Cracker Barrel Old Country Store (NASDAQ:CBRL) Will Want To Turn Around Its Return Trends
Cracker Barrel Old Country Store (NASDAQ:CBRL) Will Want To Turn Around Its Return Trends
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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Although, when we looked at Cracker Barrel Old Country Store (NASDAQ:CBRL), it didn't seem to tick all of these boxes.
你知道有些财务指标能够提供潜在多倍股的线索吗？一种常见的方法是尝试找到ROCE不断增长，并且使用的资本也在不断增加的公司。简单来说，这些类型的企业是复合机器，也就是说，它们不断地以更高的收益率再投资其收益。但是，当我们看过Cracker Barrel Old Country Store（纳斯达克：CBRL）时，它似乎没有满足所有要求。
Return On Capital Employed (ROCE): What Is It?
资本雇用回报率（ROCE）是什么？
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. To calculate this metric for Cracker Barrel Old Country Store, this is the formula:
对于不清楚ROCE是什么的人来说，它衡量企业可以从其业务使用的资本产生多少税前利润。为了计算Cracker Barrel Old Country Store的这个指标，以下是公式：
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。
0.054 = US$92m ÷ (US$2.2b - US$446m) (Based on the trailing twelve months to April 2024).
0.054=9,200万美元÷（22亿美元-4.46亿美元）（基于2024年4月的过去12个月）。因此，Cracker Barrel Old Country Store的ROCE为5.4％。最终，这是一个较低的回报率，低于酒店业平均水平的11％。
Therefore, Cracker Barrel Old Country Store has an ROCE of 5.4%. Ultimately, that's a low return and it under-performs the Hospitality industry average of 11%.
因此，Cracker Barrel Old Country Store的ROCE为5.4％。最终，这是一个较低的回报率，低于酒店业平均水平的11％。
Above you can see how the current ROCE for Cracker Barrel Old Country Store compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Cracker Barrel Old Country Store for free.
你可以看到Cracker Barrel Old Country Store目前ROCE与其以前的资本回报率相比如何，但过去只能说明有限的信息。如果你愿意，你可以免费查看覆盖Cracker Barrel Old Country Store的分析师的预测。
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。
In terms of Cracker Barrel Old Country Store's historical ROCE movements, the trend isn't fantastic. Around five years ago the returns on capital were 23%, but since then they've fallen to 5.4%. However it looks like Cracker Barrel Old Country Store might be reinvesting for long term growth because while capital employed has increased, the company's sales haven't changed much in the last 12 months. It may take some time before the company starts to see any change in earnings from these investments.
在Cracker Barrel Old Country Store的历史ROCE走势方面，趋势并不是太好。大约五年前，资本回报率为23％，但自那时以来，它们下降至5.4％。然而，似乎Cracker Barrel Old Country Store可能在为长期成长再投资，因为虽然使用的资本增加了，但公司的销售额在过去12个月内并没有太大变化。需要一些时间，才能看到公司从这些投资中获得任何收益的变化。
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。
To conclude, we've found that Cracker Barrel Old Country Store is reinvesting in the business, but returns have been falling. It seems that investors have little hope of these trends getting any better and that may have partly contributed to the stock collapsing 70% in the last five years. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.
总之，我们发现Cracker Barrel Old Country Store正在对业务进行再投资，但回报率下降。投资者似乎对此没有太多希望，并且这在一定程度上可能导致该股在过去五年中崩溃了70％。无论如何，该股没有多倍股的这些特征，因此，如果这是你想要的，我们认为你可以在其他地方有更多的运气。
If you want to continue researching Cracker Barrel Old Country Store, you might be interested to know about the 4 warning signs that our analysis has discovered.
如果您想继续研究Cracker Barrel Old Country Store，您可能会对我们的分析发现的4个预警信号感兴趣。
While Cracker Barrel Old Country Store 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.
尽管Cracker Barrel Old Country Store当前可能没有提供最高的回报，但我们已编制了一份目前获得25％以上股本回报率的公司列表。在此处查看此免费列表。
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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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