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Southern Copper (NYSE:SCCO) Is Very Good At Capital Allocation

Southern Copper (NYSE:SCCO) Is Very Good At Capital Allocation

南方銅業(紐約證券交易所代碼:SCCO)非常擅長資本配置
Simply Wall St ·  05/23 19:47

If you're looking for a multi-bagger, there's a few things to keep an eye out for. Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. And in light of that, the trends we're seeing at Southern Copper's (NYSE:SCCO) look very promising so lets take a look.

如果你正在尋找一款多功能裝袋機,有幾件事需要注意。理想情況下,企業將表現出兩種趨勢;首先是增長 返回 論資本使用率(ROCE),其次是增加 金額 所用資本的比例。基本上,這意味着公司擁有可以繼續進行再投資的盈利計劃,這是複合機器的特徵。有鑑於此,我們在南方銅業(紐約證券交易所代碼:SCCO)看到的趨勢看起來非常有希望,所以讓我們來看看吧。

What Is Return On Capital Employed (ROCE)?

什麼是資本使用回報率(ROCE)?

Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. The formula for this calculation on Southern Copper is:

爲了澄清一下你是否不確定,ROCE是評估公司從投資於其業務的資本中獲得多少稅前收入(按百分比計算)的指標。南方銅業的計算公式爲:

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)

0.26 = US$4.0b ÷ (US$17b - US$1.3b) (Based on the trailing twelve months to March 2024).

0.26 = 40億美元 ÷(170億美元-13億美元) (基於截至2024年3月的過去十二個月)

So, Southern Copper has an ROCE of 26%. In absolute terms that's a great return and it's even better than the Metals and Mining industry average of 9.1%.

因此,南方銅業的投資回報率爲26%。從絕對值來看,這是一個不錯的回報,甚至比金屬和採礦業9.1%的平均水平還要好。

roce
NYSE:SCCO Return on Capital Employed May 23rd 2024
紐約證券交易所:SCCO 2024年5月23日動用資本回報率

In the above chart we have measured Southern Copper'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 Southern Copper .

在上圖中,我們將南方銅業先前的投資回報率與之前的表現進行了對比,但可以說,未來更爲重要。如果您有興趣,可以在我們的免費南方銅業分析師報告中查看分析師的預測。

What Does the ROCE Trend For Southern Copper Tell Us?

南方銅業的投資回報率趨勢告訴我們什麼?

Southern Copper is showing promise given that its ROCE is trending up and to the right. Looking at the data, we can see that even though capital employed in the business has remained relatively flat, the ROCE generated has risen by 34% over the last five years. Basically the business is generating higher returns from the same amount of capital and that is proof that there are improvements in the company's efficiencies. It's worth looking deeper into this though because while it's great that the business is more efficient, it might also mean that going forward the areas to invest internally for the organic growth are lacking.

鑑於其投資回報率呈上升和向右趨勢,南方銅業表現出希望。從數據來看,我們可以看到,儘管該業務中使用的資本保持相對平穩,但在過去五年中,產生的投資回報率增長了34%。基本上,該業務正在從相同數量的資本中獲得更高的回報,這證明了公司的效率有所提高。但是,值得更深入地研究這個問題,因爲儘管提高業務效率是件好事,但這也可能意味着未來缺乏內部投資以實現有機增長的領域。

What We Can Learn From Southern Copper's ROCE

我們可以從南方銅業的投資回報率中學到什麼

In summary, we're delighted to see that Southern Copper has been able to increase efficiencies and earn higher rates of return on the same amount of capital. And a remarkable 335% total return over the last five years tells us that investors are expecting more good things to come in the future. In light of that, we think it's worth looking further into this stock because if Southern Copper can keep these trends up, it could have a bright future ahead.

總而言之,我們很高興看到南方銅業能夠提高效率,並在相同數量的資本中獲得更高的回報率。過去五年中驚人的335%總回報率告訴我們,投資者預計未來還會有更多好事發生。有鑑於此,我們認爲值得進一步研究這隻股票,因爲如果南方銅業能夠保持這些趨勢,它可能會有一個光明的未來。

On a final note, we found 2 warning signs for Southern Copper (1 can't be ignored) you should be aware of.

最後,我們發現了南方銅業的兩個警告信號(其中一個不容忽視),你應該注意。

Southern Copper is not the only stock earning high returns. If you'd like to see more, check out our free list of companies earning high returns on equity with solid fundamentals.

南方銅業並不是唯一獲得高回報的股票。如果您想了解更多,請查看我們的免費公司名單,列出了基本面穩健且具有高股本回報率的公司。

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。
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