Sigma Lithium (NASDAQ:SGML) Shareholders Will Want The ROCE Trajectory To Continue
Sigma Lithium (NASDAQ:SGML) Shareholders Will Want The ROCE Trajectory To Continue
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? 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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Speaking of which, we noticed some great changes in Sigma Lithium's (NASDAQ:SGML) returns on capital, so let's have a look.
你知道一些金融指標能夠提供一個潛在的多倍賺錢機會的線索嗎？一種常見的方法是試圖尋找一家公司，它具有能夠投入充足的利潤回流的優秀商業模式。當我們看到深圳市力合科創（SZSE：002243）及其股本回報率趨勢時，我們並不是完全滿意的。什麼是資本僱用回報率（ROCE）？ROCE是一個企業年度稅前利潤（其回報）與企業資本僱用之間的比率。在 Enphase Energy 的計算公式是：資本僱用回報率=利息和稅前收益（EBIT）÷（資產總額-流動負債）。所以，Enphase Energy 的資本僱用回報率爲9.9%。單獨來看，這是一個較低的資本回報率，但它與行業平均回報率相當。以上你可以看到，Enphase Energy 的當前資本僱用回報率與之前的回報率相比如何，但從過去只能知道這麼多。如果你想看看分析師對未來的預測，你應該查看我們免費提供的 Enphase Energy 分析師報告。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。簡而言之，這些類型的企業是複合式的機器，意味着它們不斷地以越來越高的回報率重新投資其收益。說到這一點，我們注意到 Sigma Lithium（納斯達克代碼：SGML）的資本回報率有了很大的變化，讓我們來看看吧。
What Is Return On Capital Employed (ROCE)?
我們對 Enphase Energy 的資本僱用回報率的看法：正如我們上面看到的，Enphase Energy 的資本回報率沒有提高，但它正在重新投資於業務。投資者必須認爲未來會有更好的前景，因爲股票表現良好，使持股五年以上的股東獲得了 690% 的收益。最終，如果基本趨勢持續存在，我們不會對它成爲一隻多頭股持有期很久很有信心。
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Sigma Lithium is:
如果您以前沒有接觸過 ROCE，它是一種衡量公司從其業務中使用的資金中產生的“回報”（稅前利潤）的指標。Sigma Lithium的計算公式如下：
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。
0.033 = CA$12m ÷ (CA$581m - CA$222m) (Based on the trailing twelve months to March 2024).
0.033 = CA$12m ÷（CA$581m - CA$222m）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。.
So, Sigma Lithium has an ROCE of 3.3%. In absolute terms, that's a low return and it also under-performs the Metals and Mining industry average of 8.9%.
所以，Sigma Lithium的 ROCE 是 3.3%。在絕對值上，這是一個很低的回報率，它也低於貴金屬和礦業行業的平均水平，後者爲 8.9%。
Above you can see how the current ROCE for Sigma Lithium 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 Sigma Lithium for free.
您可以看到 Sigma Lithium 目前資本回報率與其過去的資本回報率相比如何，但您只能從過去了解有限的信息。如果您願意，您可以免費查看覆蓋 Sigma Lithium 的分析師的預測。
So How Is Sigma Lithium's ROCE Trending?
那麼 Sigma Lithium 的 ROCE 趨勢如何？
The fact that Sigma Lithium is now generating some pre-tax profits from its prior investments is very encouraging. About five years ago the company was generating losses but things have turned around because it's now earning 3.3% on its capital. In addition to that, Sigma Lithium is employing 2,917% more capital than previously which is expected of a company that's trying to break into profitability. This can indicate that there's plenty of opportunities to invest capital internally and at ever higher rates, both common traits of a multi-bagger.
Sigma Lithium 現在從其以前的投資中獲得一些稅前利潤，這是非常令人鼓舞的。大約五年前，該公司一直虧損，但情況已經好轉，因爲它現在在其資本上獲得了 3.3% 的回報率。此外，Sigma Lithium 使用的資本比以前增加了 2,917%，這是一家試圖進入盈利狀況的公司所期望的。這可能表明公司有充足的內部資本投資機會，以及不斷提高的回報率，這些都是多倍增長的共同特徵。
In Conclusion...
最後，同等資本下回報率較低的趨勢通常不是我們關注創業板股票的最佳信號。由於這些發展進行良好，因此投資者不太可能表現友好。自五年前以來，該股下跌了32%。除非這些指標朝着更積極的軌跡轉變，否則我們將繼續尋找其他股票。
Long story short, we're delighted to see that Sigma Lithium's reinvestment activities have paid off and the company is now profitable. Since the stock has returned a staggering 989% to shareholders over the last five years, it looks like investors are recognizing these changes. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.
長話短說，我們很高興看到 Sigma Lithium 的再投資活動取得了成功，公司現在變得盈利。由於股票在過去五年中爲股東帶來了驚人的 989% 的回報，看來投資者正在認識到這些變化。因此，鑑於該股票已經證明具有有前途的趨勢，值得進一步研究該公司以確定這些趨勢是否可能持續。
Sigma Lithium does have some risks though, and we've spotted 1 warning sign for Sigma Lithium that you might be interested in.
然而，Sigma Lithium確實存在一些風險，我們已經發現了1個關於Sigma Lithium的警告標誌，您可能會感興趣。
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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譯文內容由第三人軟體翻譯。