MasterBrand (NYSE:MBC) Is Doing The Right Things To Multiply Its Share Price
MasterBrand (NYSE:MBC) Is Doing The Right Things To Multiply Its Share Price
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. With that in mind, we've noticed some promising trends at MasterBrand (NYSE:MBC) so let's look a bit deeper.
查找多倍股時，我們應該查看業務中的基本趨勢。理想情況下，一個業務會表現出兩個趨勢;首先，資本使用量不斷增長。簡而言之，這些類型的企業就像複利計算機器，意味着他們會不斷地再投資，以更高的回報率。我們注意到，在浙江維爾科技（SZSE:002590）看到一些有希望的趨勢，讓我們深入了解一下。資產回報率：它是什麼？資本使用率回報(ROCE)是什麼?ROCE 趨勢可以告訴我們什麼？比起 Enphase Energy，有更好的資本回報率選擇。在過去的五年中，該公司增加了 1,306% 的資本，而該資本的回報率保持穩定在 9.9%。這樣差的回報率現在並不令人信服，而且隨着資本的增加，很明顯企業並沒有將資金投入到高回報的投資中。最終顯示的是，該業務正在以不斷增加的回報率重新投資利潤。鑑於此，我們注意到MasterBrand（紐交所：MBC）有一些有前途的趨勢，因此讓我們再深入了解一下。
Return On Capital Employed (ROCE): What Is It?
資本僱用回報率（ROCE）是什麼？
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 MasterBrand:
如果您以前沒有接觸過ROCE，它衡量了一家公司從其業務中使用的資本所產生的“回報”（稅前利潤）。分析師使用此公式爲MasterBrand計算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。
0.15 = US$304m ÷ (US$2.4b - US$340m) (Based on the trailing twelve months to March 2024).
0.15 = 美元304m ÷ （美元2.4b - 美元340m）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, MasterBrand has an ROCE of 15%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Building industry average of 17%.
因此，MasterBrand的ROCE爲15％。就絕對值而言，這是一個相當正常的回報率，與建築業平均水平（17％）相當接近。
Above you can see how the current ROCE for MasterBrand compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering MasterBrand for free.
上面您可以看到MasterBrand當前的ROCE與其過去的資本回報率相比情況，但您只能從過去看到有限的信息。如果您願意，您可以免費查看覆蓋MasterBrand的分析師的預測。
How Are Returns Trending?
綜合上述，Cimpress非常有效地提高了其資本利用率所產生的回報。考慮到股票過去五年保持穩定，如果其他指標也不錯，則可能存在機會。因此，進一步研究這家公司並確定這些趨勢是否會持續是合理的。
MasterBrand is showing promise given that its ROCE is trending up and to the right. More specifically, while the company has kept capital employed relatively flat over the last three years, the ROCE has climbed 66% in that same time. So it's likely that the business is now reaping the full benefits of its past investments, since the capital employed hasn't changed considerably. The company is doing well in that sense, and it's worth investigating what the management team has planned for long term growth prospects.
MasterBrand的ROCE呈現上升趨勢，符合業務板塊的發展趨勢。具體而言，雖然公司在過去三年中未大幅增加資本僱用，但ROCE在同一期間上升了66％。因此，由於資本僱用並未顯著變化，該業務現在很可能正在享受其過去投資的全部好處。在這個意義上，公司的表現不錯，值得探究管理團隊對長期增長前景的規劃。
The Key Takeaway
重要提示
As discussed above, MasterBrand 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 returned a solid 34% to shareholders over the last year, it's fair to say investors are beginning to recognize these changes. In light of that, we think it's worth looking further into this stock because if MasterBrand can keep these trends up, it could have a bright future ahead.
如上所述，由於資本僱用保持穩定而收益（利息和稅前利潤）上升，MasterBrand似乎在更有效地生成回報方面表現越來越好。鑑於股票在過去一年中爲股東帶來了穩健的34％回報，可以說投資者已經開始認識到這些變化。因此，我們認爲值得進一步研究此股票，因爲如果MasterBrand能保持這些趨勢，它可能擁有一個輝煌明天。
If you want to continue researching MasterBrand, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果您想繼續研究MasterBrand，您可能會對我們的分析發現的1個警告信號感興趣。
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.
如果您想尋找財務狀況良好、回報卓越的實力強企業，可以免費查看以下公司列表。
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對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者，發送電子郵件至editorial-team (at) simplywallst.com。
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。