AppLovin (NASDAQ:APP) Is Reinvesting To Multiply In Value
AppLovin (NASDAQ:APP) Is Reinvesting To Multiply In Value
To find a multi-bagger stock, what are the underlying trends we should look for in a business? 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. Ergo, when we looked at the ROCE trends at AppLovin (NASDAQ:APP), we liked what we saw.
要尋找一隻倍增的股票,我們應該在業務中尋找哪些基本趨勢?首先,我們希望看到顯著增加的資本僱用回報率(ROCE),其次是資本僱用基礎的擴大。如果您看到了這一點,通常意味着這是一傢俱有出色業務模式和大量有利可圖的再投資機會的公司。因此,當我們查看AppLovin(NASDAQ:APP)的ROCE趨勢時,我們喜歡所看到的。
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 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. The formula for this calculation on AppLovin is:
對於那些不清楚ROCE是什麼的人,它衡量公司可以從其業務中使用的資本產生的稅前利潤的數量。在AppLovin的這個計算公式的基礎上:
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。
0.26 = US$1.2b ÷ (US$5.3b - US$730m) (Based on the trailing twelve months to June 2024).
0.26 = US$12億 ÷ (US$53億 - US$730m) (基於截至2024年6月的過去十二個月)。
Therefore, AppLovin has an ROCE of 26%. That's a fantastic return and not only that, it outpaces the average of 7.9% earned by companies in a similar industry.
因此,AppLovin的ROCE爲26%。這是一個極好的回報,不僅如此,它還超過了同行業公司7.9%的平均水平。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240810/0-cf8c4e66a01c6a8cbb3fca0148f37661-0-aa7bade5694442e97d41a40f834025c3.png/big)
In the above chart we have measured AppLovin's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for AppLovin .
在上面的圖表中,我們測量了AppLovin的過去ROCE與其過去表現相比,但未來可能更重要。如果您想查看分析師對前景的預測,您應該查看我們的免費AppLovin分析師報告。
So How Is AppLovin's ROCE Trending?
那麼,AppLovin的ROCE趨勢如何?
In terms of AppLovin's history of ROCE, it's quite impressive. The company has consistently earned 26% for the last five years, and the capital employed within the business has risen 557% in that time. Now considering ROCE is an attractive 26%, this combination is actually pretty appealing because it means the business can consistently put money to work and generate these high returns. You'll see this when looking at well operated businesses or favorable business models.
在AppLovin的ROCE歷史方面,它非常令人印象深刻。該公司在過去的五年中一直賺取26%的利潤,並且業務中使用的資本增長了557%。現在考慮到ROCE是26%,這種組合實際上非常吸引人,因爲它意味着該業務可以持續投入資金併產生高回報。在經營良好的企業或有利可圖的業務模式中,您會看到這一點。
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。
AppLovin has demonstrated its proficiency by generating high returns on increasing amounts of capital employed, which we're thrilled about. And since the stock has risen strongly over the last three years, it appears the market might expect this trend to continue. So even though the stock might be more "expensive" than it was before, we think the strong fundamentals warrant this stock for further research.
AppLovin已通過增加僱用的資本產生高回報來展示其專業能力,這讓我們非常高興。由於股票在過去三年中大幅上漲,市場似乎預計這種趨勢將繼續下去。因此,即使股票比以前更「昂貴」,我們認爲強大的基本面使這支股票值得進一步研究。
One more thing, we've spotted 2 warning signs facing AppLovin that you might find interesting.
還有一件事,我們發現AppLovin面臨兩個警告信號可能會讓您感到有趣。
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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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。