Pool Corporation's (NASDAQ:POOL) Stock Been Rising: Are Strong Financials Guiding The Market?
Pool Corporation's (NASDAQ:POOL) Stock Been Rising: Are Strong Financials Guiding The Market?
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity Pool's (NASDAQ:POOL) stock up by 1.5% over the past three months. Since the market usually pay for a company's long-term financial health, we decided to study the company's fundamentals to see if they could be influencing the market. Particularly, we will be paying attention to Pool's ROE today.
纳斯达克(Pool)股票在过去三个月上涨了1.5%。由于市场通常会为公司的长期财务状况买单，我们决定研究该公司的基本面，看看它们是否可能影响市场。特别地，今天我们将关注Pool的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. 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）是衡量公司增值和管理投资者资金有效性的测试。换句话说，它是一种盈利能力比率，用于衡量公司股东提供的资金回报率。
How Is ROE Calculated?
净资产收益率怎么计算？
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 Pool is:
所以，根据上述公式，Pool的ROE为：
32% = US$461m ÷ US$1.4b (Based on the trailing twelve months to June 2024).
32% = 46100万美元 ÷ 14亿美元（截至2024年6月的过去十二个月）。
The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.32.
‘回报’是每年的利润。这意味着，对于每美元股东投资，公司产生0.32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？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. 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.
到目前为止，我们已经学到 ROE（净资产收益率）可以衡量公司盈利的效率。具体取决于公司再投资或“保留”多少这些利润，以及其有效程度，我们便能够评估公司的盈利增长潜力。假设其他条件相同，ROE和利润保留率都较高的公司通常比不具备这些特征的公司增长率更高。
A Side By Side comparison of Pool's Earnings Growth And 32% ROE
股票收益增长和32%的roe的对比结果如下：
Firstly, we acknowledge that Pool has a significantly high ROE. Secondly, even when compared to the industry average of 12% the company's ROE is quite impressive. This likely paved the way for the modest 15% net income growth seen by Pool over the past five years.
首先，我们承认Pool的ROE非常高。其次，即使与行业平均水平12%相比，该公司的ROE也非常令人印象深刻。这很可能导致Pool在过去五年中净利润增长15%，这个增长速度较为稳健。
We then compared Pool's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 22% in the same 5-year period, which is a bit concerning.
我们还将Pool的净利润增长与行业进行了比较，并发现公司的增长率较同一5年期间的行业平均增长率22%要低，这有些令人担忧。
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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Pool fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增长是估值股票时需要考虑的重要指标。投资者接下来需要判断的是，预期的盈利增长，或者缺乏盈利增长，是否已经融入了股价中。通过这样做，他们将了解股票是走向明朗未来，还是即将面临泥泞的未来。与其他公司相比，泳池是否被合理估值？这3个估值指标可能会帮助您做出决定。
Is Pool Using Its Retained Earnings Effectively?
泳池是否有效利用其留存利润？
Pool has a low three-year median payout ratio of 20%, meaning that the company retains the remaining 80% of its profits. This suggests that the management is reinvesting most of the profits to grow the business.
泳池的三年中位数低至20%的股息支付比率意味着公司留下其80%的利润。这表明管理层将大部分利润用于业务增长。
Additionally, Pool has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to rise to 42% over the next three years.
此外，泳池在至少十年的时间里支付股息，这意味着公司非常重视与股东分享利润。在研究最新的分析师一致数据后，我们发现公司未来的股息支付比率预计将在未来三年内上升至42%。
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 feel that Pool's performance has been quite good. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see a good amount of growth in its earnings. 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. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
总体来看，我们认为Pool的表现相当不错。具体来说，我们喜欢公司以高回报率再投资其利润的巨额部分。当然，这导致公司的收益出现了很大的增长。鉴于此，对最新分析师预测的研究显示，预计该公司未来的收益增长将放缓。要了解更多关于公司未来收益增长预测的信息，请查看此免费报告，以了解更多。
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