Returns On Capital At Moog (NYSE:MOG.A) Have Hit The Brakes
Returns On Capital At Moog (NYSE:MOG.A) Have Hit The Brakes
What trends should we look for it we want to identify stocks that can 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. That's why when we briefly looked at Moog's (NYSE:MOG.A) ROCE trend, we were pretty happy with what we saw.
如果我們想要找到能夠長期倍增價值的股票,我們應該關注哪些趨勢呢?理想情況下,一個企業應該展現出兩個趨勢;首先是不斷增長的資本使用回報率(ROCE),其次是不斷增加的資本使用量。這表明這是一個複利機器,能夠持續將收益再投資到業務中,產生更高的回報。這就是爲什麼當我們簡要查看了Moog(紐交所:MOG.A)的ROCE趨勢時,我們對所看到的內容感到非常滿意。
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 Moog:
如果您以前沒有使用ROCE,它衡量了公司從實際投入的資本中所獲得的「回報」(稅前利潤)。分析師使用以下公式來計算Moog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。
0.13 = US$388m ÷ (US$4.1b - US$988m) (Based on the trailing twelve months to June 2024).
0.13 = 3.88億美元 ÷ (410億美元 - 9.88億美元)(基於截至2024年6月的過去十二個月)。
Therefore, Moog has an ROCE of 13%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Aerospace & Defense industry average of 11%.
因此,Moog的ROCE爲13%。從絕對值來看,這是一個相當正常的回報,與航天與國防行業的平均水平11%相當接近。
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Above you can see how the current ROCE for Moog 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 Moog .
上面你可以看到當前Moog的ROCE與之前資本回報率的比較,但過去的數據只能告訴你一部分。如果你想知道分析師對未來的預測,你應該查看我們免費的Moog分析師報告。
So How Is Moog's ROCE Trending?
所以Moog的ROCE趨勢如何?
While the returns on capital are good, they haven't moved much. The company has consistently earned 13% for the last five years, and the capital employed within the business has risen 29% in that time. 13% is a pretty standard return, and it provides some comfort knowing that Moog has consistently earned this amount. Stable returns in this ballpark can be unexciting, but if they can be maintained over the long run, they often provide nice rewards to shareholders.
雖然資本回報率不錯,但沒有太大變動。在過去的五年中,該公司的回報率始終爲13%,而業務中所用的資本在這段時間內增長了29%。13%是一個相當標準的回報率,知道Moog始終能夠保持這個水平可以帶來一些安慰。這個水平上也許不太令人激動,但如果能夠持續經營下去,通常會給股東帶來不錯的回報。
The Key Takeaway
重要提示
In the end, Moog has proven its ability to adequately reinvest capital at good rates of return. On top of that, the stock has rewarded shareholders with a remarkable 122% return to those who've held over the last five years. So while the positive underlying trends may be accounted for by investors, we still think this stock is worth looking into further.
最終,Moog證明了其能夠以良好的回報率充分再投資資本的能力。除此之外,股票還爲那些過去五年一直持有的股東帶來了驚人的122%回報。所以儘管積極的潛在趨勢可能已經被投資者考慮進去了,但我們仍然認爲這個股票值得進一步研究。
On a separate note, we've found 1 warning sign for Moog you'll probably want to know about.
另外,我們發現了Moog的一個警示信號,你可能想知道。
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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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。
譯文內容由第三人軟體翻譯。