<p>在投资的世界里，找到一家能够持续增长资本回报率的公司就像发现了一笔隐藏的财富。SUTL 企业（SGX:BHU）就是这样一颗宝石，以其在资本使用回报率（ROCE）方面的出色表现吸引了投资者的目光。让我们深入了解一下，看看为什么这家公司值得关注。</p>
<p><img src="https://imageproxy.pbkrs.com/https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a758103bd020001.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a758103bd020001.png"/></p>
<p>理解 ROCE</p>
<p>在我们深入探讨 SUTL 企业的表现之前，先来了解一下 ROCE 是什么。ROCE 衡量的是公司从其投入的资本中产生的 “回报”（税前利润）。其计算公式为：</p>
<p>\[ \text{ROCE} = \frac{\text{息税前利润（EBIT）}}{\text{总资产 - 流动负债}} \]</p>
<p>对于 SUTL 企业来说，截至 2024 年 12 月的过去十二个月的 ROCE 为 7.7%。单看这个数字可能显得较低，但与酒店行业的行业平均水平 3.1% 相比，显然 SUTL 企业做得相当不错。</p>
<p>增长故事</p>
<p>在过去五年中，SUTL 企业的 ROCE 增长了惊人的 190%。考虑到公司在此期间并没有显著增加资本基础，这一增长显得尤为令人印象深刻。这表明公司在利用现有资本产生回报方面变得更加高效。</p>
<p>推动增长的关键因素</p>
<p>1. 运营效率：SUTL 企业提高了运营效率，使其能够在不需要额外投资的情况下产生更高的回报。这从公司在过去 12 个月中保持 530 万新元的正自由现金流中可以看出，尽管资本支出为 149 万新元。</p>
<p>2. 利润率：公司的营业收入增加，推动了 ROCE 的提升。例如，截至 2024 年 12 月的过去十二个月，营业收入为 810 万新元，这在总资产减去流动负债（1.25 亿新元 - 2000 万新元 = 1.05 亿新元）中占据了相当大的比例。</p>
<p>3. 有效的资本配置：SUTL 企业能够有效地将其收益再投资于业务，从而实现更高的回报。这从公司在过去 12 个月中保持 530 万新元的正自由现金流中可以看出，尽管资本支出为 149 万新元。</p>
<p>增长的可持续性</p>
<p>虽然过去的表现令人印象深刻，但增长的可持续性才是投资者应关注的重点。多个因素影响 SUTL 企业增长的可持续性：</p>
<p>1. 持续改进：公司对运营效率持续改进的关注将对维持其 ROCE 至关重要。这需要不断的创新和适应市场变化。</p>
<p>2. 利润率：公司维持利润率的能力将至关重要。这取决于定价能力、成本控制和市场需求等因素。</p>
<p>3. 有效的资本配置：SUTL 企业需要继续做出明智的投资决策，以确保其资本得到有效利用。这包括投资于那些产生高于资本成本的项目。</p>
<p>4. 市场条件：经济状况、监管环境和竞争等外部因素也会影响这些因素的可持续性。例如，酒店行业的低迷可能会对 SUTL 企业的 ROCE 产生负面影响。</p>
<p>结论</p>
<p>SUTL 企业在过去五年中令人印象深刻的 ROCE 增长使其成为一个引人注目的投资机会。公司对运营效率、利润率和有效资本配置的关注推动了其业绩。虽然这种增长的可持续性取决于多个因素，但公司的业绩记录和战略举措表明，它在继续增长资本回报方面处于良好位置。</p>
<p>作为投资者，保持信息灵通并在做出任何投资决策之前进行彻底的尽职调查至关重要。SUTL 企业的表现证明了复利回报的力量，这是一家值得关注的公司。</p>

SUTL企业

<p>SUTL 企业 (SGX:BHU) 在资本回报率 (ROCE) 方面表现出色，2024 年 12 月的过去十二个月 ROCE 达到了 7.7%，显著高于行业平均水平的 3.1%。该公司在过去五年中 ROCE 增长了惊人的 190%，这得益于运营效率的提升、利润率的增加以及有效的资本配置。尽管过去的表现强劲，但可持续性依赖于持续改进、保持利润率、明智的投资决策以及外部市场条件。总体而言，SUTL 企业提供了一个引人注目的投资机会</p>

<p>In the world of investing, finding a company that can consistently grow its returns on capital is like discovering a hidden treasure. SUTL Enterprise (SGX:BHU) is one such gem that has caught the eye of investors with its impressive performance in Return on Capital Employed (ROCE). Let's dive into the details and see why this company is worth your attention.</p>
<div class="lb-trans"><p>在投资的世界里，找到一家能够持续增长资本回报率的公司就像发现了一笔隐藏的财富。SUTL 企业（SGX:BHU）就是这样一颗宝石，以其在资本使用回报率（ROCE）方面的出色表现吸引了投资者的目光。让我们深入了解一下，看看为什么这家公司值得关注。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a758103bd020001.png" alt="" original-src="https://lh-prod-oper-pub-opercenter.s3.amazonaws.com/discovery-image/compress-1a758103bd020001.png"/></p>
<p>Understanding ROCE</p>
<div class="lb-trans"><p>理解 ROCE</p>
</div><p>Before we delve into SUTL Enterprise's performance, let's understand what ROCE is. ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation is:</p>
