Anhui Quanchai Engine (SHSE:600218) Is Doing The Right Things To Multiply Its Share Price
Anhui Quanchai Engine (SHSE:600218) Is Doing The Right Things To Multiply Its Share Price
There are a few key trends to look for if we want to identify the next multi-bagger. 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. So on that note, Anhui Quanchai Engine (SHSE:600218) looks quite promising in regards to its trends of return on capital.
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。首先，我们希望看到经过验证的 返回 关于正在增加的资本使用率（ROCE），其次是扩大 基础 已动用资本的百分比。如果你看到这一点，那通常意味着它是一家拥有良好商业模式和大量盈利再投资机会的公司。因此，就资本回报率趋势而言，安徽全柴发动机（SHSE：600218）看起来相当乐观。
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. The formula for this calculation on Anhui Quanchai Engine is:
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）。安徽全柴发动机的计算公式为：
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）
0.0022 = CN¥7.3m ÷ (CN¥5.9b - CN¥2.6b) (Based on the trailing twelve months to September 2023).
0.0022 = 730万元人民币 ≤（CN¥5.9b——CN¥2.6b） （基于截至2023年9月的过去十二个月）。
Thus, Anhui Quanchai Engine has an ROCE of 0.2%. In absolute terms, that's a low return and it also under-performs the Machinery industry average of 6.1%.
因此，安徽全柴发动机的投资回报率为0.2％。从绝对值来看，这是一个低回报，而且表现也低于机械行业6.1％的平均水平。
See our latest analysis for Anhui Quanchai Engine
查看我们对安徽全柴发动机的最新分析
While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you'd like to look at how Anhui Quanchai Engine has performed in the past in other metrics, you can view this free graph of past earnings, revenue and cash flow.
虽然过去不能代表未来，但了解一家公司的历史表现可能会有所帮助，这就是我们上面有这张图表的原因。如果你想看看安徽全柴发动机过去在其他指标上的表现，你可以查看这张免费的过去收益、收入和现金流图表。
What Does the ROCE Trend For Anhui Quanchai Engine Tell Us?
安徽全柴发动机的ROCE趋势告诉我们什么？
Anhui Quanchai Engine has recently broken into profitability so their prior investments seem to be paying off. Shareholders would no doubt be pleased with this because the business was loss-making five years ago but is is now generating 0.2% on its capital. Not only that, but the company is utilizing 65% more capital than before, but that's to be expected from a company trying to break into profitability. This can tell us that the company has plenty of reinvestment opportunities that are able to generate higher returns.
安徽全柴发动机最近实现了盈利，因此他们之前的投资似乎得到了回报。毫无疑问，股东们会对此感到满意，因为该企业在五年前亏损，但现在其资本创造了0.2％。不仅如此，该公司使用的资本比以前增加了65％，但对于一家试图实现盈利能力的公司来说，这是可以预料的。这可以告诉我们，该公司拥有大量能够产生更高回报的再投资机会。
On a separate but related note, it's important to know that Anhui Quanchai Engine has a current liabilities to total assets ratio of 43%, which we'd consider pretty high. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.
另一方面，重要的是要知道安徽全柴发动机的流动负债与总资产的比率为43％，我们认为这个比率相当高。这实际上意味着供应商（或短期债权人）正在为企业的很大一部分提供资金，因此请注意，这可能会带来一些风险因素。虽然这不一定是坏事，但如果这个比率较低，可能会有好处。
The Bottom Line
底线
Long story short, we're delighted to see that Anhui Quanchai Engine's reinvestment activities have paid off and the company is now profitable. And a remarkable 117% total return over the last five years tells us that investors are expecting more good things to come in the future. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.
长话短说，我们很高兴看到安徽全柴发动机的再投资活动得到了回报，公司现在已经实现盈利。在过去五年中，117％的惊人总回报率告诉我们，投资者预计未来会有更多的好处。因此，鉴于该股已证明其趋势乐观，值得进一步研究该公司，看看这些趋势是否可能持续下去。
One more thing to note, we've identified 2 warning signs with Anhui Quanchai Engine and understanding these should be part of your investment process.
还有一点需要注意，我们已经确定了安徽全柴引擎的两个警告信号，理解这些信号应该成为您投资过程的一部分。
While Anhui Quanchai Engine 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.
尽管安徽全柴发动机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。
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