Snap-on (NYSE:SNA) Is Aiming To Keep Up Its Impressive Returns
Snap-on (NYSE:SNA) Is Aiming To Keep Up Its Impressive Returns
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. 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. Ergo, when we looked at the ROCE trends at Snap-on (NYSE:SNA), we liked what we saw.
如果不确定何处着手寻找下一个多倍股时,您应该留意一些关键趋势。通常,我们需要注意增长ROCE(资本雇用回报率)的趋势,以及资本雇用基础的不断扩大。这表明它是一个复利机器,能够不断将收益再投入业务并产生更高的回报。因此,当我们看着实耐宝(纽交所:SNA)的ROCE趋势时,我们喜欢所看到的。
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. The formula for this calculation on Snap-on is:
对于不确定ROCE是什么的人,它衡量公司从其业务中所雇用的资本中能够产生多少税前利润。对于实耐宝进行这种计算的公式是:
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。
0.20 = US$1.4b ÷ (US$7.8b - US$950m) (Based on the trailing twelve months to June 2024).
0.20 = 14亿美元 ÷(78亿美元 - 9.5亿美元)(基于2024年6月的过去十二个月)。
Thus, Snap-on has an ROCE of 20%. That's a fantastic return and not only that, it outpaces the average of 13% earned by companies in a similar industry.
因此,实耐宝的ROCE为20%。那是一个不错的回报,而且不仅如此,它还超过了相似行业公司的平均13%的回报。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240724/0-815710c4687948d388b93e243dff6134-0-6b15916257194884ef5f533d44a788df.png/big)
In the above chart we have measured Snap-on's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Snap-on .
在上面的图表中,我们对实耐宝以前的ROCE进行了测量,但未来可能更为重要。如果您想了解分析师未来的预测,可以查看我们免费的实耐宝分析师报告。
What Does the ROCE Trend For Snap-on Tell Us?
实耐宝的ROCE趋势告诉我们什么?
It's hard not to be impressed by Snap-on's returns on capital. The company has employed 48% more capital in the last five years, and the returns on that capital have remained stable at 20%. With returns that high, it's great that the business can continually reinvest its money at such appealing rates of return. You'll see this when looking at well operated businesses or favorable business models.
实耐宝资本的回报率令人印象深刻。公司在过去五年中的资本雇用量增长了48%,并且该资本的回报率在20%左右保持稳定。回报率如此之高,这家公司以这样有吸引力的回报率不断地重新投资资金。当看到运营良好的企业或有利的商业模式时,您将会看到这一点。
Our Take On Snap-on's ROCE
我们对实耐宝的ROCE的看法
Snap-on has demonstrated its proficiency by generating high returns on increasing amounts of capital employed, which we're thrilled about. And long term investors would be thrilled with the 101% return they've received over the last five years. So while the positive underlying trends may be accounted for by investors, we still think this stock is worth looking into further.
实耐宝通过产生高收益率来表现其高超的工作能力,并增加资本雇用的金额,这让我们感到非常高兴。长期投资者在过去五年中获得了101%的回报,他们将会非常高兴。因此,尽管积极的基本趋势可能已被投资者考虑到,我们仍认为这支股票值得进一步了解。
If you'd like to know about the risks facing Snap-on, we've discovered 1 warning sign that you should be aware of.
如果您想了解实耐宝面临的风险,我们已发现1个警告信号,您应该知道。
High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.
高回报率是强劲表现的关键因素,因此请查看我们的免费股票列表,其中列出了盈利能力强、资产负债表坚实的股票。
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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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