Under The Bonnet, Hour Glass' (SGX:AGS) Returns Look Impressive
Under The Bonnet, Hour Glass' (SGX:AGS) Returns Look Impressive
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? 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. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. With that in mind, the ROCE of Hour Glass (SGX:AGS) looks great, so lets see what the trend can tell us.
你知道有一些財務指標可以爲潛在的多袋裝袋者提供線索嗎？除其他外，我們希望看到兩件事；首先，成長 返回 論資本使用率（ROCE），其次是公司的擴張 金額 已動用資本的百分比。歸根結底，這表明這是一家以更高的回報率對利潤進行再投資的企業。考慮到這一點，ROCE of Hour Glass（新加坡證券交易所代碼：AGS）看起來不錯，所以讓我們看看這種趨勢能告訴我們什麼。
Return On Capital Employed (ROCE): What Is It?
資本使用回報率（ROCE）：這是什麼？
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. Analysts use this formula to calculate it for Hour Glass:
對於那些不知道的人來說，投資回報率是衡量公司年度稅前利潤（其回報率）與企業所用資本的關係。分析師使用以下公式來計算 Hour Glass：
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）
0.24 = S$206m ÷ (S$1.1b - S$195m) (Based on the trailing twelve months to September 2023).
0.24 = 2.06 億新元 ≤（11億新元-1.95 億新元） （基於截至2023年9月的過去十二個月）。
Therefore, Hour Glass has an ROCE of 24%. That's a fantastic return and not only that, it outpaces the average of 9.1% earned by companies in a similar industry.
因此，Hour Glass的投資回報率爲24％。這是一個了不起的回報，不僅如此，它還超過了同類行業公司9.1％的平均收入。
See our latest analysis for Hour Glass
查看我們對 Hour Glass 的最新分析
While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you're interested in investigating Hour Glass' past further, check out this free graph of past earnings, revenue and cash flow.
雖然過去不能代表未來，但了解一家公司的歷史表現可能會有所幫助，這就是我們上面有這張圖表的原因。如果你有興趣進一步調查Hour Glass的過去，請查看這張免費的過去收益、收入和現金流圖表。
The Trend Of ROCE
ROCE 的趨勢
We like the trends that we're seeing from Hour Glass. Over the last five years, returns on capital employed have risen substantially to 24%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 60%. So we're very much inspired by what we're seeing at Hour Glass thanks to its ability to profitably reinvest capital.
我們喜歡我們從 Hour Glass 中看到的趨勢。在過去五年中，資本使用回報率已大幅上升至24％。實際上，該公司每使用1美元的資本可以賺更多的錢，值得注意的是，資本金額也增加了60％。因此，我們深受Hour Glass所看到的情況的啓發，這要歸功於它能夠以盈利的方式進行資本再投資。
The Key Takeaway
關鍵要點
To sum it up, Hour Glass has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. And a remarkable 228% total return over the last five years tells us that investors are expecting more good things to come in the future. Therefore, we think it would be worth your time to check if these trends are going to continue.
總而言之，Hour Glass已經證明它可以對業務進行再投資，並從所使用的資本中獲得更高的回報，這太棒了。在過去五年中，228％的驚人總回報率告訴我們，投資者預計未來會有更多的好處。因此，我們認爲值得您花時間檢查這些趨勢是否會持續下去。
One more thing, we've spotted 1 warning sign facing Hour Glass that you might find interesting.
還有一件事，我們發現了 Hour Glass 正面有 1 個警告標誌，你可能會覺得很有趣。
Hour Glass is not the only stock earning high returns. If you'd like to see more, check out our free list of companies earning high returns on equity with solid fundamentals.
Hour Glass並不是唯一一隻獲得高回報的股票。如果您想了解更多，請查看我們的免費股本回報率高且基本面穩健的公司名單。
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.
對這篇文章有反饋嗎？對內容感到擔憂？直接聯繫我們。 或者，給編輯團隊 (at) simplywallst.com 發送電子郵件。
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。
譯文內容由第三人軟體翻譯。