Graphic Packaging Holding's (NYSE:GPK) Returns On Capital Are Heading Higher
Graphic Packaging Holding's (NYSE:GPK) Returns On Capital Are Heading Higher
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Speaking of which, we noticed some great changes in Graphic Packaging Holding's (NYSE:GPK) returns on capital, so let's have a look.
您知道有些財務指標可以提供潛在倍增者的線索嗎？通常，我們會注意到資本利用率增長的趨勢。簡而言之，這些類型的企業是複利機器，意味着它們不斷以越來越高的回報率再投資其收益。然而，經過調查金德爾摩根（紐交所：KMI）後，我們認爲它目前的趨勢不符合倍增者的模式。資產回報率：它是什麼？對於那些不知道ROCE是什麼的人，ROCE是一個公司每年稅前利潤（回報）與企業用於投資的資本關係的度量。在Elevance Health的計算公式如下：資產回報率 = 利息和所得稅前收益（EBIT）÷（總資產-流動負債）簡而言之，這些類型的企業是複利複合機器，意味着它們不斷地將收益再投資於更高的回報率上。 說到這一點，我們注意到了Graphic Packaging Holding (紐交所:GPK)資本回報率有很大的變化，讓我們來看看。
Return On Capital Employed (ROCE): What Is It?
資本僱用回報率（ROCE）是什麼？
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. The formula for this calculation on Graphic Packaging Holding is:
僅爲澄清，如果您不確定，ROCE是一種用於評估公司在其業務中投資的資本所賺取的稅前收入的比例情況的指標。計算這種指標Graphic Packaging Holding的公式爲：
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。
0.14 = US$1.3b ÷ (US$11b - US$2.4b) (Based on the trailing twelve months to March 2024).
0.14=13億美元÷(110億美元-24億美元)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。.
Thus, Graphic Packaging Holding has an ROCE of 14%. On its own, that's a standard return, however it's much better than the 9.8% generated by the Packaging industry.
因此，Graphic Packaging Holding的ROCE爲14％。 單獨來看，這是一個標準回報率，但是它比包裝行業的9.8％要好得多。
In the above chart we have measured Graphic Packaging Holding's 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 Graphic Packaging Holding for free.
在上面的圖表中，我們測量了Graphic Packaging Holding之前的ROCE與其之前的表現，但未來可能更爲重要。 如果您想，可以免費查看涵蓋Graphic Packaging Holding的分析師的預測。
What The Trend Of ROCE Can Tell Us
儘管如此，當我們看 enphase energy (納斯達克股票代碼：ENPH) 的時候，它似乎並沒有完全符合這些要求。
The trends we've noticed at Graphic Packaging Holding are quite reassuring. Over the last five years, returns on capital employed have risen substantially to 14%. Basically the business is earning more per dollar of capital invested and in addition to that, 43% more capital is being employed now too. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, a combination that's common among multi-baggers.
我們注意到的Graphic Packaging Holding的趨勢相當令人放心。 在過去的五年中，資本投資回報率大幅上升至14％。 基本上，業務正在賺取更高的資本投資每個美元的收益率，並且現在還使用了43％更多的資本。 這可能表明，有足夠的機會在內部投資資本，並以更高的速度進行投資，這是多次收益豐厚股票的共同組合。
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 sum it up, Graphic Packaging Holding has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. And a remarkable 121% 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 Graphic Packaging Holding can keep these trends up, it could have a bright future ahead.
簡而言之，Graphic Packaging Holding已經證明了它可以重新投資於業務，並在佔用的資本上獲得更高的回報，這是非常好的。 在過去的五年中，總回報率驚人地達到了121％，這告訴我們投資者預期未來會有更多好事發生。 鑑於這一點，我們認爲值得進一步研究這隻股票，因爲如果Graphic Packaging Holding能夠繼續保持這些趨勢，它可能會有一個輝煌明天。
On a separate note, we've found 1 warning sign for Graphic Packaging Holding you'll probably want to know about.
另外，我們發現Graphic Packaging Holding存在1個警示信號，您可能想知道。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
Hao Tian International Construction Investment Group確實存在一些風險，我們已經發現了一條警示標誌，你可能會感興趣。對於那些喜歡投資於實力雄厚的公司的人，可以查看這個由財務狀況強大、股本回報率高的公司組成的免費列表。
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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。