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Shareholders Would Enjoy A Repeat Of Fortinet's (NASDAQ:FTNT) Recent Growth In Returns

Shareholders Would Enjoy A Repeat Of Fortinet's (NASDAQ:FTNT) Recent Growth In Returns

股東們將享受Fortinet(納斯達克股票代碼:FTNT)近期回報增長的重演
Simply Wall St ·  05/24 22:24

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key financial metrics. 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. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. With that in mind, the ROCE of Fortinet (NASDAQ:FTNT) looks great, so lets see what the trend can tell us.

尋找具有大幅增長潛力的企業並不容易,但如果我們看幾個關鍵的財務指標,這是可能的。除其他外,我們希望看到兩件事;首先,成長 返回 論資本使用率(ROCE),其次是公司的擴張 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。考慮到這一點,Fortinet(納斯達克股票代碼:FTNT)的投資回報率看起來不錯,所以讓我們看看趨勢能告訴我們什麼。

What Is Return On Capital Employed (ROCE)?

什麼是資本使用回報率(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. The formula for this calculation on Fortinet is:

對於那些不確定ROCE是什麼的人,它衡量的是公司從其業務中使用的資本中可以產生的稅前利潤金額。在 Fortinet 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)

0.33 = US$1.3b ÷ (US$7.7b - US$3.8b) (Based on the trailing twelve months to March 2024).

0.33 = 13億美元 ÷(77億美元-38億美元) (基於截至2024年3月的過去十二個月)

So, Fortinet has an ROCE of 33%. That's a fantastic return and not only that, it outpaces the average of 7.2% earned by companies in a similar industry.

因此,Fortinet的投資回報率爲33%。這是一個了不起的回報,不僅如此,它還超過了同類行業公司7.2%的平均收入。

roce
NasdaqGS:FTNT Return on Capital Employed May 24th 2024
納斯達克GS:FTNT 2024年5月24日動用資本回報率

In the above chart we have measured Fortinet's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Fortinet for free.

在上圖中,我們將Fortinet先前的投資回報率與之前的表現進行了比較,但可以說,未來更爲重要。如果你願意,你可以免費查看報道Fortinet的分析師的預測。

What Can We Tell From Fortinet's ROCE Trend?

我們可以從Fortinet的投資回報率趨勢中得出什麼?

Fortinet is displaying some positive trends. The data shows that returns on capital have increased substantially over the last five years to 33%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 98%. So we're very much inspired by what we're seeing at Fortinet thanks to its ability to profitably reinvest capital.

Fortinet顯示出一些積極的趨勢。數據顯示,在過去五年中,資本回報率大幅上升至33%。實際上,該公司每使用1美元資本就能賺更多的錢,值得注意的是,資本金額也增加了98%。因此,我們在Fortinet所看到的情況給我們帶來了極大的啓發,這要歸功於它能夠盈利地進行資本再投資。

For the record though, there was a noticeable increase in the company's current liabilities over the period, so we would attribute some of the ROCE growth to that. Essentially the business now has suppliers or short-term creditors funding about 50% of its operations, which isn't ideal. Given it's pretty high ratio, we'd remind investors that having current liabilities at those levels can bring about some risks in certain businesses.

但是,記錄在案的是,該公司的流動負債在此期間顯著增加,因此我們將投資回報率的部分增長歸因於此。從本質上講,該企業現在有供應商或短期債權人爲其約50%的業務提供資金,這並不理想。鑑於其比率相當高,我們要提醒投資者,將流動負債保持在這些水平可能會給某些企業帶來一些風險。

The Bottom Line On Fortinet's ROCE

Fortinet 投資回報率的底線

All in all, it's terrific to see that Fortinet is reaping the rewards from prior investments and is growing its capital base. Since the stock has returned a staggering 301% to shareholders over the last five years, it looks like investors are recognizing these changes. Therefore, we think it would be worth your time to check if these trends are going to continue.

總而言之,看到Fortinet從先前的投資中獲得回報並正在擴大其資本基礎真是太棒了。由於該股在過去五年中向股東回報了驚人的301%,因此投資者似乎已經意識到了這些變化。因此,我們認爲值得您花時間檢查這些趨勢是否會持續下去。

Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 2 warning signs for Fortinet (of which 1 is significant!) that you should know about.

由於幾乎每家公司都面臨一些風險,因此值得了解它們是什麼,我們已經發現了Fortinet的2個警告信號(其中1個很重要!)你應該知道的。

If you'd like to see other companies earning high returns, check out our free list of companies earning high returns with solid balance sheets here.

如果您想看到其他公司獲得高回報,請在此處查看我們的免費高回報且資產負債表穩健的公司名單。

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。
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