Returns At PPG Industries (NYSE:PPG) Appear To Be Weighed Down
Returns At PPG Industries (NYSE:PPG) Appear To Be Weighed Down
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base 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 ran our eye over PPG Industries' (NYSE:PPG) trend of ROCE, we liked what we saw.
你知道有些金融指标可以提供潜在成长股的线索吗?首先,我们希望看到资本雇用回报率(ROCE)逐年增长,其次是不断扩大的资本雇用基础。这表明该公司是一台复合机器,能够不断地将收益重新投入业务中并产生更高的回报。因此,当我们审视PPG工业(NYSE:PPG) ROCE的趋势时,我们喜欢我们所看到的。
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 PPG Industries is:
对于那些不确定什么是ROCE的人来说,它衡量了一家公司从其业务所使用的资本中能够产生多少税前利润。此计算公式用于PPG工业的结果为:
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$2.3b ÷ (US$22b - US$5.2b) (Based on the trailing twelve months to June 2024).
0.14 = US$23亿 ÷ (US$220亿 - US$5.2b) (以2024年6月的过去12个月为基础得出)。
Thus, PPG Industries has an ROCE of 14%. On its own, that's a standard return, however it's much better than the 8.9% generated by the Chemicals industry.
因此,PPG工业的ROCE为14%。单独看,这是一个标准的回报,但它比化学品行业的8.9%要好得多。
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Above you can see how the current ROCE for PPG Industries compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for PPG Industries .
您可以看到PPG工业目前的ROCE与其过去的资本回报相比如何,但过去只能看到有限的信息。如果您想了解分析师对其未来的预测,可以查阅我们免费的PPG工业分析师报告。
What Does the ROCE Trend For PPG Industries Tell Us?
PPG工业ROCE趋势告诉我们什么?
While the current returns on capital are decent, they haven't changed much. The company has employed 25% more capital in the last five years, and the returns on that capital have remained stable at 14%. 14% is a pretty standard return, and it provides some comfort knowing that PPG Industries has consistently earned this amount. Stable returns in this ballpark can be unexciting, but if they can be maintained over the long run, they often provide nice rewards to shareholders.
虽然当前的资本回报率相当不错,但它们并没有发生太大的变化。在过去五年中,该公司的资本投入增加了25%,但资本回报率仍保持在14%的稳定水平。14%是一个相当标准的回报,而且知道PPG工业一直能够稳定地获得这样的回报也为人们提供了一定的安慰。虽然球场上的稳定回报可能不够激动人心,但如果它们能够长期保持,通常会为股东带来不错的回报。
The Key Takeaway
重要提示
The main thing to remember is that PPG Industries has proven its ability to continually reinvest at respectable rates of return. However, over the last five years, the stock has only delivered a 25% return to shareholders who held over that period. That's why it could be worth your time looking into this stock further to discover if it has more traits of a multi-bagger.
需要记住的主要事情是PPG工业已经证明了其能够以可观的回报率不断地进行再投资。然而,在过去的五年中,该股票仅为那些持有超过此期间的股东提供了25%的回报。这就是为什么你有必要更深入地了解这个股票,看看它是否具备成为潜在的成长股的更多特点。
On a final note, we've found 1 warning sign for PPG Industries that we think you should be aware of.
最后,我们发现PPG工业存在1个警告信号,我们认为你应该注意一下。
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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