Abbott Laboratories (NYSE:ABT) Is Experiencing Growth In Returns On Capital
Abbott Laboratories (NYSE:ABT) Is Experiencing Growth In Returns On Capital
There are a few key trends to look for if we want to identify the next multi-bagger. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding 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. Speaking of which, we noticed some great changes in Abbott Laboratories' (NYSE:ABT) returns on capital, so let's have a look.
如果我们想识别下一个多倍收益股,有几个关键趋势需要关注。通常,我们会希望注意到资本使用回报率(ROCE)逐渐增长的趋势,并且与之相伴的是不断扩大的资本使用基础。简而言之,这些类型的业务是复利机器,这意味着它们不断以越来越高的回报率再投资其收益。谈到这一点,我们注意到雅培(纽交所:ABT)在资本回报率方面的一些重大变化,所以让我们来看看。
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 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. To calculate this metric for Abbott Laboratories, this is the formula:
对于那些不知情的人来说,ROCE是公司年度税前利润(其回报)与业务中使用的资本之间的衡量标准。要计算雅培的这个指标,公式是:
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)
0.13 = US$7.6b ÷ (US$74b - US$15b) (Based on the trailing twelve months to September 2024).
0.13 = 76亿美元 ÷ (740亿美元 - 150亿美元) (基于截至2024年9月的过去十二个月)。
Therefore, Abbott Laboratories has an ROCE of 13%. On its own, that's a standard return, however it's much better than the 9.6% generated by the Medical Equipment industry.
因此,雅培的ROCE为13%。就其本身而言,这是一个标准的回报,但这比医疗设备行业产生的9.6%要好得多。
Above you can see how the current ROCE for Abbott Laboratories compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering Abbott Laboratories for free.
在上面,您可以看到雅培目前的资本回报率(ROCE)与其之前的资本回报率的比较,但从过去的数据中您能了解到的也有限。如果您愿意,可以免费查看分析师对雅培的预测。
What Can We Tell From Abbott Laboratories' ROCE Trend?
我们能从雅培的ROCE趋势中了解到什么?
Abbott Laboratories is showing promise given that its ROCE is trending up and to the right. Looking at the data, we can see that even though capital employed in the business has remained relatively flat, the ROCE generated has risen by 60% over the last five years. 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.
雅培展现出良好的前景,因为其ROCE正在上升并向右移动。从数据中我们可以看到,尽管用于业务的资本保持相对平稳,但过去五年中产生的ROCE已上升了60%。因此,很可能该业务现在正在充分利用其过去投资的收益,因为所投入的资本没有发生显著变化。然而,值得更深入研究这一点,因为虽然业务变得更加高效,但这也可能意味着未来在内部进行有机增长投资的领域不足。
Our Take On Abbott Laboratories' ROCE
我们对雅培的ROCE的看法
In summary, we're delighted to see that Abbott Laboratories has been able to increase efficiencies and earn higher rates of return on the same amount of capital. Since the stock has returned a solid 55% to shareholders over the last five years, it's fair to say investors are beginning to recognize these changes. Therefore, we think it would be worth your time to check if these trends are going to continue.
总的来说,我们很高兴看到雅培能够提高效率,并在相同金额的资本上获得更高的回报率。由于该股票在过去五年中为股东带来了55%的稳健回报,可以公平地说,投资者开始认识到这些变化。因此,我们认为值得您花时间检查这些趋势是否将持续。
On the other side of ROCE, we have to consider valuation. That's why we have a FREE intrinsic value estimation for ABT on our platform that is definitely worth checking out.
在ROCE的另一面,我们必须考虑估值。这就是为什么我们在我们的平台上提供了雅培的免费内在价值估算,绝对值得查看。
While Abbott Laboratories isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
虽然雅培的回报不是最高的,但请查看这个免费名单,其中包括那些在股本回报率上获得高回报且财务状况良好的公司。
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