Investors Will Want Pure Storage's (NYSE:PSTG) Growth In ROCE To Persist
Investors Will Want Pure Storage's (NYSE:PSTG) Growth In ROCE To Persist
0.059 = US$147m ÷ (US$3.8b - US$1.3b) Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. With that in mind, we've noticed some promising trends at Pure Storage (NYSE:PSTG) so let's look a bit deeper.
尋找一個有潛力大幅增長的業務並不容易，但如果我們看一些關鍵的財務指標是可能的。通常情況下，我們會想要注意到一個不斷增長的資本使用回報率(ROCE)的趨勢，同時伴隨着不斷擴大的資本使用基礎。這向我們表明它是一個複利機器，能夠不斷地將其收益重新投資到業務中，併產生更高的回報。考慮到這一點，我們注意到Pure Storage (紐交所:PSTG)一些有希望的趨勢，讓我們更深入地了解一下。
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。
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for Pure Storage:
如果您以前沒有接觸過ROCE指標，它衡量的是公司從其業務中使用的資本所產生的'回報' (稅前利潤)。分析師使用這個公式來計算Pure Storage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。
0.059 = US$147m ÷ (US$3.8b - US$1.3b) (Based on the trailing twelve months to August 2024).
0.059 = 1.47億美元 ÷ (380億美元 - 13億美元)（截至2024年8月的過去十二個月）。
Thus, Pure Storage has an ROCE of 5.9%. In absolute terms, that's a low return and it also under-performs the Tech industry average of 8.2%.
因此，Pure Storage的ROCE爲5.9%。從絕對值上看，這是一個低迴報，而且表現也不如科技行業平均水平的8.2%。
In the above chart we have measured Pure Storage's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Pure Storage .
在上面的圖表中，我們已經測量了Pure Storage之前的ROCE與其之前的表現，但未來可能更重要。如果您想了解分析師未來的預測，請查看我們爲Pure Storage提供的免費分析師報告。
So How Is Pure Storage's ROCE Trending?
Pure Storage的ROCE趨勢如何？
Pure Storage has recently broken into profitability so their prior investments seem to be paying off. About five years ago the company was generating losses but things have turned around because it's now earning 5.9% on its capital. Not only that, but the company is utilizing 56% more capital than before, but that's to be expected from a company trying to break into profitability. This can tell us that the company has plenty of reinvestment opportunities that are able to generate higher returns.
Pure Storage最近實現了盈利，因此他們先前的投資似乎正在取得回報。大約五年前，該公司處於虧損狀態，但現在情況已經好轉，因爲它的資本收益率達到了5.9%。不僅如此，該公司比以前多利用了56%的資本，但這是可以預料的，一家試圖實現盈利的公司通常會這樣做。這可以告訴我們，該公司有許多再投資機會，能夠產生更高的回報。
The Key Takeaway
重要提示
Long story short, we're delighted to see that Pure Storage's reinvestment activities have paid off and the company is now profitable. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
長話短說，我們很高興看到Pure Storage的再投資活動取得了成功，公司現在是盈利的。隨着股票在過去五年表現異常良好，這些模式正被投資者所考慮。話雖如此，我們仍認爲，有望的基本面意味着公司值得進一步的盡職調查。
On a final note, we've found 2 warning signs for Pure Storage that we think you should be aware of.
最後，我們發現了Pure Storage的2個警示標誌，我們認爲您應該注意。
While Pure Storage 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.
儘管Pure Storage當前可能沒有最高的回報率，但我們已編制了一份目前回報率超過25%的公司名單。請查看這份免費名單。
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