OSI Systems (NASDAQ:OSIS) Is Experiencing Growth In Returns On Capital
OSI Systems (NASDAQ:OSIS) Is Experiencing Growth In Returns On Capital
If you're looking for a multi-bagger, there's a few things to keep an eye out for. 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. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Speaking of which, we noticed some great changes in OSI Systems' (NASDAQ:OSIS) returns on capital, so let's have a look.
如果你正在寻找一个多倍股，有一些事情要注意。一种常见的方法是尝试找到一家拥有充足的资本营运的公司。这表明它是一个复利机器，能够不断地将其收益再投入到业务中，从而产生更高的回报。考虑到这一点，我们注意到Hao Tian International Construction Investment Group (HKG:1341)出现了一些有前途的趋势，让我们再深入探究一下。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。最终，这表明它是一家正在以递增的回报率重新投资利润的企业。而提起递增的回报率，我们注意到OSI Systems（NASDAQ: OSIS）的资本回报率发生了很大的变化，所以让我们来看看吧。
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。
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. To calculate this metric for OSI Systems, this is the formula:
如果您不确定，ROCE是一种衡量企业在其业务中投资的资本所赚税前收入的百分比指标。要为OSI Systems计算此指标，需要使用以下公式：
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。
0.17 = US$181m ÷ (US$1.8b - US$762m) (Based on the trailing twelve months to March 2024).
因此，OSI Systems的ROCE为17%。独立看来，这是一个标准的回报，但比电子行业的11%要好得多。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, OSI Systems has an ROCE of 17%. On its own, that's a standard return, however it's much better than the 11% generated by the Electronic industry.
在上图中，我们测量了OSI Systems以往的ROCE与其以前的业绩，但未来显然更为重要。如果您想了解分析师对其未来的预测，请查看我们为OSI Systems提供的免费分析师报告。
In the above chart we have measured OSI Systems' prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for OSI Systems .
OSI Systems呈现出一些积极的趋势。在过去的五年中，资本回报率显著提高至17%。投入的资本也增加了25%。这可以表明，存在许多在内部和以越来越高的速度投资资本的机会，这是多倍增长的常见组合。
The Trend Of ROCE
当寻找下一个倍增器时，如果您不确定从哪里开始，请关注几个关键趋势。首先，我们希望看到一个经过验证的资本使用率。如果您看到这一点，通常意味着这是一家拥有出色业务模式和大量盈利再投资机会的公司。然而，调查蒙托克可再生能源公司（NASDAQ：MNTK）后，我们认为它的现行趋势不符合倍增器的模式。
OSI Systems is displaying some positive trends. Over the last five years, returns on capital employed have risen substantially to 17%. The amount of capital employed has increased too, by 25%. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers.
顺便提一下，OSI Systems的流动负债仍然相当高，占总资产的42%。这可能带来一些风险，因为公司基本上是在相当大的依赖于其供应商或其他形式的短期债务人的情况下运营的。我们希望看到这种情况减少，因为这将意味着承担风险的义务更少。
On a side note, OSI Systems' current liabilities are still rather high at 42% of total assets. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
我们可以从OSI Systems的ROCE中学到什么？一个不断增长其资本回报率并能持续重投的公司是一种高度追求的品质，而这正是OSI Systems所具备的。由于过去五年该股票仅为股东带来23%的回报，因此有前景的基本面可能尚未被投资者认可。鉴于此，我们将进一步调查这只股票是否具备更多可在长期内使其翻倍的特点。
What We Can Learn From OSI Systems' ROCE
最后，我们发现OSI Systems有2个警告信号（其中1个有点不愉快），您应该知道。
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what OSI Systems has. Since the stock has only returned 23% to shareholders over the last five years, the promising fundamentals may not be recognized yet by investors. Given that, we'd look further into this stock in case it has more traits that could make it multiply in the long term.
虽然OSI Systems目前可能没有赚取最高回报，但我们已编制了一份目前赚取超过25%资本回报率的公司名单。在这里查看免费列表。
On a final note, we found 2 warning signs for OSI Systems (1 is a bit unpleasant) you should be aware of.
最后我们发现有2个OSI systems的警告信号（其中一个有点令人不愉快）你应该注意。
While OSI Systems may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
虽然OSI Systems目前可能并不赚取最高回报，但我们已经整理了一份目前赚取25%以上回报的公司列表。点击这里查看免费列表。
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