<p>忽略一家公司的股价，有哪些潜在趋势表明该企业已经过了增长阶段？处于衰退中的企业通常有两个潜在趋势，首先是资本回报率（ROCE）下降，其次是资本使用基础下降。这表明该企业不仅在缩减其净资产的规模，而且其回报也在下降。话虽如此，经过简要观察，我们对 <strong>金狮亚太</strong>（SGX:BAZ）并不乐观，但让我们进一步调查。</p>
<p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</p>
<h2>理解资本回报率（ROCE）</h2>
<p>为了澄清，如果你不确定，ROCE 是评估公司在其业务中投资的资本所赚取的税前收入（以百分比形式）的指标。分析师使用这个公式来计算金狮亚太的 ROCE：</p>
<p><strong>资本回报率 = 税息前利润（EBIT）÷（总资产 - 流动负债）</strong></p>
<p>0.0024 = S$148k ÷ (S$74m - S$11m) <em>(基于截至 2024 年 12 月的过去十二个月数据)</em>。</p>
<p>因此，<strong>金狮亚太的 ROCE 为 0.2%。</strong> 最终，这是一项低回报，低于基础材料行业平均水平的 7.3%。</p>
<p>查看我们对金狮亚太的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/878732-roce-1-dark/1746659257562?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://images.simplywall.st/asset/chart/878732-roce-1-dark/1746659257562"/></p>
<p>SGX:BAZ 资本回报率 2025 年 5 月 7 日</p>
<p>虽然过去的表现并不能代表未来，但了解公司历史表现是有帮助的，这就是我们上面提供这张图表的原因。如果你想深入了解历史收益，请查看这些 <strong>免费</strong> 图表，详细说明金狮亚太的收入和现金流表现。</p>
<h2>金狮亚太的 ROCE 趋势告诉我们什么？</h2>
<p>就金狮亚太的历史 ROCE 变动而言，这一趋势并未激发信心。大约五年前，资本回报率为 1.0%，然而现在远低于这一水平，如我们所见。同时，企业所使用的资本在这段时间内基本保持平稳。由于回报在下降，而企业的资产使用量保持不变，这可能表明它是一家在过去五年中没有太多增长的成熟企业。因此，由于这些趋势通常不利于创造多倍收益，我们不会对金狮亚太的未来抱有太大希望。</p>
<p>在此期间，我们注意到流动负债与总资产的比率上升至 15%，这影响了 ROCE。如果流动负债没有像现在这样增加，ROCE 实际上可能会更低。请关注这个比率，因为如果这个指标过高，企业可能会面临一些新的风险。</p>
<h2>我们可以从金狮亚太的 ROCE 中学到什么</h2>
<p>最终，资本回报率在相同资本下的下降趋势通常并不是我们在看一只成长股的迹象。在过去五年中，长期股东的投资贬值了 21%，因此市场似乎也不喜欢这些趋势。除非这些指标出现向更积极轨迹的转变，否则我们会考虑其他选择。</p>
<p>金狮亚太确实存在一些风险，我们注意到 <strong>3 个警告信号</strong>（还有 1 个不容忽视的）我们认为你应该了解。</p>
<p>对于那些喜欢投资于 <strong>稳健公司</strong> 的人，查看这份 <strong>免费</strong> 的稳健资产负债表和高股本回报率公司的名单。</p>
<p>如果你想交易金狮亚太，请在专业人士信任的最低成本平台上开设账户，Interactive Brokers。</p>
<p>IBKR 在 200 多个国家和地区拥有客户，并可访问 160 个市场，让你可以通过一个集成账户交易股票、期权、期货、外汇、债券和基金。</p>
<p>享受无隐藏费用，无账户最低要求，外汇转换率低至 0.03%，远低于大多数经纪商提供的水平。</p>
<p>赞助内容</p>

金狮亚太

<p>狮子亚太 (SGX:BAZ) 显示出衰退的迹象，资本回报率 (ROCE) 仅为 0.2%，远低于行业平均水平 7.3%。在过去五年中，ROCE 从 1.0% 下降，尽管投入的资本保持稳定，但增长停滞不前。当前负债已上升至总资产的 15%，进一步影响了 ROCE。长期股东的投资贬值了 21%，这表明市场对公司未来缺乏信心，除非趋势有所改善</p>

<p>Ignoring the stock price of a company, what are the underlying trends that tell us a business is past the growth phase? Businesses in decline often have two underlying trends, firstly, a declining <em>return</em> on capital employed (ROCE) and a declining <em>base</em> of capital employed. This indicates to us that the business is not only shrinking the size of its net assets, but its returns are falling as well. Having said that, after a brief look, <strong>Lion Asiapac</strong> (SGX:BAZ) we aren't filled with optimism, but let's investigate further.</p>
<div class="lb-trans"><p>忽略一家公司的股价，有哪些潜在趋势表明该企业已经过了增长阶段？处于衰退中的企业通常有两个潜在趋势，首先是资本回报率（ROCE）下降，其次是资本使用基础下降。这表明该企业不仅在缩减其净资产的规模，而且其回报也在下降。话虽如此，经过简要观察，我们对 <strong>金狮亚太</strong>（SGX:BAZ）并不乐观，但让我们进一步调查。</p>
