Cavco Industries (NASDAQ:CVCO) Is Investing Its Capital With Increasing Efficiency
Cavco Industries (NASDAQ:CVCO) Is Investing Its Capital With Increasing Efficiency
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Speaking of which, we noticed some great changes in Cavco Industries' (NASDAQ:CVCO) returns on capital, so let's have a look.
如果你正在尋找一款多功能裝袋機,有幾件事需要注意。理想情況下,企業將呈現出兩種趨勢;首先是增長 返回 論資本使用率(ROCE),其次是增加 金額 所用資本的比例。歸根結底,這表明這是一家以更高的回報率對利潤進行再投資的企業。說到這裏,我們注意到Cavco Industries(納斯達克股票代碼:CVCO)的資本回報率發生了一些重大變化,所以讓我們來看看吧。
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. Analysts use this formula to calculate it for Cavco Industries:
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。分析師使用以下公式來計算Cavco Industries的計算公式:
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)
0.21 = US$228m ÷ (US$1.4b - US$305m) (Based on the trailing twelve months to September 2023).
0.21 = 2.28億美元 ÷(14億美元-3.05億美元) (基於截至2023年9月的過去十二個月)。
Thus, Cavco Industries has an ROCE of 21%. That's a fantastic return and not only that, it outpaces the average of 14% earned by companies in a similar industry.
因此,Cavco Industries的投資回報率爲21%。這是一個了不起的回報,不僅如此,它還超過了同類行業公司平均收入的14%。
See our latest analysis for Cavco Industries
查看我們對Cavco Industries的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240117/0-794347aed62ab8379cb9faa2d9da1ead-0-700695ff16bbcaf2a3f7fe0f41a4c7c1.png/big)
In the above chart we have measured Cavco Industries' prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.
在上圖中,我們將Cavco Industries先前的投資回報率與之前的表現進行了對比,但可以說,未來更爲重要。如果您有興趣,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。
So How Is Cavco Industries' ROCE Trending?
那麼 Cavco Industries 的 ROCE 趨勢如何呢?
The trends we've noticed at Cavco Industries are quite reassuring. Over the last five years, returns on capital employed have risen substantially to 21%. The amount of capital employed has increased too, by 105%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
我們在Cavco Industries注意到的趨勢非常令人放心。在過去五年中,已動用資本回報率大幅上升至21%。使用的資本金額也增加了105%。越來越多的資本回報率不斷增加是多包商的常見現象,這就是爲什麼我們印象深刻的原因。
What We Can Learn From Cavco Industries' ROCE
我們可以從 Cavco Industries 的 ROCE 中學到什麼
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what Cavco Industries has. Since the stock has returned a staggering 113% to shareholders over the last five years, it looks like investors are recognizing these changes. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
一家資本回報率不斷提高且能夠持續進行自我再投資的公司是一個備受追捧的特徵,而這正是Cavco Industries所擁有的。由於該股在過去五年中向股東回報了驚人的113%,因此投資者似乎已經意識到了這些變化。話雖如此,我們仍然認爲前景良好的基本面意味着公司值得進一步的盡職調查。
Before jumping to any conclusions though, we need to know what value we're getting for the current share price. That's where you can check out our FREE intrinsic value estimation that compares the share price and estimated value.
但是,在得出任何結論之前,我們需要知道當前股價將獲得什麼價值。在這裏,您可以查看我們的免費內在價值估算值,該估算值比較了股價和估計價值。
If you want to search for more stocks that have been earning high returns, check out this free list of stocks with solid balance sheets that are also earning high returns on equity.
如果您想尋找更多獲得高回報的股票,請查看這份資產負債表穩健、股票回報率也很高的股票的免費清單。
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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.
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。