We Like These Underlying Return On Capital Trends At Keurig Dr Pepper (NASDAQ:KDP)
We Like These Underlying Return On Capital Trends At Keurig Dr Pepper (NASDAQ:KDP)
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. So on that note, Keurig Dr Pepper (NASDAQ:KDP) looks quite promising in regards to its trends of return on capital.
要找到一隻多袋裝箱的股票，我們應該在企業中尋找哪些潛在趨勢？首先，我們希望看到經過驗證的 返回 關於正在增加的資本使用率（ROCE），其次是擴大 基礎 所用資本的比例。這向我們表明，它是一臺複合機器，能夠持續將其收益再投資到業務中併產生更高的回報。因此，就資本回報率的趨勢而言，Keurig Dr Pepper（納斯達克股票代碼：KDP）看起來很有希望。
What Is Return On Capital Employed (ROCE)?
什麼是資本使用回報率（ROCE）？
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for Keurig Dr Pepper:
如果你以前沒有與ROCE合作過，它會衡量公司從其業務中使用的資本中產生的 “回報”（稅前利潤）。分析師使用這個公式來計算 Keurig Dr Pepper 的值：
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）
0.075 = US$3.4b ÷ (US$52b - US$7.0b) (Based on the trailing twelve months to March 2024).
0.075 = 34億美元 ÷（520億美元-70億美元） （基於截至2024年3月的過去十二個月）。
Therefore, Keurig Dr Pepper has an ROCE of 7.5%. In absolute terms, that's a low return and it also under-performs the Beverage industry average of 17%.
因此，Keurig Dr Pepper 的投資回報率爲 7.5%。從絕對值來看，回報率很低，也低於飲料行業17％的平均水平。
In the above chart we have measured Keurig Dr Pepper's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Keurig Dr Pepper .
在上圖中，我們將Keurig Dr Pepper先前的投資回報率與之前的表現進行了對比，但可以說，未來更爲重要。如果你想了解分析師對未來的預測，你應該查看我們爲Keurig Dr Pepper提供的免費分析師報告。
So How Is Keurig Dr Pepper's ROCE Trending?
那麼 Keurig Dr Pepper 的 ROCE 趨勢如何？
Keurig Dr Pepper's ROCE growth is quite impressive. 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 87% over the last five years. Basically the business is generating higher returns from the same amount of capital and that is proof that there are improvements in the company's efficiencies. On that front, things are looking good so it's worth exploring what management has said about growth plans going forward.
Keurig Dr Pepper 的投資回報率增長相當可觀。從數據來看，我們可以看到，儘管該業務中使用的資本保持相對平穩，但在過去五年中，產生的投資回報率增長了87％。基本上，該業務正在從相同數量的資本中獲得更高的回報，這證明了公司的效率有所提高。在這方面，情況看起來不錯，因此值得探討管理層對未來增長計劃的看法。
In Conclusion...
總之...
As discussed above, Keurig Dr Pepper 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 30% to shareholders over the last five years, the promising fundamentals may not be recognized yet by investors. So with that in mind, we think the stock deserves further research.
如上所述，Keurig Dr Pepper似乎越來越擅長創造回報，因爲資本利用率保持不變，但收益（不計利息和稅收）有所增加。由於該股在過去五年中僅向股東回報了30％，因此前景良好的基本面可能尚未得到投資者的認可。因此，考慮到這一點，我們認爲該股值得進一步研究。
One final note, you should learn about the 2 warning signs we've spotted with Keurig Dr Pepper (including 1 which is a bit concerning) .
最後一點是，你應該了解一下我們在 Keurig Dr Pepper 身上發現的兩個警告信號（其中一個有點令人擔憂）。
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
如果你想尋找收益豐厚的穩健公司，可以免費查看這份資產負債表良好且股本回報率可觀的公司名單。
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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.
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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。