LSB Industries (NYSE:LXU) Is Looking To Continue Growing Its Returns On Capital
LSB Industries (NYSE:LXU) Is Looking To Continue Growing Its Returns On Capital
There are a few key trends to look for if we want to identify the next multi-bagger. In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. So when we looked at LSB Industries (NYSE:LXU) and its trend of ROCE, we really liked what we saw.
如果我們想要找到下一個暴利股的話，就需要關注幾個關鍵趨勢。在完美的世界裏，我們希望看到公司將更多的資本投入到業務中，並且最好從資本中獲得的回報也在增加。簡而言之，這些類型的企業是複利機器，這意味着它們不斷地以越來越高的投資回報率再投資它們的利潤。因此，當我們看到LSB Industries (紐交所:LXU) 和其資本回報率的趨勢時，我們確實非常喜歡我們所看到的。
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源現行ROCE與之前資本回報的比較，但過去只能知道這麼多。如果您感興趣，可以查看我們免費的蒙托克可再生能源分析師報告，了解分析師的預測。
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 LSB Industries:
如果你之前沒有接觸過資本回報率（ROCE），它的度量是用於衡量公司從其在業務中使用的資本中生成的“回報”（稅前利潤）的。分析師使用這個公式來計算LSB Industries的ROCE：
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
資產僱用回報率（ROCE）是指企業利潤，即企業稅前利潤除以企業投入的總資本（負債加股權）。如果ROCE高於企業財務成本的承受能力，那麼企業就會創造出更多的價值。
0.028 = US$33m ÷ (US$1.3b - US$110m) (Based on the trailing twelve months to March 2024).
0.028 = 美元33百萬 ÷ (美元13億 - 美元1.1億)在Elevance Health上，我們已經注意到的趨勢是相當令人放心的。數據顯示，過去五年資產回報率大幅提高至15％。投資所用資產的規模也增加了30％。這表明有很多機會進行內部資本投資，並以更高的速度不斷增長，這種組合在多倍增長方面很常見。.
Therefore, LSB Industries has an ROCE of 2.8%. In absolute terms, that's a low return and it also under-performs the Chemicals industry average of 8.8%.
因此，LSB Industries的ROCE爲2.8%。從絕對意義上來說，這是一種低迴報，並且它也表現不及化學品行業的平均水平，達到了8.8%。
In the above chart we have measured LSB Industries' 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 LSB Industries for free.
在上面的圖表中，我們已經測量了LSB Industries在以前的ROCE與以前的表現相比，但未來可能更重要。如果您願意，您可以免費查看涵蓋LSB Industries的分析師的預測。
What Does the ROCE Trend For LSB Industries Tell Us?
LSB Industries的ROCE趨勢向我們傳達了什麼信息？
We're delighted to see that LSB Industries is reaping rewards from its investments and has now broken into profitability. The company now earns 2.8% on its capital, because five years ago it was incurring losses. On top of that, what's interesting is that the amount of capital being employed has remained steady, so the business hasn't needed to put any additional money to work to generate these higher returns. That being said, while an increase in efficiency is no doubt appealing, it'd be helpful to know if the company does have any investment plans going forward. After all, a company can only become a long term multi-bagger if it continually reinvests in itself at high rates of return.
我們很高興地看到LSB Industries從其投資中獲得了回報，並已經實現了盈利。該公司現在在其資本中賺取2.8％的回報，因爲五年前它正在招致損失。更有趣的是，所使用的資本量保持穩定，因此該業務無需投入任何額外的資金即可產生這些更高的回報。儘管如此，儘管提高效率無疑非常有吸引力，但若能了解公司是否有任何投資計劃將會有所幫助。畢竟，只有在不斷以高回報率再投資本身的情況下，公司才能成爲長期的暴利股。
In Conclusion...
最後，同等資本下回報率較低的趨勢通常不是我們關注創業板股票的最佳信號。由於這些發展進行良好，因此投資者不太可能表現友好。自五年前以來，該股下跌了32%。除非這些指標朝着更積極的軌跡轉變，否則我們將繼續尋找其他股票。
To bring it all together, LSB Industries has done well to increase the returns it's generating from its capital employed. Since the stock has returned a staggering 223% to shareholders over the last five years, it looks like investors are recognizing these changes. In light of that, we think it's worth looking further into this stock because if LSB Industries can keep these trends up, it could have a bright future ahead.
要總結所有這些，LSB Industries已經成功地增加了其資本的回報率。由於該股票在過去五年中已經爲股東帶來了驚人的223％的回報率，因此看來投資者正在認識到這些變化。因此，在這種情況下，我們認爲值得進一步研究該股票，因爲如果LSB Industries能夠保持這些趨勢，它未來很可能會有輝煌的明天。
LSB Industries does come with some risks though, we found 4 warning signs in our investment analysis, and 1 of those can't be ignored...
儘管LSB Industries是不錯的，但我們在我們的投資分析中發現了4個警告信號，其中1個無法忽略...
While LSB Industries isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
儘管LSB Industries的回報率並不是最高的，但是請查看這個免費列表中的公司，它們在強大的資產負債表上獲得了高回報率。
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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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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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譯文內容由第三人軟體翻譯。