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Returns At Box (NYSE:BOX) Are On The Way Up

Returns At Box (NYSE:BOX) Are On The Way Up

Returns At Box (纽交所:BOX) 正在上升
Simply Wall St ·  2024/12/18 23:39

There are a few key trends to look for if we want to identify the next multi-bagger. Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. With that in mind, we've noticed some promising trends at Box (NYSE:BOX) so let's look a bit deeper.

如果我们想识别下一个多倍回报的股票,有几个关键趋势需要关注。除了其他方面,我们希望看到两件事情;首先是资本盈利回报率(ROCE)的增长,其次是公司使用的资本量的扩大。基本上,这意味着一家公司有盈利的项目可以继续投资,这是一种复利机器的特征。考虑到这一点,我们注意到Box(纽交所:BOX)有一些有前景的趋势,接下来我们再深入看看。

Understanding Return On Capital Employed (ROCE)

理解已投资资本回报率(ROCE)

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 Box, this is the formula:

如果您以前没有使用过ROCE,它衡量的是公司从其业务中使用的资本所产生的“回报”(税前利润)。要为Box计算这个指标,可以使用以下公式:

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)

0.11 = US$83m ÷ (US$1.4b - US$587m) (Based on the trailing twelve months to October 2024).

0.11 = 8300万美元 ÷ (14亿美元 - 5.87亿美元) (基于截至2024年10月的过去十二个月数据)。

So, Box has an ROCE of 11%. On its own, that's a standard return, however it's much better than the 8.8% generated by the Software industry.

因此,Box的ROCE为11%。单独来看,这是一个标准的回报,然而,它比软件行业所产生的8.8%要好得多。

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NYSE:BOX Return on Capital Employed December 18th 2024
纽交所:BOX 资本使用回报率 2024年12月18日

Above you can see how the current ROCE for Box 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 Box for free.

上面你可以看到Box当前的资本回报率与其历史资本回报率的比较,但从过去我们能了解的也有限。如果你愿意,可以免费查看分析师对Box的预测。

What Does the ROCE Trend For Box Tell Us?

Box的ROCE趋势对我们来说意味着什么?

Box has recently broken into profitability so their prior investments seem to be paying off. The company was generating losses five years ago, but now it's earning 11% which is a sight for sore eyes. Not only that, but the company is utilizing 104% more capital than before, but that's to be expected from a company trying to break into profitability. This can tell us that the company has plenty of reinvestment opportunities that are able to generate higher returns.

Box最近实现了盈利,因此他们之前的投资似乎开始见效。五年前公司还在亏损,但现在赚取了11%的回报,这让人眼前一亮。不仅如此,公司现在使用的资本比以前多出104%,但对于一家努力实现盈利的公司来说,这是预期之中的。这告诉我们公司有充足的再投资机会,能够产生更高的回报。

In another part of our analysis, we noticed that the company's ratio of current liabilities to total assets decreased to 43%, which broadly means the business is relying less on its suppliers or short-term creditors to fund its operations. This tells us that Box has grown its returns without a reliance on increasing their current liabilities, which we're very happy with. Nevertheless, there are some potential risks the company is bearing with current liabilities that high, so just keep that in mind.

在我们分析的另一个部分,我们注意到公司的流动负债与总资产的比率下降至43%,这大体上意味着业务在减少依赖供应商或短期债权人来资助其运营。这告诉我们,Box在不依赖增加流动负债的情况下实现了回报的增长,我们对此非常满意。然而,公司当前负债的比例如此之高,也潜在地承受了一些风险,因此请务必记住这一点。

What We Can Learn From Box's ROCE

我们能从Box的ROCE中学到什么

Long story short, we're delighted to see that Box's reinvestment activities have paid off and the company is now profitable. And with a respectable 86% awarded to those who held the stock over the last five years, you could argue that these developments are starting to get the attention they deserve. Therefore, we think it would be worth your time to check if these trends are going to continue.

长话短说,我们非常高兴看到Box的再投资活动取得了成效,公司现在实现了盈利。五年来获得86%的可观回报,您可以认为这些发展开始得到应有的关注。因此,我们认为,检查这些趋势是否会持续下去是值得您花时间的。

On the other side of ROCE, we have to consider valuation. That's why we have a FREE intrinsic value estimation for BOX 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平台上提供BOX的免费内在价值评估,绝对值得一看。

While Box 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Box的回报率不是最高的,但可以查看这份免费的公司列表,这些公司拥有良好的资产负债表和高股本回报率。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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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这篇来自Simply Wall St的文章是一般性的。我们根据历史数据和分析师预测提供评论,采用无偏见的方法,我们的文章并不旨在提供财务建议。它不构成对任何股票的买入或卖出建议,也未考虑到您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意,我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St在提到的任何股票中均没有持仓。

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