Lennox International (NYSE:LII) Is Aiming To Keep Up Its Impressive Returns
Lennox International (NYSE:LII) Is Aiming To Keep Up Its Impressive Returns
If you're looking for a multi-bagger, there's a few things to keep an eye out for. In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. 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 Lennox International (NYSE:LII), we liked what we saw.
如果你正在寻找一款多功能装袋机,有几件事需要注意。在一个完美的世界中,我们希望看到一家公司向其业务投入更多资本,理想情况下,从这些资本中获得的回报也在增加。如果你看到这一点,这通常意味着它是一家拥有良好商业模式和大量盈利再投资机会的公司。因此,当我们查看伦诺克斯国际(纽约证券交易所代码:LII)的投资回报率趋势时,我们喜欢我们所看到的。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Lennox International is:
对于那些不知道的人来说,ROCE是衡量公司年度税前利润(其回报率)的指标,相对于该业务使用的资本。伦诺克斯国际的计算公式为:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已动用资本回报率 = 息税前收益 (EBIT) ¥(总资产-流动负债)
0.43 = US$904m ÷ (US$3.2b - US$1.1b) (Based on the trailing twelve months to June 2024).
0.43 = 9.04亿美元 ÷(32亿美元至11亿美元)(基于截至2024年6月的过去十二个月)。
So, Lennox International has an ROCE of 43%. In absolute terms that's a great return and it's even better than the Building industry average of 16%.
因此,伦诺克斯国际的投资回报率为43%。从绝对值来看,这是一个不错的回报,甚至比建筑行业16%的平均水平还要好。
![](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240901/47338591-0-37eb38ace0c722a89f5aa45fac4b5f7e.avif/big)
NYSE:LII Return on Capital Employed September 1st 2024
纽约证券交易所:LII 2024 年 9 月 1 日动用资本回报率
In the above chart we have measured Lennox International'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 Lennox International .
在上图中,我们将伦诺克斯国际先前的投资回报率与之前的表现进行了比较,但可以说,未来更为重要。如果您有兴趣,可以在我们的伦诺克斯国际免费分析师报告中查看分析师的预测。
The Trend Of ROCE
ROCE 的趋势
In terms of Lennox International's history of ROCE, it's quite impressive. The company has consistently earned 43% for the last five years, and the capital employed within the business has risen 67% in that time. With returns that high, it's great that the business can continually reinvest its money at such appealing rates of return. If Lennox International can keep this up, we'd be very optimistic about its future.
就伦诺克斯国际的ROCE历史而言,它给人留下了深刻的印象。在过去五年中,该公司的收入一直保持在43%,在此期间,公司内部使用的资本增长了67%。在回报如此之高的情况下,企业能够持续以如此诱人的回报率进行资金再投资真是太好了。如果伦诺克斯国际能够继续保持这种状态,我们将对其未来非常乐观。
One more thing to note, even though ROCE has remained relatively flat over the last five years, the reduction in current liabilities to 34% of total assets, is good to see from a business owner's perspective. Effectively suppliers now fund less of the business, which can lower some elements of risk.
还有一件事需要注意,尽管投资回报率在过去五年中一直保持相对平稳,但从企业主的角度来看,流动负债减少到总资产的34%还是不错的。实际上,供应商现在减少了对业务的资助,这可以降低某些风险因素。
The Bottom Line On Lennox International's ROCE
伦诺克斯国际投资回报率的底线
Lennox International has demonstrated its proficiency by generating high returns on increasing amounts of capital employed, which we're thrilled about. And the stock has done incredibly well with a 155% return over the last five years, so long term investors are no doubt ecstatic with that result. So even though the stock might be more "expensive" than it was before, we think the strong fundamentals warrant this stock for further research.
Lennox International通过利用不断增加的资本获得高回报来证明了自己的能力,我们对此感到非常兴奋。在过去五年中,该股表现非常出色,回报率为155%,因此,长期投资者无疑对这一结果欣喜若狂。因此,尽管该股可能比以前更 “昂贵”,但我们认为强劲的基本面值得该股进行进一步研究。