</div><p>This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality.</p>
<div class="lb-trans"><p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</p>
</div><h2>Understanding Return On Capital Employed (ROCE)</h2>
<div class="lb-trans"><h2>理解资本回报率（ROCE）</h2>
</div><p>Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for Lion Asiapac:</p>
<div class="lb-trans"><p>为了澄清，如果你不确定，ROCE 是评估公司在其业务中投资的资本所赚取的税前收入（以百分比形式）的指标。分析师使用这个公式来计算金狮亚太的 ROCE：</p>
</div><p><strong>Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)</strong></p>
<div class="lb-trans"><p><strong>资本回报率 = 税息前利润（EBIT）÷（总资产 - 流动负债）</strong></p>
</div><p>0.0024 = S$148k ÷ (S$74m - S$11m) <em>(Based on the trailing twelve months to December 2024)</em>.</p>
<div class="lb-trans"><p>0.0024 = S$148k ÷ (S$74m - S$11m) <em>(基于截至 2024 年 12 月的过去十二个月数据)</em>。</p>
</div><p>Therefore, <strong>Lion Asiapac has an ROCE of 0.2%.</strong> Ultimately, that's a low return and it under-performs the Basic Materials industry average of 7.3%.</p>
<div class="lb-trans"><p>因此，<strong>金狮亚太的 ROCE 为 0.2%。</strong> 最终，这是一项低回报，低于基础材料行业平均水平的 7.3%。</p>
</div><p>See our latest analysis for Lion Asiapac</p>
<div class="lb-trans"><p>查看我们对金狮亚太的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/878732-roce-1-dark/1746659257562" alt="" original-src="https://images.simplywall.st/asset/chart/878732-roce-1-dark/1746659257562"/></p>
<p>SGX:BAZ Return on Capital Employed May 7th 2025</p>
<div class="lb-trans"><p>SGX:BAZ 资本回报率 2025 年 5 月 7 日</p>
</div><p>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 want to delve into the historical earnings , check out these <strong>free</strong> graphs detailing revenue and cash flow performance of Lion Asiapac.</p>
<div class="lb-trans"><p>虽然过去的表现并不能代表未来，但了解公司历史表现是有帮助的，这就是我们上面提供这张图表的原因。如果你想深入了解历史收益，请查看这些 <strong>免费</strong> 图表，详细说明金狮亚太的收入和现金流表现。</p>
</div><h2>What Does the ROCE Trend For Lion Asiapac Tell Us?</h2>
<div class="lb-trans"><h2>金狮亚太的 ROCE 趋势告诉我们什么？</h2>
</div><p>In terms of Lion Asiapac's historical ROCE movements, the trend doesn't inspire confidence. About five years ago, returns on capital were 1.0%, however they're now substantially lower than that as we saw above. Meanwhile, capital employed in the business has stayed roughly the flat over the period. Since returns are falling and the business has the same amount of assets employed, this can suggest it's a mature business that hasn't had much growth in the last five years. So because these trends aren't typically conducive to creating a multi-bagger, we wouldn't hold our breath on Lion Asiapac becoming one if things continue as they have.</p>
<div class="lb-trans"><p>就金狮亚太的历史 ROCE 变动而言，这一趋势并未激发信心。大约五年前，资本回报率为 1.0%，然而现在远低于这一水平，如我们所见。同时，企业所使用的资本在这段时间内基本保持平稳。由于回报在下降，而企业的资产使用量保持不变，这可能表明它是一家在过去五年中没有太多增长的成熟企业。因此，由于这些趋势通常不利于创造多倍收益，我们不会对金狮亚太的未来抱有太大希望。</p>
