Evolent Health (NYSE:EVH) Might Have The Makings Of A Multi-Bagger
Evolent Health (NYSE:EVH) Might Have The Makings Of A Multi-Bagger
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. So when we looked at Evolent Health (NYSE:EVH) and its trend of ROCE, we really liked what we saw.
如果你正在寻找一个多包裹公司,有几件事情要注意。 其中之一是,我们希望看到两件事情。 首先是,投入资本要不断增长。 基本上这意味着一家公司有盈利的项目,可以继续投资,这是一个复合机器的特征。然而,当我们看着松下医疗设备(SZSE:300633)时,它似乎没有满足所有这些条件。资产回报率:它是什么?如果您不确定ROCE是什么,它可以衡量公司能够从其业务所雇用的资本产生多少税前利润。为了计算V2X的这个指数,使用以下公式:0.054 = 1.24亿美元÷(31亿美元 - 8.53亿美元)ROCE 趋势可以告诉我们什么?比起 Enphase Energy,有更好的资本回报率选择。在过去的五年中,该公司增加了 1,306% 的资本,而该资本的回报率保持稳定在 9.9%。这样差的回报率现在并不令人信服,而且随着资本的增加,很明显企业并没有将资金投入到高回报的投资中。最终,这表明这是一家业务正在以增加的回报率将利润再投资的公司。所以,当我们看到Evolent Health(纽交所:EVH)和其ROCE趋势时,我们真的很喜欢我们所看到的。
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源现行ROCE与之前资本回报的比较,但过去只能知道这么多。如果您感兴趣,可以查看我们免费的蒙托克可再生能源分析师报告,了解分析师的预测。
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for Evolent Health:
如果您以前没有使用过ROCE,它衡量的是公司从在其业务中使用的资本中产生的的'回报率'(税前利润)。分析师使用这个公式来计算Evolent Health的ROCE:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
资产雇用回报率(ROCE)是指企业利润,即企业税前利润除以企业投入的总资本(负债加股权)。如果ROCE高于企业财务成本的承受能力,那么企业就会创造出更多的价值。
0.013 = US$26m ÷ (US$2.6b - US$659m) (Based on the trailing twelve months to March 2024).
0.013 =2600万美元÷(26亿美元-6.59亿美元)在Elevance Health上,我们已经注意到的趋势是相当令人放心的。数据显示,过去五年资产回报率大幅提高至15%。投资所用资产的规模也增加了30%。这表明有很多机会进行内部资本投资,并以更高的速度不断增长,这种组合在多倍增长方面很常见。.
Thus, Evolent Health has an ROCE of 1.3%. In absolute terms, that's a low return and it also under-performs the Healthcare Services industry average of 7.3%.
因此,Evolent Health的ROCE为1.3%。就绝对值而言,这是一个低回报率,它的表现也低于7.3%的 healthcare services industry 平均水平。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240609/0-8fc12b07e7ad1110d83abe6da2a9b7d2-0-1712bcdba89ba34a279807757ff8ddd8.png/big)
In the above chart we have measured Evolent Health's 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 Evolent Health for free.
在上面的图表中,我们测量了Evolent Health以前的ROCE与其以前的表现,但未来可能更为重要。如果您愿意,可以免费查看覆盖Evolent Health的分析师的预测。
What Does the ROCE Trend For Evolent Health Tell Us?
Evolent Health的ROCE趋势告诉我们什么?
We're delighted to see that Evolent Health is reaping rewards from its investments and is now generating some pre-tax profits. The company was generating losses five years ago, but now it's earning 1.3% which is a sight for sore eyes. Not only that, but the company is utilizing 35% more capital than before, but that's to be expected from a company trying to break into profitability. This can tell us that the company has plenty of reinvestment opportunities that are able to generate higher returns.
我们很高兴看到Evolent Health从其投资中获得回报并现在产生了一些税前利润。该公司五年前还在亏损,但现在创造了1.3%的利润,这是一大利好消息。不仅如此,该公司的资本使用比以前多35%,但这是可以预料的,因为该公司试图实现盈利。这可以告诉我们该公司有许多能够产生更高回报的再投资机会。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Essentially the business now has suppliers or short-term creditors funding about 25% of its operations, which isn't ideal. Keep an eye out for future increases because when the ratio of current liabilities to total assets gets particularly high, this can introduce some new risks for the business.
另外,我们注意到ROCE的改善似乎在一定程度上受到了流动负债的增加的推动。从根本上说,该业务现在有供应商或短期债权人为其约25%的运营提供资金,这并不理想。请密切关注未来的增长,因为当流动负债与总资产的比例特别高时,这可能会为该业务引入一些新的风险。
In Conclusion...
最后,同等资本下回报率较低的趋势通常不是我们关注创业板股票的最佳信号。由于这些发展进行良好,因此投资者不太可能表现友好。自五年前以来,该股下跌了32%。除非这些指标朝着更积极的轨迹转变,否则我们将继续寻找其他股票。
To the delight of most shareholders, Evolent Health has now broken into profitability. And a remarkable 194% total return over the last five years tells us that investors are expecting more good things to come in the future. Therefore, we think it would be worth your time to check if these trends are going to continue.
对于大多数股东来说,Evolent Health现在已经实现了盈利。在过去五年中,惊人的总回报率达194%,这告诉我们投资者期望未来会有更多好事发生。因此,我们认为值得您花时间去检查这些趋势是否会继续。
Like most companies, Evolent Health does come with some risks, and we've found 1 warning sign that you should be aware of.
像大多数公司一样,Evolent Health也存在一些风险,我们发现了1个警告信号,您应该注意。
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.
如果您想寻找财务状况良好、回报卓越的实力强企业,可以免费查看以下公司列表。
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