Slowing Rates Of Return At WEC Energy Group (NYSE:WEC) Leave Little Room For Excitement
Slowing Rates Of Return At WEC Energy Group (NYSE:WEC) Leave Little Room For Excitement
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. However, after briefly looking over the numbers, we don't think WEC Energy Group (NYSE:WEC) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
如果我們想要找到一隻可能在長期內實現倍增的股票,我們應該關注哪些基本趨勢?理想情況下,一個業務將顯示兩種趨勢;首先是資本使用回報率(ROCE)增長,其次是使用資本的金額增加。最終,這表明這是一個以不斷增加的回報率再投資利潤的業務。然而,經過對數字的簡單審視,我們認爲WEC能源集團(紐交所:WEC)未來不具備成爲多倍收益股的潛力,但讓我們看看可能的原因。
Understanding Return On Capital Employed (ROCE)
理解已投資資本回報率(ROCE)
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 WEC Energy Group:
如果你之前沒有使用過ROCE,它衡量的是公司從其業務中所使用資本產生的「回報」(稅前利潤)。分析師使用這個公式來計算WEC能源集團的ROCE:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
資本利用率 = 利息和稅前利潤(EBIT) ÷ (總資產 - 流動負債)
0.052 = US$2.2b ÷ (US$45b - US$4.0b) (Based on the trailing twelve months to September 2024).
0.052 = 22億美元 ÷ (450億美元 - 40億美元)(基於截至2024年9月的最近十二個月)。
Thus, WEC Energy Group has an ROCE of 5.2%. On its own that's a low return on capital but it's in line with the industry's average returns of 5.1%.
因此,WEC能源集團的ROCE爲5.2%。單獨來看,這是一個低的資本回報,但與行業平均回報5.1%相符。
Above you can see how the current ROCE for WEC Energy Group compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering WEC Energy Group for free.
以上可以看到WEC能源集團當前的資本回報率與其以前的資本回報率的比較,但從過去能看出的信息有限。如果您願意,可以免費查看覆蓋WEC能源集團的分析師的預測。
How Are Returns Trending?
回報率的趨勢如何?
In terms of WEC Energy Group's historical ROCE trend, it doesn't exactly demand attention. The company has employed 31% more capital in the last five years, and the returns on that capital have remained stable at 5.2%. Given the company has increased the amount of capital employed, it appears the investments that have been made simply don't provide a high return on capital.
就WEC能源集團歷史資本回報率的趨勢而言,它並沒有引起太多注意。過去五年,該公司使用的資本增加了31%,而該資本的回報率保持穩定在5.2%。考慮到公司增加了使用的資本,似乎所做的投資並沒有提供高回報率。
The Bottom Line
總結
As we've seen above, WEC Energy Group's returns on capital haven't increased but it is reinvesting in the business. And with the stock having returned a mere 14% in the last five years to shareholders, you could argue that they're aware of these lackluster trends. Therefore, if you're looking for a multi-bagger, we'd propose looking at other options.
如上所述,WEC能源集團的資本回報率沒有增加,但它正在重投資於業務。而在過去五年中,股票對股東的回報僅爲14%,可以說他們意識到了這些不盡如人意的趨勢。因此,如果您在尋找能夠帶來高回報的投資,我們建議您考慮其他期權。
WEC Energy Group does have some risks, we noticed 2 warning signs (and 1 which doesn't sit too well with us) we think you should know about.
WEC能源集團確實存在一些風險,我們注意到2個警告信號(還有1個我們覺得不太合適)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.
如果您想尋找具有良好收益的穩健公司,可以查看這份擁有良好資產負債表和令人印象深刻的股本回報率的免費公司列表。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall ST在提到的任何股票中均沒有持倉。
譯文內容由第三人軟體翻譯。
評論(0)
請選擇舉報原因