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Suzhou Hesheng Special Material (SZSE:002290) Is Doing The Right Things To Multiply Its Share Price

Suzhou Hesheng Special Material (SZSE:002290) Is Doing The Right Things To Multiply Its Share Price

蘇州和盛特材(深圳證券交易所:002290)正在做正確的事情來增加其股價
Simply Wall St ·  01/22 20:37

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. So on that note, Suzhou Hesheng Special Material (SZSE:002290) looks quite promising in regards to its trends of return on capital.

尋找具有大幅增長潛力的企業並不容易,但如果我們看幾個關鍵的財務指標,這是可能的。首先,我們希望看到經過驗證的 返回 關於正在增加的資本使用率(ROCE),其次是擴大 基礎 所用資本的比例。基本上,這意味着公司擁有可以繼續進行再投資的盈利計劃,這是複合機器的特徵。因此,就資本回報率的趨勢而言,蘇州合盛特種材料(SZSE:002290)看起來相當樂觀。

Understanding Return On Capital Employed (ROCE)

了解資本使用回報率 (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. Analysts use this formula to calculate it for Suzhou Hesheng Special Material:

如果你以前沒有與ROCE合作過,它會衡量公司從其業務中使用的資本中產生的 “回報”(稅前利潤)。分析師使用以下公式來計算蘇州合盛特種材料的計算公式:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

已動用資本回報率 = 息稅前收益 (EBIT) ¥(總資產-流動負債)

0.12 = CN¥109m ÷ (CN¥1.8b - CN¥915m) (Based on the trailing twelve months to September 2023).

0.12 = 1.09億元人民幣 ÷(18億元人民幣-9.15億元人民幣) (基於截至2023年9月的過去十二個月)

Therefore, Suzhou Hesheng Special Material has an ROCE of 12%. In absolute terms, that's a satisfactory return, but compared to the Metals and Mining industry average of 6.2% it's much better.

因此,蘇州合盛特種材料的投資回報率爲12%。從絕對值來看,這是一個令人滿意的回報,但與金屬和採礦業6.2%的平均水平相比,回報要好得多。

See our latest analysis for Suzhou Hesheng Special Material

查看我們對蘇州合盛特種材料的最新分析

roce
SZSE:002290 Return on Capital Employed January 23rd 2024
SZSE: 002290 2024 年 1 月 23 日動用資本回報率

Historical performance is a great place to start when researching a stock so above you can see the gauge for Suzhou Hesheng Special Material's ROCE against it's prior returns. If you're interested in investigating Suzhou Hesheng Special Material's past further, check out this free graph of past earnings, revenue and cash flow.

歷史表現是研究股票的絕佳起點,因此在上方您可以看到蘇州合盛特種材料的投資回報率與先前回報率的對比。如果你有興趣進一步調查蘇州合盛特種材料的過去,請查看這張過去的收益、收入和現金流的免費圖表。

What The Trend Of ROCE Can Tell Us

ROCE 的趨勢能告訴我們什麼

Suzhou Hesheng Special Material has not disappointed in regards to ROCE growth. The figures show that over the last five years, returns on capital have grown by 52%. That's not bad because this tells for every dollar invested (capital employed), the company is increasing the amount earned from that dollar. Interestingly, the business may be becoming more efficient because it's applying 31% less capital than it was five years ago. Suzhou Hesheng Special Material may be selling some assets so it's worth investigating if the business has plans for future investments to increase returns further still.

蘇州和盛特材對投資回報率的增長並沒有讓人失望。數字顯示,在過去五年中,資本回報率增長了52%。這還不錯,因爲這表明每投資一美元(動用資本),公司就會增加從這美元中獲得的收入。有趣的是,該業務可能會變得更有效率,因爲它使用的資本比五年前減少了31%。蘇州和盛特材可能正在出售部分資產,因此值得調查該企業是否有未來投資計劃,以進一步提高回報。

In another part of our analysis, we noticed that the company's ratio of current liabilities to total assets decreased to 50%, which broadly means the business is relying less on its suppliers or short-term creditors to fund its operations. So this improvement in ROCE has come from the business' underlying economics, which is great to see. However, current liabilities are still at a pretty high level, so just be aware that this can bring with it some risks.

在分析的另一部分中,我們注意到該公司的流動負債佔總資產的比率降至50%,這在很大程度上意味着該企業減少了對供應商或短期債權人爲其運營提供資金的依賴。因此,投資回報率的改善來自該企業的潛在經濟學,這很高興看到。但是,流動負債仍處於相當高的水平,因此請注意,這可能會帶來一些風險。

The Key Takeaway

關鍵要點

In summary, it's great to see that Suzhou Hesheng Special Material has been able to turn things around and earn higher returns on lower amounts of capital. Since the stock has returned a solid 59% to shareholders over the last five years, it's fair to say investors are beginning to recognize these changes. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.

總而言之,很高興看到蘇州合盛特材能夠扭轉局面,用較少的資本獲得更高的回報。由於該股在過去五年中穩步回報了59%的股東,因此可以公平地說,投資者開始意識到這些變化。因此,鑑於該股已證明其趨勢樂觀,值得進一步研究該公司,看看這些趨勢是否可能持續下去。

Before jumping to any conclusions though, we need to know what value we're getting for the current share price. That's where you can check out our FREE intrinsic value estimation that compares the share price and estimated value.

但是,在得出任何結論之前,我們需要知道當前股價能獲得什麼價值。在這裏,您可以查看我們的免費內在價值估算值,該估算值比較了股價和估計價值。

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.

對於那些喜歡投資穩健公司的人,可以查看這份資產負債表穩健和股本回報率高的公司的免費清單。

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.

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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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