Returns On Capital Are Showing Encouraging Signs At TransDigm Group (NYSE:TDG)
Returns On Capital Are Showing Encouraging Signs At TransDigm Group (NYSE:TDG)
There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base 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. So on that note, TransDigm Group (NYSE:TDG) looks quite promising in regards to its trends of return on capital.
如果我們想找到下一個倍增股，有一些關鍵趨勢需要注意。首先，我們需要看到一個經過驗證的資本使用率。如果你看到這一點，通常意味着這是一傢俱有出色業務模式和充足盈利再投資機會的公司。但是，簡要查看了數據後，我們認爲BWX Technologies（紐交所：BWXT）未來不具備成爲倍增股的特點，但讓我們看看爲什麼。資產回報率：它是什麼？了解資本使用回報率（ROCE）如果你以前沒有接觸過ROCE，它衡量公司從資本使用中產生的“回報”（稅前利潤）。要爲洪恩計算此指標，這是公式:資產回報率 = 利息和所得稅前收益（EBIT）÷（總資產-流動負債）如果您看到這個，通常意味着這是一家擁有出色商業模式和充足利潤再投資機會的公司。因此，在這方面，TransDigm Group (紐交所：TDG) 看起來相當有前途，關於其資本回報趨勢。
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。
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. Analysts use this formula to calculate it for TransDigm Group:
僅作澄清，如果您不確定，ROCE是衡量公司在其業務中投入的資本上賺取多少稅前收入的指標。分析師使用此公式來爲TransDigm Group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。
0.17 = US$3.3b ÷ (US$22b - US$2.2b) (Based on the trailing twelve months to March 2024).
0.17 = US $ 3.3b ÷（US $ 22b-US $ 2.2b）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, TransDigm Group has an ROCE of 17%. On its own, that's a standard return, however it's much better than the 9.5% generated by the Aerospace & Defense industry.
因此，TransDigm Group 的ROCE爲17％。就其本身而言，這是一個標準回報，但是它比航空及國防行業創造的9.5％要好得多。
In the above chart we have measured TransDigm Group'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 TransDigm Group for free.
在上圖中，我們已經測量了TransDigm Group以往的ROCE與其以往表現相比，但是未來可能更重要。如果您願意，您可以免費查看涵蓋TransDigm Group的分析師的預測。
The Trend Of ROCE
當尋找下一個倍增器時，如果您不確定從哪裏開始，請關注幾個關鍵趨勢。首先，我們希望看到一個經過驗證的資本使用率。如果您看到這一點，通常意味着這是一家擁有出色業務模式和大量盈利再投資機會的公司。然而，調查蒙托克可再生能源公司（NASDAQ：MNTK）後，我們認爲它的現行趨勢不符合倍增器的模式。
TransDigm Group is displaying some positive trends. The data shows that returns on capital have increased substantially over the last five years to 17%. The amount of capital employed has increased too, by 20%. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
TransDigm Group顯示出一些積極趨勢。數據顯示，在過去五年中，資本回報率大幅增長至17％。所使用的資本額也增加了20％。在使用逐漸增長的資本獲得逐漸增長的回報在多賺倍股票中很常見，這就是爲什麼我們對其印象深刻的原因。
The Bottom Line On TransDigm Group's ROCE
紐交所：TDG資本回報率的底線是
To sum it up, TransDigm Group has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. Since the stock has returned a staggering 215% to shareholders over the last five years, it looks like investors are recognizing these changes. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.
總之，TransDigm Group已經證明它可以再投資業務並在投資的資本上獲得更高的回報，這是非常好的。由於股票在過去五年中爲股東帶來了驚人的215％的回報，看起來投資者正在認識到這些變化。因此，考慮到該股票已經證明具有良好的趨勢，就值得進一步研究該公司，以查看這些趨勢是否可能持續。
One final note, you should learn about the 3 warning signs we've spotted with TransDigm Group (including 2 which are potentially serious) .
最後需要注意的是，您應該了解TransDigm Group出現的3個警告信號（包括2個潛在嚴重問題）。
While TransDigm Group 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TransDigm Group當前可能沒有實現最高的回報，但我們編制了一份當前獲得超過25％資本回報的公司清單。在這裏免費查看此列表。
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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.
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。