There's Been No Shortage Of Growth Recently For Tootsie Roll Industries' (NYSE:TR) Returns On Capital
There's Been No Shortage Of Growth Recently For Tootsie Roll Industries' (NYSE:TR) Returns On Capital
0.11 = US$117m ÷ (US$1.1b - US$87m) 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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Speaking of which, we noticed some great changes in Tootsie Roll Industries' (NYSE:TR) returns on capital, so let's have a look.
如果您不确定在寻找下一个潜在股票爆发之地时应该从哪里开始，有一些关键趋势是您应该密切关注的。 首先，我们希望确定资本雇用回报率（ROCE）正在增长，然后与此同时，资本雇用基数也在不断增加。 简而言之，这些类型的企业是复利机器，这意味着它们持续地以越来越高的回报率再投资其收益。 说到这一点，我们注意到Tootsie Roll Industries（纽交所:TR）的资本回报率出现了一些很大的变化，让我们来看一看。
Return On Capital Employed (ROCE): What Is It?
资本利用率（ROCE）是什么？
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 Tootsie Roll Industries, this is the formula:
如果您以前没有使用ROCE，它衡量的是公司从其业务中所雇用的资本产生的“回报”（税前利润）。 要为Tootsie Roll Industries计算此指标，这是公式：
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
资本利用率 = 利息和税前利润（EBIT） ÷ （总资产 - 流动负债）
0.11 = US$117m ÷ (US$1.1b - US$87m) (Based on the trailing twelve months to June 2024).
0.11 = 11700万美元 ÷ （11亿美元 - 8700万美元）（截至2024年6月的过去十二个月）
Thus, Tootsie Roll Industries has an ROCE of 11%. By itself that's a normal return on capital and it's in line with the industry's average returns of 11%.
因此，Tootsie Roll Industries的ROCE为11%。 单独来看，这是一种正常的资本回报，与行业的平均回报率11%一致。
Historical performance is a great place to start when researching a stock so above you can see the gauge for Tootsie Roll Industries' ROCE against it's prior returns. If you want to delve into the historical earnings , check out these free graphs detailing revenue and cash flow performance of Tootsie Roll Industries.
历史绩效是研究股票的一个很好的起点，所以上面您可以看到Tootsie Roll Industries的ROCE与其之前收益的比较。如果您想深入了解历史收益，请查看这些免费图表，详细说明Tootsie Roll Industries的营业收入和现金流绩效。
What Can We Tell From Tootsie Roll Industries' ROCE Trend?
从Tootsie Roll Industries的ROCE趋势中我们能得出什么结论?
Tootsie Roll Industries is showing promise given that its ROCE is trending up and to the right. 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 37% over the last five years. So our take on this is that the business has increased efficiencies to generate these higher returns, all the while not needing to make any additional investments. The company is doing well in that sense, and it's worth investigating what the management team has planned for long term growth prospects.
Tootsie Roll Industries显示出潜力，因为其ROCE呈上升趋势而且向右发展。从数据来看，尽管业务中使用的资本保持相对稳定，但过去五年中ROCE增长了37%。我们对此的看法是，业务已增加效率以产生更高的回报，同时无需进行任何额外的投资。在这方面公司表现不错，值得研究管理团队对长期增长前景的规划。
What We Can Learn From Tootsie Roll Industries' ROCE
从Tootsie Roll Industries的ROCE我们能学到什么
As discussed above, Tootsie Roll Industries appears to be getting more proficient at generating returns since capital employed has remained flat but earnings (before interest and tax) are up. Since the stock has only returned 6.2% to shareholders over the last five years, the promising fundamentals may not be recognized yet by investors. Given that, we'd look further into this stock in case it has more traits that could make it multiply in the long term.
如上所述，Tootsie Roll Industries似乎在提高产生回报的能力，因为使用的资本保持不变，但收入（利息和税前）有所增加。由于过去五年股票仅为股东提供了6.2%的回报，这种有前途的基本面可能尚未被投资者认可。考虑到这一点，我们将进一步研究此股票，以查看是否具有更多可能在长期内增值的特征。
While Tootsie Roll Industries looks impressive, no company is worth an infinite price. The intrinsic value infographic for TR helps visualize whether it is currently trading for a fair price.
虽然Tootsie Roll Industries看起来令人印象深刻，但没有任何公司是无限价值的。TR的内在价值信息图表有助于判断其当前是否以公平的价格交易。
While Tootsie Roll Industries may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
尽管Tootsie Roll Industries当前可能并非赚取最高回报的公司，但我们已经列出了目前赚取25%以上股权回报的公司。请查看这个免费列表。
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