Why The 24% Return On Capital At Vipshop Holdings (NYSE:VIPS) Should Have Your Attention
Why The 24% Return On Capital At Vipshop Holdings (NYSE:VIPS) Should Have Your Attention
What trends should we look for it we want to identify stocks that can multiply in value over the long term? 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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. And in light of that, the trends we're seeing at Vipshop Holdings' (NYSE:VIPS) look very promising so lets take a look.
如果我們希望確認股票的長期價值潛力,應該關注哪些趨勢?在理想的情況下,我們希望看到公司投入更多資本到業務中,且從該資本獲得的回報率也在提高。簡單來說,這些類型的企業是複利機器,意味着它們不斷地以越來越高的回報率再投資其收益。鑑於此,我們在唯品會控股(NYSE:VIPS)看到的趨勢看起來非常有前途,因此讓我們來看看。
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源現行ROCE與之前資本回報的比較,但過去只能知道這麼多。如果您感興趣,可以查看我們免費的蒙托克可再生能源分析師報告,了解分析師的預測。
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 Vipshop Holdings:
對於那些不確定ROCE是什麼的人,它衡量公司從資本中使用的收益前利潤的數量。分析師用這個公式計算唯品會控股的ROCE:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
資產僱用回報率(ROCE)是指企業利潤,即企業稅前利潤除以企業投入的總資本(負債加股權)。如果ROCE高於企業財務成本的承受能力,那麼企業就會創造出更多的價值。
0.24 = CN¥9.9b ÷ (CN¥70b - CN¥28b) (Based on the trailing twelve months to March 2024).
0.24=CN¥9.9b÷(CN¥70b-CN¥28b)在Elevance Health上,我們已經注意到的趨勢是相當令人放心的。數據顯示,過去五年資產回報率大幅提高至15%。投資所用資產的規模也增加了30%。這表明有很多機會進行內部資本投資,並以更高的速度不斷增長,這種組合在多倍增長方面很常見。.
So, Vipshop Holdings has an ROCE of 24%. That's a fantastic return and not only that, it outpaces the average of 11% earned by companies in a similar industry.
因此,唯品會控股的ROCE爲24%。這是一個很棒的回報率,而且不僅如此,它還超過了類似行業公司所獲得的11%的平均值。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240526/0-fa7170d340a3a0b7c3cc3ce620e2486d-0-3c0e47aa204d94f4e39a8028c0fb6d16.png/big)
Above you can see how the current ROCE for Vipshop Holdings compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Vipshop Holdings .
從上面的數據中,你可以看到唯品會控股目前的ROCE與其之前的資本回報率相比如何,但是從過去我們只能得到有限的信息。如果你想看看分析師對未來的預測,你應該查看我們免費的唯品會控股分析師報告。
What Can We Tell From Vipshop Holdings' ROCE Trend?
從唯品會控股的ROCE趨勢中,我們能看到什麼?
We like the trends that we're seeing from Vipshop Holdings. The data shows that returns on capital have increased substantially over the last five years to 24%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 120%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
我們喜歡唯品會控股的趨勢。數據顯示,資本回報率在過去的五年中大幅增加至24%。公司有效地讓每美元使用的資本賺取更多的錢,值得注意的是,使用的資本量也增加了120%。在使用增加的資本獲得日益增長的回報是多倍增長股的常見現象,這就是爲什麼我們印象深刻的原因。
Another thing to note, Vipshop Holdings has a high ratio of current liabilities to total assets of 40%. This can bring about some risks because the company is basically operating with a rather large reliance on its suppliers or other sorts of short-term creditors. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
另一件值得注意的事情是,唯品會控股的流動負債佔總資產的比率爲40%。這可能帶來一些風險,因爲公司基本上在供應商或其他短期債權人方面有很大的依賴。理想情況下,我們希望看到這種情況得到改善,因爲這意味着承擔的風險更少。
In Conclusion...
最後,同等資本下回報率較低的趨勢通常不是我們關注創業板股票的最佳信號。由於這些發展進行良好,因此投資者不太可能表現友好。自五年前以來,該股下跌了32%。除非這些指標朝着更積極的軌跡轉變,否則我們將繼續尋找其他股票。
All in all, it's terrific to see that Vipshop Holdings is reaping the rewards from prior investments and is growing its capital base. And a remarkable 116% total return over the last five years tells us that investors are expecting more good things to come in the future. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.
總的來說,看到唯品會控股在以前的投資中獲得回報並且在擴大其資本基礎,這是很好的事情。在過去的五年中取得了驚人的116%總回報,這告訴我們,投資者希望未來有更多的好事情。因此,考慮到該股票已經證明了其具有有前途的趨勢,有必要進一步研究這家公司,以查看這些趨勢是否會持續。
Vipshop Holdings does have some risks though, and we've spotted 1 warning sign for Vipshop Holdings that you might be interested in.
唯品會控股確實存在一些風險,我們已經發現了1個警告信號,您可能會感興趣。
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,請查看這個免費股票列表,這些股票不僅有紮實的資產負債表,而且還有高回報率。
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。