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The Returns On Capital At Bumble (NASDAQ:BMBL) Don't Inspire Confidence

The Returns On Capital At Bumble (NASDAQ:BMBL) Don't Inspire Confidence

Bumble(納斯達克:BMBL)的資本回報率並沒有讓人信心滿滿
Simply Wall St ·  10/16 22:52

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an eye out for. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing 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. In light of that, when we looked at Bumble (NASDAQ:BMBL) and its ROCE trend, we weren't exactly thrilled.

如果您不確定從哪裏開始尋找下一個翻倍股,有一些關鍵趨勢您應該密切關注。首先,我們希望確定不斷增長的資本使用回報率(ROCE),然後緊隨其後的是不斷增長的資本使用基數。基本上這意味着公司有利潤豐厚的舉措,可以繼續投資,這是複利機器的特徵。鑑於此,當我們查看Bumble(納斯達克:BMBL)及其ROCE趨勢時,並沒有特別激動。

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 Bumble:

如果您以前沒有接觸過ROCE,它衡量公司從在業務中使用的資本中獲得的「回報」(稅前利潤)。分析師使用此公式爲Bumble計算:

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。

0.032 = US$108m ÷ (US$3.5b - US$176m) (Based on the trailing twelve months to June 2024).

0.032 = 1.08億美元 ÷(35億美元 - 1.76億美元)(基於2024年6月公佈的過去十二個月)。

So, Bumble has an ROCE of 3.2%. In absolute terms, that's a low return and it also under-performs the Interactive Media and Services industry average of 6.3%.

因此,Bumble的ROCE爲3.2%。就絕對值而言,這是一個較低的回報,並且不及互動媒體和服務行業平均水平6.3%。

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NasdaqGS:BMBL Return on Capital Employed October 16th 2024
NasdaqGS:BMBL 資本使用回報率2024年10月16日

Above you can see how the current ROCE for Bumble 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 Bumble .

在這裏,您可以看到Bumble目前的資本回報率(ROCE)與其先前的資本回報率相比,但僅僅從過去的數據中能得出有限的信息。如果您想了解分析師對未來的預測,請查看我們爲Bumble提供的免費分析師報告。

So How Is Bumble's ROCE Trending?

那麼Bumble的ROCE趨勢如何?

In terms of Bumble's historical ROCE movements, the trend isn't fantastic. To be more specific, ROCE has fallen from 60% over the last five years. Although, given both revenue and the amount of assets employed in the business have increased, it could suggest the company is investing in growth, and the extra capital has led to a short-term reduction in ROCE. And if the increased capital generates additional returns, the business, and thus shareholders, will benefit in the long run.

就Bumble歷史上的ROCE變動而言,這個趨勢並不理想。具體來說,過去五年中ROCE已下降至60%。儘管營業收入和資產使用量都有所增加,這可能表明公司正在投資增長,而額外的資本導致了短期ROCE的下降。如果增加的資本帶來額外的回報,企業和股東將從中受益。

On a related note, Bumble has decreased its current liabilities to 5.0% of total assets. Considering it used to be 61%, that's a huge drop in that ratio and it would explain the decline in ROCE. Effectively this means their suppliers or short-term creditors are funding less of the business, which reduces some elements of risk. Since the business is basically funding more of its operations with it's own money, you could argue this has made the business less efficient at generating ROCE.

另外,Bumble將其流動負債降至總資產的5.0%。考慮到以前佔比爲61%,這個比例的大幅下降解釋了ROCE的下降。實際上,這意味着他們的供應商或短期債權人爲企業提供的資金較少,減少了某些風險因素。由於企業基本上正在用自己的資金資助其更多的運營活動,您可以認爲這使得企業在產生ROCE方面效率降低。

What We Can Learn From Bumble's ROCE

我們從Bumble的ROCE中能學到什麼

While returns have fallen for Bumble in recent times, we're encouraged to see that sales are growing and that the business is reinvesting in its operations. Despite these promising trends, the stock has collapsed 87% over the last three years, so there could be other factors hurting the company's prospects. Therefore, we'd suggest researching the stock further to uncover more about the business.

儘管Bumble的回報近年來有所下降,我們看到銷售額增長並且企業正在對其業務進行再投資,這讓我們感到鼓舞。儘管存在這些有希望的趨勢,股價在過去三年中已經暴跌了87%,因此可能還有其他因素損害了公司的前景。因此,我們建議進一步研究這支股票,以更深入了解企業情況。

Like most companies, Bumble does come with some risks, and we've found 2 warning signs that you should be aware of.

與大多數公司一樣,Bumble 確實存在一些風險,我們發現了2個警示信號,您應該注意。

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。

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。

譯文內容由第三人軟體翻譯。


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