Has AerSale Corporation's (NASDAQ:ASLE) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
Has AerSale Corporation's (NASDAQ:ASLE) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
AerSale (NASDAQ:ASLE) has had a great run on the share market with its stock up by a significant 7.2% over the last week. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to study its financial indicators more closely to see if they had a hand to play in the recent price move. In this article, we decided to focus on AerSale's ROE.
AerSale(納斯達克股票代碼:ASLE)在股市上表現良好,其股票在上週大幅上漲了7.2%。鑑於股價通常與公司的長期財務業績保持一致,我們決定更仔細地研究其財務指標,看看它們在最近的價格變動中是否有作用。在本文中,我們決定重點關注AerSale的投資回報率。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回報率或投資回報率是用於評估公司管理層利用公司資本效率的關鍵指標。簡而言之,它用於評估公司相對於其股權資本的盈利能力。
See our latest analysis for AerSale
查看我們對 AerSale 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 return on equity is:
股本回報率的公式是:
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 AerSale is:
因此,根據上述公式,AerSale的投資回報率爲:
1.4% = US$6.4m ÷ US$451m (Based on the trailing twelve months to September 2023).
1.4% = 640萬美元 ¥4.51億美元(基於截至2023年9月的過去十二個月)。
The 'return' is the yearly profit. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.01 in profit.
“回報” 是每年的利潤。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0.01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. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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,我們已經了解到,投資回報率衡量的是公司創造利潤的效率。根據公司選擇將多少利潤進行再投資或 “保留”,我們便能夠評估公司未來創造利潤的能力。一般而言,在其他條件相同的情況下,股本回報率和利潤留存率高的公司的增長率要高於不具有這些屬性的公司。
AerSale's Earnings Growth And 1.4% ROE
AerSale 的收益增長和 1.4% 的投資回報率
It is quite clear that AerSale's ROE is rather low. Not just that, even compared to the industry average of 12%, the company's ROE is entirely unremarkable. In spite of this, AerSale was able to grow its net income considerably, at a rate of 54% in the last five years. We believe that there might be other aspects that are positively influencing the company's earnings growth. 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.
很明顯,AerSale的投資回報率相當低。不僅如此,即使與12%的行業平均水平相比,該公司的投資回報率也完全不起眼。儘管如此,AerSale還是能夠大幅增長其淨收入,在過去五年中以54%的速度增長。我們認爲,可能還有其他方面對公司的收益增長產生積極影響。例如,公司的管理層可能做出了一些良好的戰略決策,或者公司的支付率很低。
We then compared AerSale'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 4.8% in the same 5-year period.
然後,我們將AerSale的淨收入增長與該行業進行了比較,我們很高興地看到,與同期5年同期增長率爲4.8%的行業相比,該公司的增長數字更高。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231208/0-a2cb523c81b7353d3331206286a77a63-0-229a2911778563a5da756acdd93852da.png/big)
Earnings growth is a huge factor in stock valuation. 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. Is ASLE fairly valued? This infographic on the company's intrinsic value has everything you need to know.
收益增長是股票估值的重要因素。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。ASLE 的估值是否公平?這張關於公司內在價值的信息圖包含了你需要知道的一切。
Is AerSale Using Its Retained Earnings Effectively?
AerSale 是否在有效使用其留存收益?
AerSale 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.
AerSale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。這可能是推動上面討論的高收益增長數字的原因。
Conclusion
結論
In total, it does look like AerSale has some positive aspects to its business. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. 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,看來AerSale的業務確實有一些積極的方面。儘管投資回報率很低,但由於再投資率很高,該公司的收益卻取得了可觀的增長。話雖如此,最新的行業分析師預測顯示,該公司的收益預計將加速。要詳細了解分析師對公司的最新預測,請查看分析師對公司的預測的可視化。
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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。