Returns Are Gaining Momentum At BJ's Wholesale Club Holdings (NYSE:BJ)
Returns Are Gaining Momentum At BJ's Wholesale Club Holdings (NYSE:BJ)
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll want to notice a trend of growing return on capital employed (ROCE) and alongside that, an expanding base of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. So on that note, BJ's Wholesale Club Holdings (NYSE:BJ) looks quite promising in regards to its trends of return on capital.
如果我們想找到一個潛在的翻倍機會，往往有潛在的趨勢可以提供線索。通常，我們將要注意資本投入增長的趨勢。最終，這表明這是一個正在以不斷增加的回報率再投資利潤的企業。話說回來，從我們對曼谷文華東方國際酒店（SGX：M04）的第一眼印象來看，我們並沒有因爲回報率的趨勢而感到激動，但讓我們深入了解一下吧。資產回報率：它是什麼？對於那些不知道ROCE是什麼的人，ROCE是一個公司每年稅前利潤（回報）與企業用於投資的資本關係的度量。在Elevance Health的計算公式如下：資產回報率 = 利息和所得稅前收益（EBIT）÷（總資產-流動負債）基本上這意味着一家公司擁有有利可圖的業務，可以繼續進行再投資，這是一個複利機器的特點。因此，在這方面，bj批發俱樂部（紐交所:BJ）看起來非常有前途，其資本回報率的趨勢非常有前途。
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。
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on BJ's Wholesale Club Holdings is:
對於那些不了解ROCE指標的人來說，它是衡量公司年利潤(回報)與業務中使用的資本相對應的指標。 BJ批發俱樂部控股公司的此項計算公式如下：
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。
0.18 = US$792m ÷ (US$6.8b - US$2.5b) (Based on the trailing twelve months to May 2024).
0.18 = 7.92億美元 ÷（68億美元 - 25億美元）（截至2024年5月的過去十二個月）.
So, BJ's Wholesale Club Holdings has an ROCE of 18%. On its own, that's a standard return, however it's much better than the 10% generated by the Consumer Retailing industry.
因此，bj批發俱樂部控股公司的ROCE爲18%。就其本身而言，這是一種標準的回報，但相對於消費零售行業所產生的10%要好得多。
Above you can see how the current ROCE for BJ's Wholesale Club 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 BJ's Wholesale Club Holdings .
上面你可以看到BJ批發俱樂部控股公司現在的ROCE與其以往的資本回報率相比如何，但你只能從過去看到有限的信息。如果你想看看分析師們對未來的預測，請查看我們免費的BJ批發俱樂部控股公司分析師報告。
What Does the ROCE Trend For BJ's Wholesale Club Holdings Tell Us?
bj批發俱樂部控股公司ROCE趨勢告訴我們什麼？
BJ's Wholesale Club Holdings is displaying some positive trends. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 18%. Basically the business is earning more per dollar of capital invested and in addition to that, 21% 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.
bj批發俱樂部控股公司顯示出一些積極的趨勢。數字顯示，在過去的五年中，投入資本所產生的回報率顯著增長至18%。基本上，該公司每投入一美元，就能創造更高的收益，此外，現在也投入了21%更多的資本。在正在增長的資本中增加回報率在複利機器中很常見，這就是爲什麼我們印象深刻的原因。
What We Can Learn From BJ's Wholesale Club Holdings' ROCE
我們可以從bj批發俱樂部控股公司的ROCE中學到什麼？
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 BJ's Wholesale Club Holdings has. Since the stock has returned a staggering 239% to shareholders over the last five years, it looks like investors are recognizing these changes. In light of that, we think it's worth looking further into this stock because if BJ's Wholesale Club Holdings can keep these trends up, it could have a bright future ahead.
一個不斷提高資本回報率並能不斷進行再投資的公司是一個非常受追捧的特點，而bj批發俱樂部控股公司就具備這種特點。由於該股在過去的五年中爲股東帶來了驚人的239％的回報，看起來投資者已經認識到這些變化。因此，我們認爲繼續關注這隻股票是值得的，因爲如果bj批發俱樂部控股公司能夠保持這些趨勢，它就有一個輝煌的明天。
One more thing, we've spotted 2 warning signs facing BJ's Wholesale Club Holdings that you might find interesting.
還有一件事，我們已經發現了帶有風險的2個警告，這對你可能會很有趣。
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
如果您想尋找財務狀況良好、回報卓越的實力強企業，可以免費查看以下公司列表。
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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。