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Why The 27% Return On Capital At Lincoln Electric Holdings (NASDAQ:LECO) Should Have Your Attention

Why The 27% Return On Capital At Lincoln Electric Holdings (NASDAQ:LECO) Should Have Your Attention

爲什麼林肯電氣控股公司(納斯達克股票代碼:LECO)27%的資本回報率應該引起你的注意
Simply Wall St ·  05/22 00:20

If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base 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. With that in mind, the ROCE of Lincoln Electric Holdings (NASDAQ:LECO) looks great, so lets see what the trend can tell us.

如果我們想找到一隻可以長期成倍增長的股票,我們應該尋找哪些潛在趨勢?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。如果你看到這一點,這通常意味着它是一家擁有良好商業模式和大量盈利再投資機會的公司。考慮到這一點,林肯電氣控股公司(納斯達克股票代碼:LECO)的投資回報率看起來不錯,所以讓我們看看這一趨勢能告訴我們什麼。

Understanding Return On Capital Employed (ROCE)

了解資本使用回報率 (ROCE)

Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. Analysts use this formula to calculate it for Lincoln Electric Holdings:

爲了澄清一下你是否不確定,ROCE是評估公司從投資於其業務的資本中獲得多少稅前收入(按百分比計算)的指標。分析師使用這個公式來計算林肯電氣控股公司的利潤:

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)

0.27 = US$712m ÷ (US$3.4b - US$749m) (Based on the trailing twelve months to March 2024).

0.27 = 7.12億美元 ÷(34億美元-7.49億美元) (基於截至2024年3月的過去十二個月)

Therefore, Lincoln Electric Holdings has an ROCE of 27%. That's a fantastic return and not only that, it outpaces the average of 13% earned by companies in a similar industry.

因此,林肯電氣控股的投資回報率爲27%。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13%的平均收入。

roce
NasdaqGS:LECO Return on Capital Employed May 21st 2024
納斯達克GS:LECO 2024年5月21日動用資本回報率

In the above chart we have measured Lincoln Electric Holdings' prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Lincoln Electric Holdings for free.

在上圖中,我們將林肯電氣控股公司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。如果你願意,你可以免費查看報道林肯電氣控股公司的分析師的預測。

The Trend Of ROCE

ROCE 的趨勢

We like the trends that we're seeing from Lincoln Electric Holdings. Over the last five years, returns on capital employed have risen substantially to 27%. The amount of capital employed has increased too, by 44%. So we're very much inspired by what we're seeing at Lincoln Electric Holdings thanks to its ability to profitably reinvest capital.

我們喜歡林肯電氣控股公司看到的趨勢。在過去五年中,已動用資本回報率大幅上升至27%。使用的資本金額也增加了44%。因此,林肯電氣控股公司的表現給我們帶來了極大的啓發,這要歸功於林肯電氣控股公司能夠盈利地進行資本再投資。

The Key Takeaway

關鍵要點

In summary, it's great to see that Lincoln Electric Holdings can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. And a remarkable 222% total return over the last five years tells us that investors are expecting more good things to come in the future. In light of that, we think it's worth looking further into this stock because if Lincoln Electric Holdings can keep these trends up, it could have a bright future ahead.

總而言之,很高興看到林肯電氣控股公司能夠通過持續地以更高的回報率進行資本再投資來增加回報,因爲這些是那些備受追捧的多袋子公司的一些關鍵要素。過去五年中驚人的222%總回報率告訴我們,投資者預計未來還會有更多好事發生。有鑑於此,我們認爲值得進一步研究這隻股票,因爲如果林肯電氣控股公司能夠保持這些趨勢,它可能會有一個光明的未來。

One more thing to note, we've identified 2 warning signs with Lincoln Electric Holdings and understanding these should be part of your investment process.

還有一件事需要注意,我們已經向林肯電氣控股公司確定了兩個警告信號,我們知道這些信號應該是您投資過程的一部分。

High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.

高回報是強勁表現的關鍵因素,因此請查看我們的免費股本回報率高且資產負債表穩健的股票清單。

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。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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