Do Its Financials Have Any Role To Play In Driving Cricut, Inc.'s (NASDAQ:CRCT) Stock Up Recently?
Do Its Financials Have Any Role To Play In Driving Cricut, Inc.'s (NASDAQ:CRCT) Stock Up Recently?
Cricut (NASDAQ:CRCT) has had a great run on the share market with its stock up by a significant 31% over the last three months. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. Particularly, we will be paying attention to Cricut's ROE today.
Cricut（纳斯达克：CRCT）股价在过去三个月中大幅上涨了31％，在股市上取得了巨大的成功。我们想知道公司的财务状况在这种价格变动中扮演了什么角色，因为公司的长期基本面通常决定市场结果。今天我们将特别关注Cricut的roe。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
对于股东来说，股东回报率（ROE）是一个重要的考虑因素，因为它告诉股东他们的资本被有效地再投资了多少。换句话说，它是一个衡量公司股东提供的资本回报率的盈利能力比率。
How To Calculate Return On Equity?
如何计算股东权益报酬率？
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 Cricut is:
因此，根据上述公式，Cricut的roe为:
12% = US$64m ÷ US$553m (Based on the trailing twelve months to March 2024).
12％= 6400万美元÷ 55.3亿美元（基于截至2024年3月的过去十二个月）。
The 'return' is the amount earned after tax over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.12 in profit.
“回报”是指过去十二个月税后所赚取的金额。这意味着对于每美元股东权益，公司创造了0.12美元的利润。
What Is The Relationship Between ROE And Earnings Growth?
既然我们已经确定ROE是一种有效的利润生成标准，用于评估公司未来的盈利能力，我们现在需要评估公司“保留”为未来增长而重新投资的利润多少，这使我们对公司的增长潜力有了一个了解。一般而言，在其他条件相等的情况下，ROE和利润留存高的公司，增长率比没有这些属性的公司要高。
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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.
我们已经确定ROE是一种有效的利润生成标准，用于评估公司未来的盈利能力。我们现在需要评估公司“保留”为未来增长而重新投资的利润多少，这使我们对公司的增长潜力有了一个了解。一般而言，在其他条件相等的情况下，ROE和利润留存高的公司，增长率比没有这些属性的公司要高。
Cricut's Earnings Growth And 12% ROE
Cricut的盈利增长和12％的roe
To start with, Cricut's ROE looks acceptable. Even so, when compared with the average industry ROE of 15%, we aren't very excited. Moreover, Cricut's net income shrunk at a rate of 24%over the past five years. Bear in mind, the company does have a high ROE. It is just that the industry ROE is higher. Hence there might be some other aspects that are causing earnings to shrink. These include low earnings retention or poor allocation of capital.
首先，Cricut的roe看起来可接受。即便如此，与行业平均roe 15％相比，我们并不是很兴奋。此外，Cricut的净利润在过去五年中以24％的速度缩水。请注意，该公司具有较高的roe。只是行业roe更高。因此，可能会有其他因素导致收益缩水。这些可能包括低盈利保留或资本配置不善。
That being said, we compared Cricut's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 24% in the same 5-year period.
话虽如此，我们将Cricut的表现与行业进行比较，并发现在同样的5年时间内，该公司减少了盈利，而该行业的盈利增长率为24％。
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. If you're wondering about Cricut's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
公司所附加的价值，很大程度上取决于其盈利增长。投资者知道市场是否已经定价出公司预期的盈利增长（或下降）很重要。这有助于他们确定股票的未来前景是光明还是黯淡。如果你想知道Cricut的估值，请查看它的市盈率与行业的比较。
Is Cricut Using Its Retained Earnings Effectively?
Cricut是否有效利用其保留盈利？
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。
Overall, we feel that Cricut certainly does have some positive factors to consider. However, while the company does have a decent ROE and a high profit retention, its earnings growth number is quite disappointing. This suggests that there might be some external threat to the business, that's hampering growth. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. Our risks dashboard would have the 4 risks we have identified for Cricut.
总的来说，我们认为Cricut肯定有一些积极因素需要考虑。然而，尽管该公司拥有可观的roe和高利润保留率，但其盈利增长率相当令人失望。这表明可能存在一些外部威胁，正在阻碍增长。虽然我们不会完全排除公司，但我们要尝试确定业务的风险程度，以便做出更明智的决策。我们的风险仪表板会列举Cricut的四个风险点。
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