Slowing Rates Of Return At MGE Energy (NASDAQ:MGEE) Leave Little Room For Excitement
Slowing Rates Of Return At MGE Energy (NASDAQ:MGEE) Leave Little Room For Excitement
If you're looking for a multi-bagger, there's a few things to 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. In light of that, when we looked at MGE Energy (NASDAQ:MGEE) and its ROCE trend, we weren't exactly thrilled.
如果你正在尋找一款多功能裝袋機,有幾件事需要注意。一種常見的方法是嘗試找一家公司 回報 論資本使用率(ROCE)在增加的同時增長 金額 所用資本的比例。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到業務中併產生更高的回報。有鑑於此,當我們研究MGE Energy(納斯達克股票代碼:MGEE)及其投資回報率趨勢時,我們並不十分興奮。
Return On Capital Employed (ROCE): What Is It?
資本使用回報率(ROCE):這是什麼?
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 MGE Energy is:
對於那些不確定ROCE是什麼的人,它衡量的是公司從其業務中使用的資本中可以產生的稅前利潤金額。在 MGE Energy 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)
0.065 = US$159m ÷ (US$2.6b - US$123m) (Based on the trailing twelve months to September 2023).
0.065 = 1.59億美元 ÷(26億美元-1.23億美元) (基於截至2023年9月的過去十二個月)。
So, MGE Energy has an ROCE of 6.5%. On its own that's a low return, but compared to the average of 4.4% generated by the Electric Utilities industry, it's much better.
因此,MGE Energy的投資回報率爲6.5%。就其本身而言,回報率很低,但與電力公用事業行業4.4%的平均回報率相比,要好得多。
Check out our latest analysis for MGE Energy
查看我們對MGE Energy的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240117/0-3e5d5f54e389fea1ace9fced2b24c3ef-0-d04bea88da519875072c96ca216e07f5.png/big)
Above you can see how the current ROCE for MGE Energy 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 MGE Energy here for free.
在上面你可以看到MGE Energy當前的投資回報率與其先前的資本回報率相比如何,但從過去可以看出來的只有那麼多。如果你願意,可以在這裏免費查看報道MGE Energy的分析師的預測。
The Trend Of ROCE
ROCE 的趨勢
In terms of MGE Energy's historical ROCE trend, it doesn't exactly demand attention. Over the past five years, ROCE has remained relatively flat at around 6.5% and the business has deployed 32% more capital into its operations. 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.
就MGE Energy的歷史投資回報率趨勢而言,這並不完全值得關注。在過去的五年中,投資回報率一直相對持平,約爲6.5%,該業務在運營中投入的資金增加了32%。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 Key Takeaway
關鍵要點
As we've seen above, MGE Energy's returns on capital haven't increased but it is reinvesting in the business. And investors may be recognizing these trends since the stock has only returned a total of 26% to shareholders over the last five years. So if you're looking for a multi-bagger, the underlying trends indicate you may have better chances elsewhere.
正如我們在上面看到的,MGE Energy的資本回報率沒有增加,但它正在對該業務進行再投資。投資者可能會意識到這些趨勢,因爲在過去五年中,該股總共只給股東帶來了26%的回報。因此,如果你正在尋找一款多袋裝車,潛在的趨勢表明你在其他地方的機會可能更大。
On a final note, we've found 2 warning signs for MGE Energy that we think you should be aware of.
最後,我們發現了MGE Energy的兩個警告信號,我們認爲您應該注意這些信號。
While MGE Energy 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MGE Energy的回報率並不高,但請查看這份免費的股票回報率高、資產負債表穩健的公司名單。
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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。