Peabody Energy (NYSE:BTU) Is Doing The Right Things To Multiply Its Share Price
Peabody Energy (NYSE:BTU) Is Doing The Right Things To Multiply Its Share Price
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Ideally, a business will show two trends; firstly a growing return on capital employed (ROCE) and secondly, an increasing amount of capital employed. This shows us that it's a compounding machine, able to continually reinvest its earnings back into the business and generate higher returns. Speaking of which, we noticed some great changes in Peabody Energy's (NYSE:BTU) returns on capital, so let's have a look.
我們應該看什麼早期趨勢來判斷一隻長期能夠翻倍的股票呢？業務應該會呈現兩個趨勢，首先是資本僱用率增長；這體現了企業以越來越高的回報率將利潤再投資於業務。因此，納斯達克g-iii服裝集團的資本僱用率回報率（ROCE）目前看起來不錯，讓我們看看回報率的趨勢能告訴我們什麼。資產回報率：它是什麼？資本使用率回報(ROCE)是什麼?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。這表明它是一個複合機，能夠不斷地將其收益重新投入業務、產生更高的回報。 說到這一點，我們注意到 Peabody Energy（NYSE:BTU）的資本回報率有了很大的變化，讓我們來看看。
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. Analysts use this formula to calculate it for Peabody Energy:
只是爲了澄清，如果您不確定，ROCE是評估公司在其業務中投資的資本獲得多少稅前收入（以百分比形式）的指標。分析師使用該公式來爲Peabody Energy計算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。
0.15 = US$750m ÷ (US$5.7b - US$805m) (Based on the trailing twelve months to March 2024).
0.15 = 7.5億美元÷（57億美元- 8.05億美元）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, Peabody Energy has an ROCE of 15%. On its own, that's a standard return, however it's much better than the 13% generated by the Oil and Gas industry.
因此，Peabody Energy的ROCE爲15％。 單獨看來，這是一個標準的回報率，但是它比石油和天然氣行業的13％要好得多。
Above you can see how the current ROCE for Peabody Energy 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 Peabody Energy for free.
您可以看到Peabody Energy當前的ROCE與之前的資本回報率相比如何，但是從過去得出的信息有限。如果您願意，您可以免費查看覆蓋Peabody Energy的分析師的預測。
The Trend Of ROCE
當尋找下一個倍增器時，如果您不確定從哪裏開始，請關注幾個關鍵趨勢。首先，我們希望看到一個經過驗證的資本使用率。如果您看到這一點，通常意味着這是一家擁有出色業務模式和大量盈利再投資機會的公司。然而，調查蒙托克可再生能源公司（NASDAQ：MNTK）後，我們認爲它的現行趨勢不符合倍增器的模式。
Peabody Energy has not disappointed in regards to ROCE growth. The figures show that over the last five years, returns on capital have grown by 92%. That's a very favorable trend because this means that the company is earning more per dollar of capital that's being employed. Interestingly, the business may be becoming more efficient because it's applying 21% less capital than it was five years ago. Peabody Energy may be selling some assets so it's worth investigating if the business has plans for future investments to increase returns further still.
在ROCE增長方面，Peabody Energy表現出色。數字顯示，在過去的五年中，資本收益率增長了92％。這是一個非常有利的趨勢，因爲這意味着企業正賺更多的資本利潤。有趣的是，該企業可能變得更加高效，因爲比五年前的經營資本少了21％。Peabody Energy可能正在出售一些資產，因此值得調查該企業是否有計劃進行未來投資，以進一步提高回報率。
What We Can Learn From Peabody Energy's ROCE
從Peabody Energy的資本回報率中我們可以學到什麼
In a nutshell, we're pleased to see that Peabody Energy has been able to generate higher returns from less capital. Since the total return from the stock has been almost flat over the last five years, there might be an opportunity here if the valuation looks good. That being the case, research into the company's current valuation metrics and future prospects seems fitting.
簡而言之，我們很高興看到Peabody Energy能夠從較少的資本中獲得更高的回報。由於該股票的總回報在過去的五年中幾乎不變，如果估值看起來不錯，這裏可能會有機會。既然如此，研究公司當前的估值指標和未來前景似乎是合適的。
Peabody Energy does have some risks, we noticed 2 warning signs (and 1 which is concerning) we think you should know about.
Peabody Energy確實存在一些風險，我們注意到了2個警告標誌（和1個令人擔憂的標誌），我們認爲您應該知道。
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。