ITT (NYSE:ITT) Is Looking To Continue Growing Its Returns On Capital
ITT (NYSE:ITT) Is Looking To Continue Growing Its Returns On Capital
There are a few key trends to look for if we want to identify the next multi-bagger. 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. So on that note, ITT (NYSE:ITT) looks quite promising in regards to its trends of return on capital.
如果我們想要識別下一個多倍收益，有一些關鍵趨勢值得關注。在完美世界中，我們希望看到一家公司將更多資本投入到業務中，理想情況下，資本帶來的回報也在增加。簡單來說，這些類型的業務是複利機器，意味着它們不斷以越來越高的回報率重新投資他們的收益。因此，從這個角度看，ITT（紐交所：ITt）在資本回報率的趨勢方面看起來相當有前途。
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 ITT:
對於那些不確定什麼是ROCE的人，ROCE衡量公司能夠從其業務中所使用的資本中產生多少稅前利潤。分析師使用這個公式來計算ITT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。
0.18 = US$571m ÷ (US$4.4b - US$1.2b) (Based on the trailing twelve months to June 2024).
0.18 = 5.71億美元 ÷ （440億美元 - 12億美元）（基於截至2024年6月的過去十二個月）。
Therefore, ITT has an ROCE of 18%. On its own, that's a standard return, however it's much better than the 13% generated by the Machinery industry.
因此，ITt的ROCE爲18%。單獨看來，這是一個標準的回報，但它比機械行業的13%要好得多。
In the above chart we have measured ITT's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free analyst report for ITT .
在上面的圖表中，我們對ITT之前的ROCE與之前的表現進行了比較，但未來才是更重要的。如果您有興趣，可以查看我們針對ITT的免費分析師報告中的分析師預測。
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。
ITT has not disappointed with their ROCE growth. The figures show that over the last five years, ROCE has grown 50% whilst employing roughly the same amount of capital. So it's likely that the business is now reaping the full benefits of its past investments, since the capital employed hasn't changed considerably. 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.
在ROCE的增長方面，ITT並沒有令人失望。數據顯示，在過去的五年裏，ROCE增長了50%，同時資本投入基本持平。因此，很可能業務正在充分受益於過去的投資，因爲資本投入並沒有發生顯著變化。不過，值得深入研究一下，因爲雖然業務更加高效，但這也可能意味着在內部尋求有機增長的領域不足。
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。
In summary, we're delighted to see that ITT has been able to increase efficiencies and earn higher rates of return on the same amount of capital. And a remarkable 144% total return over the last five years tells us that investors are expecting more good things to come in the future. 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.
總的來說，我們很高興看到ITT能夠在同等資本投入的情況下提高效率並獲得更高的回報率。在過去的五年裏，總回報率達到了驚人的144%，這告訴我們投資者對未來有更多好事期待。因此，鑑於這支股票已經證明了具有良好的趨勢，值得進一步研究該公司，以確定這些趨勢是否有望持續。
Before jumping to any conclusions though, we need to know what value we're getting for the current share price. That's where you can check out our FREE intrinsic value estimation for ITT that compares the share price and estimated value.
然而，在得出任何結論之前，我們需要知道當前股價所對應的價值。這就是您可以查看我們針對ITT的自由內在價值估算的地方，可以比較股價和預估價值。
While ITT 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ITT目前可能沒有獲得最高的回報率，但我們已經編制了一個超過25%股權回報率的公司名單。在這裏查看這個免費名單。
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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。
譯文內容由第三人軟體翻譯。