<p>忽略一家公司的股價，有哪些潛在趨勢表明該企業已經過了增長階段？處於衰退中的企業通常有兩個潛在趨勢，首先是資本回報率（ROCE）下降，其次是資本使用基礎下降。這表明該企業不僅在縮減其淨資產的規模，而且其回報也在下降。話雖如此，經過簡要觀察，我們對 <strong>金獅亞太</strong>（SGX:BAZ）並不樂觀，但讓我們進一步調查。</p>
<p>這項技術可能會取代計算機：發現 20 只正在努力使量子計算成為現實的股票。</p>
<h2>理解資本回報率（ROCE）</h2>
<p>為了澄清，如果你不確定，ROCE 是評估公司在其業務中投資的資本所賺取的税前收入（以百分比形式）的指標。分析師使用這個公式來計算金獅亞太的 ROCE：</p>
<p><strong>資本回報率 = 税息前利潤（EBIT）÷（總資產 - 流動負債）</strong></p>
<p>0.0024 = S$148k ÷ (S$74m - S$11m) <em>(基於截至 2024 年 12 月的過去十二個月數據)</em>。</p>
<p>因此，<strong>金獅亞太的 ROCE 為 0.2%。</strong> 最終，這是一項低迴報，低於基礎材料行業平均水平的 7.3%。</p>
<p>查看我們對金獅亞太的最新分析</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 資本回報率 2025 年 5 月 7 日</p>
<p>雖然過去的表現並不能代表未來，但瞭解公司歷史表現是有幫助的，這就是我們上面提供這張圖表的原因。如果你想深入瞭解歷史收益，請查看這些 <strong>免費</strong> 圖表，詳細説明金獅亞太的收入和現金流表現。</p>
<h2>金獅亞太的 ROCE 趨勢告訴我們什麼？</h2>
<p>就金獅亞太的歷史 ROCE 變動而言，這一趨勢並未激發信心。大約五年前，資本回報率為 1.0%，然而現在遠低於這一水平，如我們所見。同時，企業所使用的資本在這段時間內基本保持平穩。由於回報在下降，而企業的資產使用量保持不變，這可能表明它是一家在過去五年中沒有太多增長的成熟企業。因此，由於這些趨勢通常不利於創造多倍收益，我們不會對金獅亞太的未來抱有太大希望。</p>
<p>在此期間，我們注意到流動負債與總資產的比率上升至 15%，這影響了 ROCE。如果流動負債沒有像現在這樣增加，ROCE 實際上可能會更低。請關注這個比率，因為如果這個指標過高，企業可能會面臨一些新的風險。</p>
<h2>我們可以從金獅亞太的 ROCE 中學到什麼</h2>
<p>最終，資本回報率在相同資本下的下降趨勢通常並不是我們在看一隻成長股的跡象。在過去五年中，長期股東的投資貶值了 21%，因此市場似乎也不喜歡這些趨勢。除非這些指標出現向更積極軌跡的轉變，否則我們會考慮其他選擇。</p>
<p>金獅亞太確實存在一些風險，我們注意到 <strong>3 個警告信號</strong>（還有 1 個不容忽視的）我們認為你應該瞭解。</p>
<p>對於那些喜歡投資於 <strong>穩健公司</strong> 的人，查看這份 <strong>免費</strong> 的穩健資產負債表和高股本回報率公司的名單。</p>
<p>如果你想交易金獅亞太，請在專業人士信任的最低成本平台上開設賬户，Interactive Brokers。</p>
<p>IBKR 在 200 多個國家和地區擁有客户，並可訪問 160 個市場，讓你可以通過一個集成賬户交易股票、期權、期貨、外匯、債券和基金。</p>
<p>享受無隱藏費用，無賬户最低要求，外匯轉換率低至 0.03%，遠低於大多數經紀商提供的水平。</p>
<p>贊助內容</p>

金獅亞太

<p>獅子亞太 (SGX:BAZ) 顯示出衰退的跡象，資本回報率 (ROCE) 僅為 0.2%，遠低於行業平均水平 7.3%。在過去五年中，ROCE 從 1.0% 下降，儘管投入的資本保持穩定，但增長停滯不前。當前負債已上升至總資產的 15%，進一步影響了 ROCE。長期股東的投資貶值了 21%，這表明市場對公司未來缺乏信心，除非趨勢有所改善</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>忽略一家公司的股價，有哪些潛在趨勢表明該企業已經過了增長階段？處於衰退中的企業通常有兩個潛在趨勢，首先是資本回報率（ROCE）下降，其次是資本使用基礎下降。這表明該企業不僅在縮減其淨資產的規模，而且其回報也在下降。話雖如此，經過簡要觀察，我們對 <strong>金獅亞太</strong>（SGX:BAZ）並不樂觀，但讓我們進一步調查。</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>這項技術可能會取代計算機：發現 20 只正在努力使量子計算成為現實的股票。</p>
</div><h2>Understanding Return On Capital Employed (ROCE)</h2>
