Declining Stock and Decent Financials: Is The Market Wrong About Duolingo, Inc. (NASDAQ:DUOL)?
Declining Stock and Decent Financials: Is The Market Wrong About Duolingo, Inc. (NASDAQ:DUOL)?
It is hard to get excited after looking at Duolingo's (NASDAQ:DUOL) recent performance, when its stock has declined 16% over the past month. However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. In this article, we decided to focus on Duolingo's ROE.
纵观Duolingo（纳斯达克：DUOL）近期表现，股价在过去一个月下跌了16％，很难感到兴奋。但是，该公司的基本面看起来还不错，长期财务状况通常与未来的市场价格走势相一致。本文将重点关注Duolingo的ROE。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
净资产收益率（roe）是衡量公司经营管理层如何有效利用公司资本的关键指标。换言之，它是一种利润率，衡量由公司股东提供的资本的回报率。
How To Calculate Return On Equity?
如何计算股东权益报酬率？
Return on equity can be calculated by using the formula:
股东权益报酬率可以使用以下公式计算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润（从持续经营中获得）÷ 股东权益
So, based on the above formula, the ROE for Duolingo is:
因此，根据上述公式，Duolingo的ROE为：
6.4% = US$46m ÷ US$711m (Based on the trailing twelve months to March 2024).
6.4％= 4600万美元÷ 71100万美元（基于截至2024年3月的过去12个月）。
The 'return' is the yearly profit. That means that for every $1 worth of shareholders' equity, the company generated $0.06 in profit.
“回报”是年度利润。这意味着，每1美元的股东权益，公司可以创造0.06美元的利润。
What Is The Relationship Between ROE And Earnings Growth?
既然我们已经确定ROE是一种有效的利润生成标准，用于评估公司未来的盈利能力，我们现在需要评估公司“保留”为未来增长而重新投资的利润多少，这使我们对公司的增长潜力有了一个了解。一般而言，在其他条件相等的情况下，ROE和利润留存高的公司，增长率比没有这些属性的公司要高。
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. 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.
因此，我们已经了解到roe是衡量公司利润率的有效方法。根据公司重新投资或“保留”这些收益的程度以及其有效程度，我们就能评估公司的盈利增长潜力。假设其他条件相同，权益回报率和利润保留越高的公司通常比没有相同特点的公司具有更快的增长率。
A Side By Side comparison of Duolingo's Earnings Growth And 6.4% ROE
Duolingo盈利增长率和6.4％ROE的并排比较
On the face of it, Duolingo's ROE is not much to talk about. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 14% either. Duolingo was still able to see a decent net income growth of 19% over the past five years. We reckon that there could 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，Duolingo的ROE并不值得一提。进一步的研究显示，该公司的ROE与行业平均水平14％也不相匹配。在过去的五年中，Duolingo仍然能够看到19％的净收入增长。我们认为这里可能有其他因素。例如，公司管理层可能会做出一些良好的战略决策，或者公司具有较低的派息比率。
As a next step, we compared Duolingo's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 19% in the same period.
作为下一步，我们将Duolingo的净收入增长与行业进行了比较，并发现该公司与同期19％的行业平均增长率具有类似的增长数据。
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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Duolingo fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增长是股票估值的一个重要因素。投资者应该尝试确定是否为预期的盈利增长或下降，无论哪种情况，价格已定。通过这样做，他们将知道股票是否进入清晰的蓝色水域，还是等待泥泞的水域。Duolingo相对于其他公司的估值合理吗？这3个估值指标可能会帮助您做出决定。
Is Duolingo Making Efficient Use Of Its Profits?
Duolingo是否有效地利用了其利润？
Duolingo doesn't pay any regular dividends, meaning that all of its profits are being reinvested in the business, which explains the fair bit of earnings growth the company has seen.
Duolingo没有支付任何定期股息，这意味着其所有利润都正在被再投资于业务中，这解释了该公司看到的相当大的盈利增长。
Summary
总的来说，我们对伟明环保的表现非常满意。具体而言，我们喜欢公司以高回报率再投资了其利润的很大一部分。当然，这导致公司的收益大幅增长。但是，最新的行业分析师预测表明，该公司的收益预计将加速增长。
On the whole, we do feel that Duolingo has some positive attributes. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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.
总体而言，我们认为Duolingo具有一些积极特点。虽然ROE较低，但以较高的再投资率为代价，该公司成功地实现了可观的盈利增长。尽管如此，在查看当前的分析师预期时，我们发现该公司的盈利有望获得势头。要了解有关该公司未来盈利增长预测的更多信息，请查看这份有关公司分析师预测的免费报告。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
对本文有反馈？对内容感到担忧？请直接与我们联系。或者，发送电子邮件至editorial-team (at) simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论，只使用公正的方法论，我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议，也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意，我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有反馈？对内容感到担忧？请直接与我们联系。或者，发送电子邮件至editorial-team@simplywallst.com。