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We Like These Underlying Return On Capital Trends At China Wafer Level CSP (SHSE:603005)

We Like These Underlying Return On Capital Trends At China Wafer Level CSP (SHSE:603005)

我们喜欢中国晶圆级CSP(SHSE: 603005)的这些潜在资本回报率趋势
Simply Wall St ·  04/21 23:26

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base 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. With that in mind, we've noticed some promising trends at China Wafer Level CSP (SHSE:603005) so let's look a bit deeper.

要找到一只多袋装箱的股票,我们应该在企业中寻找哪些潜在趋势?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 所用资本的比例。简而言之,这些类型的企业是复合机器,这意味着他们不断以更高的回报率对收益进行再投资。考虑到这一点,我们注意到中国晶圆级CSP(SHSE: 603005)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 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. The formula for this calculation on China Wafer Level CSP is:

对于那些不确定投资回报率是什么的人,它衡量的是公司可以从其业务中使用的资本中获得的税前利润金额。中国晶圆级光热发电的计算公式为:

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)

0.0053 = CN¥22m ÷ (CN¥4.9b - CN¥654m) (Based on the trailing twelve months to September 2023).

0.0053 = 2200万元人民币 ÷(49亿元人民币-6.54亿元人民币) (基于截至2023年9月的过去十二个月)

Therefore, China Wafer Level CSP has an ROCE of 0.5%. In absolute terms, that's a low return and it also under-performs the Semiconductor industry average of 4.9%.

因此,中国晶圆级CSP的投资回报率为0.5%。从绝对值来看,这是一个低回报,其表现也低于半导体行业4.9%的平均水平。

roce
SHSE:603005 Return on Capital Employed April 22nd 2024
SHSE: 603005 2024 年 4 月 22 日动用资本回报率

Above you can see how the current ROCE for China Wafer Level CSP 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 China Wafer Level CSP for free.

上面你可以看到中国晶圆级CSP当前的投资回报率与之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,你可以免费查看分析师对中国晶圆级CSP的预测。

What The Trend Of ROCE Can Tell Us

ROCE 的趋势能告诉我们什么

Even though ROCE is still low in absolute terms, it's good to see it's heading in the right direction. Over the last five years, returns on capital employed have risen substantially to 0.5%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 119%. So we're very much inspired by what we're seeing at China Wafer Level CSP thanks to its ability to profitably reinvest capital.

尽管投资回报率的绝对值仍然很低,但很高兴看到它正朝着正确的方向前进。在过去五年中,已动用资本回报率大幅上升至0.5%。实际上,该公司每使用1美元资本就能赚更多的钱,值得注意的是,资本金额也增加了119%。因此,我们在中国晶圆级CSP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。

What We Can Learn From China Wafer Level CSP's ROCE

我们可以从中国晶圆级CSP的ROCE中学到什么

In summary, it's great to see that China Wafer Level CSP 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. Since the stock has returned a staggering 119% to shareholders over the last five years, it looks like investors are recognizing these changes. In light of that, we think it's worth looking further into this stock because if China Wafer Level CSP can keep these trends up, it could have a bright future ahead.

总而言之,很高兴看到中国晶圆级CSP能够持续地以更高的回报率进行资本再投资,从而提高回报率,因为这些是那些备受追捧的多袋机的一些关键要素。由于该股在过去五年中向股东回报了惊人的119%,因此投资者似乎已经意识到了这些变化。有鉴于此,我们认为值得进一步研究这只股票,因为如果中国晶圆级CSP能够保持这些趋势,它可能会有一个光明的未来。

One more thing to note, we've identified 2 warning signs with China Wafer Level CSP and understanding them should be part of your investment process.

还有一点需要注意的是,我们已经向中国晶圆级CSP确定了两个警告信号,并了解它们应该是您投资过程的一部分。

While China Wafer Level CSP 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.

尽管中国晶圆级CSP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。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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