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Investors Will Want Sansure Biotech's (SHSE:688289) Growth In ROCE To Persist

Investors Will Want Sansure Biotech's (SHSE:688289) Growth In ROCE To Persist

投资者希望Sansure Biotech公司(SHSE: 688289)的投资回报率持续增长
Simply Wall St ·  03/03 08:48

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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. So when we looked at Sansure Biotech (SHSE:688289) and its trend of ROCE, we really liked what we saw.

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 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。因此,当我们研究Sansure Biotech(上海证券交易所代码:688289)及其投资回报率趋势时,我们真的很喜欢我们所看到的。

Understanding Return On Capital Employed (ROCE)

了解资本使用回报率 (ROCE)

For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Sansure Biotech is:

对于那些不知道的人来说,ROCE是衡量公司年度税前利润(其回报率)的指标,相对于该业务使用的资本。在 Sansure Biotech 上进行此计算的公式为:

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)

0.059 = CN¥447m ÷ (CN¥8.3b - CN¥772m) (Based on the trailing twelve months to December 2023).

0.059 = 4.47亿元人民币 ÷(83亿元人民币-7.72亿元人民币) (基于截至2023年12月的过去十二个月)

Therefore, Sansure Biotech has an ROCE of 5.9%. In absolute terms, that's a low return and it also under-performs the Medical Equipment industry average of 9.2%.

因此,Sansure Biotech的投资回报率为5.9%。从绝对值来看,回报率很低,也低于医疗设备行业9.2%的平均水平。

roce
SHSE:688289 Return on Capital Employed March 3rd 2024
SHSE: 688289 2024 年 3 月 3 日动用资本回报率

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're interested in investigating Sansure Biotech's past further, check out this free graph covering Sansure Biotech's past earnings, revenue and cash flow.

虽然过去并不能代表未来,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。如果你有兴趣进一步调查Sansure Biotech的过去,请查看这张涵盖Sansure Biotech过去的收益、收入和现金流的免费图表。

So How Is Sansure Biotech's ROCE Trending?

那么,Sansure Biotech的投资回报率趋势如何呢?

Even though ROCE is still low in absolute terms, it's good to see it's heading in the right direction. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 5.9%. The amount of capital employed has increased too, by 1,710%. So we're very much inspired by what we're seeing at Sansure Biotech 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。数字显示,在过去五年中,所用资本的回报率已大幅增长至5.9%。使用的资本金额也增加了1,710%。因此,我们在Sansure Biotech所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。

On a related note, the company's ratio of current liabilities to total assets has decreased to 9.3%, which basically reduces it's funding from the likes of short-term creditors or suppliers. This tells us that Sansure Biotech has grown its returns without a reliance on increasing their current liabilities, which we're very happy with.

与此相关的是,该公司的流动负债占总资产的比率已降至9.3%,这基本上减少了来自短期债权人或供应商等机构的融资。这告诉我们,Sansure Biotech在不依赖增加流动负债的情况下增加了回报,我们对此感到非常满意。

What We Can Learn From Sansure Biotech's ROCE

我们可以从 Sansure Biotech 的 ROCE 中学到什么

In summary, it's great to see that Sansure Biotech 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. Given the stock has declined 67% in the last three years, this could be a good investment if the valuation and other metrics are also appealing. That being the case, research into the company's current valuation metrics and future prospects seems fitting.

总而言之,很高兴看到Sansure Biotech能够通过持续地以更高的回报率进行资本再投资来增加回报,因为这些是那些备受追捧的多袋包装商的一些关键要素。鉴于该股在过去三年中下跌了67%,如果估值和其他指标也具有吸引力,这可能是一项不错的投资。既然如此,对公司当前估值指标和未来前景的研究似乎很合适。

Sansure Biotech does have some risks though, and we've spotted 1 warning sign for Sansure Biotech that you might be interested in.

但是,Sansure Biotech确实存在一些风险,我们已经发现了你可能感兴趣的Sansure Biotech的一个警告信号。

While Sansure Biotech 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Sansure Biotech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。

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