The Trend Of High Returns At CVR Energy (NYSE:CVI) Has Us Very Interested
The Trend Of High Returns At CVR Energy (NYSE:CVI) Has Us Very Interested
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. 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. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. So when we looked at the ROCE trend of CVR Energy (NYSE:CVI) we really liked what we saw.
如果我們想要找到一個潛在的倍增器,通常會有一些潛在的趨勢可以提供線索。其中,我們希望看到兩件事情;首先,不斷增長的資本使用回報率(ROCE),其次,公司使用的資本量不斷擴大。這表明公司是一個持續複利的機器,能夠持續將其盈利再投資到業務中,產生更高的回報。所以當我們查看CVR能源(紐交所:CVI)的ROCE趨勢時,我們真的很喜歡我們所看到的。
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源現行ROCE與之前資本回報的比較,但過去只能知道這麼多。如果您感興趣,可以查看我們免費的蒙托克可再生能源分析師報告,了解分析師的預測。
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for CVR Energy:
如果您之前沒有使用過ROCE,則它衡量公司從其業務中使用的資本所生成的「回報」(稅前利潤)的能力。分析師使用此公式爲CVR能源進行計算:
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。
0.24 = US$721m ÷ (US$4.0b - US$1.0b) (Based on the trailing twelve months to June 2024).
0.24 = 7.21億美元 ÷ (400億美元 - 10億美元)(基於截至2024年6月的過去十二個月)。
Therefore, CVR Energy has an ROCE of 24%. In absolute terms that's a great return and it's even better than the Oil and Gas industry average of 12%.
因此,CVR能源的ROCE爲24%。就絕對值而言,這是一種很好的回報,甚至比石油和天然氣行業的平均水平還要好12%。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240813/0-1e03e9011e7989d2584866f5eb983010-0-ab7c743f600d63694081d00b86ab4a1f.png/big)
Above you can see how the current ROCE for CVR Energy 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 CVR Energy .
上面您可以看到CVR能源當前的ROCE與其過去的資本回報率相比如何,但從過去的數據中能得到的信息有限。如果您感興趣,您可以在我們的CVR能源免費分析報告中查看分析師的預測。
So How Is CVR Energy's ROCE Trending?
那麼,CVR能源的ROCE走勢如何?
CVR Energy has not disappointed with their ROCE growth. The figures show that over the last five years, ROCE has grown 28% whilst employing roughly the same amount of capital. Basically the business is generating higher returns from the same amount of capital and that is proof that there are improvements in the company's efficiencies. On that front, things are looking good so it's worth exploring what management has said about growth plans going forward.
CVR能源的ROCE增長表現不俗。數據顯示,在過去的五年中,雖然使用的資本大致相同,ROCE增長了28%。基本上,該企業從同樣的資本中產生了更高的回報,這證明公司的效率有所改善。在這方面,事情正在好轉,因此值得探究管理層對未來增長計劃的看法。
For the record though, there was a noticeable increase in the company's current liabilities over the period, so we would attribute some of the ROCE growth to that. Effectively this means that suppliers or short-term creditors are now funding 26% of the business, which is more than it was five years ago. It's worth keeping an eye on this because as the percentage of current liabilities to total assets increases, some aspects of risk also increase.
不過,值得一提的是,公司目前負債有所增加,因此我們應該將ROCE增長的一部分歸因於此。實際上,這意味着供應商或短期債務人正在爲該業務提供資金,這比五年前更多。這值得關注,因爲隨着當期負債佔總資產的比例增加,某些風險因素也會增加。
What We Can Learn From CVR Energy's ROCE
總之,CVR能源從相同的資本中獲得了更高的回報,這非常值得稱讚。考慮到該股票在過去五年中爲股東提供了14%的回報率,可能公衆還沒有充分認識到這些有前途的趨勢。因此,如果估值和其他指標相符,進一步了解這隻股票可能會發現一個好機會。
To sum it up, CVR Energy is collecting higher returns from the same amount of capital, and that's impressive. Considering the stock has delivered 14% to its stockholders over the last five years, it may be fair to think that investors aren't fully aware of the promising trends yet. So exploring more about this stock could uncover a good opportunity, if the valuation and other metrics stack up.
還有一點:我們已經確認CVR能源存在3個警告信號,其中至少有1個不應該被忽略,理解這些信號肯定會很有用。
One more thing: We've identified 3 warning signs with CVR Energy (at least 1 which shouldn't be ignored) , and understanding these would certainly be useful.
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。