Dine Brands Global (NYSE:DIN) Is Doing The Right Things To Multiply Its Share Price
Dine Brands Global (NYSE:DIN) Is Doing The Right Things To Multiply Its Share Price
If you're looking for a multi-bagger, there's a few things to keep an eye out for. 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. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. Speaking of which, we noticed some great changes in Dine Brands Global's (NYSE:DIN) returns on capital, so let's have a look.
如果您正在寻找一个多倍股票，需要关注一些事项。一种常见的方法是尝试找到一个投资在业务上的资本回报率（ROCE）随着被投资的资本增加，ROCE也在增长的公司。这表明该公司是一个复合机器，能够持续将其收益再投资回业务中并产生更高的回报。顺便说一下，我们注意到Dine Brands Global（NYSE：DIN）的资本回报率有很大的变化，所以让我们来看一下。
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. To calculate this metric for Dine Brands Global, this is the formula:
只是为了澄清，如果您不确定ROCE是什么，它是一种用于评估公司在其业务中投资的资本上赚取多少税前收入（以百分比形式）。为了计算Dine Brands Global的该指标，这是公式：
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。
0.14 = US$181m ÷ (US$1.7b - US$410m) (Based on the trailing twelve months to March 2024).
0.14= US$ 181 million ／（US$ 1.7 billion-US$ 410 million）（基于2024年3月的过去12个月）。
Thus, Dine Brands Global has an ROCE of 14%. In absolute terms, that's a satisfactory return, but compared to the Hospitality industry average of 11% it's much better.
因此，Dine Brands Global的ROCE为14％。就绝对值而言，这是一个令人满意的回报，但与酒店业平均值11%相比，表现要好得多。
In the above chart we have measured Dine Brands Global's 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 Dine Brands Global .
在以上图表中，我们测量了Dine Brands Global的历史ROCE与其历史表现相比，但未来可能更为重要。如果您感兴趣，可以查看我们为Dine Brands Global提供的免费分析师报告中的分析预测。
The Trend Of ROCE
当寻找下一个倍增器时，如果您不确定从哪里开始，请关注几个关键趋势。首先，我们希望看到一个经过验证的资本使用率。如果您看到这一点，通常意味着这是一家拥有出色业务模式和大量盈利再投资机会的公司。然而，调查蒙托克可再生能源公司（NASDAQ：MNTK）后，我们认为它的现行趋势不符合倍增器的模式。
Dine Brands Global has not disappointed in regards to ROCE growth. The figures show that over the last five years, returns on capital have grown by 29%. The company is now earning US$0.1 per dollar of capital employed. In regards to capital employed, Dine Brands Global appears to been achieving more with less, since the business is using 28% less capital to run its operation. A business that's shrinking its asset base like this isn't usually typical of a soon to be multi-bagger company.
Dine Brands Global在ROCE增长方面没有让人失望。数据显示，在过去的五年中，资本回报率增长了29%。公司现在每使用1美元的资本就可以赚取0.1美元。就资本投入而言，Dine Brands Global似乎在运营控件方面发挥了更多的作用，因为该业务使用的资本比其他企业少28%。这样缩小资产基础的业务通常不是即将成为多重良机的公司的典型特征。
What We Can Learn From Dine Brands Global's ROCE
从Dine Brands Global的ROCE中我们能学到什么?
In summary, it's great to see that Dine Brands Global has been able to turn things around and earn higher returns on lower amounts of capital. Astute investors may have an opportunity here because the stock has declined 52% in the last five years. So researching this company further and determining whether or not these trends will continue seems justified.
总体而言，看到Dine Brands Global能够扭转局面并以更少的资本获得更高回报是令人高兴的。精明的投资者可能会发现机会，因为过去五年股票下跌了52％。因此，进一步研究这家公司并确定这些趋势是否会持续是有道理的。
One final note, you should learn about the 3 warning signs we've spotted with Dine Brands Global (including 2 which don't sit too well with us) .
最后一点，您应该了解我们在Dine Brands Global中发现的三个警告信号（其中两个对我们来说不太好）
While Dine Brands Global 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.
虽然Dine Brands Global目前可能没有获得最高的回报，但我们已编制了一份目前获得25％以上的股本回报率的公司清单。在此处查看免费清单。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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。
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。