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Investors Shouldn't Overlook AGCO's (NYSE:AGCO) Impressive Returns On Capital

Investors Shouldn't Overlook AGCO's (NYSE:AGCO) Impressive Returns On Capital

投資者不應忽視愛科集團(紐約證券交易所代碼:AGCO)可觀的資本回報率
Simply Wall St ·  2023/12/16 09:51

There are a few key trends to look for if we want to identify the next multi-bagger. 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. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. With that in mind, the ROCE of AGCO (NYSE:AGCO) looks great, so lets see what the trend can tell us.

如果我們想確定下一款多袋機,有一些關鍵的趨勢需要考慮。在一個完美的世界中,我們希望看到一家公司向其業務投入更多資本,理想情況下,從這些資本中獲得的回報也在增加。基本上,這意味着公司擁有可以繼續進行再投資的盈利計劃,這是複合機器的特徵。考慮到這一點,愛科(紐約證券交易所代碼:AGCO)的投資回報率看起來不錯,所以讓我們看看趨勢能告訴我們什麼。

Return On Capital Employed (ROCE): What Is It?

資本使用回報率(ROCE):這是什麼?

For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on AGCO is:

對於那些不知道的人來說,ROCE是衡量公司年度稅前利潤(其回報率)的指標,相對於該業務使用的資本。在 AGCO 上進行此計算的公式爲:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

已動用資本回報率 = 息稅前收益(EBIT)÷(總資產-流動負債)

0.25 = US$1.8b ÷ (US$11b - US$4.1b) (Based on the trailing twelve months to September 2023).

0.25 = 18 億美元 ¥(110 億美元至 41 億美元) (基於截至2023年9月的過去十二個月)

Therefore, AGCO has an ROCE of 25%. In absolute terms that's a great return and it's even better than the Machinery industry average of 12%.

因此,愛科的投資回報率爲25%。從絕對值來看,這是一個不錯的回報,甚至比機械行業平均水平的12%還要好。

Check out our latest analysis for AGCO

查看我們對愛科的最新分析

roce
NYSE:AGCO Return on Capital Employed December 16th 2023
紐約證券交易所:愛科集團已動用資本回報率 2023 年 12 月 16 日

Above you can see how the current ROCE for AGCO compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like, you can check out the forecasts from the analysts covering AGCO here for free.

在上方你可以看到愛科目前的投資回報率與之前的資本回報率相比如何,但從過去可以看出來只有這麼多。如果你願意,你可以在這裏免費查看報道愛科集團的分析師的預測。

What Can We Tell From AGCO's ROCE Trend?

我們可以從愛科的投資回報率趨勢中看出什麼?

We like the trends that we're seeing from AGCO. Over the last five years, returns on capital employed have risen substantially to 25%. 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 38%. So we're very much inspired by what we're seeing at AGCO thanks to its ability to profitably reinvest capital.

我們喜歡從愛科看到的趨勢。在過去五年中,已動用資本回報率大幅上升至25%。實際上,該公司每使用1美元資本就能賺更多的錢,值得注意的是,資本金額也增加了38%。因此,由於愛科能夠盈利地進行資本再投資,我們在愛科所看到的情況給我們帶來了極大的啓發。

The Bottom Line On AGCO's ROCE

愛科集團投資回報率的底線

In summary, it's great to see that AGCO can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. Since the stock has returned a staggering 157% to shareholders over the last five years, it looks like investors are recognizing these changes. In light of that, we think it's worth looking further into this stock because if AGCO can keep these trends up, it could have a bright future ahead.

總而言之,很高興看到愛科能夠通過不斷提高的回報率對資本進行再投資來實現複合收益,因爲這些是那些備受追捧的多袋機的一些關鍵要素。由於該股在過去五年中爲股東帶來了驚人的157%的回報,看來投資者已經意識到了這些變化。有鑑於此,我們認爲值得進一步研究這隻股票,因爲如果愛科能夠保持這些趨勢,它可能會有光明的前景。

One more thing, we've spotted 1 warning sign facing AGCO that you might find interesting.

還有一件事,我們在愛科集團面前發現了1個警告標誌,你可能會覺得很有趣。

If you want to search for more stocks that have been earning high returns, check out this free list of stocks with solid balance sheets that are also earning high returns on equity.

如果您想尋找更多獲得高回報的股票,請查看這份資產負債表穩健、股票回報率也很高的股票的免費清單。

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.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St 的這篇文章本質上是籠統的。我們僅使用公正的方法提供基於歷史數據和分析師預測的評論,我們的文章並非旨在提供財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不會考慮最新的價格敏感型公司公告或定性材料。華爾街只是沒有持有上述任何股票的頭寸。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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