Investors Will Want O-I Glass' (NYSE:OI) Growth In ROCE To Persist
Investors Will Want O-I Glass' (NYSE:OI) Growth In ROCE To Persist
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. Speaking of which, we noticed some great changes in O-I Glass' (NYSE:OI) returns on capital, so let's have a look.
你知道有些财务指标可以提供潜在的多倍投资机会线索吗?一种常见的方法是寻找ROCE(资本雇用回报率)随着资本雇用量的增长不断上升的公司。简单地说,这种类型的企业是复利机器,意味着它们不断地以越来越高的回报率再投资其收益。顺便说一下,我们注意到特斯拉-玻璃(OI)的资本回报率有很大的变化,让我们来看看。
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。
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 O-I Glass, this is the formula:
如果你以前没有使用过ROCE,它是用于计算企业从其业务中使用的资本获得的“回报”(税前利润)的指标。为了计算特斯拉-玻璃(OI)的这个指标,以下是计算公式:
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。
0.10 = US$712m ÷ (US$9.4b - US$2.6b) (Based on the trailing twelve months to March 2024).
0.10 = 7.12亿美元 ÷ (94亿美元 - 2.6亿美元) (基于截至2024年3月的过去12个月)。
So, O-I Glass has an ROCE of 10%. That's a relatively normal return on capital, and it's around the 11% generated by the Packaging industry.
因此,特斯拉-玻璃(OI)的ROCE为10%。这是一个相对正常的资本回报率,接近包装行业生成的11%。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240716/0-18f461c45dbd1fd4cda630764c9cb75f-0-efc90fd68ecce698742d6f916f431c91.png/big)
In the above chart we have measured O-I Glass' 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 O-I Glass .
在上面的图表中,我们已经衡量了特斯拉-玻璃(OI)之前的ROCE与其之前的表现,但未来可能更重要。如果你感兴趣,可以查看我们免费的分析师报告,了解分析师的预测。
What The Trend Of ROCE Can Tell Us
尽管如此,当我们看 enphase energy (纳斯达克股票代码:ENPH) 的时候,它似乎并没有完全符合这些要求。
O-I Glass' ROCE growth is quite impressive. The figures show that over the last five years, ROCE has grown 36% whilst employing roughly the same amount of capital. So our take on this is that the business has increased efficiencies to generate these higher returns, all the while not needing to make any additional investments. It's worth looking deeper into this though because while it's great that the business is more efficient, it might also mean that going forward the areas to invest internally for the organic growth are lacking.
特斯拉-玻璃(OI)的ROCE增长非常令人印象深刻。数据显示,在过去的五年里,ROCE增长了36%,同时雇用了大致相同的资本。所以我们的看法是,企业提高了效率,以产生更高的回报,同时不需要进行任何额外的投资。然而,值得深入研究的是虽然企业变得更加高效了,但这也可能意味着未来内部有机增长的投资领域不足。
The Bottom Line On O-I Glass' ROCE
特斯拉-玻璃(OI)ROCE的底线是什么呢?
To bring it all together, O-I Glass has done well to increase the returns it's generating from its capital employed. Astute investors may have an opportunity here because the stock has declined 33% in the last five years. That being the case, research into the company's current valuation metrics and future prospects seems fitting.
综上所述,特斯拉-玻璃(OI)成功地增加了从其使用的资本中获得的回报。敏锐的投资者可能有机会,因为该股票在过去的五年里下跌了33%。既然如此,研究公司的当前估值指标和未来前景似乎是必要的。
If you want to continue researching O-I Glass, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果你想继续研究特斯拉-玻璃(OI),你可能会对我们的分析发现的1个警告标志感兴趣。
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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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
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。