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Declining Stock and Solid Fundamentals: Is The Market Wrong About Acushnet Holdings Corp. (NYSE:GOLF)?

Declining Stock and Solid Fundamentals: Is The Market Wrong About Acushnet Holdings Corp. (NYSE:GOLF)?

股價下跌但基本面依然堅實:市場對Acushnet Holdings Corp.(紐交所:GOLF)錯了嗎?
Simply Wall St ·  09/22 10:44

With its stock down 5.4% over the past month, it is easy to disregard Acushnet Holdings (NYSE:GOLF). But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. Particularly, we will be paying attention to Acushnet Holdings' ROE today.

股價在過去一個月下跌了5.4%,很容易忽視高爾史密斯國際控股(NYSE:GOLF)。但如果您仔細觀察,您可能會認識到其強大的財務狀況可能意味着該股票在長期內有可能價值上漲,因爲市場通常會獎勵財務狀況良好的公司。特別是,我們將關注高爾史密斯國際控股今天的roe。

ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.

roe或權益回報率是評估公司有效利用股東投資產生回報效率的有用工具。簡而言之,roe顯示每個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?

Return on equity can be calculated by using the formula:

股東權益報酬率可以使用以下公式計算:

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 Acushnet Holdings is:

因此,基於上述公式,Acushnet Holdings的ROE爲:

20% = US$185m ÷ US$909m (Based on the trailing twelve months to June 2024).

20% = 美元18500萬 ÷ 美元90900萬(截至2024年6月的過去十二個月)。

The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.20.

「回報」是每年的利潤。因此,這意味着對於股東每投資1美元,公司可以創造0.20美元的利潤。

What Has ROE Got To Do With Earnings Growth?

roe與盈利增長有何關係?

So far, we've learned that ROE is a measure of a company's profitability. 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. 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.

迄今爲止,我們已經了解到roe是公司盈利能力的一種衡量方式。根據公司重新投資或保留這些利潤的數量,以及有效程度,我們能夠評估公司的盈利增長潛力。一般來說,其他條件相同的情況下,具有高roe和盈利保留能力的公司比沒有這些特徵的公司的增長率更高。

A Side By Side comparison of Acushnet Holdings' Earnings Growth And 20% ROE

高爾史密斯國際控股的盈利增長和20%的roe的並排比較

At first glance, Acushnet Holdings seems to have a decent ROE. On comparing with the average industry ROE of 14% the company's ROE looks pretty remarkable. This probably laid the ground for Acushnet Holdings' moderate 16% net income growth seen over the past five years.

乍一看,高爾史密斯國際控股的roe似乎不錯。與行業平均roe比較,該公司的roe看起來相當顯著。這可能爲高爾史密斯國際控股過去五年中適度增長的16%淨利潤奠定了基礎。

As a next step, we compared Acushnet Holdings' net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 13%.

作爲下一步,我們將高爾史密斯國際控股的淨利潤增長與行業進行比較,令人高興的是,我們發現該公司的增長高於行業平均增長13%。

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NYSE:GOLF Past Earnings Growth September 22nd 2024
紐交所:GOLF歷史數據增長2024年9月22日

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Acushnet Holdings is trading on a high P/E or a low P/E, relative to its industry.

公司附加價值的基礎在很大程度上與其盈利增長相關。 對於投資者而言,了解市場是否已經將公司預期的盈利增長(或下降)價格化非常重要。 這有助於他們判斷股票是處於光明還是黯淡的未來。 一個預期盈利增長的良好指標是市盈率,該指標根據盈利前景決定市場願意爲一支股票支付的價格。 因此,您可能希望檢查高爾史密斯國際控股的市盈率是高還是低,相對於其所在的行業板塊。

Is Acushnet Holdings Using Its Retained Earnings Effectively?

高爾史密斯國際控股是否有效利用保留收益?

With a three-year median payout ratio of 26% (implying that the company retains 74% of its profits), it seems that Acushnet Holdings is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.

在三年的中位數支付比率爲26%(暗示公司保留了其利潤的74%)的情況下,高爾史密斯國際控股似乎以一種有效的方式進行再投資,從而實現其盈利的相當可觀的增長,並支付經過良好覆蓋的股息。

Besides, Acushnet Holdings has been paying dividends over a period of eight years. This shows that the company is committed to sharing profits with its shareholders.

此外,高爾史密斯國際控股已經連續八年支付股息。 這表明該公司致力於與股東分享利潤。

Conclusion

結論

On the whole, we feel that Acushnet Holdings' 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. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. 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,我們認爲高爾史密斯國際控股的表現相當不錯。具體來說,我們喜歡這家公司以高回報率再投資其巨額利潤。當然,這導致公司盈利大幅增長。鑑於此,對最新分析師預測的研究顯示,預計該公司未來盈利增長將放緩。要了解更多關於該公司未來盈利增長預測的信息,請查看有關該公司的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.

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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。

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