<div class="lb-trans"><h2>理解資本回報率（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>為了澄清，如果你不確定，ROCE 是評估公司在其業務中投資的資本所賺取的税前收入（以百分比形式）的指標。分析師使用這個公式來計算金獅亞太的 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>資本回報率 = 税息前利潤（EBIT）÷（總資產 - 流動負債）</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>(基於截至 2024 年 12 月的過去十二個月數據)</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>金獅亞太的 ROCE 為 0.2%。</strong> 最終，這是一項低迴報，低於基礎材料行業平均水平的 7.3%。</p>
</div><p>See our latest analysis for Lion Asiapac</p>
<div class="lb-trans"><p>查看我們對金獅亞太的最新分析</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 資本回報率 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>雖然過去的表現並不能代表未來，但瞭解公司歷史表現是有幫助的，這就是我們上面提供這張圖表的原因。如果你想深入瞭解歷史收益，請查看這些 <strong>免費</strong> 圖表，詳細説明金獅亞太的收入和現金流表現。</p>
</div><h2>What Does the ROCE Trend For Lion Asiapac Tell Us?</h2>
<div class="lb-trans"><h2>金獅亞太的 ROCE 趨勢告訴我們什麼？</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>就金獅亞太的歷史 ROCE 變動而言，這一趨勢並未激發信心。大約五年前，資本回報率為 1.0%，然而現在遠低於這一水平，如我們所見。同時，企業所使用的資本在這段時間內基本保持平穩。由於回報在下降，而企業的資產使用量保持不變，這可能表明它是一家在過去五年中沒有太多增長的成熟企業。因此，由於這些趨勢通常不利於創造多倍收益，我們不會對金獅亞太的未來抱有太大希望。</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>在此期間，我們注意到流動負債與總資產的比率上升至 15%，這影響了 ROCE。如果流動負債沒有像現在這樣增加，ROCE 實際上可能會更低。請關注這個比率，因為如果這個指標過高，企業可能會面臨一些新的風險。</p>
</div><h2>What We Can Learn From Lion Asiapac's ROCE</h2>
<div class="lb-trans"><h2>我們可以從金獅亞太的 ROCE 中學到什麼</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>最終，資本回報率在相同資本下的下降趨勢通常並不是我們在看一隻成長股的跡象。在過去五年中，長期股東的投資貶值了 21%，因此市場似乎也不喜歡這些趨勢。除非這些指標出現向更積極軌跡的轉變，否則我們會考慮其他選擇。</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>金獅亞太確實存在一些風險，我們注意到 <strong>3 個警告信號</strong>（還有 1 個不容忽視的）我們認為你應該瞭解。</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>對於那些喜歡投資於 <strong>穩健公司</strong> 的人，查看這份 <strong>免費</strong> 的穩健資產負債表和高股本回報率公司的名單。</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>如果你想交易金獅亞太，請在專業人士信任的最低成本平台上開設賬户，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 多個國家和地區擁有客户，並可訪問 160 個市場，讓你可以通過一個集成賬户交易股票、期權、期貨、外匯、債券和基金。</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>享受無隱藏費用，無賬户最低要求，外匯轉換率低至 0.03%，遠低於大多數經紀商提供的水平。</p>
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<div class="lb-trans"><p>贊助內容</p>
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金獅亞太（SGX:BAZ）可能面臨公司規模縮小的風險