Slowing Rates Of Return At MGE Energy (NASDAQ:MGEE) Leave Little Room For Excitement
Slowing Rates Of Return At MGE Energy (NASDAQ:MGEE) Leave Little Room For Excitement
If you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. In light of that, when we looked at MGE Energy (NASDAQ:MGEE) and its ROCE trend, we weren't exactly thrilled.
如果你正在寻找一款多功能装袋机,有几件事需要注意。一种常见的方法是尝试找一家公司 回报 论资本使用率(ROCE)在增加的同时增长 金额 所用资本的比例。这向我们表明,它是一台复合机器,能够持续将其收益再投资到业务中并产生更高的回报。有鉴于此,当我们研究MGE Energy(纳斯达克股票代码:MGEE)及其投资回报率趋势时,我们并不十分兴奋。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
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 MGE Energy is:
对于那些不确定ROCE是什么的人,它衡量的是公司从其业务中使用的资本中可以产生的税前利润金额。在 MGE Energy 上进行此计算的公式为:
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)
0.065 = US$159m ÷ (US$2.6b - US$123m) (Based on the trailing twelve months to September 2023).
0.065 = 1.59亿美元 ÷(26亿美元-1.23亿美元) (基于截至2023年9月的过去十二个月)。
So, MGE Energy has an ROCE of 6.5%. On its own that's a low return, but compared to the average of 4.4% generated by the Electric Utilities industry, it's much better.
因此,MGE Energy的投资回报率为6.5%。就其本身而言,回报率很低,但与电力公用事业行业4.4%的平均回报率相比,要好得多。
Check out our latest analysis for MGE Energy
查看我们对MGE Energy的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240117/0-3e5d5f54e389fea1ace9fced2b24c3ef-0-d04bea88da519875072c96ca216e07f5.png/big)
Above you can see how the current ROCE for MGE Energy compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering MGE Energy here for free.
在上面你可以看到MGE Energy当前的投资回报率与其先前的资本回报率相比如何,但从过去可以看出来的只有那么多。如果你愿意,可以在这里免费查看报道MGE Energy的分析师的预测。
The Trend Of ROCE
ROCE 的趋势
In terms of MGE Energy's historical ROCE trend, it doesn't exactly demand attention. Over the past five years, ROCE has remained relatively flat at around 6.5% and the business has deployed 32% more capital into its operations. This poor ROCE doesn't inspire confidence right now, and with the increase in capital employed, it's evident that the business isn't deploying the funds into high return investments.
就MGE Energy的历史投资回报率趋势而言,这并不完全值得关注。在过去的五年中,投资回报率一直相对持平,约为6.5%,该业务在运营中投入的资金增加了32%。这种糟糕的投资回报率目前并不能激发信心,随着所用资本的增加,很明显,该企业没有将资金部署到高回报的投资中。
The Key Takeaway
关键要点
As we've seen above, MGE Energy's returns on capital haven't increased but it is reinvesting in the business. And investors may be recognizing these trends since the stock has only returned a total of 26% to shareholders over the last five years. So if you're looking for a multi-bagger, the underlying trends indicate you may have better chances elsewhere.
正如我们在上面看到的,MGE Energy的资本回报率没有增加,但它正在对该业务进行再投资。投资者可能会意识到这些趋势,因为在过去五年中,该股总共只给股东带来了26%的回报。因此,如果你正在寻找一款多袋装车,潜在的趋势表明你在其他地方的机会可能更大。
On a final note, we've found 2 warning signs for MGE Energy that we think you should be aware of.
最后,我们发现了MGE Energy的两个警告信号,我们认为您应该注意这些信号。
While MGE Energy 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MGE Energy的回报率并不高,但请查看这份免费的股票回报率高、资产负债表稳健的公司名单。
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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。