We Like These Underlying Return On Capital Trends At Acushnet Holdings (NYSE:GOLF)
We Like These Underlying Return On Capital Trends At Acushnet Holdings (NYSE:GOLF)
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. 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. So on that note, Acushnet Holdings (NYSE:GOLF) looks quite promising in regards to its trends of return on capital.
如果你不確定從哪開始尋找下一個股票翻幾番的機會，有一些關鍵趨勢你應該留意。理想情況下，一個企業將展現兩個趨勢；首先是不斷增長的資本回報率（ROCE），其次是日益增加的資本投入。如果你看到了這一點，通常意味着這是一個擁有出色業務模式和豐富盈利再投資機會的公司。因此，在這一點上，高爾史密斯國際控股（紐交所：GOLF）在資本回報率的趨勢方面看起來相當有前途。
What Is Return On Capital Employed (ROCE)?
我們對 Enphase Energy 的資本僱用回報率的看法：正如我們上面看到的，Enphase Energy 的資本回報率沒有提高，但它正在重新投資於業務。投資者必須認爲未來會有更好的前景，因爲股票表現良好，使持股五年以上的股東獲得了 690% 的收益。最終，如果基本趨勢持續存在，我們不會對它成爲一隻多頭股持有期很久很有信心。
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. To calculate this metric for Acushnet Holdings, this is the formula:
對於不了解的人，資本回報率（ROCE）是衡量公司每年稅前利潤（其回報）與企業資本的關係。要計算高爾史密斯國際控股的這一指標，可以使用以下公式：
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。
0.16 = US$285m ÷ (US$2.3b - US$479m) (Based on the trailing twelve months to June 2024).
0.16 = 2.85億美元 ÷ （23億美元 - 4.79億美元）（基於截至2024年6月的過去十二個月）。
Therefore, Acushnet Holdings has an ROCE of 16%. In absolute terms, that's a satisfactory return, but compared to the Leisure industry average of 13% it's much better.
因此，高爾史密斯國際控股的資本回報率爲16%。從絕對角度來看，這是令人滿意的回報，但與休閒行業平均水平13%相比，它要好得多。
In the above chart we have measured Acushnet Holdings' 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 Acushnet Holdings .
在上面的圖表中，我們根據高爾史密斯國際控股的過往ROCE與其過往表現進行了對比，但未來可能更加重要。如果您有興趣，您可以查看我們關於高爾史密斯國際控股的免費分析師報告中的分析師預測。
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。
The trends we've noticed at Acushnet Holdings are quite reassuring. The data shows that returns on capital have increased substantially over the last five years to 16%. Basically the business is earning more per dollar of capital invested and in addition to that, 24% more capital is being employed now too. So we're very much inspired by what we're seeing at Acushnet Holdings thanks to its ability to profitably reinvest capital.
在高爾史密斯國際控股上我們注意到的趨勢非常令人放心。數據顯示，過去五年資本回報率顯著提高至16%。基本上，企業每投資一美元就能賺更多錢，並且現在還增加了24%的資本投入。因此，高爾史密斯國際控股能夠通過有利可圖的再投資資本增加回報率，對我們來說是非常鼓舞人心的。
Our Take On Acushnet Holdings' ROCE
關於高爾史密斯國際控股的ROCE我們的觀點
In summary, it's great to see that Acushnet Holdings can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. Since the stock has returned a staggering 151% 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.
總而言之，高爾史密斯國際控股能夠通過始終以遞增的回報率重新投資資本來複合回報率，這是一些備受追捧的多倍增長股的關鍵要素之一。由於過去五年該股票給股東帶來了驚人的151%回報，看起來投資者正在認可這些變化。因此，考慮到該股票已經證明了有希望的趨勢，值得進一步研究該公司以確定這些趨勢是否可能持續。
On a final note, we've found 1 warning sign for Acushnet Holdings that we think you should be aware of.
最後，我們發現了高爾史密斯國際控股的1個警告信號，我們認爲您應該知道。
While Acushnet Holdings 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.
雖然高爾史密斯國際控股目前的回報率可能不是最高的，但我們編制了一份目前回報率超過25%的公司列表。請在此處查看這份免費列表。
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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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