Array Technologies' (NASDAQ:ARRY) Returns On Capital Are Heading Higher
Array Technologies' (NASDAQ:ARRY) Returns On Capital Are Heading Higher
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. So on that note, Array Technologies (NASDAQ:ARRY) looks quite promising in regards to its trends of return on capital.
如果我们想找到一个潜在的翻倍股,通常有一些潜在的趋势可以提供线索。通常,我们需要注意增长的资本雇用回报率(ROCE)的趋势,并且同时扩展资本雇用的基础。这向我们展示了这是一个复利机器,能够持续地将其收益再投资到业务中并产生更高的回报。因此,Array Technologies (纳斯达克:ARRY)在其资本回报率的趋势方面看起来非常有前途。
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。
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. The formula for this calculation on Array Technologies is:
只是为了澄清,如果您不确定,ROCE是一种用于评估公司在其业务中投资的资本所获得的税前收入比例的指标。Array Technologies的这种计算公式是:
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。
0.13 = US$172m ÷ (US$1.6b - US$284m) (Based on the trailing twelve months to March 2024).
0.13 = US$17200万 ÷ (US$16亿 - US$284m)(基于截至2024年3月的过去十二个月)。因此,Array Technologies的ROCE为13%。仅仅看这个指标,这是一个正常的资本回报率,与行业平均回报率13%相当。
Thus, Array Technologies has an ROCE of 13%. By itself that's a normal return on capital and it's in line with the industry's average returns of 13%.
在上面的图表中,我们测量了Array Technologies先前的ROCE与其先前的表现相比,但未来可能更为重要。如果您感兴趣,您可以在我们的Array Technologies免费分析师报告中查看分析师的预测。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240722/0-be0ea6f62d17b2da20fe65d5a84d4467-0-ecfd3737d4e0f7374dae40c32feb4400.png/big)
In the above chart we have measured Array Technologies' 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 Array Technologies .
在上图中,我们测量了Array Technologies先前的ROCE与其先前的表现相比,但未来可能更为重要。如果您感兴趣,您可以在我们的免费分析师报告中查看分析师对Array Technologies的预测。
So How Is Array Technologies' ROCE Trending?
那么Array Technologies的ROCE趋势如何?
Array Technologies has recently broken into profitability so their prior investments seem to be paying off. Shareholders would no doubt be pleased with this because the business was loss-making five years ago but is is now generating 13% on its capital. Not only that, but the company is utilizing 269% more capital than before, but that's to be expected from a company trying to break into profitability. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, both common traits of a multi-bagger.
Array Technologies最近已经实现了盈利,因此它们先前的投资似乎正在发挥作用。股东们无疑会对此感到满意,因为该公司在五年前还亏损,但现在其资本收益率达到了13%。不仅如此,该公司比以前使用了269%的资本,但这也是一个试图实现盈利的公司所期望的。这可能表明有大量的机会在内部投资资本,并以更高的回报率投资,这两个都是翻倍股的共同特点。
In another part of our analysis, we noticed that the company's ratio of current liabilities to total assets decreased to 17%, which broadly means the business is relying less on its suppliers or short-term creditors to fund its operations. So this improvement in ROCE has come from the business' underlying economics, which is great to see.
在我们分析的另一部分中,我们注意到公司的流动负债与总资产的比率减少到17%,这基本上意味着该企业正在减少其依赖供应商或短期债权人来资助其业务。因此,ROCE的这种改善来自企业的基本经济状况,这是令人欣喜的。
The Bottom Line On Array Technologies' ROCE
关于Array Technologies的ROCE这一点,对于大多数股东来说都是令人欣喜的,因为Array Technologies现在已经实现了盈利。考虑到股票在过去三年中下跌了20%,如果估值和其他指标也吸引人,则这可能是一项不错的投资。因此,进一步研究这家公司并确定这些趋势是否会继续似乎是正当的。
To the delight of most shareholders, Array Technologies has now broken into profitability. Given the stock has declined 20% in the last three years, this could be a good investment if the valuation and other metrics are also appealing. So researching this company further and determining whether or not these trends will continue seems justified.
然而,Array Technologies确实存在一些风险,我们已经发现了1个关于Array Technologies的警告信号,您可能会感兴趣。
Array Technologies does have some risks though, and we've spotted 1 warning sign for Array Technologies that you might be interested in.
虽然Array Technologies的回报率不是最高的,但请查看此正在实现股东权益回报率的公司的免费公司列表,这些公司拥有坚实的资产负债表。
While Array Technologies isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
虽然Array Technologies的回报不是最高的,但请查看此免费的公司列表,这些公司在股本回报率和坚实的资产负债表方面表现出色。
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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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