Nextracker (NASDAQ:NXT) Is Achieving High Returns On Its Capital
Nextracker (NASDAQ:NXT) Is Achieving High Returns On Its Capital
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? 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. Speaking of which, we noticed some great changes in Nextracker's (NASDAQ:NXT) returns on capital, so let's have a look.
如果我們想找到一隻能在長期內成倍增長的股票，哪些潛在趨勢值得我們關注呢？通常情況下，我們希望注意到ROCE（資本僱用回報率）的增長趨勢，以及資本僱用的擴張基礎。這基本上意味着公司擁有有利可圖的項目，可以繼續重投資本，這是複合機的特徵。而且，我們注意到Nextracker（納斯達克：NXT）的資本回報有了很大的變化，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。
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 Nextracker:
如果您以前沒有使用過ROCE，它用於衡量公司從其業務中僱用的資本產生的“回報”（稅前利潤）。分析師使用該公式來計算Nextracker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。
0.36 = US$587m ÷ (US$2.5b - US$891m) (Based on the trailing twelve months to March 2024).
0.36= 5.87億美元÷（25億美元-8.91億美元）（基於截至2024年3月的過去十二個月）。因此，Nextracker的ROCE爲36％。從絕對值來看，這是很好的回報率，甚至超過了電氣行業的平均水平13％。
Therefore, Nextracker has an ROCE of 36%. In absolute terms that's a great return and it's even better than the Electrical industry average of 13%.
NasdaqGS：NXt資本僱用回報率於2024年7月19日。在上面的圖表中，我們測量了Nextracker以往的ROCE與以往表現的比較，但未來無疑更爲重要。如果您想了解分析師對未來的預測，請查看我們免費的Nextracker分析師報告。
In the above chart we have measured Nextracker's 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 Nextracker .
我們喜歡從Nextracker看到的趨勢。數據顯示，過去五年中，資本回報率大幅增加至36％。基本上，業務正在爲每投資一美元的資本賺取更多的利潤，此外，現在僱用的資本也增加了331％。在增加的資本回報率中，增加的資本被廣泛運用，這在多賺幾倍的投資者當中是很普遍的，這也是爲什麼我們感到印象深刻的原因。
How Are Returns Trending?
綜合上述，Cimpress非常有效地提高了其資本利用率所產生的回報。考慮到股票過去五年保持穩定，如果其他指標也不錯，則可能存在機會。因此，進一步研究這家公司並確定這些趨勢是否會持續是合理的。
We like the trends that we're seeing from Nextracker. The data shows that returns on capital have increased substantially over the last five years to 36%. Basically the business is earning more per dollar of capital invested and in addition to that, 331% 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.
總之，看到Nextracker能夠通過持續重投越來越高的回報率來複合回報，這是非常好的。因爲這些是那些廣受追捧的多賺幾倍股票的關鍵成分之一。而且，對於那些在過去一年持有股票並贏得了可觀的20％的人來說，可以認爲這些發展正開始得到應有的關注。話雖如此，我們仍然認爲這家公司有很好的基本面，值得進一步進行盡職調查。
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。
In summary, it's great to see that Nextracker can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. And with a respectable 20% awarded to those who held the stock over the last year, you could argue that these developments are starting to get the attention they deserve. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
另一方面，在考慮資本回報率的另一面，我們必須考慮估值。這就是爲什麼我們在我們的平台上提供免費的NXt內在價值估算，這絕對值得一看。
On the other side of ROCE, we have to consider valuation. That's why we have a FREE intrinsic value estimation for NXT on our platform that is definitely worth checking out.
如果我們想找到一隻能在長期內成倍增長的股票，哪些潛在趨勢值得我們關注呢？通常情況下，我們希望注意到ROCE（資本僱用回報率）的增長趨勢，以及資本僱用的擴張基礎。這基本上意味着公司擁有有利可圖的項目，可以繼續重投資本，這是複合機的特徵。而且，我們注意到Nextracker（納斯達克：NXT）的資本回報有了很大的變化，讓我們來看看。
High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.
高回報率是強勁表現的關鍵因素，因此請查看我們的免費股票列表，其中列出了盈利能力強、資產負債表堅實的股票。
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.
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@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
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。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。