AppLovin (NASDAQ:APP) Is Reinvesting To Multiply In Value
AppLovin (NASDAQ:APP) Is Reinvesting To Multiply In Value
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. Ergo, when we looked at the ROCE trends at AppLovin (NASDAQ:APP), we liked what we saw.
要寻找一只倍增的股票,我们应该在业务中寻找哪些基本趋势?首先,我们希望看到显著增加的资本雇用回报率(ROCE),其次是资本雇用基础的扩大。如果您看到了这一点,通常意味着这是一家具有出色业务模式和大量有利可图的再投资机会的公司。因此,当我们查看AppLovin(NASDAQ:APP)的ROCE趋势时,我们喜欢所看到的。
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。
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 AppLovin is:
对于那些不清楚ROCE是什么的人,它衡量公司可以从其业务中使用的资本产生的税前利润的数量。在AppLovin的这个计算公式的基础上:
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。
0.26 = US$1.2b ÷ (US$5.3b - US$730m) (Based on the trailing twelve months to June 2024).
0.26 = US$12亿 ÷ (US$53亿 - US$730m) (基于截至2024年6月的过去十二个月)。
Therefore, AppLovin has an ROCE of 26%. That's a fantastic return and not only that, it outpaces the average of 7.9% earned by companies in a similar industry.
因此,AppLovin的ROCE为26%。这是一个极好的回报,不仅如此,它还超过了同行业公司7.9%的平均水平。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240810/0-cf8c4e66a01c6a8cbb3fca0148f37661-0-aa7bade5694442e97d41a40f834025c3.png/big)
In the above chart we have measured AppLovin'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 AppLovin .
在上面的图表中,我们测量了AppLovin的过去ROCE与其过去表现相比,但未来可能更重要。如果您想查看分析师对前景的预测,您应该查看我们的免费AppLovin分析师报告。
So How Is AppLovin's ROCE Trending?
那么,AppLovin的ROCE趋势如何?
In terms of AppLovin's history of ROCE, it's quite impressive. The company has consistently earned 26% for the last five years, and the capital employed within the business has risen 557% in that time. Now considering ROCE is an attractive 26%, this combination is actually pretty appealing because it means the business can consistently put money to work and generate these high returns. You'll see this when looking at well operated businesses or favorable business models.
在AppLovin的ROCE历史方面,它非常令人印象深刻。该公司在过去的五年中一直赚取26%的利润,并且业务中使用的资本增长了557%。现在考虑到ROCE是26%,这种组合实际上非常吸引人,因为它意味着该业务可以持续投入资金并产生高回报。在经营良好的企业或有利可图的业务模式中,您会看到这一点。
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。
AppLovin has demonstrated its proficiency by generating high returns on increasing amounts of capital employed, which we're thrilled about. And since the stock has risen strongly over the last three years, it appears the market might expect this trend to continue. So even though the stock might be more "expensive" than it was before, we think the strong fundamentals warrant this stock for further research.
AppLovin已通过增加雇用的资本产生高回报来展示其专业能力,这让我们非常高兴。由于股票在过去三年中大幅上涨,市场似乎预计这种趋势将继续下去。因此,即使股票比以前更“昂贵”,我们认为强大的基本面使这支股票值得进一步研究。
One more thing, we've spotted 2 warning signs facing AppLovin that you might find interesting.
还有一件事,我们发现AppLovin面临两个警告信号可能会让您感到有趣。
If you want to search for more stocks that have been earning high returns, check out this free list of stocks with solid balance sheets that are also earning high returns on equity.
如果您想寻找更多获得高回报的股票,请查看这个免费股票列表,这些股票不仅有扎实的资产负债表,而且还有高回报率。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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。