Returns Are Gaining Momentum At Himax Technologies (NASDAQ:HIMX)
Returns Are Gaining Momentum At Himax Technologies (NASDAQ:HIMX)
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. With that in mind, we've noticed some promising trends at Himax Technologies (NASDAQ:HIMX) so let's look a bit deeper.
我們應該尋找哪些早期趨勢來確定一隻可能長期價值成倍增長的股票?首先,我們想找一個正在成長的 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。基本上,這意味着公司擁有可以繼續進行再投資的盈利計劃,這是複合機器的特徵。考慮到這一點,我們注意到Himax Technologies(納斯達克股票代碼:HIMX)的一些令人鼓舞的趨勢,所以讓我們更深入地了解一下。
What Is Return On Capital Employed (ROCE)?
什麼是資本使用回報率(ROCE)?
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 Himax Technologies:
爲了澄清一下你是否不確定,ROCE是評估公司從投資於其業務的資本中獲得多少稅前收入(按百分比計算)的指標。分析師使用這個公式來計算Himax Technologies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)
0.039 = US$36m ÷ (US$1.6b - US$719m) (Based on the trailing twelve months to March 2024).
0.039 = 3,600萬美元 ÷(16億美元-7.19億美元) (基於截至2024年3月的過去十二個月)。
Thus, Himax Technologies has an ROCE of 3.9%. In absolute terms, that's a low return and it also under-performs the Semiconductor industry average of 9.7%.
因此,Himax Technologies的投資回報率爲3.9%。從絕對值來看,這是一個低迴報,其表現也低於半導體行業9.7%的平均水平。
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240612/0-db3b70c9d98ad64daa1d644eba799c51-0-132a525fb693cabc6f66d37a39eff612.png/big)
Above you can see how the current ROCE for Himax Technologies compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for Himax Technologies .
在上面你可以看到Himax Technologies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。如果你有興趣,可以在我們的免費Himax Technologies分析師報告中查看分析師的預測。
So How Is Himax Technologies' ROCE Trending?
那麼 Himax Technologies 的 ROCE 趨勢如何呢?
Even though ROCE is still low in absolute terms, it's good to see it's heading in the right direction. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 3.9%. Basically the business is earning more per dollar of capital invested and in addition to that, 107% more capital is being employed now too. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers.
儘管投資回報率的絕對值仍然很低,但很高興看到它正朝着正確的方向前進。數字顯示,在過去五年中,所用資本的回報率已大幅增長至3.9%。基本上,企業每投資1美元的資本就能獲得更多的收入,除此之外,現在使用的資本也增加了107%。這可能表明,內部有很多機會以更高的利率進行資本投資,這種組合在多袋公司中很常見。
On a side note, Himax Technologies' current liabilities are still rather high at 44% of total assets. This effectively means that suppliers (or short-term creditors) are funding a large portion of the business, so just be aware that this can introduce some elements of risk. Ideally we'd like to see this reduce as that would mean fewer obligations bearing risks.
順便說一句,Himax Technologies的流動負債仍然相當高,佔總資產的44%。這實際上意味着供應商(或短期債權人)正在爲業務的很大一部分提供資金,因此請注意,這可能會帶來一些風險因素。理想情況下,我們希望看到這種情況減少,因爲這將意味着減少承擔風險的債務。
In Conclusion...
總之...
To sum it up, Himax Technologies has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. In light of that, we think it's worth looking further into this stock because if Himax Technologies can keep these trends up, it could have a bright future ahead.
總而言之,Himax Technologies已經證明它可以對業務進行再投資,並從所使用的資本中獲得更高的回報,這太棒了。而且,由於該股在過去五年中表現異常出色,投資者正在考慮這些模式。有鑑於此,我們認爲值得進一步研究這隻股票,因爲如果Himax Technologies能夠保持這些趨勢,它可能會有一個光明的未來。
Like most companies, Himax Technologies does come with some risks, and we've found 2 warning signs that you should be aware of.
像大多數公司一樣,Himax Technologies確實存在一些風險,我們發現了兩個你應該注意的警告信號。
While Himax Technologies 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Himax Technologies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%的公司名單。在這裏查看這個免費清單。
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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。