Investors Met With Slowing Returns on Capital At Cadre Holdings (NYSE:CDRE)
Investors Met With Slowing Returns on Capital At Cadre Holdings (NYSE:CDRE)
There are a few key trends to look for if we want to identify the next multi-bagger. 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. With that in mind, the ROCE of Cadre Holdings (NYSE:CDRE) looks decent, right now, so lets see what the trend of returns can tell us.
如果我們想找到下一個多倍增長股，就需要關注一些關鍵趨勢。其中，我們需要看到兩件事情，首先是在使用資本方面增長，這表明它是一個複利機器 ，能夠不斷將收益再投入業務中，從而產生更高的回報。考慮到這一點，我們注意到了DexCom（納斯達克：DXCM）正在出現一些有前途的趨勢，我們進行了更深入的研究。資產回報率：它是什麼？如果您不確定ROCE是什麼，它可以衡量公司能夠從其業務所僱用的資本產生多少稅前利潤。爲了計算V2X的這個指數，使用以下公式:0.054 = 1.24億美元÷（31億美元 - 8.53億美元）ROCE 趨勢可以告訴我們什麼？比起 Enphase Energy，有更好的資本回報率選擇。在過去的五年中，該公司增加了 1,306% 的資本，而該資本的回報率保持穩定在 9.9%。這樣差的回報率現在並不令人信服，而且隨着資本的增加，很明顯企業並沒有將資金投入到高回報的投資中。如果你看到一個企業的資本使用效率很高，通常意味着這是一個擁有出色業務模式和大量盈利再投資機會的公司。考慮到這一點，Cadre Holdings（紐交所：CDRE）的ROCE目前看起來相當不錯，那麼讓我們看看收益趨勢能告訴我們什麼。
Return On Capital Employed (ROCE): What Is It?
資本僱用回報率（ROCE）是什麼？
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 Cadre Holdings is:
對於那些不確定ROCE是什麼的人，它衡量了一個公司在其業務中使用的資本所能產生的稅前利潤金額。在Cadre Holdings的計算公式是：
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
資產僱用回報率（ROCE）是指企業利潤，即企業稅前利潤除以企業投入的總資本（負債加股權）。如果ROCE高於企業財務成本的承受能力，那麼企業就會創造出更多的價值。
0.13 = US$66m ÷ (US$599m - US$96m) (Based on the trailing twelve months to March 2024).
查看我們最新的凱德控股分析：在Elevance Health上，我們已經注意到的趨勢是相當令人放心的。數據顯示，過去五年資產回報率大幅提高至15％。投資所用資產的規模也增加了30％。這表明有很多機會進行內部資本投資，並以更高的速度不斷增長，這種組合在多倍增長方面很常見。.
Thus, Cadre Holdings has an ROCE of 13%. In absolute terms, that's a satisfactory return, but compared to the Aerospace & Defense industry average of 9.8% it's much better.
因此，Cadre Holdings的ROCE爲13%。在絕對值上，這是一個令人滿意的回報，但與航空與國防行業板塊的平均回報率9.8%相比，它要好得多。
Above you can see how the current ROCE for Cadre Holdings compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Cadre Holdings .
在上面的圖表中，您可以看到Cadre Holdings當前ROCE與其以往資本回報率的比較，但是從過去只能了解到有限的信息。如果您想了解分析師預測的未來情況，您應該查看我們爲Cadre Holdings準備的免費分析報告。
What Does the ROCE Trend For Cadre Holdings Tell Us?
Cadre Holdings的ROCE趨勢告訴我們什麼？
While the current returns on capital are decent, they haven't changed much. Over the past four years, ROCE has remained relatively flat at around 13% and the business has deployed 111% more capital into its operations. 13% is a pretty standard return, and it provides some comfort knowing that Cadre Holdings has consistently earned this amount. Stable returns in this ballpark can be unexciting, but if they can be maintained over the long run, they often provide nice rewards to shareholders.
雖然目前的資本回報率還不錯，但是它們並沒有發生太多變化。在過去的四年中，ROCE保持相對穩定，約爲13%，並且該業務將更多資本投入運行，增加了111％。13％是一個相當標準的回報率，這表明Cadre Holdings一直能夠獲得這樣的收益率。這個收益率雖然很平淡，但如果可以在長期內保持下去，它們通常會爲股東提供不錯的回報。
The Bottom Line On Cadre Holdings' ROCE
Cadre Holdings的ROCE的底線是？
The main thing to remember is that Cadre Holdings has proven its ability to continually reinvest at respectable rates of return. And since the stock has risen strongly over the last year, it appears the market might expect this trend to continue. So while investors seem to be recognizing these promising trends, we still believe the stock deserves further research.
要記住的主要事情是，Cadre Holdings已經證明了其能夠以可觀的回報率不斷地再投資。而且由於股票在過去一年中大幅上漲，市場可能預計這種趨勢將繼續。因此，儘管投資者似乎正在認識到這些有前途的趨勢，但我們仍然認爲該股票值得進一步研究。
On a separate note, we've found 3 warning signs for Cadre Holdings you'll probably want to know about.
另外，我們發現了Cadre Holdings的三個警告標誌，你可能想了解一下。
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.
Hao Tian International Construction Investment Group確實存在一些風險，我們已經發現了一條警示標誌，你可能會感興趣。對於那些喜歡投資於實力雄厚的公司的人，可以查看這個由財務狀況強大、股本回報率高的公司組成的免費列表。
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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.
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者，發送電子郵件至editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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譯文內容由第三人軟體翻譯。