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Juneyao Grand Healthy DrinksCo.Ltd (SHSE:605388) Will Be Hoping To Turn Its Returns On Capital Around

Juneyao Grand Healthy DrinksCo.Ltd (SHSE:605388) Will Be Hoping To Turn Its Returns On Capital Around

Juneyao Grand Healthy DrinksCo.Ltd(SHSE: 605388)希望扭轉其資本回報率
Simply Wall St ·  02/24 20:19

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. However, after investigating Juneyao Grand Healthy DrinksCo.Ltd (SHSE:605388), we don't think it's current trends fit the mold of a multi-bagger.

如果我們想找到一隻可以長期成倍增長的股票,我們應該尋找哪些潛在趨勢?除其他外,我們希望看到兩件事;首先,成長 返回 論資本使用率(ROCE),其次是公司的擴張 金額 所用資本的比例。簡而言之,這些類型的企業是複合機器,這意味着他們不斷以更高的回報率對收益進行再投資。但是,在調查了Juneyao Grand Healthy Drinksco.Ltd(上海證券交易所代碼:605388)之後,我們認爲目前的趨勢不符合多袋裝商的模式。

Understanding Return On Capital Employed (ROCE)

了解資本使用回報率 (ROCE)

Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. The formula for this calculation on Juneyao Grand Healthy DrinksCo.Ltd is:

爲了澄清一下你是否不確定,ROCE是評估公司從投資於其業務的資本中獲得多少稅前收入(按百分比計算)的指標。在 Juneyao Grand Healthy Drinksco.LTD 上進行此計算的公式爲:

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)

0.042 = CN¥84m ÷ (CN¥2.4b - CN¥358m) (Based on the trailing twelve months to September 2023).

0.042 = 8400萬元人民幣 ÷(24億元人民幣-3.58億元人民幣) (基於截至2023年9月的過去十二個月)

Thus, Juneyao Grand Healthy DrinksCo.Ltd has an ROCE of 4.2%. Ultimately, that's a low return and it under-performs the Food industry average of 7.6%.

因此,Juneyao Grand Healthy DrinksCo.Ltd的投資回報率爲4.2%。歸根結底,這是一個低迴報,其表現低於食品行業7.6%的平均水平。

roce
SHSE:605388 Return on Capital Employed February 25th 2024
SHSE: 605388 2024 年 2 月 25 日動用資本回報率

In the above chart we have measured Juneyao Grand Healthy DrinksCo.Ltd'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 Juneyao Grand Healthy DrinksCo.Ltd .

在上圖中,我們將Juneyao Grand Healthy Drinksco.Ltd之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Juneyao Grand Healthy Drinksco.Ltd提供的免費分析師報告。

So How Is Juneyao Grand Healthy DrinksCo.Ltd's ROCE Trending?

那麼,Juneyao Grand Healthy Drinksco.Ltd 的 ROCE 趨勢如何呢?

On the surface, the trend of ROCE at Juneyao Grand Healthy DrinksCo.Ltd doesn't inspire confidence. To be more specific, ROCE has fallen from 44% over the last five years. Although, given both revenue and the amount of assets employed in the business have increased, it could suggest the company is investing in growth, and the extra capital has led to a short-term reduction in ROCE. If these investments prove successful, this can bode very well for long term stock performance.

從表面上看,Juneyao Grand Healthy Drinksco.LTD的ROCE趨勢並不能激發信心。更具體地說,投資回報率已從過去五年的44%下降了。儘管考慮到該業務的收入和資產數量都有所增加,但這可能表明該公司正在投資增長,而額外的資本導致了投資回報率的短期下降。如果這些投資被證明是成功的,這對長期股票表現來說可能是個好兆頭。

On a side note, Juneyao Grand Healthy DrinksCo.Ltd has done well to pay down its current liabilities to 15% of total assets. That could partly explain why the ROCE has dropped. What's more, this can reduce some aspects of risk to the business because now the company's suppliers or short-term creditors are funding less of its operations. Some would claim this reduces the business' efficiency at generating ROCE since it is now funding more of the operations with its own money.

順便說一句,Juneyao Grand Healthy Drinksco.Ltd在將其流動負債償還至總資產的15%方面做得很好。這可以部分解釋投資回報率下降的原因。更重要的是,這可以降低業務風險的某些方面,因爲現在公司的供應商或短期債權人爲其運營提供的資金減少了。有人會聲稱這降低了企業產生投資回報的效率,因爲該公司現在正在用自己的資金爲更多的業務提供資金。

What We Can Learn From Juneyao Grand Healthy DrinksCo.Ltd's ROCE

我們可以從 Juneyao Grand Healthy Drinksco.Ltd 的 ROCE 中學到什麼

While returns have fallen for Juneyao Grand Healthy DrinksCo.Ltd in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. These growth trends haven't led to growth returns though, since the stock has fallen 48% over the last three years. As a result, we'd recommend researching this stock further to uncover what other fundamentals of the business can show us.

儘管近來Juneyao Grand Healthy Drinksco.Ltd的回報率有所下降,但令我們感到鼓舞的是,銷售額正在增長,該業務正在對其業務進行再投資。但是,這些增長趨勢並未帶來增長回報,因爲該股在過去三年中下跌了48%。因此,我們建議進一步研究這隻股票,以發現該業務的其他基本面可以向我們展示什麼。

If you'd like to know more about Juneyao Grand Healthy DrinksCo.Ltd, we've spotted 3 warning signs, and 1 of them is concerning.

如果你想進一步了解Juneyao Grand Healthy Drinksco.Ltd,我們已經發現了3個警告信號,其中一個令人擔憂。

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.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
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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