Fabrinet (NYSE:FN) Might Have The Makings Of A Multi-Bagger
Fabrinet (NYSE:FN) Might Have The Makings Of A Multi-Bagger
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base 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. With that in mind, we've noticed some promising trends at Fabrinet (NYSE:FN) so let's look a bit deeper.
如果我们想要找到一只长期增值的股票,我们应该寻找哪些潜在的趋势呢?首先,我们希望确定资本应用增长的板块。最终,这表明这是一个在以递增的回报率再投资利润的企业。虽然,当我们看Hyatt Hotels(NYSE:H)时,它似乎没能满足所有这些要求。资产回报率:它是什么?资本雇用回报率 (ROCE) 是一种早期趋势,可以用来识别有可能在长期内翻倍增值的股票,然后在此基础上,要寻找一个不断增长的业务板块和行业板块。这告诉我们这是一台复利机器,能够不断地将其收益再投入业务,从而产生更高的回报。因此,在这点上,Materialise (纳斯达克:MTLS) 看起来相当有前途,因为它在资本回报方面的趋势相当不错。资产回报率 = 利息和所得税前收益(EBIT)÷(总资产-流动负债)简而言之,这些类型的企业是复合机器,这意味着它们不断将其收益以越来越高的回报率再投资。考虑到这一点,我们注意到Fabrinet(纽交所:FN)有一些令人鼓舞的趋势,让我们再深入一些。
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。
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. Analysts use this formula to calculate it for Fabrinet:
对于那些不确定ROCE是什么的人,ROCE衡量的是公司能够从其业务中使用的资本中产生的税前利润。分析师使用以下公式计算Fabrinet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。
0.16 = US$267m ÷ (US$2.2b - US$544m) (Based on the trailing twelve months to March 2024).
0.16 = 2.67亿美元 ÷ (22亿美元 - 5.44亿美元)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, Fabrinet has an ROCE of 16%. On its own, that's a standard return, however it's much better than the 11% generated by the Electronic industry.
因此,Fabrinet的ROCE为16%。单独看来,这是一个标准的回报,但它比电子行业的11%要好得多。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240701/0-554613624270b6b954c0b7ec8e1afa19-0-e67a671f45de65ec366812ba56863245.png/big)
In the above chart we have measured Fabrinet'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 Fabrinet .
在上面的图表中,我们测量了Fabrinet之前的ROCE与其之前的表现,但未来可能更重要。如果您有兴趣,您可以在我们的免费Fabrinet分析师报告中查看分析师的预测。
How Are Returns Trending?
综合上述,Cimpress非常有效地提高了其资本利用率所产生的回报。考虑到股票过去五年保持稳定,如果其他指标也不错,则可能存在机会。因此,进一步研究这家公司并确定这些趋势是否会持续是合理的。
We like the trends that we're seeing from Fabrinet. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 16%. Basically the business is earning more per dollar of capital invested and in addition to that, 87% more capital is being employed now too. So we're very much inspired by what we're seeing at Fabrinet thanks to its ability to profitably reinvest capital.
我们喜欢从Fabrinet所看到的趋势。数字表明,在过去的五年中,资本回报率上的回报已经显著增长到16%。基本上,该业务正在为每美元投资的资本赚取更多收益,并且此外,现在也使用了87%更多的资本。因此,由于其能够利润再投资的能力,我们非常受Fabrinet所看到的东西的启发。
The Bottom Line
还有一件事需要注意的是,我们已经确定了上海医药的2个警告信号,了解这些信号应该成为你的投资过程的一部分。
In summary, it's great to see that Fabrinet can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. And a remarkable 387% total return over the last five years tells us that investors are expecting more good things to come in the future. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
总之,令人高兴的是,Fabrinet可以通过以不断增长的回报率持续再投资资本来复合回报,因为这些是那些备受追捧的股市多倍获利的关键要素之一。过去五年的总回报率达到了惊人的387%,这告诉我们,投资者正在期待未来会有更多好消息。与此同时,我们仍然认为,有着这些令人鼓舞的基本面,该公司应得到更进一步的尽职调查。
Fabrinet does have some risks though, and we've spotted 1 warning sign for Fabrinet that you might be interested in.
Fabrinet确实存在一些风险,我们已经发现了一个Fabrinet的警告信号,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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