Cintas (NASDAQ:CTAS) Could Become A Multi-Bagger
Cintas (NASDAQ:CTAS) Could Become A Multi-Bagger
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base 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. And in light of that, the trends we're seeing at Cintas' (NASDAQ:CTAS) look very promising so lets take a look.
如果想要尋找潛在的股票賺多倍的機會，通常會有一些潛在趨勢可以提供一些線索。首先，我們需要確定一個不斷增長的資本僱用量。如果您看到這一點，通常意味着這是一家擁有出色的業務模式和豐富的有利可圖再投資機會的公司。所以當我們查看索尼克汽車（紐交所：SAH）和它的ROCE趨勢時，我們真的很喜歡我們所看到的。資產回報率：它是什麼？資本僱用回報率 (ROCE) 是一種早期趨勢，可以用來識別有可能在長期內翻倍增值的股票，然後在此基礎上，要尋找一個不斷增長的業務板塊和行業板塊。這告訴我們這是一臺複利機器，能夠不斷地將其收益再投入業務，從而產生更高的回報。因此，在這點上，Materialise (納斯達克:MTLS) 看起來相當有前途，因爲它在資本回報方面的趨勢相當不錯。資產回報率 = 利息和所得稅前收益（EBIT）÷（總資產-流動負債）如果你看到這句話，通常意味着這是一家商業模式非常好且有大量盈利再投資機會的公司。鑑於此，我們在Cintas（NASDAQ:CTAS）看到的趨勢非常有前途，讓我們來看看。
Understanding Return On Capital Employed (ROCE)
上面您可以看到蒙托克可再生能源現行ROCE與之前資本回報的比較，但過去只能知道這麼多。如果您感興趣，可以查看我們免費的蒙托克可再生能源分析師報告，了解分析師的預測。
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. Analysts use this formula to calculate it for Cintas:
如果您以前沒有使用過ROCE，它衡量的是公司從其業務中獲得的資本回報（稅前利潤）。分析師使用以下公式計算Cintas的ROCE：
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。
0.26 = US$2.0b ÷ (US$9.0b - US$1.3b) (Based on the trailing twelve months to February 2024).
0.26 = 美元20億 ÷ （美元90億 - 美元13億）（截至2024年2月的過去12個月）.
Thus, Cintas has an ROCE of 26%. That's a fantastic return and not only that, it outpaces the average of 9.8% earned by companies in a similar industry.
因此，Cintas的ROCE爲26％。這是一種非常出色的回報率，不僅如此，它還超過了同行業公司平均獲得的9.8％。
In the above chart we have measured Cintas' 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 Cintas .
在上圖中，我們衡量了Cintas之前的ROCE與之前的表現，但未來才是更重要的。如果您有興趣，可以查看我們爲Cintas提供的免費分析師報告中分析師的預測。
What Can We Tell From Cintas' ROCE Trend?
我們從Cintas的ROCE趨勢中可以得出什麼結論？
Cintas' ROCE growth is quite impressive. More specifically, while the company has kept capital employed relatively flat over the last five years, the ROCE has climbed 50% in that same time. 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.
Cintas的ROCE增長非常顯着。更具體地說，儘管公司在過去的五年中保持了相對穩定的資本投入，但同期ROCE增長了50％。基本上，業務從相同的資本中產生更高的回報，這證明了公司效率的提高。不過，值得深入探討的是，雖然業務效率提高是好事，但這也可能意味着將來內部投資於有機增長的領域不足。
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。
In summary, we're delighted to see that Cintas has been able to increase efficiencies and earn higher rates of return on the same amount of capital. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. In light of that, we think it's worth looking further into this stock because if Cintas can keep these trends up, it could have a bright future ahead.
總之，我們非常高興看到Cintas能夠提高效率並在同等資本下賺取更高的回報率。由於股票在過去的五年中表現傑出，這些趨勢已經被投資者計算進去。鑑於此，我們認爲值得進一步研究這支股票，因爲如果Cintas可以保持這些趨勢，它可能會有一個輝煌的未來。
Like most companies, Cintas does come with some risks, and we've found 1 warning sign that you should be aware of.
像大多數公司一樣，Cintas也存在一些風險，我們發現了1個警告信號，您應該注意。
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，請在此查看我們免費的高回報、堅實財務狀況的公司列表。
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
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@simplywallst.com。
譯文內容由第三人軟體翻譯。