We Like These Underlying Return On Capital Trends At Covenant Logistics Group (NYSE:CVLG)
We Like These Underlying Return On Capital Trends At Covenant Logistics Group (NYSE:CVLG)
0.076 = US$62m ÷ (US$1.0b - US$195m) To find a multi-bagger stock, what are the underlying trends we should look for in a business? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. With that in mind, we've noticed some promising trends at Covenant Logistics Group (NYSE:CVLG) so let's look a bit deeper.
要找到一支潛力股票，我們應該關注業務中的潛在趨勢。在一個完美的世界裏，我們希望看到一家公司將更多資本投入到業務中，而且理想情況下，從該資本獲得的回報也在增加。如果您看到這一點，通常意味着這是一家擁有出色商業模式和許多有利可圖的再投資機會的公司。考慮到這一點，我們注意到covenant logistics集團（紐交所: CVLG）出現了一些有前途的趨勢，讓我們深入了解一下。
Return On Capital Employed (ROCE): What Is It?
資本利用率（ROCE）是什麼？
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Covenant Logistics Group is:
對於那些不了解的人，ROCE是一個公司年度稅前利潤（其回報）相對於業務中使用的資本的衡量標準。 covenant logistics集團的此計算公式爲：
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
資本利用率 = 利息和稅前利潤（EBIT） ÷ （總資產 - 流動負債）
0.076 = US$62m ÷ (US$1.0b - US$195m) (Based on the trailing twelve months to September 2024).
0.076 = 6200萬美元 ÷（10億美元 - 1.95億美元）（截至2024年9月的過去十二個月）。
Thus, Covenant Logistics Group has an ROCE of 7.6%. In absolute terms, that's a low return but it's around the Transportation industry average of 7.5%.
因此，covenant logistics集團的ROCE爲7.6%。從絕對角度來看，這是一個較低的回報，但約等於運輸行業平均水平7.5%。
In the above chart we have measured Covenant Logistics Group's prior ROCE against its prior performance, but the future is arguably more important. If you're interested, you can view the analysts predictions in our free analyst report for Covenant Logistics Group .
在上面的圖表中，我們已經測量了covenant logistics集團先前的ROCE與其先前的業績，但未來可以說更重要。如果您感興趣，您可以在我們的免費covenant logistics集團分析師報告中查看分析師的預測。
What The Trend Of ROCE Can Tell Us
儘管如此，當我們看 enphase energy (納斯達克股票代碼：ENPH) 的時候，它似乎並沒有完全符合這些要求。
Covenant Logistics Group's ROCE growth is quite impressive. The figures show that over the last five years, ROCE has grown 100% whilst employing roughly the same amount of capital. So it's likely that the business is now reaping the full benefits of its past investments, since the capital employed hasn't changed considerably. The company is doing well in that sense, and it's worth investigating what the management team has planned for long term growth prospects.
covenant logistics集團的ROCE增長相當令人印象深刻。數據顯示，在過去五年中，儘管資本規模幾乎相同，ROCE增長了100%。因此，很可能業務現在正在收穫其過去投資的全部好處，因爲資本投入的變化並不顯著。在這方面，該公司表現不錯，值得研究管理團隊對長期增長前景的計劃。
In Conclusion...
最後，同等資本下回報率較低的趨勢通常不是我們關注創業板股票的最佳信號。由於這些發展進行良好，因此投資者不太可能表現友好。自五年前以來，該股下跌了32%。除非這些指標朝着更積極的軌跡轉變，否則我們將繼續尋找其他股票。
To bring it all together, Covenant Logistics Group has done well to increase the returns it's generating from its capital employed. Since the stock has returned a staggering 289% to shareholders over the last five years, it looks like investors are recognizing these changes. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
綜上所述，covenant logistics集團做得很好，增加了從其資本投入中獲得的回報。由於過去五年股票給股東帶來了驚人的289%回報，看起來投資者正在意識到這些變化。話雖如此，我們仍認爲這些有前景的基本面意味着公司值得進一步的盡職調查。
Since virtually every company faces some risks, it's worth knowing what they are, and we've spotted 2 warning signs for Covenant Logistics Group (of which 1 makes us a bit uncomfortable!) 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，我們已經發現covenant logistics集團存在 2 個警告信號（其中 1 個讓我們有些不安！），您應該了解。
While Covenant Logistics Group 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covenant logistics集團目前可能沒有賺取最高的回報，但我們已經編制了一份目前賺取超過25%股東權益回報的公司名單。查看這份免費名單。
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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論，使用公正的方法，我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議，並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意，我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。
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