Is The Market Rewarding CoStar Group, Inc. (NASDAQ:CSGP) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?
Is The Market Rewarding CoStar Group, Inc. (NASDAQ:CSGP) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?
With its stock down 7.5% over the past three months, it is easy to disregard CoStar Group (NASDAQ:CSGP). We, however decided to study the company's financials to determine if they have got anything to do with the price decline. Fundamentals usually dictate market outcomes so it makes sense to study the company's financials. In this article, we decided to focus on CoStar Group's ROE.
在過去三個月中,它的股價下跌了7.5%,很容易忽視納斯達克的中光學集團(NASDAQ:CSGP)。然而,我們決定研究公司的財務狀況,以確定它們是否與股價下跌有關。基本面通常決定市場走勢,因此研究公司的財務狀況是有道理的。在本文中,我們決定把重點放在中光學集團的roe上。
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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股東應考慮的重要因素是淨資產收益率或roe,因爲它告訴他們投資的資本如何被有效地再投資。簡單來說,它用於評估公司與其股權資本相關的盈利能力。
How To Calculate Return On Equity?
如何計算股東權益報酬率?
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 CoStar Group is:
所以,根據上述公式,CoStar Group的roe爲:
2.9% = US$213m ÷ US$7.4b (Based on the trailing twelve months to June 2024).
2.9% = 2.13億美元 ÷ 74億美元(根據截至2024年6月的過去12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 $0.03 in profit.
「回報」指的是公司過去一年的收益。這意味着對於每1美元的股東權益,公司產生了0.03美元的利潤。
What Has ROE Got To Do With Earnings Growth?
roe與盈利增長有何關係?
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,roe可以作爲一種有效的衡量公司未來盈利能力的指標。現在我們需要評估公司再投資或「保留」的利潤有多少,這就給我們提供了有關公司增長潛力的想法。假設其他一切不變,roe和利潤保留率越高,公司的增長率就越高,而不一定具備這些特徵的公司相比。
CoStar Group's Earnings Growth And 2.9% ROE
中光學的盈利增長和2.9%的roe
It is hard to argue that CoStar Group's ROE is much good in and of itself. Even when compared to the industry average of 5.9%, the ROE figure is pretty disappointing. Thus, the low net income growth of 4.0% seen by CoStar Group over the past five years could probably be the result of it having a lower ROE.
很難說中光學的roe本身有多好。甚至與5.9%的行業平均水平相比,roe的數據令人失望。因此,在過去五年中,中光學淨利潤增長只有4.0%,可能是由於其roe較低造成的。
We then compared CoStar Group's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 7.5% in the same 5-year period, which is a bit concerning.
然後我們將中光學的淨利潤增長與行業進行了對比,發現該公司的增長速度低於同一5年期間行業的平均增長率7.5%,這有點令人擔憂。
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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). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is CSGP fairly valued? This infographic on the company's intrinsic value has everything you need to know.
盈利增長是股票估值中的一個重要因素。投資者了解市場是否已經將公司預期的盈利增長(或下降)計入股價非常重要。通過這樣做,他們將知道股票是朝着明朗的藍天還是即將陷入泥濘的水域前進。CSGP是否被公允估值?關於公司內在價值的信息圖表上有您需要了解的一切。
Is CoStar Group Efficiently Re-investing Its Profits?
CoStar Group是否有效地重新投資其利潤?
CoStar Group doesn't pay any regular dividends, which means that it is retaining all of its earnings. However, this doesn't explain the low earnings growth the company has seen. Therefore, there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
CoStar Group不支付任何定期股息,這意味着它保留了所有的利潤。然而,這並不能解釋公司所見到的低盈利增長。因此,可能還有其他原因來解釋這種缺乏。例如,業務可能正在下滑。
Conclusion
結論
In total, we're a bit ambivalent about CoStar Group's performance. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. 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.
總體上,我們對CoStar Group的業績持有一種矛盾的觀點。儘管它似乎保留了大部分利潤,但考慮到低ROE,投資者可能並沒有從所有的再投資中受益。低盈利增長支持了我們的理論。然而,根據當前的分析師預測,我們發現公司的盈利有望獲得動力。想要了解更多關於公司未來盈利增長預測的信息,請查看這份免費的分析師報告。
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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。