Slowing Rates Of Return At Armstrong World Industries (NYSE:AWI) Leave Little Room For Excitement
Slowing Rates Of Return At Armstrong World Industries (NYSE:AWI) Leave Little Room For Excitement
0.17 = US$277m ÷ (US$1.8b - US$218m) If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Having said that, from a first glance at Armstrong World Industries (NYSE:AWI) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
如果你在寻找下一个暴涨股时不确定从哪里开始，有几个关键趋势你应该密切关注。首先，我们想要确定不断增长的资本利用率(ROCE)，然后在此基础上，是不断增加的资本利用基础。简单来说，这类企业是复利机器，意味着它们持续以越来越高的回报率再投资其收益。话虽如此，初次观察阿姆斯特朗工业(纽交所:AWI)，我们并未因回报趋势而眼前一亮，但让我们更深入地了解一下。
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。
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for Armstrong World Industries:
只是为了澄清，如果你不确定，ROCE是一个评估公司在其业务中投入的资本所获得的税前收入(以百分比计算)的指标。分析师使用这个公式为阿姆斯特朗工业计算它：
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）
0.17 = US$277m ÷ (US$1.8b - US$218m) (Based on the trailing twelve months to September 2024).
0.17 = 27700万美元 ÷ (18亿美元 - 2.18亿美元) (基于2024年9月的过去十二个月)。
So, Armstrong World Industries has an ROCE of 17%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Building industry average of 15%.
因此，阿姆斯特朗工业的ROCE为17%。绝对来说，这是一个相当正常的回报，它与建筑行业的平均水平15%相当接近。
Above you can see how the current ROCE for Armstrong World Industries compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for Armstrong World Industries .
以上，您可以看到阿姆斯特朗工业当前的资本回报率与其之前的资本回报率相比，但从过去只能得出有限的结论。如果您感兴趣，您可以查看我们为阿姆斯特朗工业提供的免费分析师报告中的分析师预测。
So How Is Armstrong World Industries' ROCE Trending?
那么阿姆斯特朗工业的资本回报率趋势如何？
There hasn't been much to report for Armstrong World Industries' returns and its level of capital employed because both metrics have been steady for the past five years. Businesses with these traits tend to be mature and steady operations because they're past the growth phase. So don't be surprised if Armstrong World Industries doesn't end up being a multi-bagger in a few years time.
过去五年来，关于阿姆斯特朗工业的回报率和资本运用水平没有太多变化。具有这些特征的企业往往是成熟和稳定的运营，因为它们已经过了增长阶段。所以如果阿姆斯特朗工业最终不成为未来几年的股票多倍赚家，也不必感到惊讶。
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, Armstrong World Industries isn't compounding its earnings but is generating stable returns on the same amount of capital employed. Since the stock has gained an impressive 71% over the last five years, investors must think there's better things to come. Ultimately, if the underlying trends persist, we wouldn't hold our breath on it being a multi-bagger going forward.
总之，阿姆斯特朗工业并未使其收益复利，但在同等资本运用水平上实现了稳定回报。由于过去五年股价上涨了令人印象深刻的71%，投资者必须认为未来会有更好的表现。最终，如果基本趋势持续下去，我们不会对其未来成为股票多倍赚家感到乐观。
One more thing, we've spotted 1 warning sign facing Armstrong World Industries that you might find interesting.
还有一件事，我们发现了一项面临阿姆斯特朗工业的1项警告标志，您可能会感兴趣。
While Armstrong World Industries isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
虽然阿姆斯特朗工业的回报率不是最高的，但请查看这份免费名单上的公司，这些公司在资产负债表上实现了高回报。
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