BlueLinx Holdings (NYSE:BXC) Might Have The Makings Of A Multi-Bagger
BlueLinx Holdings (NYSE:BXC) Might Have The Makings Of A Multi-Bagger
What are the early trends we should look for to identify a stock that could multiply in value over the long term? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. So on that note, BlueLinx Holdings (NYSE:BXC) looks quite promising in regards to its trends of return on capital.
若要在長期內尋找股票的潛在收益，應注意以下早期趨勢：公司越願意投資其業務，同時從這些投資中獲得的回報也在增加。一般情況下，這意味着該公司具有出色的商業模式和豐富的盈利再投資機會。因此，在這方面，布魯林克斯（紐交所：BXC）在資本回報率方面呈現了令人期待的趨勢。
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。
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. To calculate this metric for BlueLinx Holdings, this is the formula:
爲幫助您更好理解，ROCE是一種通過衡量公司營業額中稅前利潤佔已投資業務資本的百分比來評估公司財務狀況的指標。計算布魯林克斯的該指標的公式如下：
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。
0.095 = US$128m ÷ (US$1.6b - US$249m) (Based on the trailing twelve months to March 2024).
0.095 = 1.28億美元 ÷ (16億美元 - 2.49億美元)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, BlueLinx Holdings has an ROCE of 9.5%. In absolute terms, that's a low return and it also under-performs the Trade Distributors industry average of 13%.
因此，布魯林克斯的ROCE爲9.5％。絕對來看，這是一個較低的回報率，並且低於行業板塊“Trade Distributors”的平均值13％。
In the above chart we have measured BlueLinx Holdings' prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for BlueLinx Holdings .
上面的表格中，我們比較了布魯林克斯以往的資本回報率與其以往的表現，但從未來的角度來看更加重要。如果您想看看分析師們預測的未來走勢，可以查看我們免費提供的布魯林克斯分析師報告。
What Does the ROCE Trend For BlueLinx Holdings Tell Us?
布魯林克斯的ROCE趨勢告訴我們什麼？
Even though ROCE is still low in absolute terms, it's good to see it's heading in the right direction. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 9.5%. Basically the business is earning more per dollar of capital invested and in addition to that, 55% more capital is being employed now too. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
儘管 ROCE 在絕對值上仍然偏低，但看到它正朝着正確的方向發展令人鼓舞。數字顯示，在過去的五年中，資本回報率已經顯着增長至9.5％。基本上，該公司每投資一美元就能獲得更多回報，此外，現在也使用了55％以上的更多資本。資本不斷增長的回報率提高是多重收益股票的普遍現象，這也是我們印象深刻的原因之一。
The Bottom Line
還有一件事需要注意的是，我們已經確定了上海醫藥的2個警告信號，了解這些信號應該成爲你的投資過程的一部分。
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what BlueLinx Holdings has. And a remarkable 372% 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 BlueLinx Holdings can keep these trends up, it could have a bright future ahead.
一個能夠增加資本回報並不斷自我再投資的公司是極受追捧的，而布魯林克斯正具有這一特質。在過去的五年裏，其總回報率達到了驚人的372％，這表明投資者預計未來將有更多好事發生。鑑於這一點，我們認爲進一步研究這隻股票是值得的，因爲如果布魯林克斯能保持這些趨勢，它的未來將非常輝煌。
One more thing, we've spotted 2 warning signs facing BlueLinx Holdings that you might find interesting.
還有一件事，我們已經發現布魯林克斯面臨着2個警告信號，或許您會感興趣。
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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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。