Investors Met With Slowing Returns on Capital At American Eagle Outfitters (NYSE:AEO)
Investors Met With Slowing Returns on Capital At American Eagle Outfitters (NYSE:AEO)
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's 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. Although, when we looked at American Eagle Outfitters (NYSE:AEO), it didn't seem to tick all of these boxes.
如果我們想發現那些能夠在長期內成倍增值的股票,我們應該尋找什麼趨勢? 我們需要看到兩件事:首先是資本運作的增長。如果你看到這一點,通常意味着這是一家擁有出色業務模式和大量有利可圖的再投資機會的公司。所以在這方面,專業零售商Academy Sports and Outdoors(納斯達克股票代碼ASO)在其資本回報趨勢方面看起來相當有前途。資產回報率:它是什麼?如果您不確定ROCE是什麼,它可以衡量公司能夠從其業務所僱用的資本產生多少稅前利潤。爲了計算V2X的這個指數,使用以下公式:0.054 = 1.24億美元÷(31億美元 - 8.53億美元)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。這表明它是一個複合機器,能夠將其收益不斷地重新投資於業務中併產生更高的回報。儘管,當我們看American Eagle Outfitters (NYSE:AEO)時,它似乎沒有滿足所有這些條件。
Return On Capital Employed (ROCE): What Is It?
資本僱用回報率(ROCE)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 American Eagle Outfitters is:
對於那些不確定ROCE是什麼的人來說,它是衡量一個公司可以從其業務中使用的資本產生多少稅前利潤的指標。 American Eagle Outfitters的這個計算公式是:
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。
0.15 = US$413m ÷ (US$3.6b - US$773m) (Based on the trailing twelve months to May 2024).
因此,American Eagle Outfitters的ROCE爲15%。就絕對值而言,這是一個相當正常的回報,它與專業零售行業平均水平13%相當接近。(截至2024年5月的過去十二個月).
Thus, American Eagle Outfitters has an ROCE of 15%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Specialty Retail industry average of 13%.
NYSE:AEO Return on Capital Employed June 21, 2024
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240621/0-a7290fb4f71f6b20d67973d878d9cbef-0-a8b847da49f28e4ca03879ec1c6da738.png/big)
In the above chart we have measured American Eagle Outfitters' prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering American Eagle Outfitters for free.
在過去的五年中,American Eagle Outfitters的回報率和資本使用水平都保持穩定,因此沒有什麼可報告的。具有這些特點的企業往往是成熟和穩定的運營,因爲它們已經過了增長階段。因此,如果American Eagle Outfitters在幾年後不成爲多股牌,不要感到驚訝。
How Are Returns Trending?
綜合上述,Cimpress非常有效地提高了其資本利用率所產生的回報。考慮到股票過去五年保持穩定,如果其他指標也不錯,則可能存在機會。因此,進一步研究這家公司並確定這些趨勢是否會持續是合理的。
There hasn't been much to report for American Eagle Outfitters' returns and its level of capital employed because both metrics have been steady for the past five years. Businesses with these traits tend to be mature and steady operations because they're past the growth phase. So don't be surprised if American Eagle Outfitters doesn't end up being a multi-bagger in a few years time.
關於American Eagle Outfitters的ROCE,我們可以得出結論,在資本使用和趨勢上,沒有太多變化可報告。而且,由於股票在過去的五年中僅爲股東帶來了31%的回報,因此你可以說他們意識到了這些平庸的趨勢。因此,如果您正在尋找多股牌,我們認爲您在其他地方會更有運氣。
Our Take On American Eagle Outfitters' ROCE
如果您想繼續研究American Eagle Outfitters,您可能會對我們的分析發現的3個警告標誌感興趣。
We can conclude that in regards to American Eagle Outfitters' returns on capital employed and the trends, there isn't much change to report on. And with the stock having returned a mere 31% in the last five years to shareholders, you could argue that they're aware of these lackluster trends. As a result, if you're hunting for a multi-bagger, we think you'd have more luck elsewhere.
此處不用翻譯。
If you want to continue researching American Eagle Outfitters, you might be interested to know about the 3 warning signs that our analysis has discovered.
如果您想繼續研究American Eagle Outfitters,您可能會對我們的分析發現的3個警告標誌感興趣。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
Hao Tian International Construction Investment Group確實存在一些風險,我們已經發現了一條警示標誌,你可能會感興趣。對於那些喜歡投資於實力雄厚的公司的人,可以查看這個由財務狀況強大、股本回報率高的公司組成的免費列表。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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。或者,發送電子郵件至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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。