Capital Investment Trends At Atmus Filtration Technologies (NYSE:ATMU) Look Strong
Capital Investment Trends At Atmus Filtration Technologies (NYSE:ATMU) Look Strong
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. 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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. With that in mind, the ROCE of Atmus Filtration Technologies (NYSE:ATMU) looks attractive right now, so lets see what the trend of returns can tell us.
尋找一個有潛力成長的企業並不容易,但如果我們看幾個關鍵的財務指標是有可能的。一個在其他方面都不錯的企業,我們會想看到兩件事:首先是不斷增長的投入資本回報率(ROCE),其次是公司投入的資本數量的擴張。簡單地說,這些類型的企業是強化複利的機器,意味着他們一直以越來越高的回報率不斷地重新投資收益。有了這個想法,Atmus Filtration Technologies (NYSE:ATMU) 的ROCE 現在看起來很有吸引力,讓我們看看收益趨勢能告訴我們什麼。
Return On Capital Employed (ROCE): What Is It?
資本僱用回報率(ROCE)是什麼?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Atmus Filtration Technologies, this is the formula:
如果您以前沒有使用過ROCE,它衡量的是公司在業務中使用的資本所產生的'回報'(稅前利潤)。爲計算Atmus Filtration Technologies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。
0.32 = US$243m ÷ (US$1.1b - US$349m) (Based on the trailing twelve months to March 2024).
0.32 = US$24300萬÷(US$11億-US$349m)(基於截至2024年3月的過去十二個月)。
So, Atmus Filtration Technologies has an ROCE of 32%. In absolute terms that's a great return and it's even better than the Machinery industry average of 13%.
所以,Atmus Filtration Technologies的ROCE爲32%。絕對意義上,這是一個很好的回報,甚至比機械行業的平均水平13%還要好。
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Above you can see how the current ROCE for Atmus Filtration 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 Atmus Filtration Technologies .
上面您可以看到目前Atmus Filtration Technologies的ROCE如何與以前的資本回報率相比,但從過去看到的信息是有限的。如果您有興趣,可以查看我們爲Atmus Filtration Technologies提供的自由分析師報告中分析師的預測。
What The Trend Of ROCE Can Tell Us
儘管如此,當我們看 enphase energy (納斯達克股票代碼:ENPH) 的時候,它似乎並沒有完全符合這些要求。
In terms of Atmus Filtration Technologies' history of ROCE, it's quite impressive. Over the past three years, ROCE has remained relatively flat at around 32% and the business has deployed 42% more capital into its operations. Returns like this are the envy of most businesses and given it has repeatedly reinvested at these rates, that's even better. If these trends can continue, it wouldn't surprise us if the company became a multi-bagger.
就Atmus Filtration Technologies的 ROCE 歷史而言,它是相當令人印象深刻的。在過去的三年裏,ROCE保持相當平穩,大約在32%左右,該企業增加了42%的資本投入到運營中。這樣的回報對於大多數企業而言是令人嫉妒的,考慮到它多次以這些利潤率重新投資,這是更好的。如果這些趨勢可以繼續下去,我們不會感到驚訝,如果該公司成爲多袋價值的話。
The Key Takeaway
重要提示
In short, we'd argue Atmus Filtration Technologies has the makings of a multi-bagger since its been able to compound its capital at very profitable rates of return. And the stock has followed suit returning a meaningful 27% to shareholders over the last year. So even though the stock might be more "expensive" than it was before, we think the strong fundamentals warrant this stock for further research.
簡而言之,我們認爲Atmus Filtration Technologies有成爲多袋價值的因素,因爲它能夠以非常有利可圖的回報率複利投資其資本。股票回報率也如此,過去一年中爲股東帶來了有意義的27%的回報。因此,即使該股票比之前更加'昂貴',我們認爲其強勁的基本面也值得進一步研究。
On a final note, we've found 1 warning sign for Atmus Filtration Technologies that we think you should be aware of.
最後一點,我們發現Atmus Filtration Technologies有1個警告信號需要您了解。
High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.
高回報率是強勁表現的關鍵因素,因此請查看我們的免費股票列表,其中列出了盈利能力強、資產負債表堅實的股票。
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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。