Returns On Capital At NextEra Energy (NYSE:NEE) Paint A Concerning Picture
Returns On Capital At NextEra Energy (NYSE:NEE) Paint A Concerning Picture
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's 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. However, after briefly looking over the numbers, we don't think NextEra Energy (NYSE:NEE) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
我们应该寻找什么样的趋势，我们想要找出能够长期成倍增值的股票？在其他方面，我们希望看到两件事；第一，不断增长的退货一是关于已用资本(ROCE)，二是公司的金额已动用资本的比例。如果你看到这个，通常意味着它是一家拥有出色商业模式和大量有利可图的再投资机会的公司。然而，在简单地看了一下数字之后，我们认为NextEra Energy(纽约证券交易所股票代码：NEE)具备了未来实现多个袋子的条件，但让我们看看为什么会这样。
Return On Capital Employed (ROCE): What is it?
资本回报率(ROCE)：它是什么？
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. To calculate this metric for NextEra Energy, this is the formula:
对于那些不确定ROCE是什么的人，它衡量的是一家公司可以从其业务中使用的资本产生的税前利润。要计算NextEra Energy的此指标，公式如下：
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已动用资本回报率=息税前收益(EBIT)？(总资产-流动负债)
0.015 = US$1.8b ÷ (US$145b - US$22b) (Based on the trailing twelve months to March 2022).
0.015美元=18亿美元(1450亿美元-220亿美元)(根据截至2022年3月的往绩12个月计算).
Therefore, NextEra Energy has an ROCE of 1.5%. Ultimately, that's a low return and it under-performs the Electric Utilities industry average of 4.8%.
所以呢，NextEra Energy的净资产收益率为1.5%。归根结底，这是一个较低的回报率，而且低于电力公用事业行业4.8%的平均水平。
Check out our latest analysis for NextEra Energy
查看我们对NextEra Energy的最新分析
Above you can see how the current ROCE for NextEra Energy 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 NextEra Energy here for free.
上面你可以看到NextEra Energy目前的净资产收益率(ROCE)与其先前的资本回报率相比如何，但你只能从过去知道这么多。如果你愿意，你可以在这里查看报道NextEra Energy的分析师的预测免费的。
How Are Returns Trending?
回报趋势如何？
In terms of NextEra Energy's historical ROCE movements, the trend isn't fantastic. Around five years ago the returns on capital were 5.4%, but since then they've fallen to 1.5%. On the other hand, the company has been employing more capital without a corresponding improvement in sales in the last year, which could suggest these investments are longer term plays. It's worth keeping an eye on the company's earnings from here on to see if these investments do end up contributing to the bottom line.
就NextEra Energy历史上的ROCE运动而言，这一趋势并不美妙。大约五年前，资本回报率为5.4%，但自那以来已降至1.5%。另一方面，该公司一直在使用更多的资本，但去年的销售额没有相应的改善，这可能表明这些投资是更长期的投资。从现在开始，值得密切关注该公司的收益，看看这些投资最终是否真的为利润做出了贡献。
In Conclusion...
总之..。
In summary, NextEra Energy is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. Yet to long term shareholders the stock has gifted them an incredible 138% return in the last five years, so the market appears to be rosy about its future. But if the trajectory of these underlying trends continue, we think the likelihood of it being a multi-bagger from here isn't high.
总而言之，NextEra Energy正在将资金重新投资到业务中，以实现增长，但不幸的是，销售额似乎还没有增加太多。然而，对于长期股东来说，该股在过去五年里给他们带来了令人难以置信的138%的回报率，因此市场似乎对其未来持乐观态度。但如果这些潜在趋势的轨迹继续下去，我们认为从现在开始出现多管齐下的可能性并不高。
One more thing: We've identified 4 warning signs with NextEra Energy (at least 2 which are a bit unpleasant) , and understanding them would certainly be useful.
还有一件事：我们已经确定了4个警示标志对于NextEra Energy(至少有2个有点令人不快)，了解它们肯定会很有用。
While NextEra Energy 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.
虽然NextEra Energy目前的回报率可能不是最高的，但我们已经编制了一份目前股本回报率超过25%的公司名单。看看这个免费在这里列出。
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本文由Simply Wall St.撰写，具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论，我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议，也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意，我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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