going to continue.
一家資本回報率不斷增長並能夠持續對自身進行再投資的公司是一個備受追捧的特徵,這就是Milkyway化學供應鏈服務有限公司所擁有的。隨着該股在過去三年中表現異常出色,這些模式得到了投資者的考慮。因此,我們認為值得您花時間檢查這些趨勢是否會繼續下去。
On a final note, we found 2 warning signs for Milkyway Chemical Supply Chain ServiceLtd (1 can't be ignored) you should be aware of.
最後,我們發現Milkyway化工供應鏈服務有限公司的2個警告標誌(1不能被忽視)你應該知道。
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
如果你想尋找收入豐厚的可靠公司,看看這個免費擁有良好資產負債表和可觀股本回報率的公司名單。
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.
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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