Red Rock Resorts (NASDAQ:RRR) Shareholders Will Want The ROCE Trajectory To Continue
Red Rock Resorts (NASDAQ:RRR) Shareholders Will Want The ROCE Trajectory To Continue
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. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Speaking of which, we noticed some great changes in Red Rock Resorts' (NASDAQ:RRR) returns on capital, so let's have a look.
尋找一個有潛力大幅增長的企業並不容易，但如果我們觀察幾個關鍵的財務指標，這是有可能的。一種常見的方法是嘗試找到一家資本僱用量高的公司。這顯示它是一個複合機器，能夠持續地將其收益再投資於業務併產生更高的回報。什麼是資本僱用回報率（ROCE）？ROCE是一個企業年度稅前利潤（其回報）與企業資本僱用之間的比率。在 Enphase Energy 的計算公式是：資本僱用回報率=利息和稅前收益（EBIT）÷（資產總額-流動負債）。所以，Enphase Energy 的資本僱用回報率爲9.9%。單獨來看，這是一個較低的資本回報率，但它與行業平均回報率相當。以上你可以看到，Enphase Energy 的當前資本僱用回報率與之前的回報率相比如何，但從過去只能知道這麼多。如果你想看看分析師對未來的預測，你應該查看我們免費提供的 Enphase Energy 分析師報告。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。基本上這意味着公司有盈利的計劃可以繼續投資，這是複合機器的特點。談到這一點，我們注意到Red Rock Resorts（納斯達克股票代碼：RRR）的資本回報率有了很大的變化，我們來看看。
Return On Capital Employed (ROCE): What Is It?
資本僱用回報率（ROCE）是什麼？
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. To calculate this metric for Red Rock Resorts, this is the formula:
對於那些不知道ROCE是什麼的人，這是衡量公司一年稅前利潤（其回報）與業務中所使用的資本相關性的指標。爲了計算Red Rock Resorts的這個衡量指標，我們使用下面的公式：
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。
0.17 = US$609m ÷ (US$4.0b - US$307m) (Based on the trailing twelve months to March 2024).
0.17 = 6.09億美元 ÷（40億美元 - 3.07億美元）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。.
So, Red Rock Resorts has an ROCE of 17%. In absolute terms, that's a satisfactory return, but compared to the Hospitality industry average of 10% it's much better.
所以red rock resorts的ROCE爲17%。從絕對數值來看，這是一個令人滿意的回報，但與酒店業行業平均水平的10％相比要好得多。
Above you can see how the current ROCE for Red Rock Resorts compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for Red Rock Resorts .
上面你可以看到red rock resorts當前ROCE與過去回報之間的比較，但是從過去的數據中只能得出這麼多信息。如果你感興趣，可以查看我們免費的紅巖度假村分析師報告中的分析師預測。
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。
Red Rock Resorts' ROCE growth is quite impressive. The figures show that over the last five years, ROCE has grown 118% whilst employing roughly the same amount of capital. So our take on this is that the business has increased efficiencies to generate these higher returns, all the while not needing to make any additional investments. The company is doing well in that sense, and it's worth investigating what the management team has planned for long term growth prospects.
Red Rock Resorts的ROCE增長相當令人印象深刻。數據顯示，在過去的五年中，ROCE增長了118％，同時使用的資本數量大致相同。因此，我們認爲，公司提高了效率以產生更高的回報，而且在不需要進行任何額外投資的情況下實現了這一點。從這個意義上說，該公司表現良好，並值得進一步調查管理團隊對長期增長前景的規劃。
What We Can Learn From Red Rock Resorts' ROCE
我們可以從red rock resorts的ROCE中學到什麼
To bring it all together, Red Rock Resorts has done well to increase the returns it's generating from its capital employed. And a remarkable 205% 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 Red Rock Resorts can keep these trends up, it could have a bright future ahead.
綜上所述，Red Rock Resorts在增加其資本回報率方面做得很好。在過去的五年中，驚人的總回報達到了205％，這告訴我們投資者期望未來會有更多好的事情發生。因此，我們認爲值得進一步研究這個股票，因爲如果Red Rock Resorts能保持這些趨勢，它可能有一個輝煌的未來。
If you'd like to know more about Red Rock Resorts, we've spotted 2 warning signs, and 1 of them can't be ignored.
如果您想了解有關Red Rock Resorts的更多信息，我們已經發現了2個警告跡象，其中1個不能忽視。
While Red Rock Resorts 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.
雖然Red Rock Resorts目前的回報率可能不是最高的，但我們已經編制了一份目前收益率超過25％的公司列表。點擊此處查看免費列表。
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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。