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Returns On Capital At Moog (NYSE:MOG.A) Have Hit The Brakes

Returns On Capital At Moog (NYSE:MOG.A) Have Hit The Brakes

纽交所(NYSE:MOG.A)的资本回报率出现了下滑
Simply Wall St ·  09/06 06:35

What trends should we look for it we want to identify stocks that can 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. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. That's why when we briefly looked at Moog's (NYSE:MOG.A) ROCE trend, we were pretty happy with what we saw.

如果我们想要找到能够长期倍增价值的股票,我们应该关注哪些趋势呢?理想情况下,一个企业应该展现出两个趋势;首先是不断增长的资本使用回报率(ROCE),其次是不断增加的资本使用量。这表明这是一个复利机器,能够持续将收益再投资到业务中,产生更高的回报。这就是为什么当我们简要查看了Moog(纽交所:MOG.A)的ROCE趋势时,我们对所看到的内容感到非常满意。

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。

If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for Moog:

如果您以前没有使用ROCE,它衡量了公司从实际投入的资本中所获得的“回报”(税前利润)。分析师使用以下公式来计算Moog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。

0.13 = US$388m ÷ (US$4.1b - US$988m) (Based on the trailing twelve months to June 2024).

0.13 = 3.88亿美元 ÷ (410亿美元 - 9.88亿美元)(基于截至2024年6月的过去十二个月)。

Therefore, Moog has an ROCE of 13%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Aerospace & Defense industry average of 11%.

因此,Moog的ROCE为13%。从绝对值来看,这是一个相当正常的回报,与航天与国防行业的平均水平11%相当接近。

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NYSE:MOG.A Return on Capital Employed September 6th 2024
纽交所:MOG.A资本使用回报率图(2024年9月6日)

Above you can see how the current ROCE for Moog 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 Moog .

上面你可以看到当前Moog的ROCE与之前资本回报率的比较,但过去的数据只能告诉你一部分。如果你想知道分析师对未来的预测,你应该查看我们免费的Moog分析师报告。

So How Is Moog's ROCE Trending?

所以Moog的ROCE趋势如何?

While the returns on capital are good, they haven't moved much. The company has consistently earned 13% for the last five years, and the capital employed within the business has risen 29% in that time. 13% is a pretty standard return, and it provides some comfort knowing that Moog 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.

虽然资本回报率不错,但没有太大变动。在过去的五年中,该公司的回报率始终为13%,而业务中所用的资本在这段时间内增长了29%。13%是一个相当标准的回报率,知道Moog始终能够保持这个水平可以带来一些安慰。这个水平上也许不太令人激动,但如果能够持续经营下去,通常会给股东带来不错的回报。

The Key Takeaway

重要提示

In the end, Moog has proven its ability to adequately reinvest capital at good rates of return. On top of that, the stock has rewarded shareholders with a remarkable 122% return to those who've held over the last five years. So while the positive underlying trends may be accounted for by investors, we still think this stock is worth looking into further.

最终,Moog证明了其能够以良好的回报率充分再投资资本的能力。除此之外,股票还为那些过去五年一直持有的股东带来了惊人的122%回报。所以尽管积极的潜在趋势可能已经被投资者考虑进去了,但我们仍然认为这个股票值得进一步研究。

On a separate note, we've found 1 warning sign for Moog you'll probably want to know about.

另外,我们发现了Moog的一个警示信号,你可能想知道。

For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.

Hao Tian International Construction Investment Group确实存在一些风险,我们已经发现了一条警示标志,你可能会感兴趣。对于那些喜欢投资于实力雄厚的公司的人,可以查看这个由财务状况强大、股本回报率高的公司组成的免费列表。

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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