Are Strong Financial Prospects The Force That Is Driving The Momentum In Patterson Companies, Inc.'s NASDAQ:PDCO) Stock?
Are Strong Financial Prospects The Force That Is Driving The Momentum In Patterson Companies, Inc.'s NASDAQ:PDCO) Stock?
Most readers would already be aware that Patterson Companies' (NASDAQ:PDCO) stock increased significantly by 5.7% over the past month. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes. Specifically, we decided to study Patterson Companies' ROE in this article.
大多数读者可能已经知道,帕特森公司(NASDAQ:PDCO)的股票在过去一个月内已经显著增长了5.7%。鉴于该公司的出色表现,我们决定更仔细地研究其财务指标,因为长期来看,一家公司的财务状况通常会决定市场结果。具体而言,我们决定在本文中研究帕特森公司的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股东权益回报率ROE是测试公司增值能力和管理股东投资的有效性的指标。更简单地说,它衡量公司在股东权益中的盈利能力。
How Do You Calculate Return On Equity?
怎样计算ROE?
ROE can be calculated by using the formula:
净资产收益率可以使用以下公式进行计算:
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 Patterson Companies is:
因此,根据上述公式,Patterson Companies的roe为:
19% = US$186m ÷ US$1.0b (Based on the trailing twelve months to April 2024).
19% = US$18600万 ÷ US$10亿(基于2014年4月之前的过去12个月)。
The 'return' refers to a company's earnings over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.19 in profit.
“回报”是指公司在过去一年中的收益。这意味着对于每1美元的股东权益,公司将产生0.19美元的利润。
What Is The Relationship Between ROE And Earnings Growth?
ROE与盈利增长之间的关系是什么?
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 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.
我们已经确定ROE作为一个高效的盈利规模可以评估公司未来的收益。根据公司选择再投资或保留多少利润,我们可以评估公司未来盈利的能力。假设其他所有条件均保持不变,ROE和利润留存率越高,相对于没有这些特点的公司,公司的增长率就越高。
Patterson Companies' Earnings Growth And 19% ROE
帕特森公司的盈利增长和19%的roe
To begin with, Patterson Companies seems to have a respectable ROE. Especially when compared to the industry average of 11% the company's ROE looks pretty impressive. This probably laid the ground for Patterson Companies' significant 39% net income growth seen over the past five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.
首先,帕特森公司的roe似乎还算不错。特别是与行业平均水平11%相比,公司的roe看起来相当令人印象深刻。这很可能为帕特森公司过去五年中出现的39%净利润增长奠定了基础。我们认为,可能还有其他方面对公司的盈利增长产生了积极影响。例如,高额盈余留存或有效的管理。
As a next step, we compared Patterson Companies' 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 4.7%.
作为下一步,我们将帕特森公司的净利润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高于行业平均增长4.7%。
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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). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. If you're wondering about Patterson Companies''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
评估一家公司的价值,很大程度上取决于其盈利增长。了解市场是否已将公司的预期盈利增长(或下降)定价对于投资者来说非常重要。通过这样做,他们将会知道股票是走向清晰的蓝色水域还是等待泥泞的水域。如果你想知道帕特森公司的估值,请查看它的市盈率相对于行业的比较。
Is Patterson Companies Efficiently Re-investing Its Profits?
帕特森公司是否有效地再投资其利润?
Patterson Companies' significant three-year median payout ratio of 51% (where it is retaining only 49% of its income) suggests that the company has been able to achieve a high growth in earnings despite returning most of its income to shareholders.
帕特森公司显著的三年中位数股息支付比率为51%(只保留了49%的收入),这表明尽管将大部分收入返还给股东,该公司仍能取得高增长的盈利。
Moreover, Patterson Companies is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 28% over the next three years. Despite the lower expected payout ratio, the company's ROE is not expected to change by much.
此外,帕特森公司决定继续与股东分享利润,我们可以从其至少十年的派息历史记录中推断出来。研究最新的分析师共识数据后,我们发现公司的未来股息支付比率预计会在未来三年降至28%。尽管预期股息支付比率较低,但公司的roe预计不会有太大变化。
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 Patterson Companies' performance. In particular, its high ROE is quite noteworthy and also the probable explanation behind its considerable earnings growth. Yet, the company is retaining a small portion of its profits. Which means that the company has been able to grow its earnings in spite of it, so that's not too bad. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. 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,我们对帕特森公司的表现非常满意。特别是其高roe相当值得注意,也是其可观的盈利增长的可能解释。然而,该公司留存了一小部分利润,这意味着尽管如此,公司仍能增长其盈利,所以情况并不糟糕。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。这些分析师的预期是基于行业的总体预期,还是基于公司的基本面?请单击此处转到我们的分析师预测页面。
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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.
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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
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。