Are Trip.com Group Limited's (NASDAQ:TCOM) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?
Are Trip.com Group Limited's (NASDAQ:TCOM) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?
Trip.com Group (NASDAQ:TCOM) has had a rough three months with its share price down 25%. But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. Particularly, we will be paying attention to Trip.com Group's ROE today.
携程网集团(纳斯达克: TCOM)的股价在过去三个月中下跌了25%。 但是,如果您仔细观察,可能会发现其关键财务指标看起来相当不错,这意味着该公司可能会在长期内上涨,因为市场通常会奖励更具弹性的长期基本面。 特别是今天我们将注意携程网集团的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. 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)是衡量公司经营管理层如何有效利用公司资本的关键指标。换言之,它是一种利润率,衡量由公司股东提供的资本的回报率。
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 Trip.com Group is:
因此,根据上述公式,携程网集团的roe为:
8.5% = CN¥11b ÷ CN¥129b (Based on the trailing twelve months to March 2024).
8.5%= CN ¥ 110亿 ÷ CN ¥ 1290亿(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. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.09 in profit.
“收益”是过去十二个月税后收益。一个理解的方式是,在每美元股东的资本中,公司赚了$0.09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?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. 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,我们已经了解了roe衡量公司利润产生效率的程度。现在我们需要评估公司为未来增长而重新投资或“保留”的利润数量,然后了解公司的增长潜力。假设其他一切不变,roe和利润保留率越高,公司的增长率就越高,而与不一定具备这些特征的公司相比,这种增长率的相对性就越高。
Trip.com Group's Earnings Growth And 8.5% ROE
携程网集团的收益增长和8.5%的roe
On the face of it, Trip.com Group's ROE is not much to talk about. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 18% either. Despite this, surprisingly, Trip.com Group saw an exceptional 29% net income growth over the past five years. Therefore, there could be other reasons behind this growth. Such as - high earnings retention or an efficient management in place.
表面上看,携程网集团的roe并没有太多可说之处。进一步研究表明,该公司的roe与行业平均水平的18%相比也不占优势。尽管如此,令人惊讶的是,携程网集团过去五年的净利润增长率高达29%。 因此,这种增长背后可能存在其他原因。 例如 - 高利润保留率或高效的管理措施。
As a next step, we compared Trip.com Group's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 28% in the same period.
作为下一步,我们将携程网集团的净利润增长与该行业进行了比较,并发现该公司的增长率与同期行业平均增长率28%相似。
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Earnings growth is a huge factor in stock valuation. 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. Has the market priced in the future outlook for TCOM? You can find out in our latest intrinsic value infographic research report.
收益增长是股票估值的一个巨大因素。投资者知道市场是否已经定价了公司预期的收益增长(或下降)非常重要。通过这样做,他们将了解股票是否正朝着清晰的蓝色水域或是泥泞的水域前进。市场是否已经为TCOM未来的前景定价? 您可以在我们最新的内在价值信息图研究报告中了解。
Is Trip.com Group Efficiently Re-investing Its Profits?
携程网集团是否在有效地重新投资其利润?
Given that Trip.com Group doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
鉴于携程网集团不向股东支付任何定期股息,我们推断该公司一直在将其所有利润重新投资以发展业务。
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。
On the whole, we do feel that Trip.com Group has some positive attributes. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high 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,我们确实认为携程网集团具有一些正面的特征。尽管率高,但该公司将其非常高的利润比例再投资到业务中,无疑促进了其高收益增长。话虽如此,最新的行业分析师预测表明,该公司的收益增长有望放缓。想了解有关该公司的最新分析师预测的更多信息,请查看此可视化工具。
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