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Diversey Holdings' (NASDAQ:DSEY) Returns On Capital Tell Us There Is Reason To Feel Uneasy
Diversey Holdings' (NASDAQ:DSEY) Returns On Capital Tell Us There Is Reason To Feel Uneasy
When we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics that can help spot trouble early. A business that's potentially in decline often shows two trends, a return on capital employed (ROCE) that's declining, and a base of capital employed that's also declining. Ultimately this means that the company is earning less per dollar invested and on top of that, it's shrinking its base of capital employed. In light of that, from a first glance at Diversey Holdings (NASDAQ:DSEY), we've spotted some signs that it could be struggling, so let's investigate.
What Is Return On Capital Employed (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. The formula for this calculation on Diversey Holdings is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.031 = US$104m ÷ (US$4.3b - US$934m) (Based on the trailing twelve months to June 2022).
Therefore, Diversey Holdings has an ROCE of 3.1%. Ultimately, that's a low return and it under-performs the Chemicals industry average of 12%.
Check out our latest analysis for Diversey Holdings
NasdaqGS:DSEY Return on Capital Employed September 13th 2022In the above chart we have measured Diversey Holdings' 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 report on analyst forecasts for the company.
What Does the ROCE Trend For Diversey Holdings Tell Us?
In terms of Diversey Holdings' historical ROCE movements, the trend doesn't inspire confidence. Unfortunately the returns on capital have diminished from the 4.6% that they were earning three years ago. And on the capital employed front, the business is utilizing roughly the same amount of capital as it was back then. Since returns are falling and the business has the same amount of assets employed, this can suggest it's a mature business that hasn't had much growth in the last three years. If these trends continue, we wouldn't expect Diversey Holdings to turn into a multi-bagger.
What We Can Learn From Diversey Holdings' ROCE
In the end, the trend of lower returns on the same amount of capital isn't typically an indication that we're looking at a growth stock. Investors haven't taken kindly to these developments, since the stock has declined 59% from where it was year ago. That being the case, unless the underlying trends revert to a more positive trajectory, we'd consider looking elsewhere.
If you'd like to know about the risks facing Diversey Holdings, we've discovered 1 warning sign that you should be aware of.
While Diversey Holdings isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
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.
当我们研究一家公司时,有时很难找到警告信号,但有一些财务指标可以帮助及早发现问题。一家可能正在衰落的企业通常会表现出两种趋势,一是退货在已动用资本(ROCE)方面,这是下降的,基地资本投入的比例也在下降。归根结底,这意味着该公司的每一美元投资收益都在减少,最重要的是,它正在收缩其使用的资本基础。有鉴于此,从第一眼看泰华施控股有限公司(纳斯达克:DSEY),我们发现了一些迹象表明它可能在苦苦挣扎,所以让我们调查一下。
什么是资本回报率(ROCE)?
如果你以前没有使用过ROCE,它衡量的是一家公司从业务资本中获得的“回报”(税前利润)。泰华施控股的这一计算公式是:
已动用资本回报率=息税前收益(EBIT)?(总资产-流动负债)
0.031美元=1.04亿美元(43亿美元-9.34亿美元)(根据截至2022年6月的往绩12个月计算).
所以呢,Diversey Holdings的净资产收益率为3.1%。归根结底,这是一个较低的回报率,表现低于化工行业12%的平均水平。
查看我们对Diversey Holdings的最新分析
NasdaqGS:2022年9月13日DSEY资本回报率在上图中,我们比较了Diversey Holdings之前的净资产收益率和之前的表现,但可以说,未来更重要。如果您感兴趣,您可以在我们的免费分析师对该公司的预测报告。
Diversey Holdings的ROCE趋势告诉我们什么?
就Diversey Holdings历史上的ROCE运动而言,这一趋势并没有激发人们的信心。不幸的是,与三年前4.6%的资本回报率相比,资本回报率有所下降。在已动用资本方面,该公司利用的资本与当时大致相同。由于回报率在下降,而该公司拥有相同数量的资产,这可能表明它是一家成熟的公司,在过去三年里没有太大的增长。如果这些趋势继续下去,我们预计泰华施控股不会变成一个多袋子的公司。
我们可以从Diversey Holdings的ROCE中学到什么
归根结底,同样数额的资本回报率下降的趋势,通常并不意味着我们看到的是一只成长型股票。投资者对这些动态并不看好,因为该公司股价较一年前下跌了59%。在这种情况下,除非潜在趋势恢复到更积极的轨道,否则我们会考虑将目光投向其他地方。
如果您想了解Diversey Holdings面临的风险,我们发现1个警告标志这一点你应该知道。
虽然Diversey Holdings并没有获得最高的回报,但看看这个免费资产负债表稳健、股本回报率高的公司名单。
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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