Shoe Carnival, Inc.'s (NASDAQ:SCVL) Stock's On An Uptrend: Are Strong Financials Guiding The Market?
Shoe Carnival, Inc.'s (NASDAQ:SCVL) Stock's On An Uptrend: Are Strong Financials Guiding The Market?
Shoe Carnival's (NASDAQ:SCVL) stock is up by a considerable 12% over the past three months. 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. Particularly, we will be paying attention to Shoe Carnival's ROE today.
过去三个月,Shoe Carnival(纳斯达克股票代码:SCVL)的股价上涨了12%。考虑到该公司的惊人表现,我们决定更加密切地研究其财务指标,因为长期以来,一家公司的财务状况通常决定了市场的走向。特别是,我们今天将注意Shoe Carnival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 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 Shoe Carnival is:
因此,根据上述公式,Shoe Carnival的roe为:
12% = US$74m ÷ US$598m (Based on the trailing twelve months to May 2024).
12%= US $ 7400万÷ US $ 59800万(基于过去12个月至2024年5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 $0.12 in profit.
“回报”就是公司在过去一年中赚取的收入。这意味着对于每1美元的股东权益,公司产生了0.12美元的利润。
What Has ROE Got To Do With Earnings Growth?
roe与盈利增长有何关系?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. 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.
到目前为止,我们已经知道roe衡量公司生成利润的效率。根据公司选择再投资或“保留”的利润的多少,我们能够评估公司未来生成利润的能力。一般而言,在其他条件相等的情况下,roe和盈利保留较高的公司,比没有这些属性的公司增长率更高。
Shoe Carnival's Earnings Growth And 12% ROE
Shoe Carnival的收益增长和12%的roe
To start with, Shoe Carnival's ROE looks acceptable. Even so, when compared with the average industry ROE of 18%, we aren't very excited. However, we are pleased to see the impressive 22% net income growth reported by Shoe Carnival over the past five years. We believe that there might be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently. However, not to forget, the company does have a decent ROE to begin with, just that it is lower than the industry average. So this certainly also provides some context to the high earnings growth seen by the company.
首先,Shoe Carnival的roe看起来可接受。即使如此,与18%的行业平均roe相比,我们并不是很激动。然而,我们很高兴看到Shoe Carnival在过去五年中报告的令人印象深刻的22%净利润增长。我们相信可能还有其他积极影响公司收益增长的方面。例如,公司的股息支付率低或者管理有效率。然而,不要忘记,公司的roe还不错,只是低于行业平均水平。因此,这也为公司高收益增长提供了一些背景。接下来,我们将Shoe Carnival的净利润增长与行业进行比较,发现公司报告的增长率与过去几年的行业平均增长率21%相似。
Next, on comparing Shoe Carnival's net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 21% over the last few years.
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Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. What is SCVL worth today? The intrinsic value infographic in our free research report helps visualize whether SCVL is currently mispriced by the market.
收益增长是估值股票时需要考虑的重要指标。投资者需要确定下一步的预期收益增长是否已经反映在股价中,从而帮助他们确定该股票的未来前景是光明还是暗淡。今天SCVL值多少钱?我们免费研究报告中的内在价值信息图表可视化了SCVL是否被市场错误定价。
Is Shoe Carnival Using Its Retained Earnings Effectively?
Shoe Carnival是否有效地利用其留存收益?
Shoe Carnival's three-year median payout ratio to shareholders is 8.8%, which is quite low. This implies that the company is retaining 91% of its profits. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.
Shoe Carnival三年的股息支出比率中位数为8.8%,相当低。这意味着该公司将其利润的91%保留下来。这表明管理层正在重新投资大部分利润,正如公司的增长所证明的那样。
Moreover, Shoe Carnival 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.
此外,Shoe Carnival决心继续与股东分享收益,我们可以从其至少十年支付股息的悠久历史中推断出这一点。
Conclusion
结论
On the whole, we feel that Shoe Carnival's performance has been quite good. Particularly, we like that the company is reinvesting heavily into its business at a moderate rate of return. Unsurprisingly, this has led to an impressive earnings growth. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. 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.
总体而言,我们认为Shoe Carnival的表现相当不错。特别是,我们喜欢该公司以适度的回报率大量投资于业务中。不出所料,这导致了惊人的收益增长。尽管如此,最新分析师预测的研究表明,预计该公司未来的收益增长将放缓。这些分析师的预期是基于行业的广泛预期,还是基于公司的基本面?单击此处以进入我们的分析师预测页面。
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