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Return Trends At Yangzhou Yangjie Electronic Technology (SZSE:300373) Aren't Appealing

Return Trends At Yangzhou Yangjie Electronic Technology (SZSE:300373) Aren't Appealing

揚州揚傑電子科技(深圳證券交易所代碼:300373)的回報趨勢並不吸引人
Simply Wall St ·  05/20 20:29

There are a few key trends to look for if we want to identify the next 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. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. However, after investigating Yangzhou Yangjie Electronic Technology (SZSE:300373), we don't think it's current trends fit the mold of a multi-bagger.

如果我們想確定下一款多袋機,有一些關鍵的趨勢需要考慮。在一個完美的世界中,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,從這些資本中獲得的回報也在增加。歸根結底,這表明這是一家以不斷提高的回報率對利潤進行再投資的企業。但是,在調查了揚州揚傑電子科技(SZSE: 300373)之後,我們認爲目前的趨勢不符合多袋機的模式。

Return On Capital Employed (ROCE): What Is It?

資本使用回報率(ROCE):這是什麼?

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 Yangzhou Yangjie Electronic Technology, this is the formula:

對於那些不知道的人來說,ROCE是衡量公司年度稅前利潤(其回報率)的指標,相對於該業務使用的資本。要計算揚州揚傑電子科技的這個指標,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 = 息稅前收益 (EBIT) ¥(總資產-流動負債)

0.066 = CN¥670m ÷ (CN¥13b - CN¥3.1b) (Based on the trailing twelve months to March 2024).

0.066 = 6.7億元人民幣 ÷(13億元人民幣-31億元人民幣) (基於截至2024年3月的過去十二個月)

So, Yangzhou Yangjie Electronic Technology has an ROCE of 6.6%. On its own that's a low return, but compared to the average of 4.1% generated by the Semiconductor industry, it's much better.

因此,揚州揚傑電子科技的投資回報率爲6.6%。這本身就是一個低迴報,但與半導體行業4.1%的平均回報率相比,要好得多。

roce
SZSE:300373 Return on Capital Employed May 21st 2024
SZSE: 300373 2024年5月21日動用資本回報率

In the above chart we have measured Yangzhou Yangjie Electronic Technology'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 analyst report for Yangzhou Yangjie Electronic Technology .

在上圖中,我們將揚州揚傑電子科技先前的投資回報率與之前的表現進行了對比,但可以說,未來更爲重要。如果你想了解分析師對未來的預測,你應該查看我們爲揚州揚傑電子科技提供的免費分析師報告。

How Are Returns Trending?

退貨趨勢如何?

The returns on capital haven't changed much for Yangzhou Yangjie Electronic Technology in recent years. The company has consistently earned 6.6% for the last five years, and the capital employed within the business has risen 291% 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.

近年來,揚州揚傑電子科技的資本回報率沒有太大變化。在過去五年中,該公司的收入一直保持6.6%,在此期間,該公司的資本增長了291%。鑑於該公司增加了動用資本金額,看來已經進行的投資根本無法提供很高的資本回報率。

What We Can Learn From Yangzhou Yangjie Electronic Technology's ROCE

我們可以從揚州揚傑電子科技的ROCE中學到什麼

In conclusion, Yangzhou Yangjie Electronic Technology has been investing more capital into the business, but returns on that capital haven't increased. Yet to long term shareholders the stock has gifted them an incredible 134% return in the last five years, so the market appears to be rosy about its future. Ultimately, if the underlying trends persist, we wouldn't hold our breath on it being a multi-bagger going forward.

總之,揚州揚傑電子科技一直在向該業務投入更多資金,但該資本的回報率並未增加。然而,對於長期股東來說,該股在過去五年中爲他們帶來了令人難以置信的134%的回報,因此市場似乎對其未來持樂觀態度。歸根結底,如果潛在的趨勢持續下去,我們就不會屏住呼吸了,因爲它是未來的 “多管齊下”。

One more thing, we've spotted 2 warning signs facing Yangzhou Yangjie Electronic Technology that you might find interesting.

還有一件事,我們發現了面向揚州揚傑電子科技的兩個警告標誌,你可能會覺得有趣。

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。

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