Limbach Holdings (NASDAQ:LMB) Is Achieving High Returns On Its Capital
Limbach Holdings (NASDAQ:LMB) Is Achieving High Returns On Its Capital
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. 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. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. With that in mind, the ROCE of Limbach Holdings (NASDAQ:LMB) looks great, so lets see what the trend can tell us.
如果您不確定該從哪兒開始尋找下一個多倍股，有幾個關鍵趨勢需要密切關注。在一個完美的世界裏，我們希望看到一家公司將更多的資本投資到自己的業務中，理想情況下，從這些資本中賺取的回報也在增加。最終，這表明它是一家正在以逐漸增長的回報率重新投資利潤的業務。因此，考慮到這一點，Limbach Holdings (NASDAQ:LMB)的ROCE看起來很棒，那麼讓我們看看趨勢能告訴我們什麼。
What Is Return On Capital Employed (ROCE)?
我們對 Enphase Energy 的資本僱用回報率的看法：正如我們上面看到的，Enphase Energy 的資本回報率沒有提高，但它正在重新投資於業務。投資者必須認爲未來會有更好的前景，因爲股票表現良好，使持股五年以上的股東獲得了 690% 的收益。最終，如果基本趨勢持續存在，我們不會對它成爲一隻多頭股持有期很久很有信心。
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. To calculate this metric for Limbach Holdings, this is the formula:
對於那些不知道ROCE是什麼的人來說，它是衡量公司年度稅前利潤（即回報）與業務投資的資本之間比率的一種指標。計算Limbach Holdings這一指標的公式如下:
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。
0.21 = US$34m ÷ (US$289m - US$124m) (Based on the trailing twelve months to March 2024).
0.21 = 3400萬美元 ÷ (2.89億美元 - 1.24億美元) （截至2024年3月的過去十二個月）。
So, Limbach Holdings has an ROCE of 21%. That's a fantastic return and not only that, it outpaces the average of 11% earned by companies in a similar industry.
因此，Limbach Holdings的ROCE爲21%。這是一個非常棒的回報，而且不僅如此，它還超過同行業公司的11%的平均回報。
In the above chart we have measured Limbach Holdings' 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 Limbach Holdings for free.
在上面的圖表中，我們已經將Limbach Holdings之前的ROCE與其之前的表現進行了對比，但未來可能更爲重要。如果您想，您可以免費查看覆蓋Limbach Holdings的分析師的預測。
What Does the ROCE Trend For Limbach Holdings Tell Us?
Limbach Holdings的ROCE趨勢意味着什麼？
Limbach Holdings is displaying some positive trends. The data shows that returns on capital have increased substantially over the last five years to 21%. 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 95%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
Limbach Holdings正在展示一些積極的趨勢。數據顯示，過去5年資本回報率已大幅上升至21%。該公司正在有效地讓更多的資本賺更多的錢，值得注意的是，資本的數量也增加了95%。對於成倍增長的股票來說，增加資本回報率是常見的，這也是我們印象深刻的原因。
One more thing to note, Limbach Holdings has decreased current liabilities to 43% of total assets over this period, which effectively reduces the amount of funding from suppliers or short-term creditors. Therefore we can rest assured that the growth in ROCE is a result of the business' fundamental improvements, rather than a cooking class featuring this company's books. Nevertheless, there are some potential risks the company is bearing with current liabilities that high, so just keep that in mind.
還有一個需要注意的問題，Limbach Holdings已將流動負債降至總資產的43%，有效地減少了來自供應商或短期債權人的資金。因此我們可以放心地說，ROCE的增長是構建在業務本質上的改善而非僞造公司賬目的結果。不過，由於當前負債過高，該公司正在承擔一些潛在風險，所以還是要牢記這一點。
What We Can Learn From Limbach Holdings' ROCE
從Limbach Holdings的ROCE上能學到什麼？
In summary, it's great to see that Limbach Holdings can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. And a remarkable 581% total return over the last five years tells us that investors are expecting more good things to come in the future. In light of that, we think it's worth looking further into this stock because if Limbach Holdings can keep these trends up, it could have a bright future ahead.
總之，看到Limbach Holdings能夠通過以逐漸增長的回報率持續重新投資資本來合併回報是很好的，因爲這些是追逐倍增股票的關鍵因素之一。在過去的5年中，581%的總回報告訴我們，投資者預計未來會有更多的好事發生。鑑於此，我們認爲進一步了解這支股票是值得的，因爲如果Limbach Holdings能夠保持這些趨勢，它將能擁有一個輝煌的明天。
If you'd like to know about the risks facing Limbach Holdings, we've discovered 2 warning signs that you should be aware of.
如果您想了解Limbach Holdings面臨的風險，我們已經發現了2個警告信號，您應該注意。
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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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。