Here's What To Make Of News' (NASDAQ:NWSA) Decelerating Rates Of Return
Here's What To Make Of News' (NASDAQ:NWSA) Decelerating Rates Of Return
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. However, after briefly looking over the numbers, we don't think News (NASDAQ:NWSA) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
您知道有些財務指標可以提供可能成倍增長的線索嗎？除此之外，我們還想看到兩件事：首先，資本利用率增長；簡而言之，這些類型的企業是複合機器，這意味着它們不斷以越來越高的回報率重新投資其收益。儘管當我們看了Triumph Science & Technology Ltd (SHSE：600552)時，它似乎沒有全部符合這些條件。資產回報率：它是什麼？如果您不確定ROCE是什麼，它可以衡量公司能夠從其業務所僱用的資本產生多少稅前利潤。爲了計算V2X的這個指數，使用以下公式:0.054 = 1.24億美元÷（31億美元 - 8.53億美元）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。如果你看到這個，通常意味着這是一家擁有良好業務模式和大量盈利再投資機會的公司。 然而，經過簡要查看數據後，我們不認爲資訊（納斯達克代碼：NWSA）在未來有成爲多倍股的條件，但讓我們看看爲什麼會這樣。
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 News:
如果您以前沒接觸過ROCE，它就衡量了公司從其業務所需資本中創造的“回報率”（稅前利潤）。 分析師使用這個公式來計算資訊的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。
0.058 = US$778m ÷ (US$17b - US$3.0b) (Based on the trailing twelve months to March 2024).
0.058 = 7.78億美元 ÷（170億美元 - 30億美元 ）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, News has an ROCE of 5.8%. In absolute terms, that's a low return and it also under-performs the Media industry average of 11%.
因此，資訊的ROCE爲5.8％。 從絕對值來看，這是一個低迴報率，它也表現不如媒體行業的平均水平11％。
Above you can see how the current ROCE for News 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 News .
您可以看到資訊當前的ROCE與之前的資本回報率相比如何，但過去只能提供有限的信息。 如果您想了解分析師今後的預測，可以查看我們爲資訊提供的免費分析師報告。
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。
There hasn't been much to report for News' returns and its level of capital employed because both metrics have been steady for the past five years. It's not uncommon to see this when looking at a mature and stable business that isn't re-investing its earnings because it has likely passed that phase of the business cycle. So unless we see a substantial change at News in terms of ROCE and additional investments being made, we wouldn't hold our breath on it being a multi-bagger.
資訊的回報率和資本僱用水平過去五年來一直穩定，因此沒有太多可報告的。 當查看一個成熟而穩定的業務時，通常會看到這種情況，因爲它不再將其收益再投資，因爲它可能已經過了業務週期的那個階段。 因此，除非我們看到資訊在ROCE和額外投資方面有實質性改變，否則我們不會對它成爲多倍股抱有過高期望。
What We Can Learn From News' ROCE
從資訊的ROCE中我們可以得出什麼？
We can conclude that in regards to News' returns on capital employed and the trends, there isn't much change to report on. Yet to long term shareholders the stock has gifted them an incredible 111% return in the last five years, so the market appears to be rosy about its future. However, unless these underlying trends turn more positive, we wouldn't get our hopes up too high.
我們可以得出結論，就資訊的資本回報率和趨勢而言，沒有太多的變化可報告。 然而，對於長期股東而言，該股在過去5年中給予了他們令人難以置信的111％回報，因此市場似乎對其未來充滿信心。 但是，除非這些基本趨勢變得更加積極，否則我們不會過於樂觀。
If you want to continue researching News, you might be interested to know about the 1 warning sign that our analysis has discovered.
如果您想繼續研究資訊，您可能會對我們的分析發現的1個警告信號感興趣。
While News isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
雖然資訊的回報率不是最高的，但請查看此免費公司清單，這些公司的股本回報率高且財務狀況穩健。
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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.
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。