Returns On Capital Are A Standout For Ferrari (NYSE:RACE)
Returns On Capital Are A Standout For Ferrari (NYSE:RACE)
What trends should we look for it we want to identify stocks that can multiply in value over the long term? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. So when we looked at the ROCE trend of Ferrari (NYSE:RACE) we really liked what we saw.
如果我们想确定可以长期成倍增长的股票,我们应该寻找什么趋势?在一个完美的世界中,我们希望看到一家公司向其业务投入更多资本,理想情况下,从这些资本中获得的回报也在增加。如果你看到这一点,这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。因此,当我们研究法拉利(纽约证券交易所代码:RACE)的ROCE趋势时,我们真的很喜欢我们所看到的。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率(ROCE):这是什么?
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 Ferrari is:
对于那些不确定ROCE是什么的人,它衡量的是公司从其业务中使用的资本中可以产生的税前利润金额。法拉利的计算公式为:
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)
0.28 = €1.6b ÷ (€8.1b - €2.3b) (Based on the trailing twelve months to December 2023).
0.28 = 16亿欧元 ÷(81亿欧元-23亿欧元) (基于截至2023年12月的过去十二个月)。
Thus, Ferrari has an ROCE of 28%. In absolute terms that's a great return and it's even better than the Auto industry average of 10%.
因此,法拉利的投资回报率为28%。从绝对值来看,这是一个不错的回报,甚至比汽车行业10%的平均水平还要好。
Above you can see how the current ROCE for Ferrari compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for Ferrari .
上面你可以看到法拉利当前的投资回报率与其先前的资本回报率相比如何,但从过去可以看出来的只有那么多。如果您有兴趣,可以在我们的免费法拉利分析师报告中查看分析师的预测。
What Can We Tell From Ferrari's ROCE Trend?
我们可以从法拉利的ROCE趋势中分辨出什么?
We like the trends that we're seeing from Ferrari. The data shows that returns on capital have increased substantially over the last five years to 28%. Basically the business is earning more per dollar of capital invested and in addition to that, 62% more capital is being employed now too. So we're very much inspired by what we're seeing at Ferrari thanks to its ability to profitably reinvest capital.
我们喜欢从法拉利看到的趋势。数据显示,在过去五年中,资本回报率大幅上升至28%。基本上,该企业每投资1美元的资本就能获得更多的收入,除此之外,现在使用的资本也增加了62%。因此,我们在法拉利所看到的情况给我们带来了极大的启发,这要归功于它能够盈利地进行资本再投资。
The Bottom Line
底线
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what Ferrari has. And a remarkable 227% total return over the last five years tells us that investors are expecting more good things to come in the future. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.
一家资本回报率不断提高且能够持续进行自我再投资的公司是一个备受追捧的特征,而这正是法拉利所具备的。在过去五年中,227%的惊人总回报率告诉我们,投资者预计未来还会有更多好事发生。因此,鉴于该股已证明其趋势令人鼓舞,值得进一步研究该公司,看看这些趋势是否可能持续下去。
If you want to continue researching Ferrari, you might be interested to know about the 2 warning signs that our analysis has discovered.
如果你想继续研究法拉利,你可能有兴趣了解我们的分析发现的两个警告信号。
Ferrari is not the only stock earning high returns. If you'd like to see more, check out our free list of companies earning high returns on equity with solid fundamentals.
法拉利并不是唯一一只获得高回报的股票。如果您想了解更多,请查看我们的免费公司名单,列出了基本面稳健且具有高股本回报率的公司。
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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。