There's Been No Shortage Of Growth Recently For Select Medical Holdings' (NYSE:SEM) Returns On Capital
There's Been No Shortage Of Growth Recently For Select Medical Holdings' (NYSE:SEM) Returns On Capital
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Speaking of which, we noticed some great changes in Select Medical Holdings' (NYSE:SEM) returns on capital, so let's have a 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。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 所用资本的比例。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。说到这里，我们注意到精选医疗控股公司（纽约证券交易所代码：SEM）的资本回报率发生了一些重大变化，所以让我们来看看吧。
What Is Return On Capital Employed (ROCE)?
什么是资本使用回报率（ROCE）？
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Select Medical Holdings is:
如果你以前没有与ROCE合作过，它会衡量公司从其业务中使用的资本中产生的 “回报”（税前利润）。精选医疗控股公司的计算公式为：
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）
0.09 = US$597m ÷ (US$7.9b - US$1.2b) (Based on the trailing twelve months to March 2024).
0.09 = 5.97亿美元 ÷（79亿美元-12亿美元） （基于截至2024年3月的过去十二个月）。
Thus, Select Medical Holdings has an ROCE of 9.0%. On its own, that's a low figure but it's around the 11% average generated by the Healthcare industry.
因此，精选医疗控股公司的投资回报率为9.0％。就其本身而言，这是一个很低的数字，但约为医疗保健行业的11％的平均水平。
Above you can see how the current ROCE for Select Medical Holdings compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Select Medical Holdings for free.
在上面你可以看到Select Medical Holdings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。如果你愿意，你可以免费查看报道精选医疗控股的分析师的预测。
The Trend Of ROCE
ROCE 的趋势
Select Medical Holdings' ROCE growth is quite impressive. More specifically, while the company has kept capital employed relatively flat over the last five years, the ROCE has climbed 31% in that same time. Basically the business is generating higher returns from the same amount of capital and that is proof that there are improvements in the company's efficiencies. The company is doing well in that sense, and it's worth investigating what the management team has planned for long term growth prospects.
精选医疗控股公司的投资回报率增长相当可观。更具体地说，尽管该公司在过去五年中一直保持相对平稳的资本使用率，但同期投资回报率增长了31％。基本上，该业务正在从相同数量的资本中获得更高的回报，这证明了公司的效率有所提高。从这个意义上讲，该公司表现良好，值得研究管理团队对长期增长前景的计划。
Our Take On Select Medical Holdings' ROCE
我们对精选医疗控股公司投资回报率的看法
To bring it all together, Select Medical Holdings has done well to increase the returns it's generating from its capital employed. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
综上所述，Select Medical Holdings在增加其资本所产生的回报方面做得很好。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。话虽如此，我们仍然认为前景良好的基本面意味着公司值得进一步的尽职调查。
Select Medical Holdings does have some risks, we noticed 3 warning signs (and 1 which is a bit unpleasant) we think you should know about.
Select Medical Holdings确实存在一些风险，我们注意到3个警告信号（还有一个有点不愉快），我们认为你应该知道。
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
如果你想寻找收益丰厚的稳健公司，可以免费查看这份资产负债表良好且股本回报率可观的公司名单。
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