Investors Met With Slowing Returns on Capital At Skechers U.S.A (NYSE:SKX)
Investors Met With Slowing Returns on Capital At Skechers U.S.A (NYSE:SKX)
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing 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. That's why when we briefly looked at Skechers U.S.A's (NYSE:SKX) ROCE trend, we were pretty happy with what we saw.
你知道有一些財務指標可以提供潛在multi-bagger的線索嗎?理想情況下,一個企業將展示兩個趨勢;首先是不斷增長的資本利用率(ROCE),其次是不斷增加的資本利用量。如果您看到這一點,通常意味着這是一個擁有出色業務模式和充足利潤再投資機會的公司。這就是爲什麼當我們簡要查看Skechers U.S.A.(NYSE:SKX)的ROCE趨勢時,我們對所看到的東西非常滿意。
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. The formula for this calculation on Skechers U.S.A is:
只是爲了澄清,如果您不確定,ROCE是一種評估公司在其業務中投入的資本上獲得多少稅前收入(百分比)的指標。 這一計算公式基於Skechers U.S.A的數據:
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。
0.14 = US$852m ÷ (US$8.0b - US$2.1b) (Based on the trailing twelve months to June 2024).
0.14 = US$8.52億 ÷(US$80億 - US$2.1億)(基於截至2024年6月的過去十二個月)。
Thus, Skechers U.S.A has an ROCE of 14%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Luxury industry average of 13%.
因此,Skechers U.S.A的ROCE爲14%。就絕對值而言,這是一個相當正常的回報,與奢侈品行業的平均水平(13%)相當接近。
![big](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240806/0-7552eadc8cc940026ae6ce616668f652-0-7b21cac2f56475adc52eadb6861335be.png/big)
Above you can see how the current ROCE for Skechers U.S.A 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 Skechers U.S.A .
您可以看到Skechers U.S.A當前的ROCE與其過去的資本回報相比如何,但是過去只能告訴你這麼多。如果您感興趣,可以查看我們Skechers U.S.A的免費分析師報告中的分析師預測。
What The Trend Of ROCE Can Tell Us
儘管如此,當我們看 enphase energy (納斯達克股票代碼:ENPH) 的時候,它似乎並沒有完全符合這些要求。
While the current returns on capital are decent, they haven't changed much. The company has employed 73% more capital in the last five years, and the returns on that capital have remained stable at 14%. 14% is a pretty standard return, and it provides some comfort knowing that Skechers U.S.A has consistently earned this amount. Over long periods of time, returns like these might not be too exciting, but with consistency they can pay off in terms of share price returns.
儘管當前的資本回報率不錯,但它們並沒有發生太大變化。在過去的五年中,該公司已經增加了73%的資本,而該資本的回報率仍保持在14%的穩定水平。14%是一個相當標準的回報率,這提供了一些安慰,知道Skechers U.S.A一直穩定地賺得這筆錢。長期來看,這樣的回報可能過於平淡,但是通過穩定性,它們可以在股票回報方面得到回報。
The Bottom Line On Skechers U.S.A's ROCE
關於Skechers U.S.A的ROCE的結論
In the end, Skechers U.S.A has proven its ability to adequately reinvest capital at good rates of return. And since the stock has risen strongly over the last five years, it appears the market might expect this trend to continue. So while the positive underlying trends may be accounted for by investors, we still think this stock is worth looking into further.
最後,Skechers U.S.A已經證明能夠以良好的回報率充分再投資資本。而且由於該股票在過去的五年中大幅上漲,市場似乎認爲這種趨勢將繼續。因此,儘管積極的潛在趨勢可能被投資者考慮在內,但我們仍認爲這支股票值得進一步研究。
Skechers U.S.A could be trading at an attractive price in other respects, so you might find our free intrinsic value estimation for SKX on our platform quite valuable.
在其他方面,Skechers U.S.A的估值可能很有吸引力,因此您可能會發現我們平台上SKX的免費內在價值估計非常有價值。
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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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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@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
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。
譯文內容由第三人軟體翻譯。