Lennox International (NYSE:LII) Is Aiming To Keep Up Its Impressive Returns
Lennox International (NYSE:LII) Is Aiming To Keep Up Its Impressive Returns
If you're looking for a multi-bagger, there's a few things to keep an eye out for. In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. 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 Lennox International (NYSE:LII), we liked what we saw.
如果你正在尋找一款多功能裝袋機,有幾件事需要注意。在一個完美的世界中,我們希望看到一家公司向其業務投入更多資本,理想情況下,從這些資本中獲得的回報也在增加。如果你看到這一點,這通常意味着它是一家擁有良好商業模式和大量盈利再投資機會的公司。因此,當我們查看倫諾克斯國際(紐約證券交易所代碼:LII)的投資回報率趨勢時,我們喜歡我們所看到的。
Return On Capital Employed (ROCE): What Is It?
資本使用回報率(ROCE):這是什麼?
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Lennox International is:
對於那些不知道的人來說,ROCE是衡量公司年度稅前利潤(其回報率)的指標,相對於該業務使用的資本。倫諾克斯國際的計算公式爲:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已動用資本回報率 = 息稅前收益 (EBIT) ¥(總資產-流動負債)
0.43 = US$904m ÷ (US$3.2b - US$1.1b) (Based on the trailing twelve months to June 2024).
0.43 = 9.04億美元 ÷(32億美元至11億美元)(基於截至2024年6月的過去十二個月)。
So, Lennox International has an ROCE of 43%. In absolute terms that's a great return and it's even better than the Building industry average of 16%.
因此,倫諾克斯國際的投資回報率爲43%。從絕對值來看,這是一個不錯的回報,甚至比建築行業16%的平均水平還要好。
![](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240901/47338591-0-37eb38ace0c722a89f5aa45fac4b5f7e.avif/big)
NYSE:LII Return on Capital Employed September 1st 2024
紐約證券交易所:LII 2024 年 9 月 1 日動用資本回報率
In the above chart we have measured Lennox International'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 Lennox International .
在上圖中,我們將倫諾克斯國際先前的投資回報率與之前的表現進行了比較,但可以說,未來更爲重要。如果您有興趣,可以在我們的倫諾克斯國際免費分析師報告中查看分析師的預測。
The Trend Of ROCE
ROCE 的趨勢
In terms of Lennox International's history of ROCE, it's quite impressive. The company has consistently earned 43% for the last five years, and the capital employed within the business has risen 67% in that time. With returns that high, it's great that the business can continually reinvest its money at such appealing rates of return. If Lennox International can keep this up, we'd be very optimistic about its future.
就倫諾克斯國際的ROCE歷史而言,它給人留下了深刻的印象。在過去五年中,該公司的收入一直保持在43%,在此期間,公司內部使用的資本增長了67%。在回報如此之高的情況下,企業能夠持續以如此誘人的回報率進行資金再投資真是太好了。如果倫諾克斯國際能夠繼續保持這種狀態,我們將對其未來非常樂觀。
One more thing to note, even though ROCE has remained relatively flat over the last five years, the reduction in current liabilities to 34% of total assets, is good to see from a business owner's perspective. Effectively suppliers now fund less of the business, which can lower some elements of risk.
還有一件事需要注意,儘管投資回報率在過去五年中一直保持相對平穩,但從企業主的角度來看,流動負債減少到總資產的34%還是不錯的。實際上,供應商現在減少了對業務的資助,這可以降低某些風險因素。
The Bottom Line On Lennox International's ROCE
倫諾克斯國際投資回報率的底線
Lennox International has demonstrated its proficiency by generating high returns on increasing amounts of capital employed, which we're thrilled about. And the stock has done incredibly well with a 155% return over the last five years, so long term investors are no doubt ecstatic with that result. So even though the stock might be more "expensive" than it was before, we think the strong fundamentals warrant this stock for further research.
Lennox International通過利用不斷增加的資本獲得高回報來證明了自己的能力,我們對此感到非常興奮。在過去五年中,該股表現非常出色,回報率爲155%,因此,長期投資者無疑對這一結果欣喜若狂。因此,儘管該股可能比以前更 「昂貴」,但我們認爲強勁的基本面值得該股進行進一步研究。