Is Daktronics, Inc.'s (NASDAQ:DAKT) Recent Stock Performance Tethered To Its Strong Fundamentals?
Is Daktronics, Inc.'s (NASDAQ:DAKT) Recent Stock Performance Tethered To Its Strong Fundamentals?
Daktronics' (NASDAQ:DAKT) stock is up by a considerable 34% over the past three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. Specifically, we decided to study Daktronics' ROE in this article.
在过去的三个月里，Daktronics（纳斯达克：DAKT）的股价上涨了34%。由于市场通常会关注公司的长期基本面，我们决定研究该公司的关键绩效指标，看看它们是否可能影响市场。具体而言，在本文中我们决定研究Daktronics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 simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股东要考虑的关键因素之一是净资产收益率或roe，因为它告诉他们公司如何有效地重新投资他们的资本。简单点说，它衡量了公司与股东权益相关的盈利能力。
How Is ROE Calculated?
净资产收益率怎么计算？
The formula for ROE is:
roe的公式是：
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 Daktronics is:
因此，根据上述公式，Daktronics的ROE为：
23% = US$54m ÷ US$236m (Based on the trailing twelve months to January 2024).
23% = 美国$5400万 ÷ 美国$2.36亿（根据截至2024年1月报告的过去十二个月）。
The 'return' is the income the business earned over the last year. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.23 in profit.
“回报率”是企业上一年的收入。换句话说，企业能够赚取每1美元的股本中的0.23美元利润。
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. 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 all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
我们已经确定ROE是衡量公司未来盈利能力的有效指标。基于公司选择再投资或“留存”利润的比例，我们可以评估公司未来生成利润的能力。其他条件相同的情况下，具有更高净资产收益率和更高利润留存率的公司通常比没有这些特点的公司增长率更高。
Daktronics' Earnings Growth And 23% ROE
Daktronics的盈利增长和23%的ROE
Firstly, we acknowledge that Daktronics has a significantly high ROE. Additionally, the company's ROE is higher compared to the industry average of 9.6% which is quite remarkable. So, the substantial 44% net income growth seen by Daktronics over the past five years isn't overly surprising.
首先，我们认识到Daktronics的ROE非常高。此外，公司的ROE高于行业平均水平9.6%，这相当卓越。因此，Daktronics在过去五年中显着增长了44%的净收入，这并不令人过度惊讶。
As a next step, we compared Daktronics' 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 15%.
作为下一步，我们将Daktronics的净收入增长与行业进行了比较，高兴的是，我们发现该公司的增长高于平均行业增长率15%。
Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Daktronics is trading on a high P/E or a low P/E, relative to its industry.
盈利增长是估值股票时需要考虑的重要指标。投资者应该尝试确认预期的盈利增长或下降（不论哪种情况），是否已经定价。这样做将有助于他们确定股票的未来前景是有希望的还是不乐观的。预期盈利增长的一个很好的指标是市盈率，它根据公司的盈利前景确定市场愿意为股票支付的价格。因此，您可能要检查Daktronics的市盈率是高于行业还是低于行业。
Is Daktronics Making Efficient Use Of Its Profits?
Daktronics是否有效利用其利润？
Daktronics doesn't pay any regular dividends 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.
Daktronics没有向股东支付任何定期股息，这意味着该公司一直在将所有利润投资于业务中。这很可能是导致上述高盈利增长的原因。
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 are quite pleased with Daktronics' performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. 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Daktronics的表现感到相当满意。特别是，我们喜欢该公司大量投资业务，并以高回报率投资。毫不意外，这导致了惊人的盈利增长。尽管如此，最新的行业分析师预测显示，该公司的盈利增长预计将放缓。要了解有关公司的最新分析师预测的更多信息，请查看此公司的分析师预测可视化。
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Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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