share_log

Maxvision Technology (SZSE:002990) Will Want To Turn Around Its Return Trends

Maxvision Technology (SZSE:002990) Will Want To Turn Around Its Return Trends

盛視科技(深圳證券交易所:002990)將希望扭轉其回報趨勢
Simply Wall St ·  03/06 17:41

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Having said that, from a first glance at Maxvision Technology (SZSE:002990) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.

尋找具有大幅增長潛力的企業並不容易,但如果我們看幾個關鍵的財務指標,這是可能的。通常,我們希望注意到增長的趨勢 返回 在資本使用率(ROCE)方面,除此之外,還在擴大 基礎 所用資本的比例。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。話雖如此,乍一看盛視科技(深圳證券交易所:002990),我們並不是對回報趨勢不屑一顧,但讓我們更深入地了解一下。

What Is Return On Capital Employed (ROCE)?

什麼是資本使用回報率(ROCE)?

For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for Maxvision Technology, this is the formula:

對於那些不確定ROCE是什麼的人,它衡量的是公司從其業務中使用的資本中可以產生的稅前利潤金額。要計算盛視科技的這個指標,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)

0.062 = CN¥145m ÷ (CN¥3.4b - CN¥1.1b) (Based on the trailing twelve months to September 2023).

0.062 = 1.45億元人民幣 ÷(34億元人民幣-11億元人民幣) (基於截至2023年9月的過去十二個月)

Therefore, Maxvision Technology has an ROCE of 6.2%. In absolute terms, that's a low return but it's around the Electronic industry average of 5.3%.

因此,盛視科技的投資回報率爲6.2%。從絕對值來看,回報率很低,但約爲電子行業的平均水平5.3%。

roce
SZSE:002990 Return on Capital Employed March 6th 2024
SZSE: 002990 2024 年 3 月 6 日動用資本回報率

Above you can see how the current ROCE for Maxvision Technology compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Maxvision Technology .

上面你可以看到盛視科技當前的投資回報率與其先前的資本回報率相比如何,但從過去可以看出來的只有那麼多。如果你想了解分析師對未來的預測,你應該查看我們的免費Maxvision Technology分析師報告。

What Can We Tell From Maxvision Technology's ROCE Trend?

我們可以從盛視科技的投資回報率趨勢中得出什麼?

When we looked at the ROCE trend at Maxvision Technology, we didn't gain much confidence. Around five years ago the returns on capital were 35%, but since then they've fallen to 6.2%. 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.

當我們觀察盛視科技的投資回報率趨勢時,我們並沒有獲得太大的信心。大約五年前,資本回報率爲35%,但此後已降至6.2%。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是個好兆頭。

On a side note, Maxvision Technology has done well to pay down its current liabilities to 32% of total assets. That could partly explain why the ROCE has dropped. Effectively this means their suppliers or short-term creditors are funding less of the business, which reduces some elements of risk. 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,盛視科技在將其流動負債償還至總資產的32%方面做得很好。這可以部分解釋投資回報率下降的原因。實際上,這意味着他們的供應商或短期債權人減少了對企業的融資,從而降低了某些風險因素。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 Maxvision Technology's ROCE

我們可以從盛視科技的投資回報率中學到什麼

In summary, despite lower returns in the short term, we're encouraged to see that Maxvision Technology is reinvesting for growth and has higher sales as a result. These growth trends haven't led to growth returns though, since the stock has fallen 22% over the last three years. So we think it'd be worthwhile to look further into this stock given the trends look encouraging.

總而言之,儘管短期內回報較低,但令我們感到鼓舞的是,盛視科技正在進行再投資以實現增長,從而提高了銷售額。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22%。因此,鑑於趨勢令人鼓舞,我們認爲值得進一步研究該股。

While Maxvision Technology doesn't shine too bright in this respect, it's still worth seeing if the company is trading at attractive prices. You can find that out with our FREE intrinsic value estimation for 002990 on our platform.

儘管盛視科技在這方面的表現並不太明顯,但該公司是否以誘人的價格進行交易仍然值得一看。您可以在我們的平台上通過我們對002990的免費內在價值估算中找到答案。

While Maxvision Technology isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.

儘管盛視科技的回報率並不高,但請查看這份免費清單,列出了資產負債表穩健的股本回報率高的公司。

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
    搶先評論