Jones Lang LaSalle Incorporated's (NYSE:JLL) Stock Is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?
Jones Lang LaSalle Incorporated's (NYSE:JLL) Stock Is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?
Jones Lang LaSalle's (NYSE:JLL) stock is up by a considerable 31% over the past three months. However, we wonder if the company's inconsistent financials would have any adverse impact on the current share price momentum. Particularly, we will be paying attention to Jones Lang LaSalle's ROE today.
过去三个月，仲量联行（NYSE：JLL）的股票价格大幅上涨31％。但我们不知道公司看似不稳定的财务状况是否会对当前的股价势头产生任何不利影响。特别地，我们将重点关注仲量联行今日的roe。
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ROE是一项用于评估公司管理层如何利用公司资本的效率的关键指标。简而言之，它用于评估公司相对于其股本资本的盈利能力。
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 Jones Lang LaSalle is:
因此，根据上述公式，仲量联行的roe为：
4.7% = US$301m ÷ US$6.4b (Based on the trailing twelve months to March 2024).
4.7％= 3.0100亿美元÷640亿美元（基于过去12个月至2024年3月）。
The 'return' is the income the business earned over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.05 in profit.
‘回报’是企业在过去一年中获得的收入。这意味着对于每1美元的股东权益，公司创造了0.05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？
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。
Jones Lang LaSalle's Earnings Growth And 4.7% ROE
仲量联行的收益增长和4.7％的roe
At first glance, Jones Lang LaSalle's ROE doesn't look very promising. However, given that the company's ROE is similar to the average industry ROE of 4.9%, we may spare it some thought. Still, Jones Lang LaSalle has seen a flat net income growth over the past five years. Bear in mind, the company's ROE is not very high. So that could also be one of the reasons behind the company's flat growth in earnings.
乍一看，仲量联行的roe看起来并不太可喜。但是，考虑到公司的roe与行业平均roe接近，我们可以考虑一下。但是，仲量联行在过去五年中的净利润增长停滞不前。请记住，该公司的roe并不是很高。因此，这也可能是公司收益停滞不前的原因之一。
Next, on comparing with the industry net income growth, we found that the industry grew its earnings by 14% over the last few years.
接下来，我们将行业净收入增长与成都智明达电子进行比较，发现行业过去几年增长了14%。
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. This then helps them determine if the stock is placed for a bright or bleak future. Is JLL fairly valued? This infographic on the company's intrinsic value has everything you need to know.
收益增长是估值股票时需要考虑的重要指标。投资者应该努力确定预期的收益增长或下降（无论哪种情况），是否被定价。然后，这有助于他们判断股票的未来是光明还是黯淡。JLL是否公允定价？这份有关公司内在价值的信息图包含您需要了解的一切。
Is Jones Lang LaSalle Efficiently Re-investing Its Profits?
仲量联行是否有效地重新投资其利润？
Jones Lang LaSalle doesn't pay any regular dividends, meaning that potentially all of its profits are being reinvested in the business. However, this doesn't explain why the company hasn't seen any growth. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
仲量联行不支付任何常规股息，这意味着其所有利润都有可能被重新投资于业务中。但是，这并不能解释为什么该公司没有看到任何增长。看起来似乎有其他原因来解释这个问题。例如，该业务可能正在衰退。
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 Jones Lang LaSalle's 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.
总体而言，我们对仲量联行的表现有些矛盾的看法。尽管它似乎保留了大部分利润，但考虑到roe较低，投资者可能并没有从所有的再投资中受益。低收益增长表明我们的理论是正确的。话虽如此，最新的行业分析师预测显示，分析师们预计该公司的收益增长率将有巨大的提高。如需了解有关该公司最新分析师预测的更多信息，请查看该公司的分析师预测可视化。
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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
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