share_log

Globant (NYSE:GLOB) Might Be Having Difficulty Using Its Capital Effectively

Globant (NYSE:GLOB) Might Be Having Difficulty Using Its Capital Effectively

Globant(紐約證券交易所代碼:GLOB)可能難以有效使用其資本
Simply Wall St ·  05/04 22:24

What are the early trends we should look for to identify a stock that could multiply in value over the long term? One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing 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 Globant (NYSE:GLOB) has the makings of a multi-bagger going forward, but let's have a look at why that may be.

我們應該尋找哪些早期趨勢來確定一隻可能長期價值成倍增長的股票?一種常見的方法是嘗試找一家公司 回報 論資本使用率(ROCE)在增加的同時增長 金額 所用資本的比例。歸根結底,這表明這是一家以不斷提高的回報率對利潤進行再投資的企業。但是,在簡短地查看了這些數字之後,我們認爲Globant(紐約證券交易所代碼:GLOB)未來不具備多袋裝貨商的實力,但讓我們來看看爲什麼會這樣。

What Is Return On Capital Employed (ROCE)?

什麼是資本使用回報率(ROCE)?

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. The formula for this calculation on Globant is:

對於那些不知道的人來說,ROCE是衡量公司年度稅前利潤(其回報率)的指標,相對於該業務使用的資本。在 Globant 上進行此計算的公式爲:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

已動用資本回報率 = 息稅前收益 (EBIT) ¥(總資產-流動負債)

0.11 = US$220m ÷ (US$2.7b - US$678m) (Based on the trailing twelve months to December 2023).

0.11 = 2.2 億美元 ÷(27 億美元-6.78 億美元) (基於截至2023年12月的過去十二個月)

Therefore, Globant has an ROCE of 11%. In absolute terms, that's a pretty normal return, and it's somewhat close to the IT industry average of 12%.

因此,Globant 的投資回報率爲 11%。從絕對值來看,這是一個相當正常的回報,而且略接近IT行業12%的平均水平。

roce
NYSE:GLOB Return on Capital Employed May 4th 2024
紐約證券交易所:GLOB 2024 年 5 月 4 日動用資本回報率

Above you can see how the current ROCE for Globant 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 Globant for free.

上面你可以看到Globant當前的投資回報率與其先前的資本回報率相比如何,但從過去可以看出來的只有那麼多。如果你願意,你可以免費查看報道Globant的分析師的預測。

So How Is Globant's ROCE Trending?

那麼 Globant 的 ROCE 趨勢如何呢?

When we looked at the ROCE trend at Globant, we didn't gain much confidence. To be more specific, ROCE has fallen from 21% over the last five years. Although, given both revenue and the amount of assets employed in the business have increased, it could suggest the company is investing in growth, and the extra capital has led to a short-term reduction in ROCE. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.

當我們觀察Globant的投資回報率趨勢時,我們並沒有獲得太大的信心。更具體地說,投資回報率已從過去五年的21%下降。儘管考慮到該業務的收入和資產數量都有所增加,但這可能表明該公司正在投資增長,而額外的資本導致了投資回報率的短期下降。而且,如果增加的資本產生額外的回報,那麼從長遠來看,企業乃至股東都將受益。

The Bottom Line

底線

In summary, despite lower returns in the short term, we're encouraged to see that Globant is reinvesting for growth and has higher sales as a result. And long term investors must be optimistic going forward because the stock has returned a huge 117% to shareholders in the last five years. So should these growth trends continue, we'd be optimistic on the stock going forward.

總而言之,儘管短期內回報率較低,但令我們感到鼓舞的是,Globant正在進行再投資以實現增長,從而提高了銷售額。長期投資者必須對未來持樂觀態度,因爲該股在過去五年中給股東的回報率高達117%。因此,如果這些增長趨勢繼續下去,我們將對該股的未來持樂觀態度。

If you want to continue researching Globant, you might be interested to know about the 1 warning sign that our analysis has discovered.

如果你想繼續研究Globant,你可能有興趣了解我們的分析發現的1個警告信號。

For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.

對於那些喜歡投資穩健公司的人,可以查看這份資產負債表穩健和股本回報率高的公司的免費清單。

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.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
    搶先評論