Some Investors May Be Worried About 1-800-FLOWERS.COM's (NASDAQ:FLWS) Returns On Capital
Some Investors May Be Worried About 1-800-FLOWERS.COM's (NASDAQ:FLWS) Returns On Capital
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing 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. Having said that, from a first glance at 1-800-FLOWERS.COM (NASDAQ:FLWS) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
如果你在尋找一個長期投資機會,有幾個方面需要關注。理想情況下,企業會出現兩個趨勢;首先是資本回報率(ROCE)增長,其次是使用資本的數量增加。簡而言之,這些類型的企業是複利機器,意味着它們持續以越來越高的回報率再投資其收益。雖然如此,從對1-800-FLOWERS.com(納斯達克:FLWS)的初步觀察來看,我們並沒有因爲回報趨勢而感到興奮,但讓我們深入看看。
What Is Return On Capital Employed (ROCE)?
什麼是資本回報率(ROCE)?
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. The formula for this calculation on 1-800-FLOWERS.COM is:
對於那些不確定ROCE是什麼的人,它測量了一家公司從其業務中使用的資本所能產生的稅前利潤。對於1-800-Flowers.com,這一計算的公式是:
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)
0.0066 = US$5.1m ÷ (US$1.0b - US$267m) (Based on the trailing twelve months to September 2024).
0.0066 = 510萬美金 ÷ (10億美金 - 2.67億美金)(基於截至2024年9月的最近十二個月)。
Therefore, 1-800-FLOWERS.COM has an ROCE of 0.7%. Ultimately, that's a low return and it under-performs the Specialty Retail industry average of 13%.
因此,1-800-FLOWERS.com的ROCE爲0.7%。最終,這是一個較低的回報,低於專業零售行業平均水平的13%。
In the above chart we have measured 1-800-FLOWERS.COM'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 1-800-FLOWERS.COM .
在上面的圖表中,我們將1-800-Flowers.com之前的資本回報率(ROCE)與其之前的表現進行了比較,但未來的表現可能更爲重要。如果您有興趣,可以在我們的免費分析師報告中查看1-800-Flowers.com的分析師預測。
What Does the ROCE Trend For 1-800-FLOWERS.COM Tell Us?
1-800-Flowers.com的ROCE趨勢告訴我們什麼?
On the surface, the trend of ROCE at 1-800-FLOWERS.COM doesn't inspire confidence. To be more specific, ROCE has fallen from 9.1% over the last five years. Meanwhile, the business is utilizing more capital but this hasn't moved the needle much in terms of sales in the past 12 months, so this could reflect longer term investments. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
表面上看,1-800-Flowers.com的ROCE趨勢並沒有讓人感到信心。更具體地說,ROCE在過去五年中下降到了9.1%。與此同時,業務正在使用更多的資本,但在過去12個月中,這並沒有在銷售額上產生明顯的影響,因此這可能反映了長期投資。從現在開始,值得關注公司的利潤,以查看這些投資是否最終會對淨利潤產生貢獻。
The Bottom Line On 1-800-FLOWERS.COM's ROCE
1-800-Flowers.com的ROCE總結
Bringing it all together, while we're somewhat encouraged by 1-800-FLOWERS.COM's reinvestment in its own business, we're aware that returns are shrinking. And in the last five years, the stock has given away 50% so the market doesn't look too hopeful on these trends strengthening any time soon. All in all, the inherent trends aren't typical of multi-baggers, so if that's what you're after, we think you might have more luck elsewhere.
綜上所述,雖然我們對1-800-Flowers.com對其自身業務的再投資感到有些鼓舞,但我們意識到回報正在縮小。在過去五年中,該股票已經貶值了50%,因此市場對這些趨勢在短期內加強並不太樂觀。總的來說,固有的趨勢並不符合多倍收益者的典型特徵,因此如果這就是您所追求的,我們認爲您可能在其他地方會更加順利。
1-800-FLOWERS.COM does have some risks though, and we've spotted 1 warning sign for 1-800-FLOWERS.COM that you might be interested in.
不過,1-800-Flowers.com確實存在一些風險,我們發現了1個可能讓您感興趣的警告信號。
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.
對於喜歡投資於穩健公司的投資者,可以查看這個免費的穩健資產負債表和高股本回報率公司的列表。
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