There's Been No Shortage Of Growth Recently For Tootsie Roll Industries' (NYSE:TR) Returns On Capital
There's Been No Shortage Of Growth Recently For Tootsie Roll Industries' (NYSE:TR) Returns On Capital
0.11 = US$117m ÷ (US$1.1b - US$87m) 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. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. Speaking of which, we noticed some great changes in Tootsie Roll Industries' (NYSE:TR) returns on capital, so let's have a look.
如果您不確定在尋找下一個潛在股票爆發之地時應該從哪裏開始，有一些關鍵趨勢是您應該密切關注的。 首先，我們希望確定資本僱用回報率（ROCE）正在增長，然後與此同時，資本僱用基數也在不斷增加。 簡而言之，這些類型的企業是複利機器，這意味着它們持續地以越來越高的回報率再投資其收益。 說到這一點，我們注意到Tootsie Roll Industries（紐交所:TR）的資本回報率出現了一些很大的變化，讓我們來看一看。
Return On Capital Employed (ROCE): What Is It?
資本僱用回報率（ROCE）是什麼？
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for Tootsie Roll Industries, this is the formula:
如果您以前沒有使用ROCE，它衡量的是公司從其業務中所僱用的資本產生的「回報」（稅前利潤）。 要爲Tootsie Roll Industries計算此指標，這是公式：
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。
0.11 = US$117m ÷ (US$1.1b - US$87m) (Based on the trailing twelve months to June 2024).
0.11 = 11700萬美元 ÷ （11億美元 - 8700萬美元）（截至2024年6月的過去十二個月）
Thus, Tootsie Roll Industries has an ROCE of 11%. By itself that's a normal return on capital and it's in line with the industry's average returns of 11%.
因此，Tootsie Roll Industries的ROCE爲11%。 單獨來看，這是一種正常的資本回報，與行業的平均回報率11%一致。
Historical performance is a great place to start when researching a stock so above you can see the gauge for Tootsie Roll Industries' ROCE against it's prior returns. If you want to delve into the historical earnings , check out these free graphs detailing revenue and cash flow performance of Tootsie Roll Industries.
歷史績效是研究股票的一個很好的起點，所以上面您可以看到Tootsie Roll Industries的ROCE與其之前收益的比較。如果您想深入了解歷史收益，請查看這些免費圖表，詳細說明Tootsie Roll Industries的營業收入和現金流績效。
What Can We Tell From Tootsie Roll Industries' ROCE Trend?
從Tootsie Roll Industries的ROCE趨勢中我們能得出什麼結論?
Tootsie Roll Industries is showing promise given that its ROCE is trending up and to the right. Looking at the data, we can see that even though capital employed in the business has remained relatively flat, the ROCE generated has risen by 37% over the last five years. So our take on this is that the business has increased efficiencies to generate these higher returns, all the while not needing to make any additional investments. The company is doing well in that sense, and it's worth investigating what the management team has planned for long term growth prospects.
Tootsie Roll Industries顯示出潛力，因爲其ROCE呈上升趨勢而且向右發展。從數據來看，儘管業務中使用的資本保持相對穩定，但過去五年中ROCE增長了37%。我們對此的看法是，業務已增加效率以產生更高的回報，同時無需進行任何額外的投資。在這方面公司表現不錯，值得研究管理團隊對長期增長前景的規劃。
What We Can Learn From Tootsie Roll Industries' ROCE
從Tootsie Roll Industries的ROCE我們能學到什麼
As discussed above, Tootsie Roll Industries appears to be getting more proficient at generating returns since capital employed has remained flat but earnings (before interest and tax) are up. Since the stock has only returned 6.2% to shareholders over the last five years, the promising fundamentals may not be recognized yet by investors. Given that, we'd look further into this stock in case it has more traits that could make it multiply in the long term.
如上所述，Tootsie Roll Industries似乎在提高產生回報的能力，因爲使用的資本保持不變，但收入（利息和稅前）有所增加。由於過去五年股票僅爲股東提供了6.2%的回報，這種有前途的基本面可能尚未被投資者認可。考慮到這一點，我們將進一步研究此股票，以查看是否具有更多可能在長期內增值的特徵。
While Tootsie Roll Industries looks impressive, no company is worth an infinite price. The intrinsic value infographic for TR helps visualize whether it is currently trading for a fair price.
雖然Tootsie Roll Industries看起來令人印象深刻，但沒有任何公司是無限價值的。TR的內在價值信息圖表有助於判斷其當前是否以公平的價格交易。
While Tootsie Roll Industries may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here.
儘管Tootsie Roll Industries當前可能並非賺取最高回報的公司，但我們已經列出了目前賺取25%以上股權回報的公司。請查看這個免費列表。
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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。