<div class="lb-trans"><p>在我们深入探讨 SUTL 企业的表现之前，先来了解一下 ROCE 是什么。ROCE 衡量的是公司从其投入的资本中产生的 “回报”（税前利润）。其计算公式为：</p>
</div><p>\[ \text{ROCE} = \frac{\text{Earnings Before Interest and Tax (EBIT)}}{\text{Total Assets - Current Liabilities}} \]</p>
<div class="lb-trans"><p>\[ \text{ROCE} = \frac{\text{息税前利润（EBIT）}}{\text{总资产 - 流动负债}} \]</p>
</div><p>For SUTL Enterprise, the ROCE for the trailing twelve months to December 2024 is 7.7%. This might seem low on its own, but when compared to the industry average of 3.1% for the Hospitality sector, it's clear that SUTL Enterprise is doing something right.</p>
<div class="lb-trans"><p>对于 SUTL 企业来说，截至 2024 年 12 月的过去十二个月的 ROCE 为 7.7%。单看这个数字可能显得较低，但与酒店行业的行业平均水平 3.1% 相比，显然 SUTL 企业做得相当不错。</p>
</div><p>The Growth Story</p>
<div class="lb-trans"><p>增长故事</p>
</div><p>SUTL Enterprise has shown a remarkable 190% growth in its ROCE over the past five years. This growth is even more impressive when you consider that the company has managed to achieve this without significantly increasing its capital base. This indicates that the company has become more efficient in generating returns from its existing capital.</p>
<div class="lb-trans"><p>在过去五年中，SUTL 企业的 ROCE 增长了惊人的 190%。考虑到公司在此期间并没有显著增加资本基础，这一增长显得尤为令人印象深刻。这表明公司在利用现有资本产生回报方面变得更加高效。</p>
</div><p>Key Factors Driving Growth</p>
<div class="lb-trans"><p>推动增长的关键因素</p>
</div><p>1. Operational Efficiency: SUTL Enterprise has improved its operational efficiency, allowing it to generate higher returns without needing to make additional investments. This is evident from the company's ability to maintain a positive free cash flow of S$5.34 million in the last 12 months, despite capital expenditures of S$1.49 million.</p>
<div class="lb-trans"><p>1. 运营效率：SUTL 企业提高了运营效率，使其能够在不需要额外投资的情况下产生更高的回报。这从公司在过去 12 个月中保持 530 万新元的正自由现金流中可以看出，尽管资本支出为 149 万新元。</p>
</div><p>2. Profit Margins: The company's operating income has increased, contributing to a higher ROCE. For example, the operating income for the trailing twelve months to December 2024 was S$8.1 million, which is a significant portion of the total assets minus current liabilities (S$125 million - S$20 million = S$105 million).</p>
<div class="lb-trans"><p>2. 利润率：公司的营业收入增加，推动了 ROCE 的提升。例如，截至 2024 年 12 月的过去十二个月，营业收入为 810 万新元，这在总资产减去流动负债（1.25 亿新元 - 2000 万新元 = 1.05 亿新元）中占据了相当大的比例。</p>
</div><p>3. Effective Capital Allocation: SUTL Enterprise has been able to reinvest its earnings back into the business effectively, leading to higher returns. This is evident from the company's ability to maintain a positive free cash flow of S$5.34 million in the last 12 months, despite capital expenditures of S$1.49 million.</p>
