Altria Group (NYSE:MO) Is Investing Its Capital With Increasing Efficiency
Altria Group (NYSE:MO) Is Investing Its Capital With Increasing Efficiency
What are the early trends we should look for to identify a stock that could multiply in value over the long term? 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. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. So when we looked at the ROCE trend of Altria Group (NYSE:MO) we really liked what we saw.
我们在寻找能够在长期内价值翻倍的股票时,应该关注哪些早期趋势?在一个完美世界中,我们希望看到公司将更多资本投入到业务中,并且从该资本中获得的回报也在增加。基本上这意味着一个公司有盈利的计划,可以继续进行再投资,这是一台复利机器的特征。因此,当我们查看奥驰亚集团(纽交所: MO)的ROCE趋势时,我们真的很喜欢我们看到的东西。
Return On Capital Employed (ROCE): What Is It?
资本雇用回报率(ROCE)是什么?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Altria Group, this is the formula:
如果您之前没有使用过ROCE,那么它衡量的是公司从业务中使用的资本中生成的'回报'(税前利润)。要为奥驰亚集团计算这一指标,这是公式:
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。
0.45 = US$12b ÷ (US$34b - US$7.8b) (Based on the trailing twelve months to June 2024).
0.45 = 120亿美元 ÷ (340亿美元 - 78亿美元)(基于截至2024年6月的过去十二个月)。
Thus, Altria Group has an ROCE of 45%. In absolute terms that's a great return and it's even better than the Tobacco industry average of 18%.
因此,奥驰亚集团的ROCE为45%。从绝对值来看,这是一个很好的回报,甚至比烟草行业平均水平18%更好。
Above you can see how the current ROCE for Altria Group 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 Altria Group .
在上面,您可以看到奥驰亚集团当前的ROCE与其以前的资本回报率相比如何,但是从过去中能得到的信息有限。如果您想了解分析师们对未来的预测,请查看我们为奥驰亚集团准备的免费分析师报告。
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。
We're pretty happy with how the ROCE has been trending at Altria Group. The figures show that over the last five years, returns on capital have grown by 118%. The company is now earning US$0.4 per dollar of capital employed. In regards to capital employed, Altria Group appears to been achieving more with less, since the business is using 46% less capital to run its operation. Altria Group may be selling some assets so it's worth investigating if the business has plans for future investments to increase returns further still.
我们对奥驰亚集团ROCE的发展趋势感到非常满意。数据显示,在过去的五年中,资本回报率增长了118%。公司现在每投入1美元资本就能赚取0.4美元。就投入的资本而言,奥驰亚集团似乎做到了更少投入取得更多回报,因为该业务使用的资本较少,运行业务的资本减少了46%。奥驰亚集团可能正在出售一些资产,因此值得调查一下企业是否有计划进行未来的投资以进一步增加回报。
The Bottom Line On Altria Group's ROCE
奥驰亚集团ROCE的要点
In a nutshell, we're pleased to see that Altria Group has been able to generate higher returns from less capital. Since the stock has returned a solid 69% to shareholders over the last five years, it's fair to say investors are beginning to recognize these changes. 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.
简而言之,我们很高兴看到奥驰亚集团能够以更少的资本实现更高的回报。由于过去五年股价为股东带来了稳健的69%回报,可以说投资者开始认识到这些变化。因此,鉴于该股票已经证明具有良好的趋势,值得进一步调查公司,以了解这些趋势是否可能持续。
Altria Group does come with some risks though, we found 2 warning signs in our investment analysis, and 1 of those can't be ignored...
然而,奥驰亚集团确实存在一些风险,我们在投资分析中发现了2个警示信号,其中1个必须引起重视...
If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.
如果您想看到其他公司获得高回报,请在此查看我们免费的高回报、坚实财务状况的公司列表。
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