Did you know there are some financial metrics that can provide clues of a potential multi-bagger? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. However, after investigating Chipsea Technologies (shenzhen) (SHSE:688595), we don't think it's current trends fit the mold of a multi-bagger.
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. Analysts use this formula to calculate it for Chipsea Technologies (shenzhen):
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.078 = CN¥81m ÷ (CN¥1.1b - CN¥95m) (Based on the trailing twelve months to March 2022).
Therefore, Chipsea Technologies (shenzhen) has an ROCE of 7.8%. In absolute terms, that's a low return but it's around the Semiconductor industry average of 8.6%.
View our latest analysis for Chipsea Technologies (shenzhen)
SHSE:688595 Return on Capital Employed July 26th 2022
Above you can see how the current ROCE for Chipsea Technologies (shenzhen) compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Chipsea Technologies (shenzhen) here for free.
The Trend Of ROCE
In terms of Chipsea Technologies (shenzhen)'s historical ROCE trend, it doesn't exactly demand attention. The company has employed 654% more capital in the last five years, and the returns on that capital have remained stable at 7.8%. Given the company has increased the amount of capital employed, it appears the investments that have been made simply don't provide a high return on capital.
On a side note, Chipsea Technologies (shenzhen) has done well to reduce current liabilities to 8.4% of total assets over the last five years. Effectively suppliers now fund less of the business, which can lower some elements of risk.
The Bottom Line
In conclusion, Chipsea Technologies (shenzhen) has been investing more capital into the business, but returns on that capital haven't increased. And in the last year, the stock has given away 48% so the market doesn't look too hopeful on these trends strengthening any time soon. All in all, the inherent trends aren't typical of multi-baggers, so if that's what you're after, we think you might have more luck elsewhere.
Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 2 warning signs for Chipsea Technologies (shenzhen) (of which 1 shouldn't be ignored!) that you should know about.
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.
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.
你知道嗎,有一些財務指標可以提供潛在的多管齊下的線索?在一個完美的世界裏,我們希望看到一家公司向其業務投入更多資本,理想情況下,從這些資本中賺取的回報也在增加。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。不過,經過調查,奇普西科技(深圳)(上海證券交易所:688595),我們認為目前的趨勢不符合多袋子模式。
瞭解資本回報率(ROCE)
如果您不確定,只需澄清一下,ROCE是一種評估公司投資於其業務的資本獲得多少税前收入(按百分比計算)的指標。分析師使用以下公式來計算芯片海科技(深圳)的股價:
已動用資本回報率=息税前收益(EBIT)?(總資產-流動負債)
0.078=CN元8100萬?(CN元11億元-CN元9500萬元)(根據截至2022年3月的往績12個月計算).
所以呢,芯片海科技(深圳)的淨資產收益率為7.8%。按絕對值計算,這是一個較低的回報率,但約為半導體行業8.6%的平均水平。
查看我們對芯片海科技(深圳)的最新分析
上證綜指:2022年7月26日資本回報率688595
上面你可以看到,芯片海科技(深圳)目前的淨資產收益率(ROCE)與之前的資本回報率相比如何,但你只能從過去了解到這麼多。如果您願意,您可以在這裏查看ChipSea Technologies(深圳)分析師的預測免費的。
ROCE的發展趨勢
就奇普西科技(深圳)的歷史ROCE趨勢而言,它並不完全值得關注。該公司在過去五年中增加了654%的資本投入,資本回報率穩定在7.8%。考慮到該公司增加了投入資本的數量,似乎已經進行的投資根本沒有帶來高的資本回報率。
另外,芯片海科技(深圳)在過去五年中將流動負債降至總資產的8.4%方面做得很好。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。
底線
總而言之,奇普西科技(深圳)一直在向該業務投入更多資本,但這些資本的回報並沒有增加。去年,該股下跌了48%,因此市場對這些趨勢不會很快走強抱有太大希望。總而言之,內在的趨勢並不是典型的多重投放者,所以如果這是你想要的,我們認為你在其他地方可能會有更多的運氣。
由於幾乎每家公司都面臨一些風險,瞭解它們是什麼是值得的,我們已經發現ChipSea Technologies(深圳)的2個警告標誌(其中1個不應該被忽視!)這是你應該知道的。
對於那些喜歡投資於穩固的公司,看看這個免費資產負債表穩健、股本回報率高的公司名單。
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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。