Are The Cooper Companies, Inc.'s (NASDAQ:COO) Mixed Financials The Reason For Its Gloomy Performance on The Stock Market?
Are The Cooper Companies, Inc.'s (NASDAQ:COO) Mixed Financials The Reason For Its Gloomy Performance on The Stock Market?
It is hard to get excited after looking at Cooper Companies' (NASDAQ:COO) recent performance, when its stock has declined 6.6% over the past three months. It seems that the market might have completely ignored the positive aspects of the company's fundamentals and decided to weigh-in more on the negative aspects. Long-term fundamentals are usually what drive market outcomes, so it's worth paying close attention. In this article, we decided to focus on Cooper Companies' ROE.
考虑到庫珀公司（NASDAQ:COO）近三个月的表现下跌了6.6％，很难为其感到兴奋。市场可能完全忽略了公司基本面的积极方面，并决定更注重负面因素。长期的基本面通常是推动市场结果的因素，因此值得密切关注。在本文中，我们决定关注庫珀医疗的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE，即净资产收益率，测试一家公司有效增加价值和管理股东资金的能力。换句话说，它揭示了公司将股东投资转化为利润的成功程度。
How To Calculate Return On Equity?
如何计算股东权益报酬率？
Return on equity can be calculated by using the formula:
股东权益报酬率可以使用以下公式计算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润（从持续经营中获得）÷ 股东权益
So, based on the above formula, the ROE for Cooper Companies is:
因此，根据上述公式，庫珀医疗的roe为：
4.4% = US$340m ÷ US$7.8b (Based on the trailing twelve months to April 2024).
4.4％= 3,400万美元 ÷ 78亿美元（基于截至2024年4月的过去十二个月）。
The 'return' refers to a company's earnings over the last year. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.04 in profit.
'回报'指的是公司在过去一年的收益。另一种思考方式是，对于每1美元的股权，公司能够赚取0.04美元的利润。
What Has ROE Got To Do With Earnings Growth?
ROE与盈利增长有什么关系？
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ROE衡量公司利润的效率如何。基于公司选择再投资或保留多少利润，我们随后能够评估公司未来产生利润的能力。总的来说，在其他条件相等的情况下，具有高ROE和利润保留的公司的增长率比没有这些特征的公司要高。
A Side By Side comparison of Cooper Companies' Earnings Growth And 4.4% ROE
庫珀医疗收益增长和4.4％的roe相对比的结果
It is quite clear that Cooper Companies' ROE is rather low. Even compared to the average industry ROE of 11%, the company's ROE is quite dismal. For this reason, Cooper Companies' five year net income decline of 8.9% is not surprising given its lower ROE. However, there could also be other factors causing the earnings to decline. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.
很明显，庫珀医疗的roe相当低。即使与11％的行业平均roe相比，它仍然相当糟糕。因此，考虑到roe偏低，庫珀医疗的净收入在过去五年中下降了8.9％并不令人惊讶。然而，导致收益下降的其他因素也可能是业务设置资本不善或公司股息支付率非常高。
So, as a next step, we compared Cooper Companies' performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 8.7% over the last few years.
因此，作为下一步，我们将庫珀医疗的业绩与行业进行了比较，并对发现的结果感到失望。虽然公司一直在缩减其收益，但行业在过去几年中的收益增长率却达到了8.7％。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. What is COO worth today? The intrinsic value infographic in our free research report helps visualize whether COO is currently mispriced by the market.
给公司附加价值的基础很大程度上取决于其收益增长。投资者知道市场是否已经考虑到公司预期的收益增长（或下降）则很重要。这有助于他们判断股票的前景是明亮还是黯淡。COO今天的价值是多少？我们免费的研究报告中的内在价值信息图表可以帮助可视化COO是否被市场错价。
Is Cooper Companies Using Its Retained Earnings Effectively?
庫珀医疗是否有效地利用了保留收益？
While the company did payout a portion of its dividend in the past, it currently doesn't pay a regular dividend. This implies that potentially all of its profits are being reinvested in the business.
虽然该公司过去曾分红一部分，但目前不支付常规股息。这意味着其所有的利润都被重新投资于业务中。
Summary
总的来说，我们对伟明环保的表现非常满意。具体而言，我们喜欢公司以高回报率再投资了其利润的很大一部分。当然，这导致公司的收益大幅增长。但是，最新的行业分析师预测表明，该公司的收益预计将加速增长。
In total, we're a bit ambivalent about Cooper Companies' performance. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. 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，我们对庫珀医疗的表现存在一些矛盾的看法。尽管它似乎保留了大部分利润，但考虑到roe偏低，投资者可能并没有从所有这些再投资中获得好处。低收益增长率表明我们的理论是正确的。即便如此，最新行业分析师预测显示，分析师预计该公司的收益增长率将有巨大提升。了解有关该公司最新分析师预测的更多信息，请查看本公司分析师预测的可视化。
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