First Solar's (NASDAQ:FSLR) Returns On Capital Are Heading Higher
First Solar's (NASDAQ:FSLR) Returns On Capital Are Heading Higher
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. 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 First Solar's (NASDAQ:FSLR) returns on capital, so let's have a look.
尋找一個具有潛力大幅增長的企業並不容易,但如果我們看幾個關鍵的財務指標是可能的。其中,我們希望看到兩個方面;首先,資本使用回報率(ROCE)增長;其次,企業使用的資本數量擴大。這表明它是一個複合增長的機器,能夠不斷地將盈利再投資到業務中,併產生更高的回報。說到這個,我們注意到第一太陽能(納斯達克股票代碼:FSLR)的資本回報率有很大的變化,所以讓我們來看一下。
Return On Capital Employed (ROCE): What Is It?
資本僱用回報率(ROCE)是什麼?
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 First Solar, this is the formula:
只是爲了澄清,如果您不確定,資本使用回報率是評估企業在其業務中投資的資本上賺取的(以百分比形式表示的)稅前收入的指標。要計算第一太陽能的這個指標,可以使用以下公式:
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$1.3b ÷ (US$11b - US$1.8b) (Based on the trailing twelve months to June 2024).
0.14 = 13億美元 ÷ (110億美元 - 18億美元)(基於截至2024年6月的過去十二個月).
Therefore, First Solar has an ROCE of 14%. In absolute terms, that's a satisfactory return, but compared to the Semiconductor industry average of 9.0% it's much better.
因此,第一太陽能的ROCE爲14%。就絕對值而言,這是一個令人滿意的回報,但與半導體行業的平均9.0%相比,它要好得多.
![1724779030360](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240828/42959381-0-bf204a1a2658c5403d946d5b977359de.webp/bigjpg)
Above you can see how the current ROCE for First Solar compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering First Solar for free.
以上是第一太陽能當前資本回報率與過去回報率的對比,但過去能告訴我們的有限。如果你願意,你可以免費查看分析師對第一太陽能的預測。
What Can We Tell From First Solar's ROCE Trend?
第一太陽能的資本回報率趨勢能告訴我們什麼?
First Solar has recently broken into profitability so their prior investments seem to be paying off. The company was generating losses five years ago, but now it's earning 14% which is a sight for sore eyes. Not only that, but the company is utilizing 47% more capital than before, but that's to be expected from a company trying to break into profitability. We like this trend, because it tells us the company has profitable reinvestment opportunities available to it, and if it continues going forward that can lead to a multi-bagger performance.
第一太陽能最近實現盈利,因此他們之前的投資似乎正在取得回報。五年前公司還在虧損,但現在盈利率達到14%,這是令人欣慰的。不僅如此,公司利用的資本比以前增加了47%,但這是可以預期的,因爲一家試圖實現盈利的公司會這樣做。我們喜歡這種趨勢,因爲它告訴我們公司有盈利的再投資機會,並且如果繼續向前發展,這可能會帶來超額績效。
The Bottom Line
還有一件事需要注意的是,我們已經確定了上海醫藥的2個警告信號,了解這些信號應該成爲你的投資過程的一部分。
To the delight of most shareholders, First Solar has now broken into profitability. Since the stock has returned a staggering 276% to shareholders over the last five years, it looks like investors are recognizing these changes. In light of that, we think it's worth looking further into this stock because if First Solar can keep these trends up, it could have a bright future ahead.
令大多數股東欣喜的是,第一太陽能如今已經實現盈利。由於該股票在過去五年爲股東帶來了驚人的276%回報,看來投資者已經意識到這些變化。鑑於此,我們認爲值得進一步了解這支股票,因爲如果第一太陽能能繼續保持這種趨勢,它可能會有一個輝煌的未來。
Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 2 warning signs for First Solar (of which 1 makes us a bit uncomfortable!) that you should know about.
由於幾乎每家公司都面臨一定的風險,了解這些風險是值得的。我們發現了第一太陽能的2個警示信號(其中1個讓我們有點不安!),你應該知道這一點。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
Hao Tian International Construction Investment Group確實存在一些風險,我們已經發現了一條警示標誌,你可能會感興趣。對於那些喜歡投資於實力雄厚的公司的人,可以查看這個由財務狀況強大、股本回報率高的公司組成的免費列表。
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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。