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Synaptics' (NASDAQ:SYNA) Returns On Capital Are Heading Higher
Synaptics' (NASDAQ:SYNA) Returns On Capital Are Heading Higher
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base 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 Synaptics (NASDAQ:SYNA) so let's look a bit deeper.
Understanding Return On Capital Employed (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. The formula for this calculation on Synaptics is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.0066 = US$15m ÷ (US$2.5b - US$246m) (Based on the trailing twelve months to September 2023).
Therefore, Synaptics has an ROCE of 0.7%. Ultimately, that's a low return and it under-performs the Semiconductor industry average of 11%.
See our latest analysis for Synaptics
In the above chart we have measured Synaptics' 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.
The Trend Of ROCE
We're glad to see that ROCE is heading in the right direction, even if it is still low at the moment. Over the last five years, returns on capital employed have risen substantially to 0.7%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 92%. So we're very much inspired by what we're seeing at Synaptics thanks to its ability to profitably reinvest capital.
In another part of our analysis, we noticed that the company's ratio of current liabilities to total assets decreased to 9.6%, which broadly means the business is relying less on its suppliers or short-term creditors to fund its operations. This tells us that Synaptics has grown its returns without a reliance on increasing their current liabilities, which we're very happy with.
The Bottom Line
All in all, it's terrific to see that Synaptics is reaping the rewards from prior investments and is growing its capital base. And a remarkable 185% total return over the last five years tells us that investors are expecting more good things to come in the future. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
Synaptics does have some risks though, and we've spotted 1 warning sign for Synaptics that you might be interested in.
While Synaptics 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.
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.
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base 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 Synaptics (NASDAQ:SYNA) so let's look a bit deeper.
如果你正在寻找一款多功能装袋机,有几件事需要注意。首先,我们想找一个正在成长的 返回 关于已用资本(ROCE),然后除此之外,还不断增加 基础 的已动用资本。如果你看到这一点,那通常意味着它是一家拥有良好商业模式和大量盈利再投资机会的公司。考虑到这一点,我们已经注意到Synaptics(纳斯达克股票代码:SYNA)的一些有前途的趋势,所以让我们更深入地研究一下。
Understanding Return On Capital Employed (ROCE)
了解资本使用回报率 (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. The formula for this calculation on Synaptics is:
对于那些不确定ROCE是什么的人来说,它衡量的是公司从业务中使用的资本中可以产生的税前利润。在Synaptics上进行此计算的公式为:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已动用资本回报率 = 息税前收益 (EBIT) ¥(总资产-流动负债)
0.0066 = US$15m ÷ (US$2.5b - US$246m) (Based on the trailing twelve months to September 2023).
0.0066 = 1,500 万美元 ¥(25亿美元至2.46亿美元) (基于截至2023年9月的过去十二个月)。
Therefore, Synaptics has an ROCE of 0.7%. Ultimately, that's a low return and it under-performs the Semiconductor industry average of 11%.
因此,Synaptics的投资回报率为0.7%。归根结底,这是一个低回报,其表现低于半导体行业11%的平均水平。
See our latest analysis for Synaptics
查看我们对Synaptics的最新分析
In the above chart we have measured Synaptics' 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.
在上面的图表中,我们对Synaptics之前的投资回报率与之前的表现进行了比较,但可以说,未来更为重要。如果你有兴趣,可以在我们关于公司分析师预测的免费报告中查看分析师的预测。
The Trend Of ROCE
ROCE 的趋势
We're glad to see that ROCE is heading in the right direction, even if it is still low at the moment. Over the last five years, returns on capital employed have risen substantially to 0.7%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 92%. So we're very much inspired by what we're seeing at Synaptics thanks to its ability to profitably reinvest capital.
我们很高兴看到ROCE正朝着正确的方向前进,尽管目前仍处于低位。在过去五年中,资本使用回报率已大幅上升至0.7%。实际上,该公司每使用1美元的资本可以赚更多的钱,值得注意的是,资本金额也增加了92%。因此,由于Synaptics能够以盈利的方式进行资本再投资,因此我们深受Synaptics所看到的情况的启发。
In another part of our analysis, we noticed that the company's ratio of current liabilities to total assets decreased to 9.6%, which broadly means the business is relying less on its suppliers or short-term creditors to fund its operations. This tells us that Synaptics has grown its returns without a reliance on increasing their current liabilities, which we're very happy with.
在分析的另一部分中,我们注意到该公司的流动负债与总资产的比率降至9.6%,这从广义上意味着该企业减少了对供应商或短期债权人为其运营提供资金的依赖。这告诉我们,Synaptics在不依赖增加流动负债的情况下增加了回报,我们对此感到非常满意。
The Bottom Line
底线
All in all, it's terrific to see that Synaptics is reaping the rewards from prior investments and is growing its capital base. And a remarkable 185% total return over the last five years tells us that investors are expecting more good things to come in the future. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.
总而言之,看到Synaptics从先前的投资中获得回报并正在扩大其资本基础,真是太棒了。在过去五年中,185%的惊人总回报率告诉我们,投资者预计未来会有更多的好处。话虽如此,我们仍然认为良好的基本面意味着该公司值得进一步的尽职调查。
Synaptics does have some risks though, and we've spotted 1 warning sign for Synaptics that you might be interested in.
不过,Synaptics确实存在一些风险,我们发现了Synaptics的1个警告信号,你可能会对此感兴趣。
While Synaptics 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.
尽管Synaptics目前可能无法获得最高的回报,但我们编制了一份目前股本回报率超过25%的公司名单。在这里查看这个免费清单。
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.
对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。
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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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