The Returns At American Water Works Company (NYSE:AWK) Aren't Growing
The Returns At American Water Works Company (NYSE:AWK) Aren't Growing
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, 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. In light of that, when we looked at American Water Works Company (NYSE:AWK) and its ROCE trend, we weren't exactly thrilled.
如果你在寻找下一款多功能装袋机时不确定从哪里开始，那么你应该留意一些关键趋势。通常，我们希望注意到增长的趋势 返回 在资本使用率（ROCE）方面，除此之外，还在扩大 基础 已动用资本的百分比。基本上，这意味着一家公司有可以继续进行再投资的盈利计划，这是复合机的一个特征。有鉴于此，当我们查看美国自来水公司（纽约证券交易所代码：AWK）及其ROCE趋势时，我们并不感到非常兴奋。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (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 American Water Works Company is:
如果您不确定，可以澄清一下，ROCE是评估公司从投资于其业务的资本中获得多少税前收入（按百分比计算）的指标。美国自来水公司的计算公式为：
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）
0.054 = US$1.5b ÷ (US$30b - US$1.7b) (Based on the trailing twelve months to September 2023).
0.054 = 15 亿美元 ¥（300 亿美元至 17 亿美元） （基于截至2023年9月的过去十二个月）。
Thus, American Water Works Company has an ROCE of 5.4%. In absolute terms, that's a low return, but it's much better than the Water Utilities industry average of 4.1%.
因此，美国自来水公司的投资回报率为5.4％。从绝对值来看，这是一个低回报，但比水务行业4.1％的平均水平要好得多。
View our latest analysis for American Water Works Company
查看我们对美国自来水公司的最新分析
In the above chart we have measured American Water Works Company's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free report for American Water Works Company.
在上面的图表中，我们对美国自来水公司之前的投资回报率与之前的表现进行了比较，但可以说，未来更为重要。如果你想了解分析师对未来的预测，你应该查看我们为美国自来水公司提供的免费报告。
What The Trend Of ROCE Can Tell Us
ROCE 的趋势能告诉我们什么
In terms of American Water Works Company's historical ROCE trend, it doesn't exactly demand attention. The company has consistently earned 5.4% for the last five years, and the capital employed within the business has risen 47% in that time. Given the company has increased the amount of capital employed, it appears the investments that have been made simply don't provide a high return on capital.
就美国自来水公司的历史投资回报率趋势而言，这并不完全值得关注。在过去五年中，该公司的收入持续为5.4％，在此期间，该业务中使用的资本增长了47％。鉴于该公司增加了资本使用量，看来已经进行的投资根本无法提供较高的资本回报率。
The Bottom Line On American Water Works Company's ROCE
美国自来水公司投资回报率的底线
Long story short, while American Water Works Company has been reinvesting its capital, the returns that it's generating haven't increased. Although the market must be expecting these trends to improve because the stock has gained 54% over the last five years. However, unless these underlying trends turn more positive, we wouldn't get our hopes up too high.
长话短说，尽管美国自来水公司一直在对其资本进行再投资，但其产生的回报并未增加。尽管市场一定预计这些趋势会有所改善，因为该股在过去五年中上涨了54％。但是，除非这些潜在趋势变得更加乐观，否则我们的希望不会过高。
If you want to know some of the risks facing American Water Works Company we've found 4 warning signs (1 is significant!) that you should be aware of before investing here.
如果你想知道美国自来水公司面临的一些风险，我们已经找到了 4 个警告标志（1 个很重要！）在这里投资之前，你应该意识到这一点。
While American Water Works Company isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
尽管美国自来水公司的回报率不是最高的，但请查看这份资产负债表稳健且股本回报率高的公司的免费名单。
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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。