Haemonetics Corporation's (NYSE:HAE) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Haemonetics Corporation's (NYSE:HAE) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
It is hard to get excited after looking at Haemonetics' (NYSE:HAE) recent performance, when its stock has declined 12% over the past month. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Particularly, we will be paying attention to Haemonetics' ROE today.
近期Haemonetics（纽交所：HAE）的表现并不理想，股价在过去一个月中下跌了12％，因此很难激发人们的兴趣。但如果仔细研究其健全的财务状况，您可能会改变想法。鉴于基本面通常推动长期市场成果，该公司值得关注。特别是，我们今天将关注Haemonetics的ROE。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
净资产收益率（ROE）是衡量公司增值和管理投资者资金有效性的测试。换句话说，它是一种盈利能力比率，用于衡量公司股东提供的资金回报率。
How Is ROE Calculated?
净资产收益率怎么计算？
The formula for return on equity is:
权益回报率的计算公式是：
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 Haemonetics is:
因此，基于上述公式，Haemonetics的ROE为：
12% = US$118m ÷ US$960m (Based on the trailing twelve months to March 2024).
12％ = US$ 118m ÷ US$ 960m（基于过去十二个月截至2024年3月）。
The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.12.
“回报”是年利润。这意味着，公司每投资股东的1美元，就能产生0.12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. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
到目前为止，我们了解到ROE是衡量一家公司如何高效地产生利润的指标。 根据公司选择重新投资或“保留”的利润的比例，我们能够评估公司未来产生利润的能力。 假设其他所有内容保持不变，则ROE和盈利保留比越高，公司的增长速度就越高，这与那些不一定具备这些特征的公司相比。
Haemonetics' Earnings Growth And 12% ROE
Haemonetics的盈利增长和12％的ROE
At first glance, Haemonetics seems to have a decent ROE. And on comparing with the industry, we found that the the average industry ROE is similar at 11%. This probably goes some way in explaining Haemonetics' moderate 13% growth over the past five years amongst other factors.
乍一看，Haemonetics的ROE似乎还不错。与行业相比，我们发现平均行业ROE也在11％左右，这或许在一定程度上可以解释Haemonetics在过去五年中适度增长13％的其他因素。
As a next step, we compared Haemonetics' net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 8.7%.
作为下一步，我们将Haemonetics的净收入增长与行业进行了比较，令人高兴的是，我们发现该公司的增长率高于业内平均增长率8.7％。
Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is HAE fairly valued? This infographic on the company's intrinsic value has everything you need to know.
在估值股票时，盈利增长是一个重要的指标。投资者需要知道市场是否已经合理地反映了该公司预期的盈利增长（或下滑）。这样做将有助于他们确定股票未来的前景，是光明还是黯淡。HAE是否被合理估值？有关该公司内在价值的信息和图表都可在本页找到。
Is Haemonetics Using Its Retained Earnings Effectively?
Haemonetics是否有效地利用了保留收益？
Haemonetics doesn't pay any regular dividends, meaning that all of its profits are being reinvested in the business, which explains the fair bit of earnings growth the company has seen.
Haemonetics并不支付任何定期股息，这意味着其所有利润都被再投资于业务中，这解释了该公司已经取得的相当大的盈利增长。
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 are pretty happy with Haemonetics' performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
总的来说，我们对Haemonetics的表现相当满意。特别是，我们喜欢公司以高回报率重新投资其利润的大部分份额，这当然导致了其收益的大幅增长。但是，了解到当前分析师的预期，我们发现该公司的收益预计将加速增长。这些分析师的预期是基于行业的整体预期，还是基于公司的基本面？请单击此处，进入我们的分析师预测页面。
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.
对本文有反馈？关于内容有所顾虑？直接和我们联系。或电邮 editorial-team (at) simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论，只使用公正的方法论，我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议，也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意，我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有反馈？关于内容有所顾虑？直接和我们联系。或者，也可以发送电子邮件至editorial-team@simplywallst.com