Why The 28% Return On Capital At Papa John's International (NASDAQ:PZZA) Should Have Your Attention
Why The 28% Return On Capital At Papa John's International (NASDAQ:PZZA) Should Have Your Attention
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. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing 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. So when we looked at the ROCE trend of Papa John's International (NASDAQ:PZZA) we really liked what we saw.
如果您不確定在尋找下一個多倍增長股票時該從哪裏開始，有幾個關鍵趨勢您應該密切關注。首先，我們希望確定一個不斷增長的資本使用回報率（ROCE）以及越來越多的資本使用基礎。基本上，這意味着公司擁有可以繼續投資的盈利舉措，這是一個複利機器的特徵。因此，當我們查看Papa John's International（NASDAQ:PZZA）的ROCE趨勢時，我們真的很喜歡我們看到的。
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源現行ROCE與之前資本回報的比較，但過去只能知道這麼多。如果您感興趣，可以查看我們免費的蒙托克可再生能源分析師報告，了解分析師的預測。
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 Papa John's International is:
對於那些不確定什麼是ROCE的人，它測量了一家公司可以從其業務中使用的資本獲得的稅前利潤金額。此計算公式適用於Papa John's International：
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
資產僱用回報率（ROCE）是指企業利潤，即企業稅前利潤除以企業投入的總資本（負債加股權）。如果ROCE高於企業財務成本的承受能力，那麼企業就會創造出更多的價值。
0.28 = US$160m ÷ (US$847m - US$283m) (Based on the trailing twelve months to March 2024).
0.28 = 16000萬美元÷（8,4700萬美元-2.83億美元）（基於截至2024年3月的過去十二個月）。
So, Papa John's International has an ROCE of 28%. That's a fantastic return and not only that, it outpaces the average of 11% earned by companies in a similar industry.
因此，Papa John's International的ROCE爲28％。這是一個驚人的回報，而且還超過了同行業公司平均獲得的11％。
In the above chart we have measured Papa John's International's 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 analyst report for Papa John's International .
在上圖中，我們已經測量了Papa John's International以前的ROCE與其以前的表現，但未來可能更爲重要。如果您感興趣，可以查看我們爲Papa John's International提供的免費分析師報告中的分析師預測。
The Trend Of ROCE
當尋找下一個倍增器時，如果您不確定從哪裏開始，請關注幾個關鍵趨勢。首先，我們希望看到一個經過驗證的資本使用率。如果您看到這一點，通常意味着這是一家擁有出色業務模式和大量盈利再投資機會的公司。然而，調查蒙托克可再生能源公司（NASDAQ：MNTK）後，我們認爲它的現行趨勢不符合倍增器的模式。
Papa John's International's ROCE growth is quite impressive. The figures show that over the last five years, ROCE has grown 167% whilst employing roughly the same amount of capital. 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. On that front, things are looking good so it's worth exploring what management has said about growth plans going forward.
Papa John's International的ROCE增長令人印象深刻。數據顯示，在過去的五年中，ROCE增長了167％，而使用的資本大致相同。因此，這家企業現在可能正在收穫其過去投資的全部好處，因爲所使用的資本並未發生明顯的變化。從這方面來看，事情看起來很好，值得探索管理層有關未來增長計劃的說法。
In Conclusion...
最後，同等資本下回報率較低的趨勢通常不是我們關注創業板股票的最佳信號。由於這些發展進行良好，因此投資者不太可能表現友好。自五年前以來，該股下跌了32%。除非這些指標朝着更積極的軌跡轉變，否則我們將繼續尋找其他股票。
In summary, we're delighted to see that Papa John's International has been able to increase efficiencies and earn higher rates of return on the same amount of capital. Considering the stock has delivered 1.4% to its stockholders over the last five years, it may be fair to think that investors aren't fully aware of the promising trends yet. So exploring more about this stock could uncover a good opportunity, if the valuation and other metrics stack up.
總之，我們很高興看到Papa John's International能夠提高效率並在相同數量的資本上獲得更高的回報率。考慮到這支股票過去五年爲其股東提供了1.4％的回報，可以認爲投資者還沒有完全意識到有前途的趨勢。因此，如果估值和其他指標達標，更多地探索這支股票可能會揭示出一個好的機會。
One more thing, we've spotted 1 warning sign facing Papa John's International that you might find interesting.
還有一件事，我們發現Papa John's International面臨1個警告信號，您可能會發現它很有趣。
If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.
如果您想看到其他公司獲得高回報，請在此查看我們免費的高回報、堅實財務狀況的公司列表。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
對本文有反饋？關注內容？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋？ 對內容感到擔憂？ 請直接與我們聯繫。 或者，發送電子郵件至editorial-team@simplywallst.com。