Returns Are Gaining Momentum At Community Health Systems (NYSE:CYH)
Returns Are Gaining Momentum At Community Health Systems (NYSE:CYH)
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Speaking of which, we noticed some great changes in Community Health Systems' (NYSE:CYH) returns on capital, so let's have a look.
我們應該尋找哪些早期趨勢來確定一隻可能長期價值成倍增長的股票?通常,我們希望注意到增長的趨勢 返回 在資本使用率(ROCE)方面,除此之外,還在擴大 基礎 所用資本的比例。歸根結底,這表明這是一家以不斷提高的回報率對利潤進行再投資的企業。說到這裏,我們注意到社區衛生系統(紐約證券交易所代碼:CYH)的資本回報率發生了一些重大變化,所以讓我們來看看吧。
Understanding Return On Capital Employed (ROCE)
了解資本使用回報率 (ROCE)
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. Analysts use this formula to calculate it for Community Health Systems:
對於那些不確定ROCE是什麼的人,它衡量的是公司從其業務中使用的資本中可以產生的稅前利潤金額。分析師使用以下公式來計算社區衛生系統的計算公式:
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)
0.069 = US$865m ÷ (US$15b - US$2.1b) (Based on the trailing twelve months to September 2023).
0.069 = 8.65億美元 ÷(150億美元-21億美元) (基於截至2023年9月的過去十二個月)。
Thus, Community Health Systems has an ROCE of 6.9%. In absolute terms, that's a low return and it also under-performs the Healthcare industry average of 9.9%.
因此,社區衛生系統的投資回報率爲6.9%。從絕對值來看,這是一個低迴報,其表現也低於醫療保健行業9.9%的平均水平。
See our latest analysis for Community Health Systems
查看我們對社區衛生系統的最新分析
![roce](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240126/0-e2aa11c14bf5fdb9982b17ad5d6dea90-0-a65d1d3042fa782e573a059364e7104f.png/big)
In the above chart we have measured Community Health Systems' prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free report on analyst forecasts for the company.
在上圖中,我們將社區衛生系統先前的投資回報率與之前的表現進行了對比,但可以說,未來更爲重要。如果您有興趣,可以在我們關於公司分析師預測的免費報告中查看分析師的預測。
How Are Returns Trending?
退貨趨勢如何?
Community Health Systems' ROCE growth is quite impressive. Looking at the data, we can see that even though capital employed in the business has remained relatively flat, the ROCE generated has risen by 270% over the last five years. So it's likely that the business is now reaping the full benefits of its past investments, since the capital employed hasn't changed considerably. It's worth looking deeper into this though because while it's great that the business is more efficient, it might also mean that going forward the areas to invest internally for the organic growth are lacking.
社區衛生系統的投資回報率增長相當可觀。從數據來看,我們可以看到,儘管該業務中使用的資本保持相對平穩,但在過去五年中,產生的投資回報率增長了270%。因此,由於所使用的資本沒有太大變化,該企業現在很可能正在從過去的投資中獲得全部收益。但是,值得更深入地研究這個問題,因爲儘管提高業務效率是件好事,但這也可能意味着未來缺乏內部投資以實現有機增長的領域。
The Bottom Line On Community Health Systems' ROCE
社區衛生系統投資回報率的底線
To sum it up, Community Health Systems is collecting higher returns from the same amount of capital, and that's impressive. Since the total return from the stock has been almost flat over the last five years, there might be an opportunity here if the valuation looks good. With that in mind, we believe the promising trends warrant this stock for further investigation.
總而言之,社區衛生系統正在從相同數量的資本中獲得更高的回報,這令人印象深刻。由於該股的總回報率在過去五年中幾乎持平,因此如果估值看起來不錯,這裏可能會有機會。考慮到這一點,我們認爲前景樂觀的趨勢值得對該股進行進一步調查。
One more thing: We've identified 4 warning signs with Community Health Systems (at least 2 which make us uncomfortable) , and understanding them would certainly be useful.
還有一件事:我們已經在社區衛生系統中確定了4個警告信號(至少有2個讓我們感到不舒服),了解它們肯定會很有用。
While Community Health Systems isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
儘管社區健康系統的回報率並不高,但請查看這份免費的股票回報率高、資產負債表穩健的公司名單。
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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.
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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。