If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount 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. However, after briefly looking over the numbers, we don't think Vinda International Holdings (HKG:3331) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
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. To calculate this metric for Vinda International Holdings, this is the formula:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.098 = HK$1.6b ÷ (HK$23b - HK$7.0b) (Based on the trailing twelve months to June 2022).
Thus, Vinda International Holdings has an ROCE of 9.8%. On its own, that's a low figure but it's around the 8.6% average generated by the Household Products industry.
View our latest analysis for Vinda International Holdings
SEHK:3331 Return on Capital Employed July 29th 2022
In the above chart we have measured Vinda International Holdings' 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 Vinda International Holdings.
How Are Returns Trending?
The returns on capital haven't changed much for Vinda International Holdings in recent years. The company has consistently earned 9.8% for the last five years, and the capital employed within the business has risen 27% in that time. 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.
In Conclusion...
In summary, Vinda International Holdings has simply been reinvesting capital and generating the same low rate of return as before. Although the market must be expecting these trends to improve because the stock has gained 50% 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.
Vinda International Holdings does have some risks though, and we've spotted 1 warning sign for Vinda International Holdings that you might be interested in.
While Vinda International Holdings may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
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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.
如果你正在尋找一個多袋子,有幾個東西需要注意。理想情況下,一家企業將呈現兩種趨勢;第一,增長退貨關於已使用資本(ROCE),第二,增加金額已動用資本的比例。如果你看到這個,通常意味着它是一家擁有出色商業模式和大量有利可圖的再投資機會的公司。然而,在簡單地看了一下數字之後,我們認為維達國際控股有限公司(HKG:3331)具備了未來實現多個袋子的條件,但讓我們看看為什麼會這樣。
瞭解資本回報率(ROCE)
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)。要計算維達國際控股的這一指標,公式如下:
已動用資本回報率=息税前收益(EBIT)?(總資產-流動負債)
0.098=港幣16億?(港幣230億-70億)(根據截至2022年6月的往績12個月計算).
因此,維達國際控股的淨資產收益率為9.8%。就其本身而言,這是一個較低的數字,但大約是家居用品行業8.6%的平均增長率。
查看我們對維達國際控股的最新分析
聯交所:3331 2022年7月29日資本回報率
在上面的圖表中,我們衡量了維達國際控股公司之前的淨資產收益率和之前的表現,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維達國際控股公司的報道。
回報趨勢如何?
近年來,維達國際控股公司的資本回報率變化不大。過去五年,該公司持續盈利9.8%,同期公司內部資本增加了27%。鑑於該公司增加了已動用資本的數量,這些投資似乎根本不能帶來高的資本回報。
總之..。
總而言之,維達國際控股只是在對資本進行再投資,併產生與以前一樣的低迴報率。儘管市場肯定預計這些趨勢會改善,因為該股在過去五年中上漲了50%。歸根結底,如果潛在的趨勢持續下去,我們不會屏息於它是一個多袋子未來。
不過,維達國際控股確實存在一些風險,我們已經發現維達國際控股的1個警告標誌你可能會感興趣的。
雖然維達國際控股公司目前的回報率可能不是最高的,但我們已經編制了一份目前股本回報率超過25%的公司名單。看看這個免費在這裏列出。
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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。