share_log

Here's What To Make Of ESCO Technologies' (NYSE:ESE) Decelerating Rates Of Return

Here's What To Make Of ESCO Technologies' (NYSE:ESE) Decelerating Rates Of Return

以下是對ESCO Technologies(紐約證券交易所代碼:ESE)減速回報率的看法
Simply Wall St ·  05/22 22:56

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. However, after investigating ESCO Technologies (NYSE:ESE), we don't think it's current trends fit the mold of a multi-bagger.

尋找具有大幅增長潛力的企業並不容易,但如果我們看幾個關鍵的財務指標,這是可能的。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。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。但是,在調查了ESCO Technologies(紐約證券交易所代碼:ESE)之後,我們認爲目前的趨勢不符合多袋機的模式。

Understanding Return On Capital Employed (ROCE)

了解資本使用回報率 (ROCE)

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. The formula for this calculation on ESCO Technologies is:

對於那些不知道的人來說,ROCE是衡量公司年度稅前利潤(其回報率)的指標,相對於該業務使用的資本。在 ESCO Technologies 上進行此計算的公式爲:

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)

0.092 = US$138m ÷ (US$1.8b - US$289m) (Based on the trailing twelve months to March 2024).

0.092 = 1.38億美元 ÷(18億美元-2.89億美元) (基於截至2024年3月的過去十二個月).

So, ESCO Technologies has an ROCE of 9.2%. Ultimately, that's a low return and it under-performs the Machinery industry average of 13%.

因此,ESCO Technologies的投資回報率爲9.2%。歸根結底,這是一個低迴報,其表現低於機械行業13%的平均水平。

roce
NYSE:ESE Return on Capital Employed May 22nd 2024
紐約證券交易所:ESE 2024年5月22日動用資本回報率

Above you can see how the current ROCE for ESCO Technologies compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for ESCO Technologies .

上面你可以看到ESCO Technologies當前的投資回報率與其先前的資本回報率相比如何,但從過去可以看出來的只有那麼多。如果你想了解分析師對未來的預測,你應該查看我們爲ESCO Technologies提供的免費分析師報告。

How Are Returns Trending?

退貨趨勢如何?

There are better returns on capital out there than what we're seeing at ESCO Technologies. Over the past five years, ROCE has remained relatively flat at around 9.2% and the business has deployed 37% more capital into its operations. Given the company has increased the amount of capital employed, it appears the investments that have been made simply don't provide a high return on capital.

那裏的資本回報比我們在ESCO Technologies看到的要好。在過去五年中,投資回報率一直相對持平,約爲9.2%,該業務在運營中投入的資金增加了37%。鑑於該公司增加了動用資本金額,看來已經進行的投資根本無法提供很高的資本回報率。

The Bottom Line

底線

In summary, ESCO Technologies has simply been reinvesting capital and generating the same low rate of return as before. Since the stock has gained an impressive 62% over the last five years, investors must think there's better things to come. 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,ESCO Technologies只是在對資本進行再投資,併產生了與以前一樣低的回報率。由於該股在過去五年中上漲了令人印象深刻的62%,因此投資者必須認爲會有更好的事情發生。但是,如果這些潛在趨勢的發展軌跡繼續下去,我們認爲從現在起它成爲多股勢力的可能性並不高。

If you're still interested in ESCO Technologies it's worth checking out our FREE intrinsic value approximation for ESE to see if it's trading at an attractive price in other respects.

如果您仍然對ESCO Technologies感興趣,值得查看我們的免費ESE內在價值近似值,看看它在其他方面的交易價格是否具有吸引力。

While ESCO Technologies 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.

儘管ESCO Technologies目前可能無法獲得最高的回報,但我們編制了一份目前股本回報率超過25%的公司名單。在這裏查看這個免費清單。

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。
    搶先評論