Globant (NYSE:GLOB) Might Be Having Difficulty Using Its Capital Effectively
Globant (NYSE:GLOB) Might Be Having Difficulty Using Its Capital Effectively
What are the early trends we should look for to identify a stock that could multiply in value over the long term? 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 Globant (NYSE:GLOB) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
为了识别出长期可能会翻倍增长的股票,我们需要注意一些早期趋势。其中,我们希望看到两个方面:首先,资本利用率(ROCE)的增长;其次,资本利用量的扩张。这最终证明了一家企业在以递增的收益率重新投资利润。然而,简单查看了一下数据后,我们认为Globant(纽交所:GLOB)在未来不具备成倍增长的潜力,但我们来看看可能的原因。
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. The formula for this calculation on Globant is:
如果您不确定ROCE是什么,它衡量了公司能够从其业务资本中产生的税前利润的数量。Globant的计算公式如下:
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。
0.11 = US$237m ÷ (US$2.6b - US$551m) (Based on the trailing twelve months to June 2024).
0.11 = 2.37亿美元 ÷ (26亿美元 - 5.51亿美元)(基于截至2024年6月的过去十二个月)。
So, Globant has an ROCE of 11%. By itself that's a normal return on capital and it's in line with the industry's average returns of 11%.
因此,Globant的ROCE为11%。单独看来,这是正常的资本回报率,并且与行业平均回报率11%一致。
![1724929158238](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240829/43062197-0-4777a8ee3fc168f780d9c004541fc82f.webp/bigjpg)
In the above chart we have measured Globant's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free analyst report for Globant .
在上面的图表中,我们测量了Globant之前的ROCE与其以前的表现相比,但未来可能更重要。如果您感兴趣,可以查看我们为Globant提供的免费分析师报告。
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。
When we looked at the ROCE trend at Globant, we didn't gain much confidence. Around five years ago the returns on capital were 17%, but since then they've fallen to 11%. However, given capital employed and revenue have both increased it appears that the business is currently pursuing growth, at the consequence of short term returns. If these investments prove successful, this can bode very well for long term stock performance.
当我们查看Globant的ROCE趋势时,我们并没有太多信心。大约五年前,资本回报率为17%,但自那时以来已下降至11%。然而,鉴于资本使用和营业收入均有所增加,公司目前似乎正在追求增长,以牺牲短期回报。如果这些投资证明成功,这对于长期股票表现非常有利。
The Bottom Line On Globant's ROCE
Globant的ROCE结论
Even though returns on capital have fallen in the short term, we find it promising that revenue and capital employed have both increased for Globant. And long term investors must be optimistic going forward because the stock has returned a huge 110% to shareholders in the last five years. So while the underlying trends could already be accounted for by investors, we still think this stock is worth looking into further.
尽管短期内资本回报率有所下降,但对于Globant来说,令人振奋的是营业收入和资本使用均有所增加。从长期投资者的角度来看,他们必须对未来持乐观态度,因为该股最近五年为股东提供了高达110%的回报。因此,尽管潜在趋势可能已被投资者考虑在内,我们仍认为这只股票值得进一步研究。
On a final note, we've found 1 warning sign for Globant that we think you should be aware of.
最后我们发现了Globant的1个警告信号,我们认为您应该注意。
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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