Dyna-Mac Holdings (SGX:NO4) Is Looking To Continue Growing Its Returns On Capital
Dyna-Mac Holdings (SGX:NO4) Is Looking To Continue Growing Its Returns On Capital
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. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. With that in mind, we've noticed some promising trends at Dyna-Mac Holdings (SGX:NO4) so let's look a bit deeper.
你知道有一些财务指标可以提供潜在多倍收益的线索吗?一种常见的方法是试图找到一家投资回报率(ROCE)不断上升,且投资规模增加的公司。这基本上意味着该公司具备盈利的倡议,可以继续投资,这是一个强大的复利机器。因此,我们注意到Dyna-Mac Holdings (SGX:NO4)出现了一些有前途的趋势,让我们更深入地了解一下。
Return On Capital Employed (ROCE): What Is It?
资本雇用回报率(ROCE)是什么?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Dyna-Mac Holdings, this is the formula:
如果你之前没有使用过ROCE,那么它可以衡量一家公司从其在业务中使用的资本中产生的“回报”(税前利润)。计算Dyna-Mac Holdings的这一指标的公式为:
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 = S$18m ÷ (S$345m - S$229m) (Based on the trailing twelve months to December 2023).
0.16 = S$1800万 ÷ (S$34500万 - S$229m) (基于截至2023年12月的过去12个月)。因此,Dyna-Mac Holdings的ROCE为16%。单独来看,这是一个标准的回报,但它比能源服务行业的11%好多了。
Therefore, Dyna-Mac Holdings has an ROCE of 16%. On its own, that's a standard return, however it's much better than the 11% generated by the Energy Services industry.
SGX:NO4 Return on Capital Employed 2024年7月12日
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240712/0-7260bf6ab803fdc251402e16ec0870f2-0-233a6f1993301e9c7bdf09d9be25ee5c.png/big)
In the above chart we have measured Dyna-Mac Holdings' 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 Dyna-Mac Holdings for free.
股东将放心Dyna-Mac Holdings已经实现盈利。该公司现在的资本回报率为16%,因为五年前它遭受亏损。虽然回报率已经增加,但Dyna-Mac Holdings使用的资本金额在这段时间内保持不变。因此,虽然我们对企业变得更加高效感到高兴,但请记住,这可能意味着企业在今后缺乏内部投资增长的领域。因此,如果您正在寻找高增长,您需要看到企业的资本使用量也在增加。
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。
Shareholders will be relieved that Dyna-Mac Holdings has broken into profitability. The company now earns 16% on its capital, because five years ago it was incurring losses. While returns have increased, the amount of capital employed by Dyna-Mac Holdings has remained flat over the period. So while we're happy that the business is more efficient, just keep in mind that could mean that going forward the business is lacking areas to invest internally for growth. So if you're looking for high growth, you'll want to see a business's capital employed also increasing.
但值得注意的是,公司的流动负债在这段时间内有明显增加,因此我们将一些ROCE增长归因于此。实际上,这意味着供应商或短期债权人现在资助企业的66%,这比五年前高。随着当前负债水平处于那种水平,这是相当高的。
For the record though, there was a noticeable increase in the company's current liabilities over the period, so we would attribute some of the ROCE growth to that. Effectively this means that suppliers or short-term creditors are now funding 66% of the business, which is more than it was five years ago. And with current liabilities at those levels, that's pretty high.
从Dyna-Mac Holdings的ROCE 可以学到什么
What We Can Learn From Dyna-Mac Holdings' ROCE
简而言之,Dyna-Mac Holdings的收益越来越高,而使用的资本却没有增加,这是令人印象深刻的。由于在过去五年中,该股票为股东带来了惊人的333%的回报,这表明投资者认识到了这些变化。考虑到这一点,我们仍然认为有前景的基本面意味着公司值得进一步的尽职调查。
To sum it up, Dyna-Mac Holdings is collecting higher returns from the same amount of capital, and that's impressive. Since the stock has returned a staggering 333% to shareholders over the last five years, it looks like investors are recognizing these changes. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
在ROCE另一侧,我们必须考虑估值。这就是我们在平台上提供免费的NO4内在价值估算,绝对值得一看。
On the other side of ROCE, we have to consider valuation. That's why we have a FREE intrinsic value estimation for NO4 on our platform that is definitely worth checking out.
请使用您的moomoo账户登录访问该功能。
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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