Returns On Capital At ReNew Energy Global (NASDAQ:RNW) Have Hit The Brakes
Returns On Capital At ReNew Energy Global (NASDAQ:RNW) Have Hit The Brakes
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. Having said that, from a first glance at ReNew Energy Global (NASDAQ:RNW) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
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。一种常见的方法是尝试找一家公司 回报 论资本使用率(ROCE)在增加的同时增长 金额 所用资本的比例。这向我们表明,它是一台复合机器,能够持续将其收益再投资到业务中并产生更高的回报。话虽如此,乍一看Renew Energy Global(纳斯达克股票代码:RNW),我们并不是对回报趋势不屑一顾,但让我们更深入地了解一下。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (ROCE)
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. To calculate this metric for ReNew Energy Global, this is the formula:
对于那些不知道的人,投资回报率是衡量公司相对于业务所用资本的年度税前利润(其回报)的指标。要计算 Renew Energy Global 的这个指标,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)
0.063 = ₹45b ÷ (₹887b - ₹165b) (Based on the trailing twelve months to December 2023).
0.063 = 450亿卢比 ÷(887亿卢比-165亿卢比) (基于截至2023年12月的过去十二个月)。
Thus, ReNew Energy Global has an ROCE of 6.3%. In absolute terms, that's a low return, but it's much better than the Renewable Energy industry average of 3.2%.
因此,ReneW Energy Global的投资回报率为6.3%。从绝对值来看,这是一个低回报,但比可再生能源行业3.2%的平均水平要好得多。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240222/0-bb83e89cc6b93e8182d59c34a8d62fce-0-9ab81246b69b76c99fb997236fbf19ec.png/big)
In the above chart we have measured ReNew Energy Global'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 analyst report for ReNew Energy Global .
在上图中,我们将Renew Energy Global先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。如果你有兴趣,可以在我们的Renew Energy Global免费分析师报告中查看分析师的预测。
What Can We Tell From ReNew Energy Global's ROCE Trend?
我们可以从ReneW Energy Global的投资回报率趋势中看出什么?
There are better returns on capital out there than what we're seeing at ReNew Energy Global. Over the past five years, ROCE has remained relatively flat at around 6.3% and the business has deployed 112% more capital into its operations. This poor ROCE doesn't inspire confidence right now, and with the increase in capital employed, it's evident that the business isn't deploying the funds into high return investments.
那里的资本回报比我们在ReneW Energy Global看到的要好。在过去五年中,投资回报率一直相对持平,约为6.3%,该业务在运营中投入的资金增加了112%。这种糟糕的投资回报率目前并不能激发信心,随着所用资本的增加,很明显,该企业没有将资金部署到高回报的投资中。
The Key Takeaway
关键要点
In summary, ReNew Energy Global has simply been reinvesting capital and generating the same low rate of return as before. And investors appear hesitant that the trends will pick up because the stock has fallen 46% in the last three years. Therefore based on the analysis done in this article, we don't think ReNew Energy Global has the makings of a multi-bagger.
总而言之,Renew Energy Global只是在对资本进行再投资,并产生了与以前一样低的回报率。投资者似乎对趋势能否回升犹豫不决,因为该股在过去三年中下跌了46%。因此,根据本文中的分析,我们认为Renew Energy Global不具备多袋装机的优势。
On a final note, we found 2 warning signs for ReNew Energy Global (1 is concerning) you should be aware of.
最后,我们发现了ReneW Energy Global的两个警告信号(其中一个令人担忧),你应该注意。
While ReNew Energy Global 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Renew Energy Global的回报率并不高,但请查看这份免费的股票回报率高、资产负债表稳健的公司名单。
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。