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Many Would Be Envious Of Fastenal's (NASDAQ:FAST) Excellent Returns On Capital

Many Would Be Envious Of Fastenal's (NASDAQ:FAST) Excellent Returns On Capital

許多人會對快扣(納斯達克:FAST)出色的資本回報感到羨慕
Simply Wall St ·  01/13 13:32

What are the early trends we should look for to identify a stock that could multiply in value over the long term? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Ergo, when we looked at the ROCE trends at Fastenal (NASDAQ:FAST), we liked what we saw.

我們應該關注哪些早期趨勢,以識別一個可能在長期內增值的股票?除了其他因素外,我們希望看到兩點;首先是資本回報率(ROCE)的增長,其次是公司所使用資本的擴張。最終,這表明這是一家正在以不斷提高回報率重新投資利潤的企業。因此,當我們查看快扣(納斯達克:FAST)的ROCE趨勢時,我們對看到的十分滿意。

What Is Return On Capital Employed (ROCE)?

什麼是資本回報率(ROCE)?

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 Fastenal, this is the formula:

如果您之前沒有使用過ROCE,它是衡量公司從其業務中所使用資本產生的「回報」(稅前利潤)。要計算快扣的這個指標,公式如下:

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)

0.38 = US$1.5b ÷ (US$4.7b - US$742m) (Based on the trailing twelve months to September 2024).

0.38 = 15億美金 ÷ (47億美金 - 742百萬美金) (基於截至2024年9月的十二個月的數據顯示)。

Thus, Fastenal has an ROCE of 38%. That's a fantastic return and not only that, it outpaces the average of 12% earned by companies in a similar industry.

因此,快扣的ROCE爲38%。這是一個極好的回報,不僅如此,它超出了同一行業公司12%的平均水平。

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NasdaqGS:FAST Return on Capital Employed January 13th 2025
納斯達克GS:FASt 資本回報率 2025年1月13日

In the above chart we have measured Fastenal's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for Fastenal .

在上面的圖表中,我們比較了快扣之前的資本回報率(ROCE)和其先前的表現,但未來可能更爲重要。如果您想查看分析師對未來的預測,可以查看我們關於快扣的免費分析師報告。

What Can We Tell From Fastenal's ROCE Trend?

我們可以從快扣的資本回報率趨勢中得出什麼?

We'd be pretty happy with returns on capital like Fastenal. The company has employed 23% more capital in the last five years, and the returns on that capital have remained stable at 38%. Returns like this are the envy of most businesses and given it has repeatedly reinvested at these rates, that's even better. If these trends can continue, it wouldn't surprise us if the company became a multi-bagger.

對於快扣這樣的資本回報率,我們會感到非常滿意。公司在過去五年中投入了23%的資本,而這些資本的回報率穩定在38%。這樣的回報令人羨慕,鑑於它已反覆以這樣的比率再投資,更是值得稱讚。如果這些趨勢持續下去,我們不會感到驚訝,如果公司成爲多倍贏家。

The Bottom Line

總結

In summary, we're delighted to see that Fastenal has been compounding returns by reinvesting at consistently high rates of return, as these are common traits of a multi-bagger. And long term investors would be thrilled with the 122% return they've received over the last five years. So while investors seem to be recognizing these promising trends, we still believe the stock deserves further research.

總的來說,我們很高興看到快扣通過在持續高回報率下再投資來複利回報,這些都是多倍贏家的常見特徵。長期投資者會對過去五年獲得的122%的回報感到興奮。因此,雖然投資者似乎正在認可這些有前景的趨勢,但我們仍然認爲這隻股票值得進一步研究。

On the other side of ROCE, we have to consider valuation. That's why we have a FREE intrinsic value estimation for FAST on our platform that is definitely worth checking out.

另一方面,考慮資本回報率(ROCE),我們還必須考慮估值。這就是爲什麼我們在平台上提供快扣的免費內在價值評估,非常值得查看。

If you want to search for more stocks that have been earning high returns, check out this free list of stocks with solid balance sheets that are also earning high returns on equity.

如果你想尋找更多高回報的股票,可以查看這份免費列表,這些股票的資產負債表穩健,同時股本回報率也很高。

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.

對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
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。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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