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Returns On Capital Signal Tricky Times Ahead For American Eagle Outfitters (NYSE:AEO)

Returns On Capital Signal Tricky Times Ahead For American Eagle Outfitters (NYSE:AEO)

资本回报表明 American Eagle Outfitters(纽约证券交易所代码:AEO)未来的艰难时期
Simply Wall St ·  02/28 09:46

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Although, when we looked at American Eagle Outfitters (NYSE:AEO), it didn't seem to tick all of these boxes.

如果我们想找到潜在的多袋装袋机,通常有一些潜在的趋势可以提供线索。除其他外,我们希望看到两件事;首先,成长 返回 论资本使用率(ROCE),其次是公司的扩张 金额 所用资本的比例。归根结底,这表明这是一家以更高的回报率对利润进行再投资的企业。但是,当我们查看 American Eagle Outfitters(纽约证券交易所代码:AEO)时,它似乎并没有勾选所有这些方框。

What Is Return On Capital Employed (ROCE)?

什么是资本使用回报率(ROCE)?

Just to clarify if you're unsure, ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business. The formula for this calculation on American Eagle Outfitters is:

为了澄清一下你是否不确定,ROCE是评估公司从投资于其业务的资本中获得多少税前收入(按百分比计算)的指标。在 American Eagle Outfitters 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)

0.12 = US$335m ÷ (US$3.5b - US$831m) (Based on the trailing twelve months to October 2023).

0.12 = 3.35亿美元 ÷(35亿美元-8.31亿美元) (基于截至2023年10月的过去十二个月)

Thus, American Eagle Outfitters has an ROCE of 12%. In absolute terms, that's a pretty normal return, and it's somewhat close to the Specialty Retail industry average of 13%.

因此,American Eagle Outfitters的投资回报率为12%。从绝对值来看,这是相当正常的回报,略接近专业零售行业13%的平均水平。

roce
NYSE:AEO Return on Capital Employed February 28th 2024
纽约证券交易所:AEO 2024年2月28日动用资本回报率

Above you can see how the current ROCE for American Eagle Outfitters compares to its prior returns on capital, but there's only so much you can tell from the past. If you'd like to see what analysts are forecasting going forward, you should check out our free analyst report for American Eagle Outfitters .

上面你可以看到American Eagle Outfitters当前的投资回报率与之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。如果你想了解分析师对未来的预测,你应该查看我们为American Eagle Outfitters提供的免费分析师报告。

So How Is American Eagle Outfitters' ROCE Trending?

那么 American Eagle Outfitters 的 ROCE 趋势如何?

In terms of American Eagle Outfitters' historical ROCE movements, the trend isn't fantastic. To be more specific, ROCE has fallen from 26% over the last five years. On the other hand, the company has been employing more capital without a corresponding improvement in sales in the last year, which could suggest these investments are longer term plays. It may take some time before the company starts to see any change in earnings from these investments.

就American Eagle Outfitters的历史ROCE走势而言,这种趋势并不理想。更具体地说,投资回报率已从过去五年的26%下降。另一方面,该公司在去年一直在使用更多资本,但销售额没有相应改善,这可能表明这些投资是长期投资。公司可能需要一段时间才能开始看到这些投资的收益发生任何变化。

In Conclusion...

总之...

In summary, American Eagle Outfitters is reinvesting funds back into the business for growth but unfortunately it looks like sales haven't increased much just yet. And with the stock having returned a mere 26% in the last five years to shareholders, you could argue that they're aware of these lackluster trends. Therefore, if you're looking for a multi-bagger, we'd propose looking at other options.

总而言之,American Eagle Outfitters正在将资金再投资回该业务以实现增长,但不幸的是,销售额似乎还没有太大增长。而且,由于该股在过去五年中仅向股东回报了26%,因此你可以说他们意识到了这些乏善可陈的趋势。因此,如果您正在寻找多袋机,我们建议您考虑其他选项。

One more thing to note, we've identified 2 warning signs with American Eagle Outfitters and understanding them should be part of your investment process.

还有一件事需要注意,我们已经向American Eagle Outfitters确定了两个警告信号,并了解它们应该成为您投资过程的一部分。

While American Eagle Outfitters isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.

尽管American Eagle Outfitters的回报率并不高,但请查看这份免费的股票回报率高、资产负债表稳健的公司名单。

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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.

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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。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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