Dine Brands Global (NYSE:DIN) Is Doing The Right Things To Multiply Its Share Price
Dine Brands Global (NYSE:DIN) Is Doing The Right Things To Multiply Its Share Price
If you're looking for a multi-bagger, there's a few things to keep an eye out for. 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. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. Speaking of which, we noticed some great changes in Dine Brands Global's (NYSE:DIN) returns on capital, so let's have a look.
如果您正在尋找一個多倍股票，需要關注一些事項。一種常見的方法是嘗試找到一個投資在業務上的資本回報率（ROCE）隨着被投資的資本增加，ROCE也在增長的公司。這表明該公司是一個複合機器，能夠持續將其收益再投資回業務中併產生更高的回報。順便說一下，我們注意到Dine Brands Global（NYSE：DIN）的資本回報率有很大的變化，所以讓我們來看一下。
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。
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. To calculate this metric for Dine Brands Global, this is the formula:
只是爲了澄清，如果您不確定ROCE是什麼，它是一種用於評估公司在其業務中投資的資本上賺取多少稅前收入（以百分比形式）。爲了計算Dine Brands Global的該指標，這是公式：
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。
0.14 = US$181m ÷ (US$1.7b - US$410m) (Based on the trailing twelve months to March 2024).
0.14= US$ 181 million ／（US$ 1.7 billion-US$ 410 million）（基於2024年3月的過去12個月）。
Thus, Dine Brands Global has an ROCE of 14%. In absolute terms, that's a satisfactory return, but compared to the Hospitality industry average of 11% it's much better.
因此，Dine Brands Global的ROCE爲14％。就絕對值而言，這是一個令人滿意的回報，但與酒店業平均值11%相比，表現要好得多。
In the above chart we have measured Dine Brands Global's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free analyst report for Dine Brands Global .
在以上圖表中，我們測量了Dine Brands Global的歷史ROCE與其歷史表現相比，但未來可能更爲重要。如果您感興趣，可以查看我們爲Dine Brands Global提供的免費分析師報告中的分析預測。
The Trend Of ROCE
當尋找下一個倍增器時，如果您不確定從哪裏開始，請關注幾個關鍵趨勢。首先，我們希望看到一個經過驗證的資本使用率。如果您看到這一點，通常意味着這是一家擁有出色業務模式和大量盈利再投資機會的公司。然而，調查蒙托克可再生能源公司（NASDAQ：MNTK）後，我們認爲它的現行趨勢不符合倍增器的模式。
Dine Brands Global has not disappointed in regards to ROCE growth. The figures show that over the last five years, returns on capital have grown by 29%. The company is now earning US$0.1 per dollar of capital employed. In regards to capital employed, Dine Brands Global appears to been achieving more with less, since the business is using 28% less capital to run its operation. A business that's shrinking its asset base like this isn't usually typical of a soon to be multi-bagger company.
Dine Brands Global在ROCE增長方面沒有讓人失望。數據顯示，在過去的五年中，資本回報率增長了29%。公司現在每使用1美元的資本就可以賺取0.1美元。就資本投入而言，Dine Brands Global似乎在運營控件方面發揮了更多的作用，因爲該業務使用的資本比其他企業少28%。這樣縮小資產基礎的業務通常不是即將成爲多重良機的公司的典型特徵。
What We Can Learn From Dine Brands Global's ROCE
從Dine Brands Global的ROCE中我們能學到什麼?
In summary, it's great to see that Dine Brands Global has been able to turn things around and earn higher returns on lower amounts of capital. Astute investors may have an opportunity here because the stock has declined 52% in the last five years. So researching this company further and determining whether or not these trends will continue seems justified.
總體而言，看到Dine Brands Global能夠扭轉局面並以更少的資本獲得更高回報是令人高興的。精明的投資者可能會發現機會，因爲過去五年股票下跌了52％。因此，進一步研究這家公司並確定這些趨勢是否會持續是有道理的。
One final note, you should learn about the 3 warning signs we've spotted with Dine Brands Global (including 2 which don't sit too well with us) .
最後一點，您應該了解我們在Dine Brands Global中發現的三個警告信號（其中兩個對我們來說不太好）
While Dine Brands Global 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.
雖然Dine Brands Global目前可能沒有獲得最高的回報，但我們已編制了一份目前獲得25％以上的股本回報率的公司清單。在此處查看免費清單。
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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.
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@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
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。