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M/I Homes (NYSE:MHO) Might Have The Makings Of A Multi-Bagger

M/I Homes (NYSE:MHO) Might Have The Makings Of A Multi-Bagger

mi 家居(紐交所:MHO)可能具備成爲多倍投資者的潛質
Simply Wall St ·  11/12 12:24

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. 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. 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 M/I Homes' (NYSE:MHO) returns on capital, so let's have a look.

如果我們想找到一個潛在的多倍股,通常會有一些潛在的趨勢可以提供線索。在完美世界中,我們希望看到一家公司將更多資本投入到其業務中,理想情況下,從該資本獲得的回報也在增加。這向我們表明它是一個複利機器,能夠不斷將其盈利重新投入到業務中併產生更高的回報。說到這一點,我們注意到 mi 家居(紐交所:MHO)的資本回報率出現了一些很大的變化,因此讓我們來看看。

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. To calculate this metric for M/I Homes, this is the formula:

如果您以前沒有接觸過ROCE,它衡量了一家公司從其業務中使用的資本創造的「回報」(稅前利潤)。要爲MI 家居計算這一指標,這是公式:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

資本利用率 = 利息和稅前利潤(EBIT) ÷ (總資產 - 流動負債)

0.17 = US$659m ÷ (US$4.5b - US$539m) (Based on the trailing twelve months to September 2024).

0.17 = 美元65900萬 ÷(美元45億 - 美元539m)(基於2024年9月結束於十二個月)。

Thus, M/I Homes has an ROCE of 17%. In absolute terms, that's a satisfactory return, but compared to the Consumer Durables industry average of 14% it's much better.

因此,MI 家居的資本回報率爲17%。就絕對值而言,這是一個令人滿意的回報,但與消費耐用品行業平均水平14%相比,要好得多。

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NYSE:MHO Return on Capital Employed November 12th 2024
紐交所:MHO 資本回報率2024年11月12日

Above you can see how the current ROCE for M/I Homes 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 M/I Homes for free.

在這裏,您可以看到mi 家居當前的ROCE相比於其之前的資本回報率,但從過去只能了解到一些信息。如果您願意,可以免費查看覆蓋mi 家居的分析師的預測。

How Are Returns Trending?

綜合上述,Cimpress非常有效地提高了其資本利用率所產生的回報。考慮到股票過去五年保持穩定,如果其他指標也不錯,則可能存在機會。因此,進一步研究這家公司並確定這些趨勢是否會持續是合理的。

M/I Homes is displaying some positive trends. The data shows that returns on capital have increased substantially over the last five years to 17%. Basically the business is earning more per dollar of capital invested and in addition to that, 110% more capital is being employed now too. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers.

mi 家居展示了一些積極的趨勢。數據顯示,過去五年內資本回報率大幅增長至17%。基本上,企業每投資一美元就能賺更多,而且現在投入的資本增加了110%。這可能表明在內部投資資本和以更高利率投資之間有很多機會,這種組合在多袋股中很常見。

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。

To sum it up, M/I Homes has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. Since the stock has returned a staggering 280% to shareholders over the last five years, it looks like investors are recognizing these changes. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.

總的來說,mi 家居已經證明可以重新投資業務併產生更高的資本回報率,這太棒了。由於過去五年股票爲股東帶來了驚人的280%的回報,看起來投資者意識到了這些變化。說到這一點,我們依然認爲有望的基本面意味着公司值得進一步的盡職調查。

M/I Homes does have some risks though, and we've spotted 1 warning sign for M/I Homes that you might be interested in.

mi 家居確實存在一些風險,我們已經發現mi 家居有1個警示信號,可能會引起您的興趣。

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.

對於喜歡投資穩健公司的人,請查看這份具有穩健資產負債表和高權益回報的公司免費列表。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。

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