Investors Met With Slowing Returns on Capital At Xcel Energy (NASDAQ:XEL)
Investors Met With Slowing Returns on Capital At Xcel Energy (NASDAQ:XEL)
What trends should we look for it we want to identify stocks that can multiply in value over the long term? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. In light of that, when we looked at Xcel Energy (NASDAQ:XEL) and its ROCE trend, we weren't exactly thrilled.
如果我们想要鉴别出那些股票可以长期增值,那么我们应该看哪些趋势呢?在完美的世界里,我们希望看到公司将更多的资本投入到业务中,并且理想情况下从资本中获得的回报也在增加。如果你看到这种情况,通常意味着这是一家拥有出色的商业模式和丰富的盈利再投资机会的公司。鉴于此,当我们查看Xcel Energy(纳斯达克:XEL)及其ROCE趋势时,我们并不是非常满意。
What Is Return On Capital Employed (ROCE)?
我们对 Enphase Energy 的资本雇用回报率的看法:正如我们上面看到的,Enphase Energy 的资本回报率没有提高,但它正在重新投资于业务。投资者必须认为未来会有更好的前景,因为股票表现良好,使持股五年以上的股东获得了 690% 的收益。最终,如果基本趋势持续存在,我们不会对它成为一只多头股持有期很久很有信心。
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Xcel Energy, this is the formula:
如果你以前没有使用ROCE,它衡量的是公司从其业务中使用的资本获得的“回报”(税前利润)。要为Xcel Energy计算这个指标,使用以下公式:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
资产雇用回报率(ROCE)是指企业利润,即企业税前利润除以企业投入的总资本(负债加股权)。如果ROCE高于企业财务成本的承受能力,那么企业就会创造出更多的价值。
0.044 = US$2.7b ÷ (US$68b - US$5.9b) (Based on the trailing twelve months to June 2024).
因此,Xcel Energy的ROCE为4.4%。就绝对数而言,这是一个很低的回报,但它大约在电力公用事业行业平均值的4.6%左右。
Thus, Xcel Energy has an ROCE of 4.4%. In absolute terms, that's a low return but it's around the Electric Utilities industry average of 4.6%.
NasdaqGS:XEL股本回报率2024年8月6日
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240807/0-e17cd0a5727babb8285ceb0496718297-0-235ed2e9378896489393c2126d87b853.png/big)
In the above chart we have measured Xcel Energy'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 Xcel Energy .
Xcel能源的ROCE趋势告诉我们什么?
What Does the ROCE Trend For Xcel Energy Tell Us?
在这方面,有比Xcel Energy更好的资本回报率。公司在过去的五年中一直赚取4.4%,而业务中使用的资本在这段时间内增长了43%。鉴于公司已增加使用的资本数量,似乎投资所获得的回报很低。
There are better returns on capital out there than what we're seeing at Xcel Energy. The company has consistently earned 4.4% for the last five years, and the capital employed within the business has risen 43% 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.
在Xcel Energy的ROCE方面结论如下:简而言之,Xcel Energy一直在再投资资本,且与以前一样获得低回报。投资者或许已经认识到这些趋势,因为过去五年里这支股票只为股东带来了9.3%的总回报。因此,如果你想寻找能够增值的股票,我们认为你可以在其他方面找到更多的运气。
The Bottom Line On Xcel Energy's ROCE
如果你想知道Xcel Energy面临的一些风险,我们找到了两个警示信号(其中一个不太令我们满意!),在在此之前应该注意这些风险。
In summary, Xcel Energy has simply been reinvesting capital and generating the same low rate of return as before. And investors may be recognizing these trends since the stock has only returned a total of 9.3% to shareholders over the last five years. As a result, if you're hunting for a multi-bagger, we think you'd have more luck elsewhere.
如果我们想要鉴别出那些股票可以长期增值,那么我们应该看哪些趋势呢?在完美的世界里,我们希望看到公司将更多的资本投入到业务中,并且理想情况下从资本中获得的回报也在增加。如果你看到这种情况,通常意味着这是一家拥有出色的商业模式和丰富的盈利再投资机会的公司。鉴于此,当我们查看Xcel Energy(纳斯达克:XEL)及其ROCE趋势时,我们并不是非常满意。
If you want to know some of the risks facing Xcel Energy we've found 2 warning signs (1 doesn't sit too well with us!) that you should be aware of before investing here.
Xcel Energy的ROCE趋势告诉我们什么?在这方面,有比Xcel Energy更好的资本回报率。公司在过去的五年中一直赚取4.4%,而业务中使用的资本在这段时间内增长了43%。鉴于公司已增加使用的资本数量,似乎投资所获得的回报很低。在Xcel Energy的ROCE方面结论如下:简而言之,Xcel Energy一直在再投资资本,且与以前一样获得低回报。投资者或许已经认识到这些趋势,因为过去五年里这支股票只为股东带来了9.3%的总回报。因此,如果你想寻找能够增值的股票,我们认为你可以在其他方面找到更多的运气。如果你想知道Xcel Energy面临的一些风险,我们找到了两个警示信号(其中一个不太令我们满意!),在在此之前应该注意这些风险。
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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.
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。