</div><p>While on the subject, we noticed that the ratio of current liabilities to total assets has risen to 15%, which has impacted the ROCE. If current liabilities hadn't increased as much as they did, the ROCE could actually be even lower. Keep an eye on this ratio, because the business could encounter some new risks if this metric gets too high.</p>
<div class="lb-trans"><p>在此期间，我们注意到流动负债与总资产的比率上升至 15%，这影响了 ROCE。如果流动负债没有像现在这样增加，ROCE 实际上可能会更低。请关注这个比率，因为如果这个指标过高，企业可能会面临一些新的风险。</p>
</div><h2>What We Can Learn From Lion Asiapac's ROCE</h2>
<div class="lb-trans"><h2>我们可以从金狮亚太的 ROCE 中学到什么</h2>
</div><p>In the end, the trend of lower returns on the same amount of capital isn't typically an indication that we're looking at a growth stock. Long term shareholders who've owned the stock over the last five years have experienced a 21% depreciation in their investment, so it appears the market might not like these trends either. Unless there is a shift to a more positive trajectory in these metrics, we would look elsewhere.</p>
<div class="lb-trans"><p>最终，资本回报率在相同资本下的下降趋势通常并不是我们在看一只成长股的迹象。在过去五年中，长期股东的投资贬值了 21%，因此市场似乎也不喜欢这些趋势。除非这些指标出现向更积极轨迹的转变，否则我们会考虑其他选择。</p>
</div><p>Lion Asiapac does have some risks, we noticed <strong>3 warning signs</strong> (and 1 which shouldn't be ignored) we think you should know about.</p>
<div class="lb-trans"><p>金狮亚太确实存在一些风险，我们注意到 <strong>3 个警告信号</strong>（还有 1 个不容忽视的）我们认为你应该了解。</p>
</div><p>For those who like to invest in <strong>solid companies,</strong> check out this <strong>free</strong> list of companies with solid balance sheets and high returns on equity.</p>
<div class="lb-trans"><p>对于那些喜欢投资于 <strong>稳健公司</strong> 的人，查看这份 <strong>免费</strong> 的稳健资产负债表和高股本回报率公司的名单。</p>
</div><p>If you're looking to trade Lion Asiapac, open an account with the lowest-cost platform trusted by professionals, Interactive Brokers.</p>
<div class="lb-trans"><p>如果你想交易金狮亚太，请在专业人士信任的最低成本平台上开设账户，Interactive Brokers。</p>
</div><p>With clients in over 200 countries and territories, and access to 160 markets, IBKR lets you trade stocks, options, futures, forex, bonds and funds from a single integrated account.</p>
<div class="lb-trans"><p>IBKR 在 200 多个国家和地区拥有客户，并可访问 160 个市场，让你可以通过一个集成账户交易股票、期权、期货、外汇、债券和基金。</p>
</div><p>Enjoy no hidden fees, no account minimums, and FX conversion rates as low as 0.03%, far better than what most brokers offer.</p>
<div class="lb-trans"><p>享受无隐藏费用，无账户最低要求，外汇转换率低至 0.03%，远低于大多数经纪商提供的水平。</p>
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<div class="lb-trans"><p>赞助内容</p>
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金狮亚太（SGX:BAZ）可能面临公司规模缩小的风险