<div class="lb-trans"><p>3. 有效的资本配置：SUTL 企业能够有效地将其收益再投资于业务，从而实现更高的回报。这从公司在过去 12 个月中保持 530 万新元的正自由现金流中可以看出，尽管资本支出为 149 万新元。</p>
</div><p>Sustainability of Growth</p>
<div class="lb-trans"><p>增长的可持续性</p>
</div><p>While the past performance is impressive, the sustainability of this growth is what investors should be focusing on. Several factors contribute to the sustainability of SUTL Enterprise's growth:</p>
<div class="lb-trans"><p>虽然过去的表现令人印象深刻，但增长的可持续性才是投资者应关注的重点。多个因素影响 SUTL 企业增长的可持续性：</p>
</div><p>1. Continuous Improvement: The company's focus on continuous improvement in operational efficiency will be crucial in maintaining its ROCE. This requires continuous innovation and adaptation to market changes.</p>
<div class="lb-trans"><p>1. 持续改进：公司对运营效率持续改进的关注将对维持其 ROCE 至关重要。这需要不断的创新和适应市场变化。</p>
</div><p>2. Profit Margins: The company's ability to maintain its profit margins will be crucial. This depends on factors such as pricing power, cost control, and market demand.</p>
<div class="lb-trans"><p>2. 利润率：公司维持利润率的能力将至关重要。这取决于定价能力、成本控制和市场需求等因素。</p>
</div><p>3. Effective Capital Allocation: SUTL Enterprise needs to continue making smart investment decisions to ensure that its capital is used effectively. This includes investing in projects that generate returns higher than the cost of capital.</p>
<div class="lb-trans"><p>3. 有效的资本配置：SUTL 企业需要继续做出明智的投资决策，以确保其资本得到有效利用。这包括投资于那些产生高于资本成本的项目。</p>
</div><p>4. Market Conditions: External factors such as economic conditions, regulatory environment, and competition can also impact the sustainability of these factors. For instance, a downturn in the hospitality industry could negatively affect SUTL Enterprise's ROCE.</p>
<div class="lb-trans"><p>4. 市场条件：经济状况、监管环境和竞争等外部因素也会影响这些因素的可持续性。例如，酒店行业的低迷可能会对 SUTL 企业的 ROCE 产生负面影响。</p>
</div><p>Conclusion</p>
<div class="lb-trans"><p>结论</p>
</div><p>SUTL Enterprise's impressive ROCE growth over the past five years makes it a compelling investment opportunity. The company's focus on operational efficiency, profit margins, and effective capital allocation has driven its performance. While the sustainability of this growth depends on several factors, the company's track record and strategic initiatives suggest that it is well-positioned to continue growing its returns on capital.</p>
<div class="lb-trans"><p>SUTL 企业在过去五年中令人印象深刻的 ROCE 增长使其成为一个引人注目的投资机会。公司对运营效率、利润率和有效资本配置的关注推动了其业绩。虽然这种增长的可持续性取决于多个因素，但公司的业绩记录和战略举措表明，它在继续增长资本回报方面处于良好位置。</p>
</div><p>As an investor, it's crucial to stay informed and conduct thorough due diligence before making any investment decisions. SUTL Enterprise's performance is a testament to the power of compounding returns, and it's a company worth keeping an eye on.</p>
<div class="lb-trans"><p>作为投资者，保持信息灵通并在做出任何投资决策之前进行彻底的尽职调查至关重要。SUTL 企业的表现证明了复利回报的力量，这是一家值得关注的公司。</p>
</div>

SUTL 企业：一个复利增长的机器