To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing 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. In light of that, when we looked at Blackmores (ASX:BKL) and its ROCE trend, we weren't exactly thrilled.
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>>> Read more: Capital Allocation Trends At Blackmores (ASX:BKL) Aren't Ideal
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>>> Read more: Capital Allocation Trends At Blackmores (ASX:BKL) Aren't Ideal
