Latham Group (NASDAQ:SWIM) Could Be Struggling To Allocate Capital
Latham Group (NASDAQ:SWIM) Could Be Struggling To Allocate Capital
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount 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. Having said that, from a first glance at Latham Group (NASDAQ:SWIM) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
如果你正在寻找一款多功能装袋机,有几件事需要注意。除其他外,我们希望看到两件事;首先,成长 返回 论资本使用率(ROCE),其次是公司的扩张 金额 已动用资本的百分比。如果你看到这一点,那通常意味着它是一家拥有良好商业模式和大量有利可图的再投资机会的公司。话虽如此,乍一看瑞生集团(纳斯达克股票代码:SWIM),我们并不是在回报趋势上大放异彩,但让我们更深入地了解一下。
What Is Return On Capital Employed (ROCE)?
什么是资本使用回报率(ROCE)?
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 Latham Group is:
对于那些不知道的人,投资回报率是衡量公司相对于业务所用资本的年度税前利润(其回报)的指标。瑞生集团的计算公式为:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已动用资本回报率 = 息税前收益 (EBIT) ¥(总资产-流动负债)
0.0061 = US$4.7m ÷ (US$865m - US$87m) (Based on the trailing twelve months to September 2023).
0.0061 = 470 万美元 ¥(8.65 亿美元至 8700 万美元) (基于截至2023年9月的过去十二个月)。
So, Latham Group has an ROCE of 0.6%. Ultimately, that's a low return and it under-performs the Leisure industry average of 15%.
因此,瑞生集团的投资回报率为0.6%。归根结底,这是一个低回报,其表现低于休闲行业15%的平均水平。
Check out our latest analysis for Latham Group
查看我们对瑞生集团的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231114/0-a5a0e8f77edb8ff7764fea3bc747fe2d-0-328afc33f5bc4b1c6d6ca9c4f6577718.png/big)
Above you can see how the current ROCE for Latham Group compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.
在上方你可以看到瑞生集团当前的投资回报率与之前的资本回报率相比如何,但从过去可以看出来只有这么多。如果你有兴趣,可以在我们关于公司分析师预测的免费报告中查看分析师的预测。
The Trend Of ROCE
ROCE 的趋势
When we looked at the ROCE trend at Latham Group, we didn't gain much confidence. To be more specific, ROCE has fallen from 6.8% over the last three years. Given the business is employing more capital while revenue has slipped, this is a bit concerning. This could mean that the business is losing its competitive advantage or market share, because while more money is being put into ventures, it's actually producing a lower return - "less bang for their buck" per se.
当我们查看瑞生集团的投资回报率趋势时,我们并没有获得太大的信心。更具体地说,投资回报率已从过去三年的6.8%有所下降。鉴于该企业在收入下滑的情况下使用了更多的资本,这有点令人担忧。这可能意味着该企业正在失去竞争优势或市场份额,因为尽管向企业投入了更多的资金,但它产生的回报却较低——本身 “成本效益较低”。
In Conclusion...
总之...
We're a bit apprehensive about Latham Group because despite more capital being deployed in the business, returns on that capital and sales have both fallen. Investors haven't taken kindly to these developments, since the stock has declined 33% from where it was year ago. With underlying trends that aren't great in these areas, we'd consider looking elsewhere.
我们对瑞生集团有点担心,因为尽管在该业务中部署了更多资金,但资本回报率和销售额均有所下降。投资者对这些事态发展并不友善,因为该股已比去年同期下跌了33%。鉴于这些领域的潜在趋势并不理想,我们会考虑将目光投向其他地方。
On a final note, we've found 1 warning sign for Latham Group that we think you should be aware of.
最后一点,我们已经为瑞生集团找到了一个警告信号,我们认为你应该注意。
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.
如果你想寻找收益丰厚的稳健公司,可以免费查看这份资产负债表良好且股本回报率可观的公司名单。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。