Monster Beverage (NASDAQ:MNST) Is Aiming To Keep Up Its Impressive Returns
Monster Beverage (NASDAQ:MNST) Is Aiming To Keep Up Its Impressive Returns
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. 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 Monster Beverage (NASDAQ:MNST), we liked what we saw.
要找到一隻多倍收益的股票,我們應該關注業務中的哪些基本趨勢?通常,我們想要注意到資本回報率(ROCE)增長的趨勢,同時,資本投入的基礎也在擴大。如果你看到這一點,通常意味着這是一家擁有良好商業模式和充足盈利再投資機會的公司。因此,當我們觀察怪物飲料(納斯達克: MNST)的ROCE趨勢時,我們對所看到的感到滿意。
Understanding Return On Capital Employed (ROCE)
理解已投資資本回報率(ROCE)
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. The formula for this calculation on Monster Beverage is:
爲了澄清,如果你不確定的話,ROCE是評估公司在投入業務的資本上所賺取的稅前收入(以百分比形式)的一項指標。怪物飲料的計算公式是:
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)
0.30 = US$2.0b ÷ (US$8.1b - US$1.2b) (Based on the trailing twelve months to September 2024).
0.30 = 20億美金 ÷ (81億美金 - 12億美金) (基於截至2024年9月的過去十二個月)。
Therefore, Monster Beverage has an ROCE of 30%. In absolute terms that's a great return and it's even better than the Beverage industry average of 16%.
因此,怪物飲料的ROCE爲30%。在絕對值上,這是一項很好的回報,甚至比飲料行業的平均水平16%還要好。
In the above chart we have measured Monster Beverage's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Monster Beverage for free.
在上述圖表中,我們測量了怪物飲料之前的資本回報率(ROCE)與其過去的表現,但未來的表現可能更爲重要。如果您願意,可以免費查看覆蓋怪物飲料的分析師的預測。
What Can We Tell From Monster Beverage's ROCE Trend?
我們可以從怪物飲料的ROCE趨勢中得出什麼結論?
It's hard not to be impressed by Monster Beverage's returns on capital. Over the past five years, ROCE has remained relatively flat at around 30% and the business has deployed 54% more capital into its operations. Now considering ROCE is an attractive 30%, this combination is actually pretty appealing because it means the business can consistently put money to work and generate these high returns. If Monster Beverage can keep this up, we'd be very optimistic about its future.
怪物飲料的資本回報率令人印象深刻。在過去五年中,ROCE保持在約30%左右,該業務投入的資本增加了54%。現在考慮到ROCE是一個吸引人的30%,這種組合實際上相當吸引人,因爲它意味着該業務可以持續有效地運用資金併產生這些高回報率。如果怪物飲料能繼續保持這樣的表現,我們對其未來會非常樂觀。
The Bottom Line
總結
In short, we'd argue Monster Beverage has the makings of a multi-bagger since its been able to compound its capital at very profitable rates of return. And since the stock has risen strongly over the last five years, it appears the market might expect this trend to continue. So while the positive underlying trends may be accounted for by investors, we still think this stock is worth looking into further.
簡而言之,我們認爲怪物飲料具備成爲多倍回報股票的潛力,因爲它能夠以非常有利可圖的回報率複合其資本。由於該股票在過去五年中強勁上漲,市場似乎預計這一趨勢將繼續下去。因此,儘管正面的基本趨勢可能已被投資者所考慮,我們仍然認爲這隻股票值得進一步關注。
While Monster Beverage looks impressive, no company is worth an infinite price. The intrinsic value infographic for MNST helps visualize whether it is currently trading for a fair price.
雖然怪物飲料看起來令人印象深刻,但沒有公司值得無限制的定價。MNSt的內在價值信息圖可以幫助可視化它是否目前在以合理的價格交易。
High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.
高回報是強勁表現的關鍵要素,因此請查看我們提供的高股本回報率且資產負債表穩健的股票的免費列表。
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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.
對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
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。