Under The Bonnet, Lincoln Electric Holdings' (NASDAQ:LECO) Returns Look Impressive
Under The Bonnet, Lincoln Electric Holdings' (NASDAQ:LECO) Returns Look Impressive
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base 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. So when we looked at the ROCE trend of Lincoln Electric Holdings (NASDAQ:LECO) we really liked what we saw.
如果你對找尋下一個翻倍股不確定從何處入手,那麼有一些關鍵趨勢你應該密切關注。 通常情況下,我們需要注意資本投入回報率(ROCE)的增長趨勢,同時還有資本投入的擴大規模。 簡而言之,這類企業是複利機器,意味着它們在以不斷升高的回報率不斷重新投資其收益。 所以當我們看到Lincoln Electric Holdings(納斯達克:LECO)的ROCE趨勢時,我們對它印象深刻。
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. Analysts use this formula to calculate it for Lincoln Electric Holdings:
對於不確定ROCE是什麼的人來說,它衡量的是一家公司在其業務中使用的資本所能產生的稅前利潤額。 分析師們使用這個公式來計算Lincoln Electric Holdings的ROCE:
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。
0.27 = US$717m ÷ (US$3.4b - US$784m) (Based on the trailing twelve months to June 2024).
0.27 = US$71700萬 ÷ (US$34億 - US$784m)(基於截至2024年6月的過去十二個月)。 所以,Lincoln Electric Holdings的ROCE爲27%。 從絕對值來看,這是一個很好的回報,甚至超過了機械行業的平均水平14%。
So, Lincoln Electric Holdings has an ROCE of 27%. In absolute terms that's a great return and it's even better than the Machinery industry average of 14%.
Lincoln Electric Holdings的ROCE爲27%。 從絕對值來看,這是一個很好的回報,甚至超過了機械行業的平均水平14%。
![1724239606465](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240821/42666090-0-9adc91d5a0ddfd5477ccff06f268bd78.webp/bigjpg)
In the above chart we have measured Lincoln Electric Holdings' 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 Lincoln Electric Holdings .
在上面的圖表中,我們對Lincoln Electric Holdings的先前ROCE與其先前表現進行了衡量,但未來可能更重要。如果您感興趣,可以查看我們爲Lincoln Electric Holdings提供的免費分析師報告中的分析師預測。
So How Is Lincoln Electric Holdings' ROCE Trending?
那麼Lincoln Electric Holdings的ROCE趨勢如何?
Investors would be pleased with what's happening at Lincoln Electric Holdings. The data shows that returns on capital have increased substantially over the last five years to 27%. Basically the business is earning more per dollar of capital invested and in addition to that, 44% more capital is being employed now too. So we're very much inspired by what we're seeing at Lincoln Electric Holdings thanks to its ability to profitably reinvest capital.
投資者對Lincoln Electric Holdings正在發生的事情會感到滿意。數據顯示,資本回報率在過去五年內大幅提高至27%。基本上,該企業每投資一美元的資本就能產生更多的利潤,此外,現在還有44%的資本被使用。因此,我們對Lincoln Electric Holdings能夠有利可圖地再投資資本的能力非常感興趣。
The Key Takeaway
重要提示
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what Lincoln Electric Holdings has. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. Therefore, we think it would be worth your time to check if these trends are going to continue.
一個能夠提高資本回報率並能夠持續再投資的公司是一個備受追捧的特徵,而Lincoln Electric Holdings就具備這樣的特徵。隨着過去五年股票表現異常出色,這些趨勢正在被投資者所考慮。因此,我們認爲檢查這些趨勢是否會持續值得您的時間。
Like most companies, Lincoln Electric Holdings does come with some risks, and we've found 1 warning sign that you should be aware of.
像大多數公司一樣,Lincoln Electric Holdings也存在一些風險,我們發現了1個應該注意的警示信號。
If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.
如果您想看到其他公司獲得高回報,請在此查看我們免費的高回報、堅實財務狀況的公司列表。
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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.
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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。