Returns At Travel + Leisure (NYSE:TNL) Appear To Be Weighed Down
Returns At Travel + Leisure (NYSE:TNL) Appear To Be Weighed Down
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. 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. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. In light of that, when we looked at Travel + Leisure (NYSE:TNL) and its ROCE trend, we weren't exactly thrilled.
如果你在寻找下一款多功能装袋机时不确定从哪里开始,那么你应该留意一些关键趋势。除其他外,我们希望看到两件事;首先,成长 返回 论资本使用率(ROCE),其次是公司的扩张 金额 已动用资本的百分比。如果你看到这一点,那通常意味着它是一家拥有良好商业模式和大量有利可图的再投资机会的公司。有鉴于此,当我们查看Travel + Leisure(纽约证券交易所代码:TNL)及其ROCE趋势时,我们并不感到非常兴奋。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
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. To calculate this metric for Travel + Leisure, this is the formula:
如果您不确定,可以澄清一下,ROCE是评估公司从投资于其业务的资本中获得多少税前收入(按百分比计算)的指标。要计算 Travel + Leisure 的该指标,公式如下:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已动用资本回报率 = 息税前收益 (EBIT) ¥(总资产-流动负债)
0.13 = US$721m ÷ (US$6.7b - US$1.2b) (Based on the trailing twelve months to September 2023).
0.13 = 7.21 亿美元 ¼(67 亿美元-12 亿美元) (基于截至2023年9月的过去十二个月)。
Therefore, Travel + Leisure has an ROCE of 13%. In absolute terms, that's a satisfactory return, but compared to the Hospitality industry average of 9.3% it's much better.
因此,旅行+休闲的投资回报率为13%。从绝对值来看,这是一个令人满意的回报,但与酒店业平均水平的9.3%相比,要好得多。
Check out our latest analysis for Travel + Leisure
查看我们对 Travel + Leisure 的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231114/0-d5da768bf0a6a2628b7adbdf086c34ec-0-92aff443972b59ec561f4a9fcac28a5c.png/big)
Above you can see how the current ROCE for Travel + Leisure compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.
在上方你可以看到当前 Travel + Leisure 的投资回报率与之前的资本回报率相比如何,但从过去可以看出来只有这么多。如果你有兴趣,可以在我们关于公司分析师预测的免费报告中查看分析师的预测。
What Can We Tell From Travel + Leisure's ROCE Trend?
我们可以从 Travel + Leisure 的 ROCE 趋势中看出什么?
There hasn't been much to report for Travel + Leisure's returns and its level of capital employed because both metrics have been steady for the past five years. Businesses with these traits tend to be mature and steady operations because they're past the growth phase. So unless we see a substantial change at Travel + Leisure in terms of ROCE and additional investments being made, we wouldn't hold our breath on it being a multi-bagger.
Travel + Leisure的回报及其资本使用水平没有太多可报告的内容,因为这两个指标在过去五年中一直保持稳定。具有这些特征的企业往往会成熟而稳定的运营,因为它们已经过了增长阶段。因此,除非我们看到Travel + Leisure在投资回报率方面发生重大变化并进行额外投资,否则我们不会屏住呼吸,因为它是一个多功能公司。
The Bottom Line
底线
We can conclude that in regards to Travel + Leisure's returns on capital employed and the trends, there isn't much change to report on. And investors may be recognizing these trends since the stock has only returned a total of 1.7% to shareholders over the last five years. So if you're looking for a multi-bagger, the underlying trends indicate you may have better chances elsewhere.
我们可以得出结论,就Travel + Leisure的资本使用回报率和趋势而言,没有太多变化可报告。投资者可能已经意识到这些趋势,因为该股在过去五年中仅为股东带来了1.7%的回报。因此,如果你正在寻找一款多功能游戏,那么潜在的趋势表明你在其他地方可能有更好的机会。
If you'd like to know more about Travel + Leisure, we've spotted 2 warning signs, and 1 of them makes us a bit uncomfortable.
如果你想进一步了解 Travel + Leisure,我们发现了 2 个警告标志,其中 1 个让我们有点不舒服。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
对于那些喜欢投资稳健公司的人,可以查看这份资产负债表稳健和股本回报率高的公司的免费清单。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。