Some Investors May Be Worried About Arm Holdings' (NASDAQ:ARM) Returns On Capital
Some Investors May Be Worried About Arm Holdings' (NASDAQ:ARM) Returns On Capital
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. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Although, when we looked at Arm Holdings (NASDAQ:ARM), it didn't seem to tick all of these boxes.
要找到一只多袋股票,我们应该在企业中寻找哪些潜在趋势?在一个完美的世界中,我们希望看到一家公司向其业务投入更多资本,理想情况下,从这些资本中获得的回报也在增加。归根结底,这表明这是一家以更高的回报率对利润进行再投资的企业。但是,当我们查看Arm Holdings(纳斯达克股票代码:ARM)时,它似乎并没有勾选所有这些方框。
Return On Capital Employed (ROCE): What Is It?
已动用资本回报率(ROCE):这是什么?
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. To calculate this metric for Arm Holdings, this is the formula:
对于那些不知道的人来说,ROCE是衡量公司年度税前利润(其回报率)的指标,相对于该业务使用的资本。要计算 Arm Holdings 的这个指标,公式如下:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已动用资本回报率 = 息税前收益(EBIT)÷(总资产-流动负债)
0.057 = US$408m ÷ (US$8.1b - US$899m) (Based on the trailing twelve months to September 2024).
0.057 = 4.08亿美元 ÷(81亿美元至8.99亿美元)(基于截至2024年9月的过去十二个月)。
Therefore, Arm Holdings has an ROCE of 5.7%. In absolute terms, that's a low return and it also under-performs the Semiconductor industry average of 8.6%.
因此,Arm Holdings的投资回报率为5.7%。从绝对值来看,这是一个低回报,其表现也低于半导体行业8.6%的平均水平。
Above you can see how the current ROCE for Arm Holdings 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 Arm Holdings .
上面你可以看到Arm Holdings当前的投资回报率与其先前的资本回报率相比如何,但从过去可以看出来的只有那么多。如果您有兴趣,可以在我们的免费Arm Holdings分析师报告中查看分析师的预测。
How Are Returns Trending?
退货趋势如何?
On the surface, the trend of ROCE at Arm Holdings doesn't inspire confidence. To be more specific, ROCE has fallen from 13% over the last two years. Although, given both revenue and the amount of assets employed in the business have increased, it could suggest the company is investing in growth, and the extra capital has led to a short-term reduction in ROCE. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
从表面上看,Arm Holdings的投资回报率趋势并不能激发信心。更具体地说,投资回报率已从过去两年的13%下降。尽管考虑到该业务的收入和资产数量都有所增加,但这可能表明该公司正在投资增长,而额外的资本导致了投资回报率的短期下降。而且,如果增加的资本产生额外的回报,那么从长远来看,企业乃至股东都将受益。
Our Take On Arm Holdings' ROCE
我们对 Arm Holdings 的 ROCE 的看法
Even though returns on capital have fallen in the short term, we find it promising that revenue and capital employed have both increased for Arm Holdings. Furthermore the stock has climbed 80% over the last year, it would appear that investors are upbeat about the future. So should these growth trends continue, we'd be optimistic on the stock going forward.
尽管短期内资本回报率有所下降,但我们认为Arm Holdings的收入和所用资本均有所增加是有希望的。此外,该股去年上涨了80%,看来投资者对未来持乐观态度。因此,如果这些增长趋势继续下去,我们将对该股的未来持乐观态度。
If you'd like to know about the risks facing Arm Holdings, we've discovered 1 warning sign that you should be aware of.
如果你想了解Arm Holdings面临的风险,我们发现了一个你应该注意的警告信号。
While Arm Holdings isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
尽管Arm Holdings的回报率并不高,但请查看这份免费的股票回报率高、资产负债表稳健的公司名单。
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Simply Wall St 的这篇文章本质上是笼统的。我们仅使用公正的方法提供基于历史数据和分析师预测的评论,我们的文章并非旨在提供财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不会考虑最新的价格敏感型公司公告或定性材料。华尔街只是没有持有上述任何股票的头寸。