Cracker Barrel Old Country Store (NASDAQ:CBRL) Will Want To Turn Around Its Return Trends
Cracker Barrel Old Country Store (NASDAQ:CBRL) Will Want To Turn Around Its Return Trends
Did you know there are some financial metrics that can provide clues of a potential 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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Although, when we looked at Cracker Barrel Old Country Store (NASDAQ:CBRL), it didn't seem to tick all of these boxes.
你知道有些財務指標能夠提供潛在多倍股的線索嗎？一種常見的方法是嘗試找到ROCE不斷增長，並且使用的資本也在不斷增加的公司。簡單來說，這些類型的企業是複合機器，也就是說，它們不斷地以更高的收益率再投資其收益。但是，當我們看過Cracker Barrel Old Country Store（納斯達克：CBRL）時，它似乎沒有滿足所有要求。
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 Cracker Barrel Old Country Store, this is the formula:
對於不清楚ROCE是什麼的人來說，它衡量企業可以從其業務使用的資本產生多少稅前利潤。爲了計算Cracker Barrel Old Country Store的這個指標，以下是公式：
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。
0.054 = US$92m ÷ (US$2.2b - US$446m) (Based on the trailing twelve months to April 2024).
0.054=9,200萬美元÷（22億美元-4.46億美元）（基於2024年4月的過去12個月）。因此，Cracker Barrel Old Country Store的ROCE爲5.4％。最終，這是一個較低的回報率，低於酒店業平均水平的11％。
Therefore, Cracker Barrel Old Country Store has an ROCE of 5.4%. Ultimately, that's a low return and it under-performs the Hospitality industry average of 11%.
因此，Cracker Barrel Old Country Store的ROCE爲5.4％。最終，這是一個較低的回報率，低於酒店業平均水平的11％。
Above you can see how the current ROCE for Cracker Barrel Old Country Store 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 Cracker Barrel Old Country Store for free.
你可以看到Cracker Barrel Old Country Store目前ROCE與其以前的資本回報率相比如何，但過去只能說明有限的信息。如果你願意，你可以免費查看覆蓋Cracker Barrel Old Country Store的分析師的預測。
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。
In terms of Cracker Barrel Old Country Store's historical ROCE movements, the trend isn't fantastic. Around five years ago the returns on capital were 23%, but since then they've fallen to 5.4%. However it looks like Cracker Barrel Old Country Store might be reinvesting for long term growth because while capital employed has increased, the company's sales haven't changed much in the last 12 months. It may take some time before the company starts to see any change in earnings from these investments.
在Cracker Barrel Old Country Store的歷史ROCE走勢方面，趨勢並不是太好。大約五年前，資本回報率爲23％，但自那時以來，它們下降至5.4％。然而，似乎Cracker Barrel Old Country Store可能在爲長期成長再投資，因爲雖然使用的資本增加了，但公司的銷售額在過去12個月內並沒有太大變化。需要一些時間，才能看到公司從這些投資中獲得任何收益的變化。
In Conclusion...
最後，同等資本下回報率較低的趨勢通常不是我們關注創業板股票的最佳信號。由於這些發展進行良好，因此投資者不太可能表現友好。自五年前以來，該股下跌了32%。除非這些指標朝着更積極的軌跡轉變，否則我們將繼續尋找其他股票。
To conclude, we've found that Cracker Barrel Old Country Store is reinvesting in the business, but returns have been falling. It seems that investors have little hope of these trends getting any better and that may have partly contributed to the stock collapsing 70% in the last five years. In any case, the stock doesn't have these traits of a multi-bagger discussed above, so if that's what you're looking for, we think you'd have more luck elsewhere.
總之，我們發現Cracker Barrel Old Country Store正在對業務進行再投資，但回報率下降。投資者似乎對此沒有太多希望，並且這在一定程度上可能導致該股在過去五年中崩潰了70％。無論如何，該股沒有多倍股的這些特徵，因此，如果這是你想要的，我們認爲你可以在其他地方有更多的運氣。
If you want to continue researching Cracker Barrel Old Country Store, you might be interested to know about the 4 warning signs that our analysis has discovered.
如果您想繼續研究Cracker Barrel Old Country Store，您可能會對我們的分析發現的4個預警信號感興趣。
While Cracker Barrel Old Country Store 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Cracker Barrel Old Country Store當前可能沒有提供最高的回報，但我們已編制了一份目前獲得25％以上股本回報率的公司列表。在此處查看此免費列表。
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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。