Limbach Holdings (NASDAQ:LMB) Is Achieving High Returns On Its Capital
Limbach Holdings (NASDAQ:LMB) Is Achieving High Returns On Its Capital
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. In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. With that in mind, the ROCE of Limbach Holdings (NASDAQ:LMB) looks great, so lets see what the trend can tell us.
如果您不确定该从哪儿开始寻找下一个多倍股，有几个关键趋势需要密切关注。在一个完美的世界里，我们希望看到一家公司将更多的资本投资到自己的业务中，理想情况下，从这些资本中赚取的回报也在增加。最终，这表明它是一家正在以逐渐增长的回报率重新投资利润的业务。因此，考虑到这一点，Limbach Holdings (NASDAQ:LMB)的ROCE看起来很棒，那么让我们看看趋势能告诉我们什么。
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。
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. To calculate this metric for Limbach Holdings, this is the formula:
对于那些不知道ROCE是什么的人来说，它是衡量公司年度税前利润（即回报）与业务投资的资本之间比率的一种指标。计算Limbach Holdings这一指标的公式如下:
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。
0.21 = US$34m ÷ (US$289m - US$124m) (Based on the trailing twelve months to March 2024).
0.21 = 3400万美元 ÷ (2.89亿美元 - 1.24亿美元) （截至2024年3月的过去十二个月）。
So, Limbach Holdings has an ROCE of 21%. That's a fantastic return and not only that, it outpaces the average of 11% earned by companies in a similar industry.
因此，Limbach Holdings的ROCE为21%。这是一个非常棒的回报，而且不仅如此，它还超过同行业公司的11%的平均回报。
In the above chart we have measured Limbach 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 Limbach Holdings for free.
在上面的图表中，我们已经将Limbach Holdings之前的ROCE与其之前的表现进行了对比，但未来可能更为重要。如果您想，您可以免费查看覆盖Limbach Holdings的分析师的预测。
What Does the ROCE Trend For Limbach Holdings Tell Us?
Limbach Holdings的ROCE趋势意味着什么？
Limbach Holdings is displaying some positive trends. The data shows that returns on capital have increased substantially over the last five years to 21%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 95%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
Limbach Holdings正在展示一些积极的趋势。数据显示，过去5年资本回报率已大幅上升至21%。该公司正在有效地让更多的资本赚更多的钱，值得注意的是，资本的数量也增加了95%。对于成倍增长的股票来说，增加资本回报率是常见的，这也是我们印象深刻的原因。
One more thing to note, Limbach Holdings has decreased current liabilities to 43% of total assets over this period, which effectively reduces the amount of funding from suppliers or short-term creditors. Therefore we can rest assured that the growth in ROCE is a result of the business' fundamental improvements, rather than a cooking class featuring this company's books. Nevertheless, there are some potential risks the company is bearing with current liabilities that high, so just keep that in mind.
还有一个需要注意的问题，Limbach Holdings已将流动负债降至总资产的43%，有效地减少了来自供应商或短期债权人的资金。因此我们可以放心地说，ROCE的增长是构建在业务本质上的改善而非伪造公司账目的结果。不过，由于当前负债过高，该公司正在承担一些潜在风险，所以还是要牢记这一点。
What We Can Learn From Limbach Holdings' ROCE
从Limbach Holdings的ROCE上能学到什么？
In summary, it's great to see that Limbach Holdings 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 581% total return over the last five years tells us that investors are expecting more good things to come in the future. In light of that, we think it's worth looking further into this stock because if Limbach Holdings can keep these trends up, it could have a bright future ahead.
总之，看到Limbach Holdings能够通过以逐渐增长的回报率持续重新投资资本来合并回报是很好的，因为这些是追逐倍增股票的关键因素之一。在过去的5年中，581%的总回报告诉我们，投资者预计未来会有更多的好事发生。鉴于此，我们认为进一步了解这支股票是值得的，因为如果Limbach Holdings能够保持这些趋势，它将能拥有一个辉煌的明天。
If you'd like to know about the risks facing Limbach Holdings, we've discovered 2 warning signs that you should be aware of.
如果您想了解Limbach Holdings面临的风险，我们已经找到了2个警告信号，您应该注意一下。
If you want to search for more stocks that have been earning high returns, check out this free list of stocks with solid balance sheets that are also earning high returns on equity.
如果您想寻找更多获得高回报的股票，请查看这个免费股票列表，这些股票不仅有扎实的资产负债表，而且还有高回报率。
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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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