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Is Dycom Industries, Inc.'s (NYSE:DY) Latest Stock Performance A Reflection Of Its Financial Health?

Is Dycom Industries, Inc.'s (NYSE:DY) Latest Stock Performance A Reflection Of Its Financial Health?

是 Dycom Industries, Inc. 's (NYSE: DY) 最新股票表現反映了其財務狀況?
Simply Wall St ·  2023/11/29 02:53

Dycom Industries (NYSE:DY) has had a great run on the share market with its stock up by a significant 18% over the last month. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. Particularly, we will be paying attention to Dycom Industries' ROE today.

Dycom Industries(紐約證券交易所代碼:DY)在股市上表現良好,其股票比上個月大幅上漲了18%。由於市場通常會爲公司的長期基本面買單,因此我們決定研究公司的關鍵績效指標,看看它們是否會影響市場。特別是,我們今天將關注Dycom Industries的投資回報率。

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Put another way, it reveals the company's success at turning shareholder investments into profits.

股本回報率或投資回報率是對公司增值和管理投資者資金的有效性的考驗。換句話說,它揭示了公司成功地將股東投資轉化爲利潤。

Check out our latest analysis for Dycom Industries

查看我們對戴康工業的最新分析

How Do You Calculate Return On Equity?

你如何計算股本回報率?

The formula for ROE is:

ROE 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 Dycom Industries is:

因此,根據上述公式,戴康工業的投資回報率爲:

21% = US$220m ÷ US$1.1b (Based on the trailing twelve months to October 2023).

21% = 2.2億美元 ¥11億美元(基於截至2023年10月的過去十二個月)。

The 'return' refers to a company's earnings over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.21 in profit.

“回報” 是指公司去年的收益。將其概念化的一種方法是,公司每擁有1美元的股東資本,就能獲得0.21美元的利潤。

Why Is ROE Important For Earnings Growth?

爲什麼投資回報率對收益增長很重要?

We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.

我們已經確定,投資回報率是衡量公司未來收益的有效利潤創造指標。我們現在需要評估公司爲未來增長再投資或 “保留” 了多少利潤,這樣我們就可以了解公司的增長潛力。假設其他一切都保持不變,那麼與不一定具有這些特徵的公司相比,投資回報率和利潤保留率越高,公司的增長率就越高。

A Side By Side comparison of Dycom Industries' Earnings Growth And 21% ROE

Dycom Industries的收益增長和21%的投資回報率的並行比較

At first glance, Dycom Industries seems to have a decent ROE. Further, the company's ROE compares quite favorably to the industry average of 11%. Probably as a result of this, Dycom Industries was able to see an impressive net income growth of 29% over the last five years. We reckon that there could also be other factors at play here. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.

乍一看,Dycom Industries的投資回報率似乎不錯。此外,該公司的投資回報率與行業平均水平的11%相比相當不錯。可能正因爲如此,Dycom Industries在過去五年中實現了令人印象深刻的29%的淨收入增長。我們認爲,這裏可能還有其他因素在起作用。例如,公司的管理層可能已經做出了一些良好的戰略決策,或者公司的支付率很低。

Next, on comparing with the industry net income growth, we found that Dycom Industries' growth is quite high when compared to the industry average growth of 19% 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Dycom Industries的增長相當高,而同期的行業平均增長率爲19%,這很高興看到。

past-earnings-growth
NYSE:DY Past Earnings Growth November 28th 2023
紐約證券交易所:DY 過去的收益增長 2023 年 11 月 28 日

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. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Dycom Industries is trading on a high P/E or a low P/E, relative to its industry.

賦予公司價值的基礎在很大程度上與其收益增長息息相關。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)。通過這樣做,他們將知道這隻股票是進入清澈的藍色海水還是沼澤水域在等着你。衡量預期收益增長的一個很好的指標是市盈率,它根據收益前景決定了市場願意爲股票支付的價格。因此,您可能需要檢查Dycom Industries相對於其行業而言是高市盈率還是低市盈率。

Is Dycom Industries Making Efficient Use Of Its Profits?

Dycom Industries是否在有效利用其利潤?

Dycom Industries doesn't pay any dividend currently which essentially means that it has been reinvesting all of its profits into the business. This definitely contributes to the high earnings growth number that we discussed above.

Dycom Industries目前不支付任何股息,這本質上意味着它一直在將所有利潤再投資於該業務。這無疑有助於我們上面討論的高收益增長。

Conclusion

結論

In total, we are pretty happy with Dycom Industries' performance. 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 substantial 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 latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

總的來說,我們對Dycom Industries的表現感到非常滿意。具體而言,我們喜歡該公司以高回報率將其利潤的很大一部分再投資。當然,這使該公司的收益大幅增長。既然如此,對分析師最新預測的研究表明,預計該公司未來的收益增長將放緩。要了解有關分析師對公司的最新預測的更多信息,請查看分析師對公司的預測的可視化。

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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,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本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型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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