China Railway Tielong Container Logistics (SHSE:600125) Will Want To Turn Around Its Return Trends
China Railway Tielong Container Logistics (SHSE:600125) Will Want To Turn Around Its Return Trends
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing 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 China Railway Tielong Container Logistics (SHSE:600125) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
如果我們想找到潛在的多袋裝袋機，通常有一些潛在的趨勢可以提供線索。首先，我們想找一個正在成長的 返回 關於已用資本（ROCE），然後除此之外，還不斷增加 基礎 所用資本的百分比。歸根結底，這表明這是一家以越來越高的回報率對利潤進行再投資的企業。話雖如此，乍一看 中鐵鐵龍集裝箱物流 (SHSE: 600125) 我們並不是在忽視回報趨勢，但讓我們更深入地了解一下。
Return On Capital Employed (ROCE): What Is It?
資本使用回報率（ROCE）：這是什麼？
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 Railway Tielong Container Logistics is:
對於那些不確定ROCE是什麼的人，它衡量的是公司從業務中使用的資本中可以產生的稅前利潤額。中鐵鐵龍集裝箱物流的計算公式爲：
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
使用資本回報率 = 利息和稅前收益 (EBIT) ÷（總資產-流動負債）
0.062 = CN¥514m ÷ (CN¥9.8b - CN¥1.5b) (Based on the trailing twelve months to September 2023).
0.062 = CN¥514m ≤（CN¥9.8b-CN¥1.5b） （基於截至2023年9月的過去十二個月）。
So, China Railway Tielong Container Logistics has an ROCE of 6.2%. In absolute terms, that's a low return, but it's much better than the Transportation industry average of 3.3%.
所以， 中鐵鐵龍集裝箱物流的投資回報率爲6.2％。 從絕對值來看，這是一個低迴報，但比運輸行業3.3％的平均水平要好得多。
View our latest analysis for China Railway Tielong Container Logistics
查看我們對中鐵鐵龍集裝箱物流的最新分析
Above you can see how the current ROCE for China Railway Tielong Container Logistics 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 Railway Tielong Container Logistics here for free.
上面你可以看到中鐵鐵龍集裝箱物流目前的投資回報率與之前的資本回報率相比如何，但從過去你能看出來只有很多。如果你願意，可以在這裏查看報道中鐵鐵龍集裝箱物流的分析師的預測 免費。
The Trend Of ROCE
ROCE 的趨勢
In terms of China Railway Tielong Container Logistics' historical ROCE movements, the trend isn't fantastic. To be more specific, ROCE has fallen from 10% over the last five years. On the other hand, the company has been employing more capital without a corresponding improvement in sales in the last year, which could suggest these investments are longer term plays. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
就中鐵鐵龍集裝箱物流的歷史投資回報率走勢而言，這種趨勢並不理想。更具體地說，投資回報率已從過去五年的10％有所下降。另一方面，去年，該公司一直在使用更多資金，但銷售額沒有相應改善，這可能表明這些投資是長期投資。值得關注該公司的收益，看看這些投資最終能否爲利潤做出貢獻。
On a side note, China Railway Tielong Container Logistics has done well to pay down its current liabilities to 16% of total assets. So we could link some of this to the decrease in ROCE. 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，中鐵鐵龍集裝箱物流在將其流動負債償還至總資產的16％方面做得很好。因此，我們可以將其中一些與投資回報率的下降聯繫起來。更重要的是，這可以降低業務風險的某些方面，因爲現在該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創造投資回報的效率，因爲它現在用自己的資金爲更多的業務提供資金。
The Bottom Line
底線
To conclude, we've found that China Railway Tielong Container Logistics is reinvesting in the business, but returns have been falling. Since the stock has declined 15% over the last five years, investors may not be too optimistic on this trend improving either. On the whole, we aren't too inspired by the underlying trends and we think there may be better chances of finding a multi-bagger elsewhere.
總而言之，我們發現中鐵鐵龍集裝箱物流正在對該業務進行再投資，但回報一直在下降。由於該股在過去五年中下跌了15％，因此投資者也可能對這種改善趨勢不太樂觀。總的來說，我們並沒有受到潛在趨勢的啓發，我們認爲在其他地方找到多功能機型的可能性可能更大。
One final note, you should learn about the 2 warning signs we've spotted with China Railway Tielong Container Logistics (including 1 which can't be ignored) .
最後一點，你應該了解一下 2 個警告標誌 我們發現了中鐵鐵龍集裝箱物流（包括一個不容忽視的）。
While China Railway Tielong Container Logistics isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
雖然中鐵鐵龍集裝箱物流的回報率不高，但看看這個 免費的 資產負債表穩健且股本回報率高的公司名單。
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