Returns On Capital Signal Tricky Times Ahead For Portland General Electric (NYSE:POR)
Returns On Capital Signal Tricky Times Ahead For Portland General Electric (NYSE:POR)
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. However, after investigating Portland General Electric (NYSE:POR), we don't think it's current trends fit the mold of a multi-bagger.
如果我們想找到潛在的多袋裝袋機,通常有一些潛在的趨勢可以提供線索。首先,我們希望看到經過驗證的 返回 關於正在增加的資本使用率(ROCE),其次是擴大 基礎 的已動用資本。基本上,這意味着一家公司有可以繼續進行再投資的盈利計劃,這是複合機的一個特徵。但是,在調查了波特蘭通用電氣(紐約證券交易所代碼:POR)之後,我們認爲它目前的趨勢不符合多袋機的模式。
What Is Return On Capital Employed (ROCE)?
什麼是資本使用回報率(ROCE)?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Portland General Electric is:
如果你以前沒有與ROCE合作過,它可以衡量一家公司從其業務中使用的資本中產生的 “回報”(稅前利潤)。波特蘭通用電氣公司的計算公式爲:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已動用資本回報率 = 息稅前收益 (EBIT) ¥(總資產-流動負債)
0.039 = US$387m ÷ (US$11b - US$636m) (Based on the trailing twelve months to September 2023).
0.039 = 3.87 億美元 ¥(110 億美元至 6.36 億美元) (基於截至2023年9月的過去十二個月)。
Thus, Portland General Electric has an ROCE of 3.9%. Even though it's in line with the industry average of 4.4%, it's still a low return by itself.
因此,波特蘭通用電氣的投資回報率爲3.9%。儘管它與4.4%的行業平均水平一致,但它本身的回報率仍然很低。
Check out our latest analysis for Portland General Electric
查看我們對波特蘭通用電氣的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231120/0-e5c306e47982684cd22247d644cc3bfc-0-ff822f82d3ae80ad1bf3d1452da251bc.png/big)
Above you can see how the current ROCE for Portland General Electric compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Portland General Electric.
在上方你可以看到波特蘭通用電氣當前的投資回報率與之前的資本回報率相比如何,但從過去可以看出來只有這麼多。如果你想了解分析師對未來的預測,你應該查看我們的波特蘭通用電氣免費報告。
What Does the ROCE Trend For Portland General Electric Tell Us?
波特蘭通用電氣的ROCE趨勢告訴我們什麼?
On the surface, the trend of ROCE at Portland General Electric doesn't inspire confidence. Around five years ago the returns on capital were 4.9%, but since then they've fallen to 3.9%. However, given capital employed and revenue have both increased it appears that the business is currently pursuing growth, at the consequence of short term returns. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.
從表面上看,波特蘭通用電氣的ROCE趨勢並不能激發信心。大約五年前,資本回報率爲4.9%,但此後已降至3.9%。但是,鑑於資本使用量和收入均有所增加,由於短期回報,該業務目前似乎正在追求增長。而且,如果增加的資本產生額外的回報,那麼從長遠來看,企業乃至股東都將受益。
The Bottom Line On Portland General Electric's ROCE
波特蘭通用電氣公司ROCE的底線
While returns have fallen for Portland General Electric in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. In light of this, the stock has only gained 3.4% over the last five years. Therefore we'd recommend looking further into this stock to confirm if it has the makings of a good investment.
儘管波特蘭通用電氣最近回報率有所下降,但我們欣慰地看到,銷售額正在增長,而且該業務正在對其運營進行再投資。有鑑於此,該股在過去五年中僅上漲了3.4%。因此,我們建議進一步研究這隻股票,以確認它是否具有良好的投資能力。
One final note, you should learn about the 4 warning signs we've spotted with Portland General Electric (including 1 which is a bit unpleasant) .
最後一點,你應該了解我們在波特蘭通用電氣公司發現的4個警告信號(包括一個有點不愉快的警告)。
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.
對於那些喜歡投資穩健公司的人,可以查看這份資產負債表穩健和股本回報率高的公司的免費清單。
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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.
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。