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Investors Will Want Shandong Bohui Paper IndustryLtd's (SHSE:600966) Growth In ROCE To Persist

Investors Will Want Shandong Bohui Paper IndustryLtd's (SHSE:600966) Growth In ROCE To Persist

投資者希望山東博彙紙業有限公司(上海證券交易所代碼:600966)的投資回報率持續增長
Simply Wall St ·  05/01 09:40

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. So on that note, Shandong Bohui Paper IndustryLtd (SHSE:600966) looks quite promising in regards to its trends of return on capital.

我們應該尋找哪些趨勢?我們想確定可以長期價值成倍增長的股票?除其他外,我們希望看到兩件事;首先,成長 返回 論資本使用率(ROCE),其次是公司的擴張 金額 所用資本的比例。基本上,這意味着公司擁有可以繼續進行再投資的盈利計劃,這是複合機器的特徵。因此,從這個角度來看,山東博彙紙業有限公司(SHSE: 600966)的資本回報率趨勢看起來相當樂觀。

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. To calculate this metric for Shandong Bohui Paper IndustryLtd, 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。要計算山東博彙紙業有限公司的這一指標,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)

0.14 = CN¥1.4b ÷ (CN¥23b - CN¥14b) (Based on the trailing twelve months to March 2024).

0.14 = 14億元人民幣 ÷(23億元人民幣-14億元人民幣) (基於截至2024年3月的過去十二個月)

Therefore, Shandong Bohui Paper IndustryLtd has an ROCE of 14%. In absolute terms, that's a satisfactory return, but compared to the Forestry industry average of 5.0% it's much better.

因此,山東博彙紙業有限公司的投資回報率爲14%。從絕對值來看,這是一個令人滿意的回報,但與林業行業平均水平的5.0%相比,回報要好得多。

roce
SHSE:600966 Return on Capital Employed May 1st 2024
SHSE: 600966 2024 年 5 月 1 日動用資本回報率

In the above chart we have measured Shandong Bohui Paper IndustryLtd's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Shandong Bohui Paper IndustryLtd .

在上圖中,我們將山東博彙紙業有限公司之前的投資回報率與之前的業績進行了對比,但可以說,未來更爲重要。如果你想了解分析師對未來的預測,你應該查看我們爲山東博彙紙業有限公司提供的免費分析師報告。

How Are Returns Trending?

退貨趨勢如何?

Shandong Bohui Paper IndustryLtd's ROCE growth is quite impressive. The figures show that over the last five years, ROCE has grown 113% whilst employing roughly the same amount of capital. Basically the business is generating higher returns from the same amount of capital and that is proof that there are improvements in the company's efficiencies. The company is doing well in that sense, and it's worth investigating what the management team has planned for long term growth prospects.

山東博彙紙業有限公司的投資回報率增長相當可觀。數字顯示,在過去五年中,ROCE增長了113%,同時僱用了大致相同數量的資本。基本上,該業務正在從相同數量的資本中獲得更高的回報,這證明了公司的效率有所提高。從這個意義上講,該公司表現良好,值得研究管理團隊對長期增長前景的計劃。

On a side note, Shandong Bohui Paper IndustryLtd's current liabilities are still rather high at 58% of total assets. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. While it's not necessarily a bad thing, it can be beneficial if this ratio is lower.

順便說一句,山東博彙紙業有限公司的流動負債仍然相當高,佔總資產的58%。這可能會帶來一些風險,因爲該公司的運營基本上在很大程度上依賴其供應商或其他類型的短期債權人。雖然這不一定是壞事,但如果這個比率較低,可能會有好處。

Our Take On Shandong Bohui Paper IndustryLtd's ROCE

我們對山東博彙紙業有限公司投資回報率的看法

To sum it up, Shandong Bohui Paper IndustryLtd is collecting higher returns from the same amount of capital, and that's impressive. And investors seem to expect more of this going forward, since the stock has rewarded shareholders with a 58% return over the last five years. 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.

總而言之,山東博彙紙業有限公司正在從相同數量的資本中獲得更高的回報,這令人印象深刻。投資者似乎對未來有更多期望,因爲該股在過去五年中爲股東提供了58%的回報。因此,鑑於該股已證明其趨勢令人鼓舞,值得進一步研究該公司,看看這些趨勢是否可能持續下去。

One more thing to note, we've identified 1 warning sign with Shandong Bohui Paper IndustryLtd and understanding this should be part of your investment process.

還有一件事需要注意,我們已經向山東博彙紙業有限公司確定了1個警告信號,我們知道這應該是您投資過程的一部分。

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

儘管山東博彙紙業有限公司的回報率並不高,但請查看這份免費的股本回報率高、資產負債表穩健的公司名單。

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。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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