Returns On Capital At Quest Diagnostics (NYSE:DGX) Have Stalled
Returns On Capital At Quest Diagnostics (NYSE:DGX) Have Stalled
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. That's why when we briefly looked at Quest Diagnostics' (NYSE:DGX) ROCE trend, we were pretty happy with what we saw.
你知道有一些财务指标可以为潜在的多袋人提供线索吗?在一个完美的世界中,我们希望看到一家公司向其业务投入更多资本,理想情况下,从这些资本中获得的回报也在增加。基本上,这意味着公司拥有可以继续进行再投资的盈利计划,这是复合机器的特征。这就是为什么当我们简要研究Quest Diagnostics(纽约证券交易所代码:DGX)的投资回报率趋势时,我们对所看到的情况感到非常满意。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Quest Diagnostics is:
对于那些不知道的人来说,ROCE是衡量公司年度税前利润(其回报率)的指标,相对于该业务使用的资本。Quest Diagnostics 上的计算公式为:
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)
0.11 = US$1.3b ÷ (US$13b - US$1.6b) (Based on the trailing twelve months to September 2023).
0.11 = 13亿美元 ÷(130亿美元-16亿美元) (基于截至2023年9月的过去十二个月)。
Therefore, Quest Diagnostics has an ROCE of 11%. That's a relatively normal return on capital, and it's around the 9.9% generated by the Healthcare industry.
因此,Quest Diagnostics的投资回报率为11%。这是相对正常的资本回报率,约为医疗保健行业产生的9.9%。
Check out our latest analysis for Quest Diagnostics
查看我们对 Quest Diagnostics 的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240111/0-72cefae5e5caff153034e03ea01cca61-0-c8008d8f91077e888547abba5274a39a.png/big)
Above you can see how the current ROCE for Quest Diagnostics 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.
上面你可以看到Quest Diagnostics当前的投资回报率与其先前的资本回报率相比如何,但从过去可以看出来的只有那么多。如果您有兴趣,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。
How Are Returns Trending?
退货趋势如何?
While the returns on capital are good, they haven't moved much. The company has consistently earned 11% for the last five years, and the capital employed within the business has risen 24% in that time. Since 11% is a moderate ROCE though, it's good to see a business can continue to reinvest at these decent rates of return. 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.
尽管资本回报率不错,但变化不大。在过去五年中,该公司的收入一直保持11%,在此期间,公司内部使用的资本增长了24%。但是,由于11%的投资回报率适中,因此很高兴看到企业能够继续以如此可观的回报率进行再投资。在很长一段时间内,这样的回报可能不会太令人兴奋,但只要保持一致,它们可以在股价回报方面获得回报。
In Conclusion...
总之...
To sum it up, Quest Diagnostics has simply been reinvesting capital steadily, at those decent rates of return. And since the stock has risen strongly over the last five years, it appears the market might expect this trend to continue. So even though the stock might be more "expensive" than it was before, we think the strong fundamentals warrant this stock for further research.
总而言之,Quest Diagnostics只是在稳步进行资本再投资,回报率不错。而且,由于该股在过去五年中强劲上涨,看来市场预计这种趋势将继续下去。因此,尽管该股可能比以前更 “昂贵”,但我们认为强劲的基本面值得该股进行进一步研究。
If you'd like to know about the risks facing Quest Diagnostics, we've discovered 2 warning signs that you should be aware of.
如果你想了解Quest Diagnostics面临的风险,我们发现了两个你应该注意的警告信号。
While Quest Diagnostics 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Quest Diagnostics的回报率并不高,但请查看这份免费清单,列出了资产负债表稳健的股本回报率高的公司。
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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提供基于历史数据和分析师预测的评论,我们的文章并非旨在提供财务建议。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,我们的分析可能不会考虑最新的价格敏感型公司公告或定性材料。华尔街只是没有持有上述任何股票的头寸。