S.F. Holding (SZSE:002352) Will Want To Turn Around Its Return Trends
S.F. Holding (SZSE:002352) Will Want To Turn Around Its Return Trends
There are a few key trends to look for if we want to identify the next multi-bagger. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, 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. In light of that, when we looked at S.F. Holding (SZSE:002352) and its ROCE trend, we weren't exactly thrilled.
如果我们想确定下一个多功能装袋机，有一些关键趋势需要关注。通常，我们希望注意到增长的趋势 返回 在资本使用率（ROCE）方面，除此之外，还在扩大 基础 的已动用资本。基本上，这意味着一家公司有可以继续进行再投资的盈利计划，这是复合机的一个特征。有鉴于此，当我们查看顺丰控股（SZSE：002352）及其投资回报率走势时，我们并不感到非常兴奋。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率（ROCE）：这是什么？
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 S.F. Holding, this is the formula:
如果你以前没有与ROCE合作过，它可以衡量一家公司从其业务中使用的资本中产生的 “回报”（税前利润）。要计算顺丰控股的该指标，公式如下：
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）
0.076 = CN¥11b ÷ (CN¥222b - CN¥76b) (Based on the trailing twelve months to September 2023).
0.076 = CN¥11b ≤（CN¥222b-CN¥76b） （基于截至2023年9月的过去十二个月）。
So, S.F. Holding has an ROCE of 7.6%. On its own, that's a low figure but it's around the 7.2% average generated by the Logistics industry.
因此，顺丰控股的投资回报率为7.6％。就其本身而言，这是一个很低的数字，但约为物流行业产生的7.2％的平均水平。
Check out our latest analysis for S.F. Holding
查看我们对顺丰控股的最新分析
In the above chart we have measured S.F. Holding's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering S.F. Holding here for free.
在上面的图表中，我们对顺丰控股之前的投资回报率与之前的表现进行了比较，但可以说，未来更为重要。如果你愿意，你可以在这里免费查看报道顺丰控股的分析师的预测。
How Are Returns Trending?
退货趋势如何？
On the surface, the trend of ROCE at S.F. Holding doesn't inspire confidence. To be more specific, ROCE has fallen from 12% over the last five years. However it looks like S.F. Holding might be reinvesting for long term growth because while capital employed has increased, the company's sales haven't changed much in the last 12 months. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
从表面上看，顺丰控股的投资回报率趋势并不能激发信心。更具体地说，投资回报率已从过去五年的12％有所下降。但是，顺丰控股似乎正在进行再投资以实现长期增长，因为尽管资本使用量有所增加，但该公司的销售额在过去12个月中没有太大变化。值得关注该公司的收益，看看这些投资最终能否为利润做出贡献。
What We Can Learn From S.F. Holding's ROCE
我们可以从顺丰控股的投资回报率中学到什么
In summary, S.F. Holding is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. And investors may be recognizing these trends since the stock has only returned a total of 26% to shareholders over the last five years. So if you're looking for a multi-bagger, the underlying trends indicate you may have better chances elsewhere.
总而言之，顺丰控股正在将资金重新投资到业务中以实现增长，但不幸的是，销售额似乎还没有太大增长。投资者可能已经意识到这些趋势，因为该股在过去五年中仅为股东带来了26％的回报。因此，如果你正在寻找一款多功能游戏，那么潜在的趋势表明你在其他地方可能有更好的机会。
On a final note, we've found 1 warning sign for S.F. Holding that we think you should be aware of.
最后一点，我们发现顺丰控股有1个警告信号，我们认为你应该注意这些信号。
While S.F. Holding 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.
尽管顺丰控股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。在这里查看这份免费清单。
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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。