The Returns At Shenzhen XFH TechnologyLtd (SZSE:300890) Aren't Growing
The Returns At Shenzhen XFH TechnologyLtd (SZSE:300890) Aren't Growing
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base 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. Having said that, from a first glance at Shenzhen XFH TechnologyLtd (SZSE:300890) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
要找到一只多袋股票，我们应该在一家企业中寻找什么潜在趋势？首先，我们希望看到一个经过验证的退货关于已使用资本(ROCE)的增长，其次是扩张基地已动用资本的比例。如果你看到这个，通常意味着它是一家拥有出色商业模式和大量有利可图的再投资机会的公司。话虽如此，从第一眼看深圳市新丰科技有限公司(SZSE：300890)我们不会因为回报率的趋势而从椅子上跳起来，但让我们更深入地看看。
Return On Capital Employed (ROCE): What Is It?
资本回报率(ROCE)：它是什么？
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 Shenzhen XFH TechnologyLtd:
对于那些不知道的人来说，ROCE是一家公司的年度税前利润(其回报)相对于业务资本的衡量标准。分析师使用以下公式来计算深圳新风科技有限公司的股价：
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)
0.085 = CN¥197m ÷ (CN¥3.9b - CN¥1.6b) (Based on the trailing twelve months to September 2023).
0.085=人民币1.97亿元？(人民币39亿元-人民币16亿元)(根据截至2023年9月的往绩12个月计算)。
Therefore, Shenzhen XFH TechnologyLtd has an ROCE of 8.5%. In absolute terms, that's a low return, but it's much better than the Electrical industry average of 6.3%.
所以呢，深圳旭辉科技有限公司的净资产收益率为8.5%。按绝对值计算，这是一个较低的回报率，但比电气行业6.3%的平均水平要好得多。
Check out our latest analysis for Shenzhen XFH TechnologyLtd
查看我们对深圳XFH科技有限公司的最新分析
Historical performance is a great place to start when researching a stock so above you can see the gauge for Shenzhen XFH TechnologyLtd's ROCE against it's prior returns. If you're interested in investigating Shenzhen XFH TechnologyLtd's past further, check out this free graph of past earnings, revenue and cash flow.
在研究一只股票时，历史表现是一个很好的起点，因为在历史表现上方，你可以看到深圳XFH科技有限公司的ROCE相对于它之前的回报的衡量标准。如果您有兴趣进一步调查深圳XFH科技有限公司的过去，请查看以下内容免费过去收益、收入和现金流的图表。
What The Trend Of ROCE Can Tell Us
ROCE的走势告诉我们什么
The returns on capital haven't changed much for Shenzhen XFH TechnologyLtd in recent years. Over the past five years, ROCE has remained relatively flat at around 8.5% and the business has deployed 269% more capital into its operations. 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.
近年来，深圳旭辉科技股份有限公司的资本回报率变化不大。在过去五年中，净资产收益率相对持平，保持在8.5%左右，该业务在运营中投入的资本增加了269%。鉴于该公司增加了已动用资本的数量，这些投资似乎根本不能带来高的资本回报。
On a side note, Shenzhen XFH TechnologyLtd's current liabilities are still rather high at 40% 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. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.
另外，深圳旭辉科技有限公司的流动负债仍相当高，占总资产的40%。这可能会带来一些风险，因为该公司基本上是在相当大程度上依赖其供应商或其他类型的短期债权人运营的。虽然这不一定是一件坏事，但如果这一比例较低，它可能是有益的。
In Conclusion...
总之..。
Long story short, while Shenzhen XFH TechnologyLtd has been reinvesting its capital, the returns that it's generating haven't increased. And investors appear hesitant that the trends will pick up because the stock has fallen 41% in the last three years. Therefore based on the analysis done in this article, we don't think Shenzhen XFH TechnologyLtd has the makings of a multi-bagger.
长话短说，尽管深圳信丰科技有限公司一直在对其资本进行再投资，但它产生的回报并没有增加。投资者似乎对趋势是否会回升犹豫不决，因为该股在过去三年里下跌了41%。因此，根据本文的分析，我们并不认为深圳新丰科技有限公司具备多管齐下的条件。
One more thing to note, we've identified 1 warning sign with Shenzhen XFH TechnologyLtd and understanding this should be part of your investment process.
还有一件事需要注意，我们已经确定了1个警告标志了解这一点应该是您投资过程的一部分。
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.
对于那些喜欢投资于稳固的公司，看看这个免费资产负债表稳健、股本回报率高的公司名单。
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本文由Simply Wall St.撰写，具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论，我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议，也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意，我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。