Investors Will Want Westinghouse Air Brake Technologies' (NYSE:WAB) Growth In ROCE To Persist
Investors Will Want Westinghouse Air Brake Technologies' (NYSE:WAB) Growth In ROCE To Persist
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount 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. So when we looked at Westinghouse Air Brake Technologies (NYSE:WAB) and its trend of ROCE, we really liked what we saw.
我们应该寻找哪些早期趋势来找到一只能在长期内增值的股票? 理想情况下,一家企业会呈现两个趋势; 首先是不断增长的资本雇用回报率(ROCE),其次是越来越多的资本雇用。 如果您看到这一点,通常意味着它是一家拥有出色的商业模型和大量有利可图的再投资机会的公司。 所以当我们看到Westinghouse Air Brake Technologies(纽约证券交易所:WAB)和其ROCE的趋势时,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。
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 Westinghouse Air Brake Technologies is:
对于那些不确定ROCE是什么的人来说,它衡量了一家公司从其经营的资本中可以产生多少税前利润。 计算Westinghouse Air Brake Technologies的ROCE的公式是:
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。
0.10 = US$1.6b ÷ (US$19b - US$3.6b) (Based on the trailing twelve months to June 2024).
0.10 = 16亿美元 ÷ (190亿美元 - 36亿美元)(基于截至2024年6月的过去十二个月)。
So, Westinghouse Air Brake Technologies has an ROCE of 10%. In isolation, that's a pretty standard return but against the Machinery industry average of 13%, it's not as good.
因此,美国西屋制动技术的ROCE为10%。 孤立看来,这是一个相当标准的回报率,但与机械行业的平均回报率13%相比,它并不那么好。
![1724938175520](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240829/43071752-0-92ac3430127245a2970f951cb207bd45.webp/bigjpg)
In the above chart we have measured Westinghouse Air Brake Technologies' 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 Westinghouse Air Brake Technologies .
在上面的图表中,我们对美国西屋制动以往的 ROCE 进行了衡量,但未来可能更加重要。如果您想了解分析师对未来的预测,请查看我们针对美国西屋制动的免费分析师报告。
So How Is Westinghouse Air Brake Technologies' ROCE Trending?
那么,美国西屋制动的 ROCE 趋势如何?
Westinghouse Air Brake Technologies is showing promise given that its ROCE is trending up and to the right. Looking at the data, we can see that even though capital employed in the business has remained relatively flat, the ROCE generated has risen by 100% over the last five years. So it's likely that the business is now reaping the full benefits of its past investments, since the capital employed hasn't changed considerably. It's worth looking deeper into this though because while it's great that the business is more efficient, it might also mean that going forward the areas to invest internally for the organic growth are lacking.
美国西屋制动的 ROCE 呈现上升趋势且向右偏离,这显示出潜力。从数据来看,虽然业务中使用的资本保持相对稳定,但在过去的五年中,所产生的 ROCE 上升了 100%。因此,很可能该业务正在收获其过去投资的全部收益,因为所使用的资本并没有发生显著变化。然而,有必要对此进行更深入的研究,因为虽然业务更加高效,但这也可能意味着在未来,内部投资的有机增长领域可能不足。
The Bottom Line
还有一件事需要注意的是,我们已经确定了上海医药的2个警告信号,了解这些信号应该成为你的投资过程的一部分。
To sum it up, Westinghouse Air Brake Technologies is collecting higher returns from the same amount of capital, and that's impressive. And a remarkable 158% total return over the last five years tells us that investors are expecting more good things to come in the future. Therefore, we think it would be worth your time to check if these trends are going to continue.
总的来说,美国西屋制动从相同的资本中获得了更高的回报,这是令人印象深刻的。过去五年的 158% 总回报告诉我们,投资者预计未来会有更多好事发生。因此,我们认为您值得花时间去查看这些趋势是否会持续下去。
On a final note, we've found 1 warning sign for Westinghouse Air Brake Technologies that we think you should be aware of.
最后,我们发现了一个关于美国西屋制动的警告信号,我们认为您应该知道。
While Westinghouse Air Brake Technologies isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
虽然美国西屋制动的回报率并不是最高的,但请查看此免费公司列表,这些公司的净资产收益率很高且财务状况良好。
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