Akamai Technologies (NASDAQ:AKAM) Might Be Having Difficulty Using Its Capital Effectively
Akamai Technologies (NASDAQ:AKAM) Might Be Having Difficulty Using Its Capital Effectively
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. However, after briefly looking over the numbers, we don't think Akamai Technologies (NASDAQ:AKAM) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
你知道吗,有些财务指标可以提供潜在超级赚家的线索?在其他事情中,我们需要看到两件事;首先,不断增长的资本雇用回报率(ROCE),其次是公司资本雇用的增长。从根本上说,这证明这是一家正在以逐渐增加的回报率重新投资利润的企业。然而,经过简短地查看数字,我们不认为阿克迈技术(NASDAQ:AKAM)有成为多倍增长者的潜力,但让我们看看可能的原因。
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源现行ROCE与之前资本回报的比较,但过去只能知道这么多。如果您感兴趣,可以查看我们免费的蒙托克可再生能源分析师报告,了解分析师的预测。
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. Analysts use this formula to calculate it for Akamai Technologies:
对于那些不确定ROCE是什么的人,它衡量的是公司从其业务所投入的资本中可以创造出净利润的数量。分析师使用这个公式计算阿克迈技术的ROCE:
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。
0.076 = US$697m ÷ (US$9.9b - US$809m) (Based on the trailing twelve months to March 2024).
0.076 = 6.97亿美元 ÷(99亿美元-8.09亿美元)(基于2024年3月的过去12个月)。
Thus, Akamai Technologies has an ROCE of 7.6%. In absolute terms, that's a low return and it also under-performs the IT industry average of 11%.
因此,阿克迈技术的ROCE为7.6%。从绝对值上看,这是一个较低的回报率,而且也低于行业平均水平11%。
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In the above chart we have measured Akamai Technologies' 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 Akamai Technologies .
在上面的图表中,我们测量了阿克迈技术以前的ROCE与其以前的表现相比,但未来可能更重要。如果您想查看分析师预测未来的走势,可以查看我们免费的阿克迈技术分析师报告。
What Does the ROCE Trend For Akamai Technologies Tell Us?
阿克迈技术的ROCE趋势告诉我们什么?
In terms of Akamai Technologies' historical ROCE movements, the trend isn't fantastic. To be more specific, ROCE has fallen from 11% over the last five years. However it looks like Akamai Technologies 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's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
在阿克迈技术历史ROCE的变动方面,趋势并不理想。更具体地说,ROCE在过去五年中从11%下降至现在的水平。但是似乎阿克迈技术可能正在为长期增长重新投资,因为虽然资本雇用已经增加,但公司的销售收入在过去12个月中并没有太大变化。值得关注的是,从现在开始检视公司的收益,以查看这些投资是否最终对底线产生贡献。
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。
Bringing it all together, while we're somewhat encouraged by Akamai Technologies' reinvestment in its own business, we're aware that returns are shrinking. And with the stock having returned a mere 15% in the last five years to shareholders, you could argue that they're aware of these lackluster trends. So if you're looking for a multi-bagger, the underlying trends indicate you may have better chances elsewhere.
总的来说,虽然我们对阿克迈技术自己业务的再投资感到有些鼓舞,但我们意识到回报正在缩水。随着股票在过去五年中仅为股东带来了15%的回报,您可以认为他们意识到这些平庸的趋势。因此,如果您正在寻找多倍增长者,基本趋势表明您可能在其他地方有更好的机会。
If you want to continue researching Akamai Technologies, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果您想继续研究阿克迈技术,您可能会对我们分析发现的1个警告标志感兴趣。
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
如果您想寻找财务状况良好、回报卓越的实力强企业,可以免费查看以下公司列表。
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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。