Here's What To Make Of Gibraltar Industries' (NASDAQ:ROCK) Decelerating Rates Of Return
Here's What To Make Of Gibraltar Industries' (NASDAQ:ROCK) Decelerating Rates Of Return
If you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount 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 ran our eye over Gibraltar Industries' (NASDAQ:ROCK) trend of ROCE, we liked what we saw.
如果你正在尋找能夠大幅增值的投資,那裏有一些事情需要關注。一種常見的方法是嘗試尋找一家資本回報率(ROCE)正在上升的公司,同時其使用的資本也在不斷增長。簡單來說,這類業務是複利機器,意味着它們不斷地以越來越高的回報率再投資其收益。因此,當我們查看Gibraltar Industries(納斯達克:ROCK)的ROCE趨勢時,我們對看到的情況感到滿意。
Return On Capital Employed (ROCE): What Is It?
資本回報率(ROCE):它是什麼?
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 Gibraltar Industries, this is the formula:
爲了澄清,如果你不確定,ROCE是評估公司在其業務中投資的資本上賺取多少稅前收入(以百分比表示)的一項指標。要計算Gibraltar Industries的這一指標,公式如下:
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)
0.15 = US$163m ÷ (US$1.4b - US$307m) (Based on the trailing twelve months to September 2024).
0.15 = 16300萬美元 ÷ (14億美元 - 3.07億美元)(基於截至2024年9月的過去12個月)。
Thus, Gibraltar Industries has an ROCE of 15%. That's a pretty standard return and it's in line with the industry average of 15%.
因此,Gibraltar Industries的ROCE爲15%。這是一個相當標準的回報率,與行業平均水平15%一致。
Above you can see how the current ROCE for Gibraltar Industries 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 Gibraltar Industries for free.
在上面,您可以看到Gibraltar Industries當前的資本回報率(ROCE)與之前的資本回報率相比,但從過去的數據中您能了解的東西有限。如果您願意,可以免費查看覆蓋Gibraltar Industries的分析師的預測。
The Trend Of ROCE
資本回報率(ROCE)的趨勢
While the returns on capital are good, they haven't moved much. Over the past five years, ROCE has remained relatively flat at around 15% and the business has deployed 50% more capital into its operations. Since 15% is a moderate ROCE though, it's good to see a business can continue to reinvest at these decent rates of return. Over long periods of time, returns like these might not be too exciting, but with consistency they can pay off in terms of share price returns.
雖然資本回報率很好,但變化不大。在過去五年中,ROCE保持在大約15%左右,相比之下,該業務投入了50%的資本。儘管15%的ROCE是適中的,但看到業務能夠繼續以這些體面的回報率進行再投資是很好的。儘管在較長的時間段內,這樣的回報可能並不太令人興奮,但如果保持一致性,最終可以在股票價格回報上取得收益。
The Bottom Line
總結
The main thing to remember is that Gibraltar Industries has proven its ability to continually reinvest at respectable rates of return. However, over the last five years, the stock has only delivered a 36% return to shareholders who held over that period. That's why it could be worth your time looking into this stock further to discover if it has more traits of a multi-bagger.
需要記住的主要一點是,Gibraltar Industries已經證明了它能夠持續以可觀的回報率進行再投資。然而,在過去五年中,持有該股票的股東僅獲得了36%的回報。這就是爲什麼您可能值得花時間進一步研究這隻股票,以發現它是否具有更多的翻倍潛力。
Gibraltar Industries could be trading at an attractive price in other respects, so you might find our free intrinsic value estimation for ROCK on our platform quite valuable.
在其他方面,Gibraltar Industries可能以一個有吸引力的價格進行交易,因此您可能會發現我們平台上關於ROCK的免費內在價值評估相當有價值。
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
如果您想尋找具有良好收益的穩健公司,可以查看這份擁有良好資產負債表和令人印象深刻的股本回報率的免費公司列表。
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這篇來自Simply Wall St的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。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在提到的任何股票中均沒有持倉。