Return Trends At Littelfuse (NASDAQ:LFUS) Aren't Appealing
Return Trends At Littelfuse (NASDAQ:LFUS) Aren't Appealing
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. In light of that, when we looked at Littelfuse (NASDAQ:LFUS) and its ROCE trend, we weren't exactly thrilled.
如果我们想找到潜在的多袋装货商,通常有潜在的趋势可以提供线索。在一个完美的世界中,我们希望看到一家公司向其业务投入更多资本,理想情况下,从这些资本中获得的回报也在增加。基本上,这意味着公司拥有可以继续进行再投资的盈利计划,这是复合机器的特征。有鉴于此,当我们研究Littelfuse(纳斯达克股票代码:LFUS)及其投资回报率趋势时,我们并不十分兴奋。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (ROCE)
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 Littelfuse, this is the formula:
对于那些不确定ROCE是什么的人,它衡量的是公司从其业务中使用的资本中可以产生的税前利润金额。要计算 Littelfuse 的这个指标,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)
0.091 = US$323m ÷ (US$3.9b - US$405m) (Based on the trailing twelve months to March 2024).
0.091 = 3.23亿美元 ÷(39亿美元-4.05亿美元) (基于截至2024年3月的过去十二个月)。
Therefore, Littelfuse has an ROCE of 9.1%. In absolute terms, that's a low return but it's around the Electronic industry average of 11%.
因此,Littelfuse的投资回报率为9.1%。从绝对值来看,回报率很低,但约为电子行业的11%。
In the above chart we have measured Littelfuse's 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 Littelfuse .
在上图中,我们将Littelfuse先前的投资回报率与之前的表现进行了比较,但可以说,未来更为重要。如果您有兴趣,可以在我们的免费Littelfuse分析师报告中查看分析师的预测。
What Can We Tell From Littelfuse's ROCE Trend?
我们可以从Littelfuse的投资回报率趋势中得出什么?
The returns on capital haven't changed much for Littelfuse in recent years. The company has consistently earned 9.1% for the last five years, and the capital employed within the business has risen 50% in that time. 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.
近年来,Littelfuse的资本回报率没有太大变化。在过去五年中,该公司的收入一直保持在9.1%,在此期间,公司内部使用的资本增长了50%。鉴于该公司增加了动用资本金额,看来已经进行的投资根本无法提供很高的资本回报率。
In Conclusion...
总之...
Long story short, while Littelfuse has been reinvesting its capital, the returns that it's generating haven't increased. Since the stock has gained an impressive 58% over the last five years, investors must think there's better things to come. However, unless these underlying trends turn more positive, we wouldn't get our hopes up too high.
长话短说,尽管Littelfuse一直在对其资本进行再投资,但其产生的回报并没有增加。由于该股在过去五年中上涨了令人印象深刻的58%,投资者一定认为会有更好的事情发生。但是,除非这些潜在趋势变得更加乐观,否则我们不会抱太高的希望。
One more thing, we've spotted 2 warning signs facing Littelfuse that you might find interesting.
还有一件事,我们在Littelfuse面前发现了两个警告标志,你可能会觉得有趣。
While Littelfuse 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.
尽管Littelfuse目前可能无法获得最高的回报,但我们编制了一份目前股本回报率超过25%的公司清单。在这里查看这个免费清单。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。
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