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Investors Shouldn't Overlook The Favourable Returns On Capital At Kaili Catalyst & New MaterialsLtd (SHSE:688269)
Investors Shouldn't Overlook The Favourable Returns On Capital At Kaili Catalyst & New MaterialsLtd (SHSE:688269)
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. That's why when we briefly looked at Kaili Catalyst & New MaterialsLtd's (SHSE:688269) ROCE trend, we were very happy with what we saw.
What is Return On Capital Employed (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. To calculate this metric for Kaili Catalyst & New MaterialsLtd, this is the formula:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.20 = CN¥198m ÷ (CN¥1.3b - CN¥347m) (Based on the trailing twelve months to March 2022).
Therefore, Kaili Catalyst & New MaterialsLtd has an ROCE of 20%. In absolute terms that's a great return and it's even better than the Chemicals industry average of 9.9%.
See our latest analysis for Kaili Catalyst & New MaterialsLtd
SHSE:688269 Return on Capital Employed June 11th 2022In the above chart we have measured Kaili Catalyst & New MaterialsLtd'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 Kaili Catalyst & New MaterialsLtd.
How Are Returns Trending?
Kaili Catalyst & New MaterialsLtd deserves to be commended in regards to it's returns. Over the past five years, ROCE has remained relatively flat at around 20% and the business has deployed 513% more capital into its operations. Now considering ROCE is an attractive 20%, this combination is actually pretty appealing because it means the business can consistently put money to work and generate these high returns. If these trends can continue, it wouldn't surprise us if the company became a multi-bagger.
One more thing to note, even though ROCE has remained relatively flat over the last five years, the reduction in current liabilities to 26% of total assets, is good to see from a business owner's perspective. Effectively suppliers now fund less of the business, which can lower some elements of risk.
The Bottom Line
In summary, we're delighted to see that Kaili Catalyst & New MaterialsLtd has been compounding returns by reinvesting at consistently high rates of return, as these are common traits of a multi-bagger. Despite the good fundamentals, total returns from the stock have been virtually flat over the last year. For that reason, savvy investors might want to look further into this company in case it's a prime investment.
Kaili Catalyst & New MaterialsLtd does have some risks though, and we've spotted 1 warning sign for Kaili Catalyst & New MaterialsLtd that you might be interested in.
Kaili Catalyst & New MaterialsLtd 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.
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. That's why when we briefly looked at Kaili Catalyst & New MaterialsLtd's (SHSE:688269) ROCE trend, we were very happy with what we saw.
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?在其他方面,我們希望看到兩件事;第一,不斷增長的返回一是關於已用資本(ROCE),二是公司的金額已動用資本的比例。簡而言之,這些類型的企業是複利機器,這意味着它們不斷地以越來越高的回報率對收益進行再投資。這就是為什麼當我們短暫地查看凱利催化劑及新材料有限公司(上海證券交易所:688269)ROCE趨勢,我們對所看到的非常滿意。
What is Return On Capital Employed (ROCE)?
什麼是資本回報率(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. To calculate this metric for Kaili Catalyst & New MaterialsLtd, this is the formula:
對於那些不知道的人來説,ROCE是一家公司的年度税前利潤(其回報)相對於業務資本的衡量標準。要計算Kaili Catalyst&New MaterialsLtd.的此指標,公式如下:
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)
0.20 = CN¥198m ÷ (CN¥1.3b - CN¥347m) (Based on the trailing twelve months to March 2022).
0.20=人民幣1.98億元?(人民幣13億元-人民幣3.47億元)(根據截至2022年3月的往績12個月計算).
Therefore, Kaili Catalyst & New MaterialsLtd has an ROCE of 20%. In absolute terms that's a great return and it's even better than the Chemicals industry average of 9.9%.
所以呢,凱利催化劑和新材料有限公司的淨資產收益率為20%。按絕對值計算,這是一個很高的回報率,甚至好於9.9%的化工行業平均水平。
See our latest analysis for Kaili Catalyst & New MaterialsLtd
查看我們對凱利催化劑和新材料有限公司的最新分析
In the above chart we have measured Kaili Catalyst & New MaterialsLtd'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 Kaili Catalyst & New MaterialsLtd.
在上面的圖表中,我們衡量了凱利催化劑和新材料有限公司之前的ROCE與其之前的表現,但可以説,未來更重要。如果您想查看分析師對未來的預測,您應該查看我們的免費凱利催化劑及新材料有限公司考察報告
How Are Returns Trending?
回報趨勢如何?
Kaili Catalyst & New MaterialsLtd deserves to be commended in regards to it's returns. Over the past five years, ROCE has remained relatively flat at around 20% and the business has deployed 513% more capital into its operations. Now considering ROCE is an attractive 20%, this combination is actually pretty appealing because it means the business can consistently put money to work and generate these high returns. If these trends can continue, it wouldn't surprise us if the company became a multi-bagger.
凱利催化劑和新材料有限公司的回報值得表揚。在過去的五年中,淨資產收益率相對持平,保持在20%左右,該業務在其運營中投入的資本增加了513%。現在考慮到淨資產收益率是有吸引力的20%,這一組合實際上相當有吸引力,因為它意味着企業可以持續地將資金投入工作,併產生如此高的回報。如果這些趨勢能夠繼續下去,那麼如果這家公司成為一家多業務的公司,我們也不會感到驚訝。
One more thing to note, even though ROCE has remained relatively flat over the last five years, the reduction in current liabilities to 26% of total assets, is good to see from a business owner's perspective. Effectively suppliers now fund less of the business, which can lower some elements of risk.
還有一點需要注意的是,儘管ROCE在過去五年中相對持平,但從企業主的角度來看,流動負債減少到總資產的26%是件好事。實際上,供應商現在為這項業務提供的資金減少了,這可以降低一些風險因素。
The Bottom Line
底線
In summary, we're delighted to see that Kaili Catalyst & New MaterialsLtd has been compounding returns by reinvesting at consistently high rates of return, as these are common traits of a multi-bagger. Despite the good fundamentals, total returns from the stock have been virtually flat over the last year. For that reason, savvy investors might want to look further into this company in case it's a prime investment.
總而言之,我們很高興看到凱利催化劑和新材料有限公司通過持續高回報率的再投資來實現複合回報,因為這是一家多袋子公司的共同特徵。儘管基本面良好,但該股的總回報率在過去一年幾乎持平。出於這個原因,精明的投資者可能希望更深入地研究這家公司,以防它是一項主要投資。
Kaili Catalyst & New MaterialsLtd does have some risks though, and we've spotted 1 warning sign for Kaili Catalyst & New MaterialsLtd that you might be interested in.
然而,凱利催化劑和新材料有限公司確實存在一些風險,我們已經發現凱利催化劑和新材料有限公司的1個警告標誌你可能會感興趣的。
Kaili Catalyst & New MaterialsLtd 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.
凱利催化劑和新材料有限公司並不是唯一一隻獲得高回報的股票。如果您想了解更多,請查看我們的免費基本面穩固、股本回報率高的公司名單。
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。
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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。
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