Yelp Inc.'s (NYSE:YELP) Stock's On An Uptrend: Are Strong Financials Guiding The Market?
Yelp Inc.'s (NYSE:YELP) Stock's On An Uptrend: Are Strong Financials Guiding The Market?
Yelp's (NYSE:YELP) stock is up by a considerable 7.4% over the past week. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Specifically, we decided to study Yelp's ROE in this article.
過去一週，Yelp（NYSE：YELP）的股價上漲了7.4％。考慮到市場長期來看會獎勵強勁的財務狀況，我們想知道在這種情況下是不是這樣的情況。具體來說，我們決定在本文中研究Yelp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. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE（淨資產收益率）是股東需考慮的一個重要因素，因爲它告訴他們資本被有效地再投資的效果如何。換句話說，它揭示了公司將股東的投資轉化爲利潤的成功程度。
How Is ROE Calculated?
淨資產收益率怎麼計算？
The formula for ROE is:
roe的公式是：
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 Yelp is:
因此，根據上述公式，Yelp 的roe爲:
16% = US$115m ÷ US$722m (Based on the trailing twelve months to March 2024).
16％= US＄115m ÷ US＄722m（基於截至 2024 年 3 月的過去十二個月）。
The 'return' refers to a company's earnings over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.16 in profit.
“回報”是指公司在過去一年中的收益。這意味着對於每1美元的股東權益，公司產生了0.16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。
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 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.
我們已經確認roe是一個有效的盈利指標，用於衡量公司未來的盈利能力。現在我們需要評估公司爲未來增長重新投資或“保留”的利潤有多少，這將給我們提供有關公司增長潛力的想法。假設其他一切相等，具有更高回報率和更高盈利保留的公司通常比沒有同樣特點的公司具有更高的增長率。
A Side By Side comparison of Yelp's Earnings Growth And 16% ROE
Yelp收益增長與16％的ROE的並列比較
To start with, Yelp's ROE looks acceptable. Especially when compared to the industry average of 7.4% the company's ROE looks pretty impressive. Probably as a result of this, Yelp was able to see an impressive net income growth of 24% over the last five years. We reckon that there could also be other factors at play here. Such as - high earnings retention or an efficient management in place.
首先，Yelp的ROE看起來是可以接受的。特別是與行業平均水平7.4％相比，公司的ROE似乎非常令人印象深刻。可能由於此原因，Yelp在過去五年中看到了可觀的淨收入增長24％。我們認爲這裏可能還有其他因素起作用。例如-高利潤保留率或有效的管理。
We then compared Yelp's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 6.0% in the same 5-year period.
然後，我們將Yelp的淨收入增長與行業進行了比較，很高興地看到公司的增長率在相同的五年期內比行業的增長率6.0％要高。
Earnings growth is a huge factor in stock valuation. 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. Is Yelp fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增長是股票估值的一個重要因素。投資者應該嘗試確定預期的收益增長或下降（無論哪種情況），並確定是否已納入價格。這樣做可以幫助他們確定股票的未來前景。與其他公司相比，Yelp的估值是否合理？這3個估值指標可能會幫助您做出決策。
Is Yelp Using Its Retained Earnings Effectively?
Yelp是否有效利用其保留收益？
Yelp doesn't pay any regular dividends 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.
Yelp不向股東支付任何定期股息，這意味着公司一直在將所有利潤重新投資於業務中。這很可能是上述高收益增長數字的推動力。
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。
Overall, we are quite pleased with Yelp's performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. 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.
總體而言，我們對Yelp的表現感到非常滿意。特別是，看到公司正在大量投資於業務並且具有高回報率，這導致其收益顯着增長。儘管如此，公司的收益增長預計將放緩，根據當前分析師預測。要了解有關公司未來收益增長預測的更多信息，請查看本公司分析師預測的免費報告。
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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.
對本文有反饋？對內容感到擔憂？請直接與我們聯繫。或者，發送電子郵件至editorial-team (at) simplywallst.com。
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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋？對內容感到擔憂？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。