The Trend Of High Returns At CVR Energy (NYSE:CVI) Has Us Very Interested
The Trend Of High Returns At CVR Energy (NYSE:CVI) Has Us Very Interested
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. 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. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. So when we looked at the ROCE trend of CVR Energy (NYSE:CVI) we really liked what we saw.
如果我们想要找到一个潜在的倍增器,通常会有一些潜在的趋势可以提供线索。其中,我们希望看到两件事情;首先,不断增长的资本使用回报率(ROCE),其次,公司使用的资本量不断扩大。这表明公司是一个持续复利的机器,能够持续将其盈利再投资到业务中,产生更高的回报。所以当我们查看CVR能源(纽交所:CVI)的ROCE趋势时,我们真的很喜欢我们所看到的。
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。
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for CVR Energy:
如果您之前没有使用过ROCE,则它衡量公司从其业务中使用的资本所生成的“回报”(税前利润)的能力。分析师使用此公式为CVR能源进行计算:
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。
0.24 = US$721m ÷ (US$4.0b - US$1.0b) (Based on the trailing twelve months to June 2024).
0.24 = 7.21亿美元 ÷ (400亿美元 - 10亿美元)(基于截至2024年6月的过去十二个月)。
Therefore, CVR Energy has an ROCE of 24%. In absolute terms that's a great return and it's even better than the Oil and Gas industry average of 12%.
因此,CVR能源的ROCE为24%。就绝对值而言,这是一种很好的回报,甚至比石油和天然气行业的平均水平还要好12%。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240813/0-1e03e9011e7989d2584866f5eb983010-0-ab7c743f600d63694081d00b86ab4a1f.png/big)
Above you can see how the current ROCE for CVR Energy 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 CVR Energy .
上面您可以看到CVR能源当前的ROCE与其过去的资本回报率相比如何,但从过去的数据中能得到的信息有限。如果您感兴趣,您可以在我们的CVR能源免费分析报告中查看分析师的预测。
So How Is CVR Energy's ROCE Trending?
那么,CVR能源的ROCE走势如何?
CVR Energy has not disappointed with their ROCE growth. The figures show that over the last five years, ROCE has grown 28% whilst employing roughly the same amount of capital. Basically the business is generating higher returns from the same amount of capital and that is proof that there are improvements in the company's efficiencies. On that front, things are looking good so it's worth exploring what management has said about growth plans going forward.
CVR能源的ROCE增长表现不俗。数据显示,在过去的五年中,虽然使用的资本大致相同,ROCE增长了28%。基本上,该企业从同样的资本中产生了更高的回报,这证明公司的效率有所改善。在这方面,事情正在好转,因此值得探究管理层对未来增长计划的看法。
For the record though, there was a noticeable increase in the company's current liabilities over the period, so we would attribute some of the ROCE growth to that. Effectively this means that suppliers or short-term creditors are now funding 26% of the business, which is more than it was five years ago. It's worth keeping an eye on this because as the percentage of current liabilities to total assets increases, some aspects of risk also increase.
不过,值得一提的是,公司目前负债有所增加,因此我们应该将ROCE增长的一部分归因于此。实际上,这意味着供应商或短期债务人正在为该业务提供资金,这比五年前更多。这值得关注,因为随着当期负债占总资产的比例增加,某些风险因素也会增加。
What We Can Learn From CVR Energy's ROCE
总之,CVR能源从相同的资本中获得了更高的回报,这非常值得称赞。考虑到该股票在过去五年中为股东提供了14%的回报率,可能公众还没有充分认识到这些有前途的趋势。因此,如果估值和其他指标相符,进一步了解这只股票可能会发现一个好机会。
To sum it up, CVR Energy is collecting higher returns from the same amount of capital, and that's impressive. Considering the stock has delivered 14% to its stockholders over the last five years, it may be fair to think that investors aren't fully aware of the promising trends yet. So exploring more about this stock could uncover a good opportunity, if the valuation and other metrics stack up.
还有一点:我们已经确认CVR能源存在3个警告信号,其中至少有1个不应该被忽略,理解这些信号肯定会很有用。
One more thing: We've identified 3 warning signs with CVR Energy (at least 1 which shouldn't be ignored) , and understanding these would certainly be useful.
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。