Returns At CMS Energy (NYSE:CMS) Appear To Be Weighed Down
Returns At CMS Energy (NYSE:CMS) Appear To Be Weighed Down
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look 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. However, after briefly looking over the numbers, we don't think CMS Energy (NYSE:CMS) has the makings of a multi-bagger going forward, but let's have a look at why that may be.
如果我們想找到一隻長期內可能會大幅增長的股票,我們應該關注哪些潛在趨勢呢?首先,我們希望確定一個增長的資本使用回報率(ROCE),然後在此基礎上,一個不斷增長的資本使用基礎。基本上,這意味着公司具有盈利的計劃,可以持續投資,這是一個複合機器的特徵。然而,在簡要瀏覽數據後,我們認爲康哲藥業(紐交所:cms能源)未來可能不具備成爲倍增股的條件,不過,讓我們來看看可能的原因。
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。
For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. To calculate this metric for CMS Energy, this is the formula:
對於那些不確定什麼是ROCE的人,它衡量了一家公司可以從其業務中使用的資本產生的稅前利潤數量。要爲康哲藥業計算這個指標,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。
0.05 = US$1.6b ÷ (US$35b - US$2.2b) (Based on the trailing twelve months to September 2024).
0.05 = 16億美元 ÷ (350億美元 - 22億美元)(基於截至2024年9月的過去十二個月)。
Thus, CMS Energy has an ROCE of 5.0%. Even though it's in line with the industry average of 5.1%, it's still a low return by itself.
因此,康哲藥業的ROCE爲5.0%。即使它與行業平均水平5.1%相符,但單獨來看,這仍然是一個較低的回報。
Above you can see how the current ROCE for CMS Energy compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering CMS Energy for free.
上面您可以看到CMS能源的當前ROCE與其過去資本回報率的對比,但過去並不能提供太多信息。如果您願意,您可以免費查看覆蓋CMS能源的分析師的預測。
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。
The returns on capital haven't changed much for CMS Energy in recent years. Over the past five years, ROCE has remained relatively flat at around 5.0% and the business has deployed 37% more capital into its operations. This poor ROCE doesn't inspire confidence right now, and with the increase in capital employed, it's evident that the business isn't deploying the funds into high return investments.
CMS能源近年來資本回報率並沒有太多變化。在過去五年裏,ROCE保持在大約5.0%左右,並且業務將更多資本投入運營中。這種糟糕的ROCE目前並不令人信服,隨着資本投入的增加,很明顯業務並未將資金投入高回報投資中。
Our Take On CMS Energy's ROCE
我們對CMS能源的ROCE看法
Long story short, while CMS Energy has been reinvesting its capital, the returns that it's generating haven't increased. Unsurprisingly, the stock has only gained 32% over the last five years, which potentially indicates that investors are accounting for this going forward. As a result, if you're hunting for a multi-bagger, we think you'd have more luck elsewhere.
長話短說,儘管CMS能源一直在重新投資資本,但其產生的回報並沒有增加。毫不奇怪,該股過去五年僅上漲了32%,這可能表示投資者正在預期未來情況。因此,如果您正在尋找翻倍以上收益的股票,我們認爲您在其他地方可能更有運氣。
Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 3 warning signs for CMS Energy (of which 1 doesn't sit too well with us!) that you should know about.
由於幾乎每家公司都面臨一些風險,了解這些風險是值得的,我們發現了CMS能源的3個警示信號(其中1個對我們而言不太好!)您應當了解。
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。
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