Sigma Lithium (NASDAQ:SGML) Shareholders Will Want The ROCE Trajectory To Continue
Sigma Lithium (NASDAQ:SGML) Shareholders Will Want The ROCE Trajectory To Continue
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? 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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Speaking of which, we noticed some great changes in Sigma Lithium's (NASDAQ:SGML) returns on capital, so let's have a look.
你知道一些金融指标能够提供一个潜在的多倍赚钱机会的线索吗？一种常见的方法是试图寻找一家公司，它具有能够投入充足的利润回流的优秀商业模式。当我们看到深圳市力合科创（SZSE：002243）及其股本回报率趋势时，我们并不是完全满意的。什么是资本雇用回报率（ROCE）？ROCE是一个企业年度税前利润（其回报）与企业资本雇用之间的比率。在 Enphase Energy 的计算公式是：资本雇用回报率=利息和税前收益（EBIT）÷（资产总额-流动负债）。所以，Enphase Energy 的资本雇用回报率为9.9%。单独来看，这是一个较低的资本回报率，但它与行业平均回报率相当。以上你可以看到，Enphase Energy 的当前资本雇用回报率与之前的回报率相比如何，但从过去只能知道这么多。如果你想看看分析师对未来的预测，你应该查看我们免费提供的 Enphase Energy 分析师报告。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。简而言之，这些类型的企业是复合式的机器，意味着它们不断地以越来越高的回报率重新投资其收益。说到这一点，我们注意到 Sigma Lithium（纳斯达克代码：SGML）的资本回报率有了很大的变化，让我们来看看吧。
What Is Return On Capital Employed (ROCE)?
我们对 Enphase Energy 的资本雇用回报率的看法：正如我们上面看到的，Enphase Energy 的资本回报率没有提高，但它正在重新投资于业务。投资者必须认为未来会有更好的前景，因为股票表现良好，使持股五年以上的股东获得了 690% 的收益。最终，如果基本趋势持续存在，我们不会对它成为一只多头股持有期很久很有信心。
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 Sigma Lithium is:
如果您以前没有接触过 ROCE，它是一种衡量公司从其业务中使用的资金中产生的“回报”（税前利润）的指标。Sigma Lithium的计算公式如下：
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。
0.033 = CA$12m ÷ (CA$581m - CA$222m) (Based on the trailing twelve months to March 2024).
0.033 = CA$12m ÷（CA$581m - CA$222m）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。.
So, Sigma Lithium has an ROCE of 3.3%. In absolute terms, that's a low return and it also under-performs the Metals and Mining industry average of 8.9%.
所以，Sigma Lithium的 ROCE 是 3.3%。在绝对值上，这是一个很低的回报率，它也低于贵金属和矿业行业的平均水平，后者为 8.9%。
Above you can see how the current ROCE for Sigma Lithium 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 Sigma Lithium for free.
您可以看到 Sigma Lithium 目前资本回报率与其过去的资本回报率相比如何，但您只能从过去了解有限的信息。如果您愿意，您可以免费查看覆盖 Sigma Lithium 的分析师的预测。
So How Is Sigma Lithium's ROCE Trending?
那么 Sigma Lithium 的 ROCE 趋势如何？
The fact that Sigma Lithium is now generating some pre-tax profits from its prior investments is very encouraging. About five years ago the company was generating losses but things have turned around because it's now earning 3.3% on its capital. In addition to that, Sigma Lithium is employing 2,917% more capital than previously which is expected of a company that's trying to break into profitability. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, both common traits of a multi-bagger.
Sigma Lithium 现在从其以前的投资中获得一些税前利润，这是非常令人鼓舞的。大约五年前，该公司一直亏损，但情况已经好转，因为它现在在其资本上获得了 3.3% 的回报率。此外，Sigma Lithium 使用的资本比以前增加了 2,917%，这是一家试图进入盈利状况的公司所期望的。这可能表明公司有充足的内部资本投资机会，以及不断提高的回报率，这些都是多倍增长的共同特征。
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。
Long story short, we're delighted to see that Sigma Lithium's reinvestment activities have paid off and the company is now profitable. Since the stock has returned a staggering 989% to shareholders over the last five years, it looks like investors are recognizing these changes. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.
长话短说，我们很高兴看到 Sigma Lithium 的再投资活动取得了成功，公司现在变得盈利。由于股票在过去五年中为股东带来了惊人的 989% 的回报，看来投资者正在认识到这些变化。因此，鉴于该股票已经证明具有有前途的趋势，值得进一步研究该公司以确定这些趋势是否可能持续。
Sigma Lithium does have some risks though, and we've spotted 1 warning sign for Sigma Lithium that you might be interested in.
然而，Sigma Lithium确实存在一些风险，我们已经发现了1个关于Sigma Lithium的警告标志，您可能会感兴趣。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
Hao Tian International Construction Investment Group确实存在一些风险，我们已经发现了一条警示标志，你可能会感兴趣。对于那些喜欢投资于实力雄厚的公司的人，可以查看这个由财务状况强大、股本回报率高的公司组成的免费列表。
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