Golden Ocean Group's (NASDAQ:GOGL) Returns On Capital Are Heading Higher
Golden Ocean Group's (NASDAQ:GOGL) Returns On Capital Are Heading Higher
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? 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. 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 Golden Ocean Group (NASDAQ:GOGL) so let's look a bit deeper.
如果我們想找到一隻長期可能翻倍的股票,應該關注哪些基本趨勢呢?一種常見的方法是尋找資本使用回報率(ROCE)在上升的公司,同時其使用的資本也在增加。如果你看到這種情況,通常意味着這是一傢具有良好業務模型和豐富盈利再投資機會的公司。因此,我們注意到金海洋集團(納斯達克:GOGL)的一些有前景的趨勢,接下來我們來深入分析一下。
Return On Capital Employed (ROCE): What Is It?
資本回報率(ROCE):它是什麼?
Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. To calculate this metric for Golden Ocean Group, this is the formula:
爲了澄清,如果你不確定,ROCE是評估公司在其投資的資本上賺取多少稅前收入(以百分比表示)的指標。要計算金海洋集團的這個指標,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)
0.11 = US$345m ÷ (US$3.4b - US$252m) (Based on the trailing twelve months to September 2024).
0.11 = 34500萬美金 ÷ (34億美金 - 2.52億美金)(基於截至2024年9月的過去十二個月數據)。
Thus, Golden Ocean Group has an ROCE of 11%. That's a relatively normal return on capital, and it's around the 9.7% generated by the Shipping industry.
因此,金海洋集團的ROCE爲11%。這是一個相對正常的資本回報率,接近航運行業產生的9.7%。
In the above chart we have measured Golden Ocean Group'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 Golden Ocean Group .
在上面的圖表中,我們比較了金海洋集團之前的資本回報率(ROCE)與其以往的表現,但未來的發展顯然更爲重要。如果您希望看到分析師對未來的預測,您應該查看我們爲金海洋集團提供的免費分析師報告。
What The Trend Of ROCE Can Tell Us
ROCE的趨勢可以告訴我們什麼
Golden Ocean Group is showing promise given that its ROCE is trending up and to the right. More specifically, while the company has kept capital employed relatively flat over the last five years, the ROCE has climbed 200% in that same time. 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.
考慮到金海洋集團的資本回報率正在向上右側趨勢發展,因此它顯示出很大的潛力。更具體地說,雖然該公司在過去五年中保持了相對平穩的資本使用,但在同一時期內其資本回報率已上升了200%。因此我們認爲,業務提高了效率以獲得更高的回報,同時不需要進行額外的投資。在這一點上,該公司做得很好,值得調查管理團隊對長期增長前景的計劃。
In Conclusion...
結論...
As discussed above, Golden Ocean Group 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 returned a staggering 241% 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.
如上所述,金海洋集團在產生回報方面似乎變得更加高效,因爲資本使用保持平穩,但收益(利息和稅前)卻在上升。由於在過去五年中,股票對股東的回報驚人地達到了241%,這看起來投資者正在認可這些變化。儘管如此,我們仍然認爲良好的基本面意味着公司值得進一步的盡職調查。
If you want to continue researching Golden Ocean Group, you might be interested to know about the 2 warning signs that our analysis has discovered.
如果您想繼續研究金海洋集團,您可能會感興趣的是,我們的分析發現了兩個警告信號。
While Golden Ocean 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.
儘管金海洋集團目前可能不是獲得最高回報的公司,但我們已經彙編了一份當前獲得超過25%股本回報的公司的名單。在這裏查看這份免費名單。
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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。
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