Returns On Capital At NextEra Energy (NYSE:NEE) Paint A Concerning Picture
Returns On Capital At NextEra Energy (NYSE:NEE) Paint A Concerning Picture
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. However, after briefly looking over the numbers, we don't think NextEra Energy (NYSE:NEE) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
我們應該尋找什麼樣的趨勢，我們想要找出能夠長期成倍增值的股票？在其他方面，我們希望看到兩件事；第一，不斷增長的退貨一是關於已用資本(ROCE)，二是公司的金額已動用資本的比例。如果你看到這個，通常意味着它是一家擁有出色商業模式和大量有利可圖的再投資機會的公司。然而，在簡單地看了一下數字之後，我們認為NextEra Energy(紐約證券交易所股票代碼：NEE)具備了未來實現多個袋子的條件，但讓我們看看為什麼會這樣。
Return On Capital Employed (ROCE): What is it?
資本回報率(ROCE)：它是什麼？
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. To calculate this metric for NextEra Energy, this is the formula:
對於那些不確定ROCE是什麼的人，它衡量的是一家公司可以從其業務中使用的資本產生的税前利潤。要計算NextEra Energy的此指標，公式如下：
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已動用資本回報率=息税前收益(EBIT)？(總資產-流動負債)
0.015 = US$1.8b ÷ (US$145b - US$22b) (Based on the trailing twelve months to March 2022).
0.015美元=18億美元(1450億美元-220億美元)(根據截至2022年3月的往績12個月計算).
Therefore, NextEra Energy has an ROCE of 1.5%. Ultimately, that's a low return and it under-performs the Electric Utilities industry average of 4.8%.
所以呢，NextEra Energy的淨資產收益率為1.5%。歸根結底，這是一個較低的回報率，而且低於電力公用事業行業4.8%的平均水平。
Check out our latest analysis for NextEra Energy
查看我們對NextEra Energy的最新分析
Above you can see how the current ROCE for NextEra 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 NextEra Energy here for free.
上面你可以看到NextEra Energy目前的淨資產收益率(ROCE)與其先前的資本回報率相比如何，但你只能從過去知道這麼多。如果你願意，你可以在這裏查看報道NextEra Energy的分析師的預測免費的。
How Are Returns Trending?
回報趨勢如何？
In terms of NextEra Energy's historical ROCE movements, the trend isn't fantastic. Around five years ago the returns on capital were 5.4%, but since then they've fallen to 1.5%. On the other hand, the company has been employing more capital without a corresponding improvement in sales in the last year, which could suggest these investments are longer term plays. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
就NextEra Energy歷史上的ROCE運動而言，這一趨勢並不美妙。大約五年前，資本回報率為5.4%，但自那以來已降至1.5%。另一方面，該公司一直在使用更多的資本，但去年的銷售額沒有相應的改善，這可能表明這些投資是更長期的投資。從現在開始，值得密切關注該公司的收益，看看這些投資最終是否真的為利潤做出了貢獻。
In Conclusion...
總之..。
In summary, NextEra Energy is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. Yet to long term shareholders the stock has gifted them an incredible 138% return in the last five years, so the market appears to be rosy about its future. But if the trajectory of these underlying trends continue, we think the likelihood of it being a multi-bagger from here isn't high.
總而言之，NextEra Energy正在將資金重新投資到業務中，以實現增長，但不幸的是，銷售額似乎還沒有增加太多。然而，對於長期股東來説，該股在過去五年裏給他們帶來了令人難以置信的138%的回報率，因此市場似乎對其未來持樂觀態度。但如果這些潛在趨勢的軌跡繼續下去，我們認為從現在開始出現多管齊下的可能性並不高。
One more thing: We've identified 4 warning signs with NextEra Energy (at least 2 which are a bit unpleasant) , and understanding them would certainly be useful.
還有一件事：我們已經確定了4個警示標誌對於NextEra Energy(至少有2個有點令人不快)，瞭解它們肯定會很有用。
While NextEra Energy 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.
雖然NextEra Energy目前的回報率可能不是最高的，但我們已經編制了一份目前股本回報率超過25%的公司名單。看看這個免費在這裏列出。
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本文由Simply Wall St.撰寫，具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論，我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議，也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意，我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
譯文內容由第三人軟體翻譯。