The Return Trends At Arrow Electronics (NYSE:ARW) Look Promising
The Return Trends At Arrow Electronics (NYSE:ARW) Look Promising
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base 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. Speaking of which, we noticed some great changes in Arrow Electronics' (NYSE:ARW) returns on capital, so let's have a look.
如果想確認哪些股票在長期內可能會以倍數增值,則需遵循以下規則:首先,我們需要看到被僱用的資本回報率(ROCE)已被證明在增長;其次,被僱用的資本基礎正在擴大。如果您看到這一點,則通常意味着這是一傢俱有出色商業模式和豐富有利可圖的再投資機會的公司。至於 Arrow Electronics 的回報率,則我們可以看到有一些重大的變化,來一探究竟。
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. To calculate this metric for Arrow Electronics, this is the formula:
對於那些不確定 ROCE 是什麼的人來說,它是衡量一家公司能夠從其業務中受僱用的資本產生多少稅前利潤的量度。要爲 Arrow Electronics 計算這一指標,可以使用以下公式:
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$1.4b ÷ (US$20b - US$11b) (Based on the trailing twelve months to March 2024).
0.16 = 14億美元 ÷ (200億美元 - 11億美元) (根據截至 2024 年 3 月的過去十二個月計算)。
Therefore, Arrow Electronics has an ROCE of 16%. On its own, that's a standard return, however it's much better than the 10% generated by the Electronic industry.
因此,Arrow Electronics 的 ROCE 爲 16%。就回報率而言,這是一種標準的回報率,但比電子行業創造的 10% 好多了。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240712/0-167316caf2ce289c4318f9160d51088c-0-a0b2fdd9730ef7dadef12788894b5d7c.png/big)
Above you can see how the current ROCE for Arrow Electronics 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 Arrow Electronics .
您可以看到箭電子目前的 ROCE 如何與其以往回報率相比,但過去所能了解的信息有限。如果您想了解分析師對未來的預測,則應查看 Arrow Electronics 的免費分析師報告。
So How Is Arrow Electronics' ROCE Trending?
那麼,Arrow Electronics 的 ROCE 趨勢如何?
Arrow Electronics has not disappointed with their ROCE growth. The figures show that over the last five years, ROCE has grown 28% whilst employing roughly the same amount of capital. So our take on this is that the business has increased efficiencies to generate these higher returns, all the while not needing to make any additional investments. On that front, things are looking good so it's worth exploring what management has said about growth plans going forward.
Arrow Electronics 的 ROCE 增長一直表現不俗。figures 表明,在過去的五年中,ROCE 增長了 28%,而資本僱用量基本相同。因此,我們認爲企業已提高了效率,從而產生了更高的回報,同時又不需要再進行任何其他投資。在這方面,情況看好,值得探究管理層對未來增長計劃的言論。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. The current liabilities has increased to 56% of total assets, so the business is now more funded by the likes of its suppliers or short-term creditors. And with current liabilities at those levels, that's pretty high.
順便說一下,我們注意到 ROCE 提高好像部分是由應付賬款增加造成的。流動負債已佔總資產的 56%,所以企業現在更多地受到其供應商或短期債權人的資助。然而,這樣高的流動負債水平還是相當高的。
The Bottom Line On Arrow Electronics' ROCE
總的來說,Arrow Electronics 在相同資本數量的情況下獲得了更高的回報率,這令人印象深刻。此外,投資者似乎期望這種趨勢會繼續下去,因爲過去五年裏,該股票爲股東帶來了81%的回報。因此,考慮到該股票已經證明了具有前途的趨勢,研究更多有關該公司的信息,以了解這些趨勢是否會持續下去是值得的。
To sum it up, Arrow Electronics is collecting higher returns from the same amount of capital, and that's impressive. And investors seem to expect more of this going forward, since the stock has rewarded shareholders with a 81% return over the last five years. 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.
如果您想繼續研究 Arrow Electronics,則可能會有興趣了解我們的分析發現的三個警示標誌。雖然 Arrow Electronics 的回報率並不是最高的,但可以查看這份具有堅實資產負債表的公司的高回報率免費清單。
If you want to continue researching Arrow Electronics, you might be interested to know about the 3 warning signs that our analysis has discovered.
如果您想繼續研究Arrow Electronics,可能會對我們分析發現的3個警告標誌感興趣。
While Arrow Electronics isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
雖然 Arrow Electronics 的回報率並不是最高的,但可以查看這份具有堅實資產負債表的公司的高回報率免費清單。
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?對內容感到擔憂?請直接與我們聯繫。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?對內容感到擔憂?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。