Nova (NASDAQ:NVMI) Has More To Do To Multiply In Value Going Forward
Nova (NASDAQ:NVMI) Has More To Do To Multiply In Value Going Forward
There are a few key trends to look for if we want to identify the next multi-bagger. 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. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. That's why when we briefly looked at Nova's (NASDAQ:NVMI) ROCE trend, we were pretty happy with what we saw.
想找到下一個多倍榜樣,需要注意以下關鍵趨勢。一種常見的方法是嘗試找到一個開多的公司。看到這種情況,通常意味着這是一家擁有出色的業務模式和大量盈利再投資機會的公司。因此,當我們簡要查看納斯達克nova(NASDAQ:NVMI)的資本回報率趨勢時,我們對我們看到的感到非常高興。返回以上你可以看到,Enphase Energy 的當前資本僱用回報率與之前的回報率相比如何,但從過去只能知道這麼多。如果你想看看分析師對未來的預測,你應該查看我們免費提供的 Enphase Energy 分析師報告。ROCE 趨勢可以告訴我們什麼?比起 Enphase Energy,有更好的資本回報率選擇。在過去的五年中,該公司增加了 1,306% 的資本,而該資本的回報率保持穩定在 9.9%。這樣差的回報率現在並不令人信服,而且隨着資本的增加,很明顯企業並沒有將資金投入到高回報的投資中。要明確一點,資本回報率是一個評估公司在其業務中投資的資本上賺取多少稅前收入(以百分比計算)的指標。分析師通過以下公式來計算納斯達克nova的資本回報率:
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。
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for Nova:
0.16 = $1.34億美元 ÷ ($12億美元 - $3.38億美元) 因此,Nova的資本回報率爲16%。僅就其本身來說,這是一個標準的回報率,但它比半導體行業的9.7%好得多。
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。
0.16 = US$134m ÷ (US$1.2b - US$338m) (Based on the trailing twelve months to March 2024).
NasdaqGS:NVMI Return on Capital Employed June 5th 2024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, Nova has an ROCE of 16%. On its own, that's a standard return, however it's much better than the 9.7% generated by the Semiconductor industry.
如上所述,您可以看到納斯達克nova當前的資本回報率與其以前的資本回報率相比如何,但是過去只能了解這麼多。如果您願意,您可以免費查看覆蓋納斯達克nova的分析師的預測。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240605/0-078289861c222cac69a7ac6b1805a95b-0-74aa301281f16b63feef3c9f073a4283.png/big)
Above you can see how the current ROCE for Nova 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 Nova for free.
從資本回報率趨勢中,我們能了解什麼?
What Can We Tell From Nova's ROCE Trend?
儘管資本回報率很高,但它們並沒有變化太多。在過去的五年中,該公司一直保持16%的水平,業務使用的資本增長了166%。因此,儘管16%的資本回報率是一箇中等回報率,但很高興看到企業可以繼續以這樣的合理回報率進行再投資。在這個範圍內的穩定回報率可能不太令人興奮,但是如果它們能夠長期保持,它們通常會爲股東帶來不錯的回報。
While the returns on capital are good, they haven't moved much. The company has consistently earned 16% for the last five years, and the capital employed within the business has risen 166% in that time. Since 16% is a moderate ROCE though, it's good to see a business can continue to reinvest at these decent rates of return. Stable returns in this ballpark can be unexciting, but if they can be maintained over the long run, they often provide nice rewards to shareholders.
另一方面,雖然資本回報率趨勢的變化可能並不引起關注,但有趣的是,當前負債在過去五年中實際上已經增加。這很有趣,因爲如果當前負債沒有佔總資產的28%,那麼所報告的資本回報率可能小於16%,因爲總資本僱用將更高。如果當前負債不是總資產的28%,那麼16%的資本回報率甚至可能更低,因爲公式將顯示更大的總資本僱用基數。因此,儘管當前負債並不高,但如果它進一步增加,這可能會引入一些風險因素。
On another note, while the change in ROCE trend might not scream for attention, it's interesting that the current liabilities have actually gone up over the last five years. This is intriguing because if current liabilities hadn't increased to 28% of total assets, this reported ROCE would probably be less than16% because total capital employed would be higher.The 16% ROCE could be even lower if current liabilities weren't 28% of total assets, because the the formula would show a larger base of total capital employed. So while current liabilities isn't high right now, keep an eye out in case it increases further, because this can introduce some elements of risk.
最重要的一點是,納斯達克nova已經證明了自己能夠不斷再投資並以可觀的回報率獲得回報。此外,對於那些持有五年以上的股東,該股票已經爲他們提供了驚人的677%回報。因此,儘管企業正面的基本趨勢可能已被投資者計算在內,我們仍認爲這隻股票值得進一步研究。
The Bottom Line
還有一件事需要注意的是,我們已經確定了上海醫藥的2個警告信號,了解這些信號應該成爲你的投資過程的一部分。
The main thing to remember is that Nova has proven its ability to continually reinvest at respectable rates of return. On top of that, the stock has rewarded shareholders with a remarkable 677% return to those who've held 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.
在其他方面,納斯達克nova可能以有吸引力的價格交易,因此您可能會發現我們免費的NVMI內在價值估計在我們的平台上非常有價值。
Nova could be trading at an attractive price in other respects, so you might find our free intrinsic value estimation for NVMI on our platform quite valuable.
儘管nova的回報不是最高的,但是請查看這個免費的固收率公司列表,這些公司在股東權益和堅實的資產負債表上獲得了高回報。
While Nova isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
如果您想識別下一個多倍者,需要關注以下幾個重要趨勢:尋找一個業務開多的公司。如果您看到這種情況,通常意味着這是一家擁有出色的業務模式和大量盈利再投資機會的公司。
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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.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或電郵 editorial-team (at) simplywallst.com。
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。