Lands' End's (NASDAQ:LE) Returns Have Hit A Wall
Lands' End's (NASDAQ:LE) Returns Have Hit A Wall
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base 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. In light of that, when we looked at Lands' End (NASDAQ:LE) and its ROCE trend, we weren't exactly thrilled.
你知道有一些金融指标可以提供潜在多倍股的线索吗?首先,我们需要确定不断增长的资本使用回报率(ROCE),然后在此基础上,不断增长的资本使用基数。简而言之,这些类型的企业是复利机器,这意味着它们在不断以更高的利率再投资其收益。考虑到这一点,当我们观察Lands' End (纳斯达克LE)和其ROCE趋势时,并不是很令人兴奋。
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 Lands' End:
对于那些不确定ROCE是什么的人,它衡量了一家公司可以从其业务中使用的资本创造多少税前利润。分析师使用此公式计算Lands' End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。
0.051 = US$29m ÷ (US$800m - US$219m) (Based on the trailing twelve months to May 2024).
0.051 = 2900万美元 ÷ (80000万美元 - 2190万美元)(截至2024年5月的过去12个月)
Therefore, Lands' End has an ROCE of 5.1%. In absolute terms, that's a low return and it also under-performs the Specialty Retail industry average of 12%.
因此,Lands' End的ROCE为5.1%。就绝对金额而言,这是一个低回报,并且也表现不如专业零售行业板块的平均水平(12%)。
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Above you can see how the current ROCE for Lands' End compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for Lands' End .
您可以看到Lands' End的当前ROCE如何与其以往的资本回报相比,但过去只能获取有限的信息。如果您感兴趣,您可以在我们为Lands' End准备的免费分析师报告中查看分析师对其未来的预测。
How Are Returns Trending?
综合上述,Cimpress非常有效地提高了其资本利用率所产生的回报。考虑到股票过去五年保持稳定,如果其他指标也不错,则可能存在机会。因此,进一步研究这家公司并确定这些趋势是否会持续是合理的。
We've noticed that although returns on capital are flat over the last five years, the amount of capital employed in the business has fallen 26% in that same period. This indicates to us that assets are being sold and thus the business is likely shrinking, which you'll remember isn't the typical ingredients for an up-and-coming multi-bagger. In addition to that, since the ROCE doesn't scream "quality" at 5.1%, it's hard to get excited about these developments.
我们注意到,尽管在过去的五年中资本回报率稳定,但同一时期业务中使用的资本量下降了26%。这表明我们正在出售资产,因此业务很可能在缩小,这并不是潜在多倍股的典型组成部分。此外,由于ROCE并没有以5.1%的速度“质量”喊出来,因此难以对这些发展感到兴奋。
The Key Takeaway
重要提示
It's a shame to see that Lands' End is effectively shrinking in terms of its capital base. Since the stock has gained an impressive 52% over the last five years, investors must think there's better things to come. Ultimately, if the underlying trends persist, we wouldn't hold our breath on it being a multi-bagger going forward.
很遗憾看到Lands' End在其资本基础方面实际上正在缩小。由于股票在过去五年中的涨幅达到了52%,投资者肯定认为会有更好的事情发生。最终,如果基本趋势持续下去,我们将不抱有对其未来成为多倍股的期望。
Like most companies, Lands' End does come with some risks, and we've found 1 warning sign that you should be aware of.
像大多数企业一样,Lands'End也存在一些风险,我们发现了1个警告信号,您应该注意。
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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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。