Returns On Capital At Endava (NYSE:DAVA) Have Stalled
Returns On Capital At Endava (NYSE:DAVA) Have Stalled
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. So, when we ran our eye over Endava's (NYSE:DAVA) trend of ROCE, we liked what we saw.
我们应该寻找哪些趋势?我们想确定可以长期价值成倍增长的股票?理想情况下,企业将表现出两种趋势;首先是增长 返回 论资本使用率(ROCE),其次是增加 金额 已动用资本的百分比。归根结底,这表明这是一家以更高的回报率对利润进行再投资的企业。因此,当我们关注恩达瓦(纽约证券交易所代码:DAVA)的ROCE趋势时,我们喜欢我们所看到的。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
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. The formula for this calculation on Endava is:
对于那些不确定ROCE是什么的人,它衡量的是公司可以从其业务中使用的资本中获得的税前利润。在 Endava 上进行此计算的公式为:
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)
0.16 = UK£110m ÷ (UK£798m - UK£115m) (Based on the trailing twelve months to September 2023).
0.16 = 1.1 亿英镑 ≤(7.98 亿英镑-1.15 亿英镑) (基于截至2023年9月的过去十二个月)。
Therefore, Endava has an ROCE of 16%. On its own, that's a standard return, however it's much better than the 12% generated by the IT industry.
因此,恩达瓦的投资回报率为16%。就其本身而言,这是一个标准回报,但它比IT行业产生的12%要好得多。
See our latest analysis for Endava
查看我们对 Endava 的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231205/0-bff5b2dc9366cb3f5c952d7a5d9dfda7-0-cdaafce59cd737a15e4b46fa68056406.png/big)
In the above chart we have measured Endava's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.
在上面的图表中,我们对Endava之前的投资回报率与之前的表现进行了衡量,但可以说,未来更为重要。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 The Trend Of ROCE Can Tell Us
ROCE 的趋势能告诉我们什么
The trend of ROCE doesn't stand out much, but returns on a whole are decent. Over the past five years, ROCE has remained relatively flat at around 16% and the business has deployed 388% more capital into its operations. 16% is a pretty standard return, and it provides some comfort knowing that Endava has consistently earned this amount. Over long periods of time, returns like these might not be too exciting, but with consistency they can pay off in terms of share price returns.
ROCE的趋势并不引人注目,但总体而言,回报还是不错的。在过去五年中,投资回报率一直保持相对平稳,约为16%,该业务在运营中部署的资本增加了388%。16%是一个相当标准的回报,知道Endava一直赚到这笔钱,这让人感到欣慰。在很长一段时间内,这样的回报可能不太令人兴奋,但如果保持一致,它们可以在股价回报方面获得回报。
One more thing to note, even though ROCE has remained relatively flat over the last five years, the reduction in current liabilities to 14% of total assets, is good to see from a business owner's perspective. This can eliminate some of the risks inherent in the operations because the business has less outstanding obligations to their suppliers and or short-term creditors than they did previously.
还有一点需要注意,尽管投资回报率在过去五年中一直保持相对平稳,但从企业主的角度来看,流动负债减少到总资产的14%还是不错的。这可以消除业务中固有的某些风险,因为企业对供应商和/或短期债权人的未偿债务比以前少。
What We Can Learn From Endava's ROCE
我们可以从恩达瓦的投资回报率中学到什么
In the end, Endava has proven its ability to adequately reinvest capital at good rates of return. And the stock has done incredibly well with a 174% return over the last five years, so long term investors are no doubt ecstatic with that result. So while the positive underlying trends may be accounted for by investors, we still think this stock is worth looking into further.
最后,Endava已经证明了它有能力以良好的回报率对资本进行充分的再投资。而且该股在过去五年中表现非常出色,回报率为174%,因此长期投资者无疑对这一结果欣喜若狂。因此,尽管投资者可能解释了积极的基本趋势,但我们仍然认为这只股票值得进一步研究。
Endava does have some risks though, and we've spotted 1 warning sign for Endava that you might be interested in.
但是,Endava确实存在一些风险,我们发现了Endava的1个警告信号,你可能会感兴趣。
While Endava may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
尽管Endava目前可能无法获得最高的回报,但我们编制了一份目前股本回报率超过25%的公司名单。在这里查看这份免费清单。
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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。