Will Weakness in Ermenegildo Zegna N.V.'s (NYSE:ZGN) Stock Prove Temporary Given Strong Fundamentals?
Will Weakness in Ermenegildo Zegna N.V.'s (NYSE:ZGN) Stock Prove Temporary Given Strong Fundamentals?
Ermenegildo Zegna (NYSE:ZGN) has had a rough three months with its share price down 9.5%. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. In this article, we decided to focus on Ermenegildo Zegna's ROE.
Ermenegildo Zegna(NYSE:ZGN)的股價在過去三個月裏下跌了9.5%。然而,深入研究其穩健的財務狀況可能會使你重新考慮。鑑於基本面通常驅動長期市場結果,這家公司值得關注。在本文中,我們決定重點關注Ermenegildo Zegna的ROE。
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 short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股東必須考慮股本回報率或ROE,因爲它告訴他們公司如何有效地重新投資他們的資本。 簡而言之,ROE顯示每美元股東投資所產生的利潤。
How To Calculate Return On Equity?
如何計算股東權益報酬率?
ROE can be calculated by using the formula:
淨資產收益率可以使用以下公式進行計算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤(從持續經營中獲得)÷ 股東權益
So, based on the above formula, the ROE for Ermenegildo Zegna is:
因此,根據上述公式,Ermenegildo Zegna的ROE爲:
15% = €136m ÷ €901m (Based on the trailing twelve months to December 2023).
15%=136百萬歐元÷901百萬歐元(基於截至2023年12月的過去十二個月)。
The 'return' is the income the business earned over the last year. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.15 in profit.
'回報'是企業過去一年所獲得的收入。另一種思考方式是,對於每1美元的股權,公司能夠獲得0.15美元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
既然我們已經確定ROE是一種有效的利潤生成標準,用於評估公司未來的盈利能力,我們現在需要評估公司“保留”爲未來增長而重新投資的利潤多少,這使我們對公司的增長潛力有了一個了解。一般而言,在其他條件相等的情況下,ROE和利潤留存高的公司,增長率比沒有這些屬性的公司要高。
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. 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.
到目前爲止,我們已經了解了ROE衡量公司產生利潤的效率。現在,我們需要評估公司爲未來增長“留存”的利潤或“保留”多少,這就讓我們對公司的增長潛力有了一個想法。一般來說,其他條件相同的情況下,ROE和利潤保留較高的公司比沒有這些屬性的公司具有更高的增長率。
Ermenegildo Zegna's Earnings Growth And 15% ROE
Ermenegildo Zegna的盈利增長和15%的ROE
To begin with, Ermenegildo Zegna seems to have a respectable ROE. Further, the company's ROE compares quite favorably to the industry average of 11%. Probably as a result of this, Ermenegildo Zegna was able to see a decent growth of 20% over the last five years.
首先,Ermenegildo Zegna的ROE似乎相當可觀。此外,該公司的ROE與行業平均水平相比非常有利。可能由於這個原因,Ermenegildo Zegna在過去五年中實現了20%的不錯增長。
Next, on comparing with the industry net income growth, we found that Ermenegildo Zegna's growth is quite high when compared to the industry average growth of 16% in the same period, which is great to see.
接下來,我們與行業淨收入增長相比較,發現Ermenegildo Zegna的增長相當高,而同期行業平均增長爲16%,這是非常好的。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240526/0-ba6281b2d366acd9e55d15f338b51fd9-0-62eb7e62735d1f3cd836ca997dbfc751.png/big)
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Ermenegildo Zegna's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
爲了評估一家公司的價值,在很大程度上與其盈利增長有關。投資者應該嘗試確定預期的盈利增長或下降是否已經被定價。這將有助於他們確定該股票的未來前景是看漲還是看跌。如果你想知道Ermenegildo Zegna的估值,請查看其市盈率與行業相比的評估標準。
Is Ermenegildo Zegna Using Its Retained Earnings Effectively?
Ermenegildo Zegna是否有效利用了其未分配利潤?
In Ermenegildo Zegna's case, its respectable earnings growth can probably be explained by its low three-year median payout ratio of 24% (or a retention ratio of 76%), which suggests that the company is investing most of its profits to grow its business.
在Ermenegildo Zegna的情況下,其可觀的盈利增長可能可以解釋爲其三年低中位數的股息支付比率爲24%(或76%的保留比率),這意味着公司將其大部分利潤投資於業務增長。
While Ermenegildo Zegna has been growing its earnings, it only recently started to pay dividends which likely means that the company decided to impress new and existing shareholders with a dividend. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 33% over the next three years. Regardless, the ROE is not expected to change much for the company despite the higher expected payout ratio.
雖然Ermenegildo Zegna的盈利正在增長,但它最近才開始支付股息,這可能意味着公司決定以股息讓新老股東印象深刻。我們的最新分析師數據顯示,儘管預期的股息支付比率將會增加,但ROE不太可能發生很大變化。
Summary
總的來說,我們對偉明環保的表現非常滿意。具體而言,我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然,這導致公司的收益大幅增長。但是,最新的行業分析師預測表明,該公司的收益預計將加速增長。
On the whole, we feel that Ermenegildo Zegna'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 substantial growth in its earnings. 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.
總的來說,我們認爲Ermenegildo Zegna的表現相當不錯。特別是,我們喜歡公司通過高回報率重新投資其巨額利潤,從而導致其盈利大幅增長。當然,最新的行業分析師預測顯示,該公司的盈利增長預計將放緩。了解更多關於該公司的最新分析師預測,請查看此可視化分析師預測。
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。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。Simply Wall St沒有任何股票頭寸。