Return Trends At New Jersey Resources (NYSE:NJR) Aren't Appealing
Return Trends At New Jersey Resources (NYSE:NJR) Aren't Appealing
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. However, after briefly looking over the numbers, we don't think New Jersey Resources (NYSE:NJR) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
要找到一隻多袋股票,我們應該在企業中尋找哪些潛在趨勢?首先,我們想確定一個不斷增長的 返回 關於已用資本(ROCE),然後除此之外,還不斷增加 基礎 所用資本的比例。歸根結底,這表明這是一家以不斷提高的回報率對利潤進行再投資的企業。但是,在簡短地查看了這些數字之後,我們認爲新澤西資源公司(紐約證券交易所代碼:NJR)未來不具備多袋裝貨商的實力,但讓我們來看看爲什麼會這樣。
Understanding Return On Capital Employed (ROCE)
了解資本使用回報率 (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. Analysts use this formula to calculate it for New Jersey Resources:
如果你以前沒有與ROCE合作過,它會衡量公司從其業務中使用的資本中產生的 “回報”(稅前利潤)。分析師使用這個公式來計算新澤西資源公司的利潤:
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)
0.071 = US$407m ÷ (US$6.5b - US$807m) (Based on the trailing twelve months to September 2023).
0.071 = 4.07億美元 ÷(65億美元-8.07億美元) (基於截至2023年9月的過去十二個月)。
Therefore, New Jersey Resources has an ROCE of 7.1%. On its own, that's a low figure but it's around the 6.5% average generated by the Gas Utilities industry.
因此,新澤西資源的投資回報率爲7.1%。就其本身而言,這是一個很低的數字,但約爲天然氣公用事業行業的6.5%的平均水平。
See our latest analysis for New Jersey Resources
查看我們對新澤西資源的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240103/0-99bb80b933a60b8ea5fb78645785a43d-0-d9839ae0fb742eaa419135dc3cfd5639.png/big)
In the above chart we have measured New Jersey Resources' prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free report for New Jersey Resources.
在上圖中,我們將新澤西資源公司先前的投資回報率與之前的表現進行了比較,但可以說,未來更爲重要。如果你想了解分析師對未來的預測,你應該查看我們的新澤西資源免費報告。
The Trend Of ROCE
ROCE 的趨勢
The returns on capital haven't changed much for New Jersey Resources in recent years. The company has employed 69% more capital in the last five years, and the returns on that capital have remained stable at 7.1%. This poor ROCE doesn't inspire confidence right now, and with the increase in capital employed, it's evident that the business isn't deploying the funds into high return investments.
近年來,新澤西資源的資本回報率沒有太大變化。在過去五年中,該公司僱用的資本增加了69%,該資本的回報率一直穩定在7.1%。這種糟糕的投資回報率目前並不能激發信心,隨着所用資本的增加,很明顯,該企業沒有將資金部署到高回報的投資中。
The Bottom Line On New Jersey Resources' ROCE
新澤西資源投資回報率的底線
In conclusion, New Jersey Resources has been investing more capital into the business, but returns on that capital haven't increased. Unsurprisingly, the stock has only gained 21% over the last five years, which potentially indicates that investors are accounting for this going forward. Therefore, if you're looking for a multi-bagger, we'd propose looking at other options.
總之,新澤西資源一直在向該業務投資更多資本,但該資本的回報率並未增加。毫不奇怪,該股在過去五年中僅上漲了21%,這可能表明投資者正在考慮未來的情況。因此,如果您正在尋找多袋機,我們建議您考慮其他選項。
If you'd like to know more about New Jersey Resources, we've spotted 2 warning signs, and 1 of them makes us a bit uncomfortable.
如果你想進一步了解新澤西資源,我們發現了2個警告標誌,其中一個讓我們有點不舒服。
While New Jersey Resources may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
儘管新澤西資源目前可能無法獲得最高的回報,但我們編制了一份目前股本回報率超過25%的公司清單。在這裏查看這個免費清單。
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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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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提供基於歷史數據和分析師預測的評論,我們的文章並非旨在提供財務建議。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,我們的分析可能不會考慮最新的價格敏感型公司公告或定性材料。華爾街只是沒有持有上述任何股票的頭寸。