Meritage Homes (NYSE:MTH) Is Looking To Continue Growing Its Returns On Capital
Meritage Homes (NYSE:MTH) Is Looking To Continue Growing Its Returns On Capital
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. So on that note, Meritage Homes (NYSE:MTH) looks quite promising in regards to its trends of return on capital.
如果我们想找到潜在的多袋装袋机,通常有一些潜在的趋势可以提供线索。通常,我们希望注意到增长的趋势 返回 在资本使用率(ROCE)方面,除此之外,还在扩大 基础 已动用资本的百分比。简而言之,这些类型的企业是复合机器,这意味着他们不断以更高的回报率对收益进行再投资。因此,考虑到这一点,Meritage Homes(纽约证券交易所代码:MTH)的资本回报率趋势看起来相当乐观。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (ROCE)
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. Analysts use this formula to calculate it for Meritage Homes:
对于那些不确定ROCE是什么的人来说,它衡量的是公司从业务中使用的资本中可以产生的税前利润。分析师使用以下公式来计算 Meritage Homes 的计算公式:
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)
0.18 = US$995m ÷ (US$6.2b - US$655m) (Based on the trailing twelve months to September 2023).
0.18 = 9.95 亿美元 ¼(62 亿美元-6.55 亿美元) (基于截至2023年9月的过去十二个月)。
So, Meritage Homes has an ROCE of 18%. On its own, that's a standard return, however it's much better than the 14% generated by the Consumer Durables industry.
因此,Meritage Homes的投资回报率为18%。就其本身而言,这是一个标准回报,但它比耐用消费品行业产生的14%要好得多。
Check out our latest analysis for Meritage Homes
查看我们对Meritage Homes的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231128/0-e05f9c8bd9cf63612abff3596e311eff-0-effb20c1bacd78b636ed62fbae1987ef.png/big)
In the above chart we have measured Meritage Homes' prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Meritage Homes here for free.
在上面的图表中,我们对Meritage Homes之前的投资回报率与之前的表现进行了比较,但可以说,未来更为重要。如果你愿意,你可以在这里免费查看对Meritage Homes的分析师的预测。
How Are Returns Trending?
退货趋势如何?
Meritage Homes is displaying some positive trends. Over the last five years, returns on capital employed have risen substantially to 18%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 79%. So we're very much inspired by what we're seeing at Meritage Homes thanks to its ability to profitably reinvest capital.
Meritage Homes显示出一些积极的趋势。在过去五年中,资本使用回报率已大幅上升至18%。实际上,该公司每使用1美元的资本可以赚更多的钱,值得注意的是,资本金额也增加了79%。因此,由于Meritage Homes能够进行有利可图的再投资,我们在Meritage Homes所看到的情况给我们带来了极大的启发。
What We Can Learn From Meritage Homes' ROCE
我们可以从 Meritage Homes 的 ROCE 中学到什么
To sum it up, Meritage Homes has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. 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.
总而言之,Meritage Homes已经证明它可以对业务进行再投资,并从所使用的资本中获得更高的回报,这太棒了。而且,由于该股在过去五年中表现异常出色,投资者正在考虑这些模式。因此,鉴于该股已证明其趋势乐观,值得进一步研究该公司,看看这些趋势是否可能持续下去。
If you want to continue researching Meritage Homes, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果你想继续研究Meritage Homes,你可能有兴趣了解我们的分析发现的1个警告信号。
While Meritage Homes isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
尽管Meritage Homes的回报率不是最高的,但请查看这份免费清单,列出了资产负债表稳健且股本回报率很高的公司。
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.
对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
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。