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XJ Electric (SZSE:000400) Might Have The Makings Of A Multi-Bagger

XJ Electric (SZSE:000400) Might Have The Makings Of A Multi-Bagger

XJ Electric(深圳证券交易所股票代码:000400)可能具有多功能装袋机的优势
Simply Wall St ·  04/16 01:01

What are the early trends we should look for to identify a stock that could multiply in value over the long term? 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. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. With that in mind, we've noticed some promising trends at XJ Electric (SZSE:000400) so let's look a bit deeper.

要确定一只可以长期成倍增长的股票,我们应该寻找哪些早期趋势?在一个完美的世界中,我们希望看到一家公司向其业务投入更多资本,理想情况下,从这些资本中获得的回报也在增加。如果你看到这一点,这通常意味着它是一家拥有良好商业模式和大量盈利再投资机会的公司。考虑到这一点,我们注意到XJ Electric(深圳证券交易所代码:000400)的一些令人鼓舞的趋势,所以让我们更深入地了解一下。

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

资本使用回报率(ROCE):这是什么?

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. Analysts use this formula to calculate it for XJ Electric:

对于那些不知道的人来说,ROCE是衡量公司年度税前利润(其回报率)的指标,相对于该业务使用的资本。分析师使用这个公式来计算 XJ Electric 的值:

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

已动用资本回报率 = 息税前收益 (EBIT) ¥(总资产-流动负债)

0.093 = CN¥1.1b ÷ (CN¥22b - CN¥9.9b) (Based on the trailing twelve months to December 2023).

0.093 = 11亿元人民币 ÷(22亿元人民币-99亿元人民币) (基于截至2023年12月的过去十二个月)

So, XJ Electric has an ROCE of 9.3%. In absolute terms, that's a low return, but it's much better than the Electrical industry average of 6.5%.

因此,XJ Electric的投资回报率为9.3%。从绝对值来看,回报率很低,但比电气行业6.5%的平均水平要好得多。

roce
SZSE:000400 Return on Capital Employed April 16th 2024
SZSE: 000400 2024 年 4 月 16 日动用资本回报率

Above you can see how the current ROCE for XJ Electric 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 XJ Electric for free.

在上面你可以看到XJ Electric当前的投资回报率与其先前的资本回报率相比如何,但从过去可以看出来的只有那么多。如果你愿意,你可以免费查看报道XJ Electric的分析师的预测。

What The Trend Of ROCE Can Tell Us

ROCE 的趋势能告诉我们什么

We're glad to see that ROCE is heading in the right direction, even if it is still low at the moment. Over the last five years, returns on capital employed have risen substantially to 9.3%. Basically the business is earning more per dollar of capital invested and in addition to that, 44% more capital is being employed now too. So we're very much inspired by what we're seeing at XJ Electric thanks to its ability to profitably reinvest capital.

我们很高兴看到投资回报率正朝着正确的方向前进,尽管目前投资回报率仍然很低。在过去五年中,已动用资本回报率大幅上升至9.3%。基本上,企业每投资1美元的资本就能获得更多的收入,除此之外,现在使用的资本也增加了44%。因此,我们在XJ Electric看到的情况给我们带来了极大的启发,这要归功于它能够盈利地进行资本再投资。

On a side note, XJ Electric's current liabilities are still rather high at 45% of total assets. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.

顺便说一句,XJ电气的流动负债仍然相当高,占总资产的45%。这可能会带来一些风险,因为该公司的运营基本上在很大程度上依赖其供应商或其他类型的短期债权人。理想情况下,我们希望看到这种情况减少,因为这将意味着减少承担风险的债务。

The Bottom Line On XJ Electric's ROCE

XJ Electric 投资回报率的底线

In summary, it's great to see that XJ Electric can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. And a remarkable 164% total return over the last five years tells us that investors are expecting more good things to come in the future. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.

总而言之,很高兴看到XJ Electric能够通过持续地以更高的回报率进行资本再投资来增加回报,因为这些是那些备受追捧的多袋机的一些关键要素。过去五年中惊人的164%总回报率告诉我们,投资者预计未来还会有更多好事发生。话虽如此,我们仍然认为前景良好的基本面意味着公司值得进一步的尽职调查。

One more thing, we've spotted 1 warning sign facing XJ Electric that you might find interesting.

还有一件事,我们发现了面向XJ Electric的1个警告标志,你可能会觉得有趣。

While XJ Electric 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.

尽管XJ Electric目前可能无法获得最高的回报,但我们编制了一份目前股本回报率超过25%的公司名单。在这里查看这个免费清单。

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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.

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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

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