The Return Trends At ServiceNow (NYSE:NOW) Look Promising
The Return Trends At ServiceNow (NYSE:NOW) Look Promising
There are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing 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. With that in mind, we've noticed some promising trends at ServiceNow (NYSE:NOW) so let's look a bit deeper.
如果我們想要識別下一個多倍回報的股票,有幾個關鍵趨勢需要關注。一個常見的方法是尋找那些資本回報率(ROCE)正在增長的公司,同時其所投入的資本也在增加。這表明它是一臺複合收益的機器,能夠不斷將收益再投資於業務中併產生更高的回報。考慮到這一點,我們注意到ServiceNow(紐交所:NOW)有一些令人鼓舞的趨勢,因此讓我們深入分析一下。
Understanding Return On Capital Employed (ROCE)
理解已投資資本回報率(ROCE)
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 ServiceNow, this is the formula:
對於那些不確定ROCE是什麼的人來說,它衡量的是公司從所投入的資本中可以產生多少稅前利潤。要計算ServiceNow的這個指標,公式是:
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)
0.11 = US$1.3b ÷ (US$18b - US$6.8b) (Based on the trailing twelve months to September 2024).
0.11 = 13億美元 ÷ (180億美元 - 68億美元) (基於截至2024年9月的過去12個月數據)。
So, ServiceNow has an ROCE of 11%. In absolute terms, that's a satisfactory return, but compared to the Software industry average of 8.8% it's much better.
因此,ServiceNow的資本回報率爲11%。從絕對值來看,這個回報是令人滿意的,但與軟體行業平均水平8.8%相比,它要好得多。
Above you can see how the current ROCE for ServiceNow 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 ServiceNow .
在上面,您可以看到ServiceNow當前的資本回報率(ROCE)與其過去的資本回報率相比的情況,但從過去的數據中只能了解這麼多。如果您想要了解分析師對未來的預測,可以查看我們關於ServiceNow的免費分析師報告。
What The Trend Of ROCE Can Tell Us
ROCE的趨勢可以告訴我們什麼
The trends we've noticed at ServiceNow are quite reassuring. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 11%. Basically the business is earning more per dollar of capital invested and in addition to that, 354% more capital is being employed now too. So we're very much inspired by what we're seeing at ServiceNow thanks to its ability to profitably reinvest capital.
我們在ServiceNow注意到的趨勢相當令人放心。這些數字表明,在過去五年中,使用的資本產生的回報顯著增長至11%。基本上,業務每投入一美元的資本所賺取的利潤更多,此外,目前使用的資本也增長了354%。因此,感謝ServiceNow能夠盈利性地再投資資本,我們對所看到的情況感到非常振奮。
In Conclusion...
結論...
In summary, it's great to see that ServiceNow can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. Since the stock has returned a staggering 286% 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.
總之,很高興看到ServiceNow能夠通過持續以不斷增加的回報率再投資資本來複合回報,因爲這些都是那些備受追捧的多倍贏家的關鍵因素之一。由於該股票在過去五年中爲股東帶來了驚人的286%的回報,看來投資者正在認可這些變化。不過,我們仍然認爲這些良好的基本面意味着該公司值得進一步的盡職調查。
On a separate note, we've found 2 warning signs for ServiceNow you'll probably want to know about.
另外,我們發現ServiceNow存在2個警示信號,您可能想要了解。
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.
對於喜歡投資於穩健公司的投資者,可以查看這個免費的穩健資產負債表和高股本回報率公司的列表。
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這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。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在提到的任何股票中均沒有持倉。
譯文內容由第三人軟體翻譯。