Slowing Rates Of Return At Stryker (NYSE:SYK) Leave Little Room For Excitement
Slowing Rates Of Return At Stryker (NYSE:SYK) Leave Little Room For Excitement
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. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. That's why when we briefly looked at Stryker's (NYSE:SYK) ROCE trend, we were pretty happy with what we saw.
如果你在尋找下一款多功能裝袋機時不確定從哪裏開始,那麼你應該留意一些關鍵趨勢。一種常見的方法是嘗試找到一家擁有以下條件的公司 回報 論資本使用率(ROCE)在增加的同時增長 金額 已動用資本的百分比。這向我們表明,它是一臺複合機器,能夠持續將其收益再投資於業務併產生更高的回報。這就是爲什麼當我們簡要地看一下Stryker(紐約證券交易所代碼:SYK)的ROCE趨勢時,我們對所看到的情況感到非常滿意。
What Is Return On Capital Employed (ROCE)?
什麼是資本使用回報率(ROCE)?
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. The formula for this calculation on Stryker is:
對於那些不確定ROCE是什麼的人來說,它衡量的是公司從業務中使用的資本中可以產生的稅前利潤。在 Stryker 上進行此計算的公式爲:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已動用資本回報率 = 息稅前收益 (EBIT) ¥(總資產-流動負債)
0.13 = US$4.0b ÷ (US$38b - US$7.5b) (Based on the trailing twelve months to September 2023).
0.13 = 40億美元 ¥(380億美元至75億美元) (基於截至2023年9月的過去十二個月)。
So, Stryker has an ROCE of 13%. In absolute terms, that's a satisfactory return, but compared to the Medical Equipment industry average of 9.3% it's much better.
因此,Stryker的投資回報率爲13%。從絕對值來看,這是一個令人滿意的回報,但與醫療設備行業9.3%的平均水平相比,要好得多。
View our latest analysis for Stryker
查看我們對 Stryker 的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231220/0-b4ac177165442e52b0f43781eed10241-0-42af4fa0a79254af5d5a02013ae498c2.png/big)
Above you can see how the current ROCE for Stryker 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 report on analyst forecasts for the company.
在上方你可以看到Stryker當前的投資回報率與之前的資本回報率相比如何,但從過去可以看出來只有這麼多。如果你有興趣,可以在我們關於公司分析師預測的免費報告中查看分析師的預測。
What Can We Tell From Stryker's ROCE Trend?
我們可以從 Stryker 的 ROCE 趨勢中看出什麼?
While the returns on capital are good, they haven't moved much. The company has employed 71% more capital in the last five years, and the returns on that capital have remained stable at 13%. 13% is a pretty standard return, and it provides some comfort knowing that Stryker has consistently earned this amount. Over long periods of time, returns like these might not be too exciting, but with consistency they can pay off in terms of share price returns.
儘管資本回報率不錯,但變化不大。在過去五年中,該公司使用的資本增加了71%,該資本的回報率一直穩定在13%。13%是一個相當標準的回報率,知道Stryker一直賺到這筆錢,這讓人感到欣慰。在很長一段時間內,這樣的回報可能不太令人興奮,但如果保持一致,它們可以在股價回報方面獲得回報。
Our Take On Stryker's ROCE
我們對 Stryker 投資回報率的看法
In the end, Stryker has proven its ability to adequately reinvest capital at good rates of return. And long term investors would be thrilled with the 105% return they've received over the last five years. So while the positive underlying trends may be accounted for by investors, we still think this stock is worth looking into further.
最後,Stryker已經證明了它有能力以良好的回報率對資本進行充分的再投資。長期投資者會對他們在過去五年中獲得的105%的回報感到興奮。因此,儘管投資者可能解釋了積極的基本趨勢,但我們仍然認爲這隻股票值得進一步研究。
Like most companies, Stryker does come with some risks, and we've found 1 warning sign that you should be aware of.
像大多數公司一樣,Stryker確實存在一些風險,我們發現了一個警告信號,你應該注意。
While Stryker isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
儘管Stryker的回報率不是最高的,但請查看這份免費清單,列出了資產負債表穩健且股本回報率很高的公司。
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.
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。