We Like These Underlying Return On Capital Trends At Covenant Logistics Group (NYSE:CVLG)
We Like These Underlying Return On Capital Trends At Covenant Logistics Group (NYSE:CVLG)
0.076 = US$62m ÷ (US$1.0b - US$195m) To find a multi-bagger stock, what are the underlying trends we should look for in a business? 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. With that in mind, we've noticed some promising trends at Covenant Logistics Group (NYSE:CVLG) so let's look a bit deeper.
要找到一支潜力股票，我们应该关注业务中的潜在趋势。在一个完美的世界里，我们希望看到一家公司将更多资本投入到业务中，而且理想情况下，从该资本获得的回报也在增加。如果您看到这一点，通常意味着这是一家拥有出色商业模式和许多有利可图的再投资机会的公司。考虑到这一点，我们注意到covenant logistics集团（纽交所: CVLG）出现了一些有前途的趋势，让我们深入了解一下。
Return On Capital Employed (ROCE): What Is It?
资本利用率（ROCE）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 Covenant Logistics Group is:
对于那些不了解的人，ROCE是一个公司年度税前利润（其回报）相对于业务中使用的资本的衡量标准。 covenant logistics集团的此计算公式为：
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
资本利用率 = 利息和税前利润（EBIT） ÷ （总资产 - 流动负债）
0.076 = US$62m ÷ (US$1.0b - US$195m) (Based on the trailing twelve months to September 2024).
0.076 = 6200万美元 ÷（10亿美元 - 1.95亿美元）（截至2024年9月的过去十二个月）。
Thus, Covenant Logistics Group has an ROCE of 7.6%. In absolute terms, that's a low return but it's around the Transportation industry average of 7.5%.
因此，covenant logistics集团的ROCE为7.6%。从绝对角度来看，这是一个较低的回报，但约等于运输行业平均水平7.5%。
In the above chart we have measured Covenant Logistics Group'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 Covenant Logistics Group .
在上面的图表中，我们已经测量了covenant logistics集团先前的ROCE与其先前的业绩，但未来可以说更重要。如果您感兴趣，您可以在我们的免费covenant logistics集团分析师报告中查看分析师的预测。
What The Trend Of ROCE Can Tell Us
尽管如此，当我们看 enphase energy (纳斯达克股票代码：ENPH) 的时候，它似乎并没有完全符合这些要求。
Covenant Logistics Group's ROCE growth is quite impressive. The figures show that over the last five years, ROCE has grown 100% 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. The company is doing well in that sense, and it's worth investigating what the management team has planned for long term growth prospects.
covenant logistics集团的ROCE增长相当令人印象深刻。数据显示，在过去五年中，尽管资本规模几乎相同，ROCE增长了100%。因此，很可能业务现在正在收获其过去投资的全部好处，因为资本投入的变化并不显著。在这方面，该公司表现不错，值得研究管理团队对长期增长前景的计划。
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。
To bring it all together, Covenant Logistics Group has done well to increase the returns it's generating from its capital employed. Since the stock has returned a staggering 289% to shareholders over the last five years, it looks like investors are recognizing these changes. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
综上所述，covenant logistics集团做得很好，增加了从其资本投入中获得的回报。由于过去五年股票给股东带来了惊人的289%回报，看起来投资者正在意识到这些变化。话虽如此，我们仍认为这些有前景的基本面意味着公司值得进一步的尽职调查。
Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 2 warning signs for Covenant Logistics Group (of which 1 makes us a bit uncomfortable!) that you should know about.
由于几乎每家公司都面临一些风险，了解这些风险是值得的，我们已经发现covenant logistics集团存在 2 个警告信号（其中 1 个让我们有些不安！），您应该了解。
While Covenant Logistics Group 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.
尽管covenant logistics集团目前可能没有赚取最高的回报，但我们已经编制了一份目前赚取超过25%股东权益回报的公司名单。查看这份免费名单。
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