The Returns On Capital At Helios Technologies (NYSE:HLIO) Don't Inspire Confidence
The Returns On Capital At Helios Technologies (NYSE:HLIO) Don't Inspire Confidence
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. In light of that, when we looked at Helios Technologies (NYSE:HLIO) and its ROCE trend, we weren't exactly thrilled.
如果我們想要找到長期內能夠增值的股票，我們應該看哪些趨勢？首先，我們希望看到資本運營回報率（ROCE）有所增長，而且資本運營的基礎在擴大。基本上，這意味着公司有盈利的項目可以持續投資，這是一個複利機器的特徵。在這方面，當我們研究Helios Technologies（紐交所：HLIO）及其ROCE的趨勢時，我們並不是十分滿意。
Return On Capital Employed (ROCE): What Is It?
資本僱用回報率（ROCE）是什麼？
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. To calculate this metric for Helios Technologies, this is the formula:
僅作澄清，ROCE是一種計算公司對所投資資本實現的稅前收益的百分比的指標。要計算Helios Technologies的這個指標，需要使用以下公式：
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。
0.059 = US$84m ÷ (US$1.6b - US$145m) (Based on the trailing twelve months to June 2024).
0.059 = 8400萬美元 ÷（16億美元 - 1.45億美元）（基於過去十二個月截至2024年6月）。
Thus, Helios Technologies has an ROCE of 5.9%. Ultimately, that's a low return and it under-performs the Machinery industry average of 13%.
因此，Helios Technologies的ROCE爲5.9%。最終，這是一個較低的回報率，低於機械行業平均水平13%。
Above you can see how the current ROCE for Helios Technologies 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 Helios Technologies .
上面表格顯示了Helios Technologies的當前ROCE與其過去資本回報率的比較情況，但從過去只能看到那麼多。如果您想看看分析師對其未來的預測，您應該查看我們提供的關於Helios Technologies的免費分析師報告。
So How Is Helios Technologies' ROCE Trending?
Helios Technologies的ROCE趨勢如何？
When we looked at the ROCE trend at Helios Technologies, we didn't gain much confidence. Around five years ago the returns on capital were 9.8%, but since then they've fallen to 5.9%. Meanwhile, the business is utilizing more capital but this hasn't moved the needle much in terms of sales in the past 12 months, so this could reflect longer term investments. It may take some time before the company starts to see any change in earnings from these investments.
當我們研究了Helios Technologies的ROCE趨勢時，並沒有獲得太多的信心。大約五年前，資本回報率爲9.8%，但此後下降到了5.9%。與此同時，該公司正在利用更多的資本，但過去12個月的銷售額並沒有因此有太大變化，這可能反映了長期投資。在這些投資開始對公司的收益產生任何改變之前可能需要一些時間。
The Key Takeaway
重要提示
In summary, Helios Technologies is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. Unsurprisingly then, the total return to shareholders over the last five years has been flat. On the whole, we aren't too inspired by the underlying trends and we think there may be better chances of finding a multi-bagger elsewhere.
總的來說，Helios Technologies正在將資金重新投入業務以實現增長，但不幸的是銷售額似乎還沒有增長太多。因此，過去五年的股東總回報率基本持平。總體而言，我們對潛在的趨勢不太感到鼓舞，並且認爲在其他地方可能有更好的機會找到一個倍增的機會。
Helios Technologies does have some risks, we noticed 3 warning signs (and 1 which is significant) we think you should know about.
Helios Technologies確實存在一些風險，我們注意到了3個警示信號（其中1個比較重要），我們認爲您應該了解。
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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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。
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