Has AerSale Corporation's (NASDAQ:ASLE) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
Has AerSale Corporation's (NASDAQ:ASLE) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
AerSale (NASDAQ:ASLE) has had a great run on the share market with its stock up by a significant 7.2% over the last week. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to study its financial indicators more closely to see if they had a hand to play in the recent price move. In this article, we decided to focus on AerSale's ROE.
AerSale(纳斯达克股票代码:ASLE)在股市上表现良好,其股票在上周大幅上涨了7.2%。鉴于股价通常与公司的长期财务业绩保持一致,我们决定更仔细地研究其财务指标,看看它们在最近的价格变动中是否有作用。在本文中,我们决定重点关注AerSale的投资回报率。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回报率或投资回报率是用于评估公司管理层利用公司资本效率的关键指标。简而言之,它用于评估公司相对于其股权资本的盈利能力。
See our latest analysis for AerSale
查看我们对 AerSale 的最新分析
How Do You Calculate Return On Equity?
你如何计算股本回报率?
The formula for return on equity is:
股本回报率的公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润(来自持续经营业务)÷ 股东权益
So, based on the above formula, the ROE for AerSale is:
因此,根据上述公式,AerSale的投资回报率为:
1.4% = US$6.4m ÷ US$451m (Based on the trailing twelve months to September 2023).
1.4% = 640万美元 ¥4.51亿美元(基于截至2023年9月的过去十二个月)。
The 'return' is the yearly profit. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.01 in profit.
“回报” 是每年的利润。将其概念化的一种方法是,公司每拥有1美元的股东资本,就能获得0.01美元的利润。
What Is The Relationship Between ROE And Earnings Growth?
投资回报率与收益增长之间有什么关系?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
到目前为止,我们已经了解到,投资回报率衡量的是公司创造利润的效率。根据公司选择将多少利润进行再投资或 “保留”,我们便能够评估公司未来创造利润的能力。一般而言,在其他条件相同的情况下,股本回报率和利润留存率高的公司的增长率要高于不具有这些属性的公司。
AerSale's Earnings Growth And 1.4% ROE
AerSale 的收益增长和 1.4% 的投资回报率
It is quite clear that AerSale's ROE is rather low. Not just that, even compared to the industry average of 12%, the company's ROE is entirely unremarkable. In spite of this, AerSale was able to grow its net income considerably, at a rate of 54% in the last five years. We believe that there might be other aspects that are positively influencing the company's earnings growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
很明显,AerSale的投资回报率相当低。不仅如此,即使与12%的行业平均水平相比,该公司的投资回报率也完全不起眼。尽管如此,AerSale还是能够大幅增长其净收入,在过去五年中以54%的速度增长。我们认为,可能还有其他方面对公司的收益增长产生积极影响。例如,公司的管理层可能做出了一些良好的战略决策,或者公司的支付率很低。
We then compared AerSale's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 4.8% in the same 5-year period.
然后,我们将AerSale的净收入增长与该行业进行了比较,我们很高兴地看到,与同期5年同期增长率为4.8%的行业相比,该公司的增长数字更高。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231208/0-a2cb523c81b7353d3331206286a77a63-0-229a2911778563a5da756acdd93852da.png/big)
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. Is ASLE fairly valued? This infographic on the company's intrinsic value has everything you need to know.
收益增长是股票估值的重要因素。对于投资者来说,重要的是要知道市场是否影响了公司的预期收益增长(或下降)。然后,这可以帮助他们确定股票是面向光明还是黯淡的未来。ASLE 的估值是否公平?这张关于公司内在价值的信息图包含了你需要知道的一切。
Is AerSale Using Its Retained Earnings Effectively?
AerSale 是否在有效使用其留存收益?
AerSale doesn't pay any dividend to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
AerSale不向股东支付任何股息,这意味着该公司一直在将其所有利润再投资于该业务。这可能是推动上面讨论的高收益增长数字的原因。
Conclusion
结论
In total, it does look like AerSale has some positive aspects to its business. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总的来说,看来AerSale的业务确实有一些积极的方面。尽管投资回报率很低,但由于再投资率很高,该公司的收益却取得了可观的增长。话虽如此,最新的行业分析师预测显示,该公司的收益预计将加速。要详细了解分析师对公司的最新预测,请查看分析师对公司的预测的可视化。
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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。