Benchmark Electronics (NYSE:BHE) Shareholders Will Want The ROCE Trajectory To Continue
Benchmark Electronics (NYSE:BHE) Shareholders Will Want The ROCE Trajectory To Continue
What are the early trends we should look for to identify a stock that could multiply in value over the long term? 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. With that in mind, we've noticed some promising trends at Benchmark Electronics (NYSE:BHE) so let's look a bit deeper.
在長期內，我們應該尋找哪些早期趨勢來確定一隻股票是否具有成倍增長的潛力呢？在完美世界中，我們希望看到一家公司將更多的資本投入到其業務中，並且理想情況下，從該資本所賺取的回報也在增加。簡而言之，這些類型的企業是複合機器，這意味着它們在不斷地將其收益以越來越高的回報率再投資。考慮到這一點，我們注意到Benchmark Electronics（紐交所：BHE）有一些有前途的趨勢，因此讓我們深入了解一下。
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。
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. Analysts use this formula to calculate it for Benchmark Electronics:
對於不確定ROCE是什麼的人來說，它衡量一個公司能夠從其業務中使用的資本產生的稅前利潤的數量。分析師使用以下公式來爲Benchmark Electronics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。
0.079 = US$123m ÷ (US$2.2b - US$668m) (Based on the trailing twelve months to March 2024).
0.079 = 1.23億美元 ÷ （22億美元 - 6.68億美元）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。.
Therefore, Benchmark Electronics has an ROCE of 7.9%. In absolute terms, that's a low return and it also under-performs the Electronic industry average of 11%.
因此，Benchmark Electronics的ROCE爲7.9%。從絕對值上看，這是一個較低的回報，它也表現不如電子行業的平均水平11％。
Above you can see how the current ROCE for Benchmark Electronics 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 Benchmark Electronics .
上面可以看到Benchmark Electronics目前的ROCE與其過去的資本回報率相比如何，但過去能說明的東西有限。如果您想了解分析師對未來的預測，可以查看我們的免費分析師報告，了解Benchmark Electronics的情況。
What Can We Tell From Benchmark Electronics' ROCE Trend?
從Benchmark Electronics的ROCE趨勢中我們能得出什麼？
Benchmark Electronics' ROCE growth is quite impressive. More specifically, while the company has kept capital employed relatively flat over the last five years, the ROCE has climbed 70% in that same time. 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. It's worth looking deeper into this though because while it's great that the business is more efficient, it might also mean that going forward the areas to invest internally for the organic growth are lacking.
Benchmark Electronics的ROCE增長相當令人印象深刻。更具體地說，雖然公司在過去五年中的資本使用相對穩定，但在同一時期內，ROCE增長了70％。因此，我們認爲這表明該企業增加了效率，從而產生了更高的回報，同時不需要進行任何額外的投資。雖然業務更爲高效是一件好事，但這也可能意味着在未來進行內部有機增長的領域會缺乏。因此，更深入地研究這一點是值得的。
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, Benchmark Electronics has done well to increase the returns it's generating from its capital employed. And with a respectable 80% awarded to those who held the stock over the last five years, you could argue that these developments are starting to get the attention they deserve. In light of that, we think it's worth looking further into this stock because if Benchmark Electronics can keep these trends up, it could have a bright future ahead.
綜上所述，Benchmark Electronics取得了增加其資本回報率的良好表現。隨着過去五年中持有該股票的人獲得了可觀的80％的回報，我們認爲這些發展值得得到關注。考慮到這一點，我們認爲值得進一步研究這隻股票，因爲如果Benchmark Electronics能夠保持這些趨勢，它可能有着輝煌明天。
If you'd like to know about the risks facing Benchmark Electronics, we've discovered 2 warning signs that you should be aware of.
如果您想了解Benchmark Electronics面臨的風險，我們已經發現了2個警告信號，您應該注意。
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。