Qiagen N.V.'s (NYSE:QGEN) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Qiagen N.V.'s (NYSE:QGEN) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Qiagen (NYSE:QGEN) has had a rough three months with its share price down 12%. But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. In this article, we decided to focus on Qiagen's ROE.
Qiagen（紐約證券交易所代碼：QGEN）經歷了艱難的三個月，其股價下跌了12％。但是，如果你密切關注，你可能會發現其關鍵財務指標看起來相當不錯，考慮到市場通常會獎勵更具彈性的長期基本面，這可能意味着該股有可能在長期內上漲。在本文中，我們決定重點關注Qiagen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。
How To Calculate Return On Equity?
如何計算股本回報率？
ROE can be calculated by using the formula:
ROE 可以通過以下公式計算：
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 Qiagen is:
因此，根據上述公式，Qiagen的投資回報率爲：
9.0% = US$341m ÷ US$3.8b (Based on the trailing twelve months to December 2023).
9.0% = 3.41億美元 ÷ 38億美元（基於截至2023年12月的過去十二個月）。
The 'return' is the income the business earned over the last year. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.09 in profit.
“回報” 是企業去年獲得的收入。另一種看法是，每持有價值1美元的股權，該公司就能獲得0.09美元的利潤。
What Has ROE Got To Do With Earnings Growth?
投資回報率與收益增長有什麼關係？
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.
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。然後，我們能夠評估公司的收益增長潛力，具體取決於公司對這些利潤進行再投資或 “保留” 了多少及其有效性。假設其他條件都一樣，與功能不相同的公司相比，具有更高股本回報率和更高利潤保留率的公司通常具有更高的增長率。
A Side By Side comparison of Qiagen's Earnings Growth And 9.0% ROE
Qiagen的收益增長和9.0％的投資回報率的並排比較
When you first look at it, Qiagen's ROE doesn't look that attractive. Next, when compared to the average industry ROE of 12%, the company's ROE leaves us feeling even less enthusiastic. In spite of this, Qiagen was able to grow its net income considerably, at a rate of 30% in the last five years. So, 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.
當你第一次看的時候，Qiagen的投資回報率看起來並不那麼吸引人。接下來，與12％的行業平均投資回報率相比，該公司的投資回報率使我們感到不那麼熱情。儘管如此，Qiagen還是得以大幅增長其淨收入，在過去五年中增長了30％。因此，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，或者公司的派息率很低。
As a next step, we compared Qiagen's 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 16%.
下一步，我們將Qiagen的淨收入增長與該行業進行了比較，令人高興的是，我們發現該公司的增長高於16％的行業平均增長。
Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is QGEN fairly valued? This infographic on the company's intrinsic value has everything you need to know.
收益增長是對股票進行估值時要考慮的重要指標。對於投資者來說，重要的是要知道市場是否對公司的預期收益增長（或下降）進行了定價。這樣做將幫助他們確定股票的未來是樂觀還是不祥的。QGEN 的價值是否合理？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 Qiagen Efficiently Re-investing Its Profits?
Qiagen是否有效地將其利潤再投資？
Qiagen 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.
Qiagen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。這可能是推動上述高收益增長數字的原因。
Summary
摘要
On the whole, we do feel that Qiagen 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. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
總的來說，我們確實認爲Qiagen有一些積極的屬性。儘管投資回報率很低，但由於再投資率很高，該公司的收益實現了可觀的增長。話雖如此，最新的行業分析師預測顯示，該公司的收益增長預計將放緩。這些分析師的預期是基於對該行業的廣泛預期，還是基於公司的基本面？點擊此處進入我們分析師對公司的預測頁面。
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