If you're looking for a multi-bagger, there's a few things to keep an eye out for. Firstly, we'll want to see a proven return on capital employed (ROCE) that is increasing, and secondly, an expanding base of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. That's why when we briefly looked at Carlisle Companies' (NYSE:CSL) ROCE trend, we were pretty happy with what we saw.
Return On Capital Employed (ROCE): What Is It?
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 Carlisle Companies is:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.17 = US$1.1b ÷ (US$7.6b - US$1.3b) (Based on the trailing twelve months to June 2022).
Thus, Carlisle Companies has an ROCE of 17%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Building industry average of 14%.
Check out our latest analysis for Carlisle Companies
NYSE:CSL Return on Capital Employed September 20th 2022
In the above chart we have measured Carlisle Companies' 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 Carlisle Companies Tell Us?
While the current returns on capital are decent, they haven't changed much. The company has consistently earned 17% for the last five years, and the capital employed within the business has risen 74% in that time. 17% is a pretty standard return, and it provides some comfort knowing that Carlisle Companies has consistently earned this amount. Stable returns in this ballpark can be unexciting, but if they can be maintained over the long run, they often provide nice rewards to shareholders.
What We Can Learn From Carlisle Companies' ROCE
To sum it up, Carlisle Companies has simply been reinvesting capital steadily, at those decent rates of return. And long term investors would be thrilled with the 216% 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.
One final note, you should learn about the 2 warning signs we've spotted with Carlisle Companies (including 1 which is a bit unpleasant) .
If you want to search for solid companies with great earnings, check out this free list of companies with good balance sheets and impressive returns on equity.
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.
如果你正在尋找一個多袋子,有幾個東西需要注意。首先,我們希望看到一個經過驗證的退貨關於已使用資本(ROCE)的增長,其次是擴張基地已動用資本的比例。簡而言之,這些類型的企業是複利機器,這意味着它們不斷地以越來越高的回報率對收益進行再投資。這就是為什麼當我們短暫地查看卡萊爾公司(紐約證券交易所股票代碼:CSL)ROCE趨勢,我們對所看到的相當滿意。
資本回報率(ROCE):它是什麼?
如果你以前沒有使用過ROCE,它衡量的是一家公司從業務資本中獲得的“回報”(税前利潤)。卡萊爾公司的計算公式是:
已動用資本回報率=息税前收益(EBIT)?(總資產-流動負債)
0.17美元=11億美元?(76億美元-13億美元)(根據截至2022年6月的往績12個月計算).
因此,卡萊爾公司的淨資產收益率為17%。按絕對值計算,這是一個相當正常的回報率,有點接近建築業14%的平均水平。
查看我們對卡萊爾公司的最新分析
紐約證券交易所:CSL資本回報率2022年9月20日
在上面的圖表中,我們比較了卡萊爾公司之前的淨資產收益率和之前的業績,但可以説,未來更重要。如果您感興趣,您可以在我們的免費分析師對該公司的預測報告。
卡萊爾公司的ROCE趨勢告訴我們什麼?
雖然目前的資本回報率還不錯,但變化不大。過去五年,該公司持續盈利17%,同期公司內部資本增長了74%。17%是一個相當標準的回報率,知道卡萊爾公司一直都能賺到這個數字,這讓人感到些許安慰。這樣的穩定回報可能並不令人興奮,但如果它們能夠長期保持下去,它們往往會為股東提供豐厚的回報。
我們可以從卡萊爾公司的ROCE中學到什麼
總而言之,卡萊爾的公司只是在以那些像樣的回報率穩定地進行資本再投資。長期投資者會對他們在過去五年中獲得的216%的回報率感到興奮。因此,儘管投資者似乎認識到了這些充滿希望的趨勢,但我們仍然認為,該股值得進一步研究。
最後一個注意事項,您應該瞭解2個警告標誌我們已經看到了卡萊爾公司(包括1家有點令人不快的公司)。
如果你想尋找收入豐厚的可靠公司,看看這個免費擁有良好資產負債表和可觀股本回報率的公司名單。
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。