Why The 28% Return On Capital At Papa John's International (NASDAQ:PZZA) Should Have Your Attention
Why The 28% Return On Capital At Papa John's International (NASDAQ:PZZA) Should Have Your Attention
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out 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. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. So when we looked at the ROCE trend of Papa John's International (NASDAQ:PZZA) we really liked what we saw.
如果您不确定在寻找下一个多倍增长股票时该从哪里开始，有几个关键趋势您应该密切关注。首先，我们希望确定一个不断增长的资本使用回报率（ROCE）以及越来越多的资本使用基础。基本上，这意味着公司拥有可以继续投资的盈利举措，这是一个复利机器的特征。因此，当我们查看Papa John's International（NASDAQ:PZZA）的ROCE趋势时，我们真的很喜欢我们看到的。
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。
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. The formula for this calculation on Papa John's International is:
对于那些不确定什么是ROCE的人，它测量了一家公司可以从其业务中使用的资本获得的税前利润金额。此计算公式适用于Papa John's International：
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。
0.28 = US$160m ÷ (US$847m - US$283m) (Based on the trailing twelve months to March 2024).
0.28 = 16000万美元÷（8,4700万美元-2.83亿美元）（基于截至2024年3月的过去十二个月）。
So, Papa John's International has an ROCE of 28%. That's a fantastic return and not only that, it outpaces the average of 11% earned by companies in a similar industry.
因此，Papa John's International的ROCE为28％。这是一个惊人的回报，而且还超过了同行业公司平均获得的11％。
In the above chart we have measured Papa John's International'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 Papa John's International .
在上图中，我们已经测量了Papa John's International以前的ROCE与其以前的表现，但未来可能更为重要。如果您感兴趣，可以查看我们为Papa John's International提供的免费分析师报告中的分析师预测。
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。
Papa John's International's ROCE growth is quite impressive. The figures show that over the last five years, ROCE has grown 167% whilst employing roughly the same amount of capital. So it's likely that the business is now reaping the full benefits of its past investments, since the capital employed hasn't changed considerably. On that front, things are looking good so it's worth exploring what management has said about growth plans going forward.
Papa John's International的ROCE增长令人印象深刻。数据显示，在过去的五年中，ROCE增长了167％，而使用的资本大致相同。因此，这家企业现在可能正在收获其过去投资的全部好处，因为所使用的资本并未发生明显的变化。从这方面来看，事情看起来很好，值得探索管理层有关未来增长计划的说法。
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。
In summary, we're delighted to see that Papa John's International has been able to increase efficiencies and earn higher rates of return on the same amount of capital. Considering the stock has delivered 1.4% to its stockholders over the last five years, it may be fair to think that investors aren't fully aware of the promising trends yet. So exploring more about this stock could uncover a good opportunity, if the valuation and other metrics stack up.
总之，我们很高兴看到Papa John's International能够提高效率并在相同数量的资本上获得更高的回报率。考虑到这支股票过去五年为其股东提供了1.4％的回报，可以认为投资者还没有完全意识到有前途的趋势。因此，如果估值和其他指标达标，更多地探索这支股票可能会揭示出一个好的机会。
One more thing, we've spotted 1 warning sign facing Papa John's International that you might find interesting.
还有一件事，我们发现Papa John's International面临1个警告信号，您可能会发现它很有趣。
If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.
如果您想看到其他公司获得高回报，请在此查看我们免费的高回报、坚实财务状况的公司列表。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论，只使用公正的方法论，我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议，也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意，我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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