ITT (NYSE:ITT) Is Looking To Continue Growing Its Returns On Capital
ITT (NYSE:ITT) Is Looking To Continue Growing Its Returns On Capital
There are a few key trends to look for if we want to identify the next multi-bagger. 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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. So on that note, ITT (NYSE:ITT) looks quite promising in regards to its trends of return on capital.
如果我们想要识别下一个多倍收益，有一些关键趋势值得关注。在完美世界中，我们希望看到一家公司将更多资本投入到业务中，理想情况下，资本带来的回报也在增加。简单来说，这些类型的业务是复利机器，意味着它们不断以越来越高的回报率重新投资他们的收益。因此，从这个角度看，ITT（纽交所：ITt）在资本回报率的趋势方面看起来相当有前途。
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. Analysts use this formula to calculate it for ITT:
对于那些不确定什么是ROCE的人，ROCE衡量公司能够从其业务中所使用的资本中产生多少税前利润。分析师使用这个公式来计算ITT的ROCE：
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。
0.18 = US$571m ÷ (US$4.4b - US$1.2b) (Based on the trailing twelve months to June 2024).
0.18 = 5.71亿美元 ÷ （440亿美元 - 12亿美元）（基于截至2024年6月的过去十二个月）。
Therefore, ITT has an ROCE of 18%. On its own, that's a standard return, however it's much better than the 13% generated by the Machinery industry.
因此，ITt的ROCE为18%。单独看来，这是一个标准的回报，但它比机械行业的13%要好得多。
In the above chart we have measured ITT'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 ITT .
在上面的图表中，我们对ITT之前的ROCE与之前的表现进行了比较，但未来才是更重要的。如果您有兴趣，可以查看我们针对ITT的免费分析师报告中的分析师预测。
The Trend Of ROCE
当寻找下一个倍增器时，如果您不确定从哪里开始，请关注几个关键趋势。首先，我们希望看到一个经过验证的资本使用率。如果您看到这一点，通常意味着这是一家拥有出色业务模式和大量盈利再投资机会的公司。然而，调查蒙托克可再生能源公司（NASDAQ：MNTK）后，我们认为它的现行趋势不符合倍增器的模式。
ITT has not disappointed with their ROCE growth. The figures show that over the last five years, ROCE has grown 50% whilst employing roughly the same amount of capital. 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.
在ROCE的增长方面，ITT并没有令人失望。数据显示，在过去的五年里，ROCE增长了50%，同时资本投入基本持平。因此，很可能业务正在充分受益于过去的投资，因为资本投入并没有发生显著变化。不过，值得深入研究一下，因为虽然业务更加高效，但这也可能意味着在内部寻求有机增长的领域不足。
In Conclusion...
最后，同等资本下回报率较低的趋势通常不是我们关注创业板股票的最佳信号。由于这些发展进行良好，因此投资者不太可能表现友好。自五年前以来，该股下跌了32%。除非这些指标朝着更积极的轨迹转变，否则我们将继续寻找其他股票。
In summary, we're delighted to see that ITT has been able to increase efficiencies and earn higher rates of return on the same amount of capital. And a remarkable 144% total return over the last five years tells us that investors are expecting more good things to come in the future. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.
总的来说，我们很高兴看到ITT能够在同等资本投入的情况下提高效率并获得更高的回报率。在过去的五年里，总回报率达到了惊人的144%，这告诉我们投资者对未来有更多好事期待。因此，鉴于这支股票已经证明了具有良好的趋势，值得进一步研究该公司，以确定这些趋势是否有望持续。
Before jumping to any conclusions though, we need to know what value we're getting for the current share price. That's where you can check out our FREE intrinsic value estimation for ITT that compares the share price and estimated value.
然而，在得出任何结论之前，我们需要知道当前股价所对应的价值。这就是您可以查看我们针对ITT的自由内在价值估算的地方，可以比较股价和预估价值。
While ITT may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
虽然ITT目前可能没有获得最高的回报率，但我们已经编制了一个超过25%股权回报率的公司名单。在这里查看这个免费名单。
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