Grocery Outlet Holding Corp. (NASDAQ:GO) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
Grocery Outlet Holding Corp. (NASDAQ:GO) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
With its stock down 19% over the past three months, it is easy to disregard Grocery Outlet Holding (NASDAQ:GO). 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. In this article, we decided to focus on Grocery Outlet Holding's ROE.
在過去三個月中,其股價下跌了19%,因此很容易忽視雜貨直銷控股公司(納斯達克股票代碼:GO)。但是,如果你密切關注,你可能會發現其關鍵財務指標看起來相當不錯,鑑於市場通常會獎勵更具彈性的長期基本面,這可能意味着該股有可能長期上漲。在本文中,我們決定重點關注雜貨直銷控股公司的投資回報率。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股本回報率或投資回報率是股東需要考慮的重要因素,因爲它可以告訴他們資本再投資的有效性。簡而言之,它衡量公司相對於股東權益的盈利能力。
See our latest analysis for Grocery Outlet Holding
查看我們對雜貨店控股的最新分析
How Is ROE Calculated?
ROE 是如何計算的?
The formula for ROE is:
這個 投資回報率的公式 是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤(來自持續經營業務)÷ 股東權益
So, based on the above formula, the ROE for Grocery Outlet Holding is:
因此,根據上述公式,雜貨店奧特萊斯控股的投資回報率爲:
6.1% = US$72m ÷ US$1.2b (Based on the trailing twelve months to July 2023).
6.1% = 7200萬美元 ¥12億美元(基於截至2023年7月的過去十二個月)。
The 'return' is the amount earned after tax over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.06 in profit.
“回報” 是過去十二個月的稅後收入。這意味着,公司每獲得價值1美元的股東權益,就會產生0.06美元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
投資回報率與收益增長之間有什麼關係?
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 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.
到目前爲止,我們已經了解到,投資回報率衡量的是公司創造利潤的效率。現在,我們需要評估公司再投資或 “保留” 了多少利潤以用於未來的增長,從而使我們對公司的增長潛力有所了解。假設其他條件都一樣,與功能不相同的公司相比,具有更高股本回報率和更高利潤保留率的公司通常具有更高的增長率。
A Side By Side comparison of Grocery Outlet Holding's Earnings Growth And 6.1% ROE
雜貨直銷控股公司的收益增長和6.1%的投資回報率的並行比較
When you first look at it, Grocery Outlet Holding's ROE doesn't look that attractive. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 16% either. However, we we're pleasantly surprised to see that Grocery Outlet Holding grew its net income at a significant rate of 25% in the last five years. So, 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.
當你第一次看的時候,Grocery Outlet Holding的投資回報率看起來並不那麼吸引人。一項快速的進一步研究表明,與行業平均水平的16%相比,該公司的投資回報率也不佳。但是,我們驚喜地看到,Grocery Outlet Holding在過去五年中其淨收入以25%的顯著速度增長。因此,可能還有其他方面對公司的收益增長產生積極影響。例如,該公司的支付率較低或正在得到有效的管理。
Next, on comparing with the industry net income growth, we found that Grocery Outlet Holding's growth is quite high when compared to the industry average growth of 12% in the same period, which is great to see.
接下來,與行業淨收入增長相比,我們發現Grocery Outlet Holding的增長相當高,而同期的行業平均增長率爲12%,這很高興看到。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231028/0-723a8fab7173a1be7c639cf9b6d68460-0-02c40dc8dbe8ce3e6cd77615272427e9.png/big)
Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. What is GO worth today? The intrinsic value infographic in our free research report helps visualize whether GO is currently mispriced by the market.
收益增長是估值股票時要考慮的重要指標。對於投資者來說,重要的是要知道市場是否影響了公司的預期收益增長(或下降)。然後,這可以幫助他們確定股票是面向光明還是黯淡的未來。今天的 GO 值多少錢?我們的免費研究報告中的內在價值信息圖有助於直觀地了解市場目前是否對GO進行了錯誤的定價。
Is Grocery Outlet Holding Using Its Retained Earnings Effectively?
雜貨店控股公司是否在有效使用其留存收益?
Grocery Outlet Holding doesn't pay any dividend to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
Grocery Outlet Holding不向股東支付任何股息,這意味着該公司一直在將其所有利潤再投資於該業務。這可能是推動上述高收益增長數字的原因。
Summary
摘要
In total, it does look like Grocery Outlet Holding has some positive aspects to its business. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. 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.
總的來說,Grocery Outlet Holding的業務確實有一些積極的方面。儘管回報率很低,但由於對業務進行了大量再投資,該公司仍實現了可觀的收益增長。話雖如此,正如當前分析師估計的那樣,該公司的收益增長預計將放緩。這些分析師的預期是基於對該行業的廣泛預期,還是基於公司的基本面?點擊此處進入我們分析師對公司的預測頁面。
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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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Simply Wall St的這篇文章本質上是籠統的。 我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。 它不構成買入或賣出任何股票的建議,也沒有考慮您的目標或財務狀況。我們的目標是爲您提供由基本面數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。簡而言之,華爾街在上述任何股票中都沒有頭寸。