Are Robust Financials Driving The Recent Rally In Saia, Inc.'s (NASDAQ:SAIA) Stock?
Are Robust Financials Driving The Recent Rally In Saia, Inc.'s (NASDAQ:SAIA) Stock?
Saia's (NASDAQ:SAIA) stock is up by a considerable 23% over the past three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. Particularly, we will be paying attention to Saia's ROE today.
赛亚（纳斯达克股票代码：SAIA）的股票在过去三个月中上涨了23％。由于市场通常会为公司的长期基本面买单，因此我们决定研究公司的关键绩效指标，看看它们是否会影响市场。特别是，我们今天将关注Saia的投资回报率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
股本回报率或投资回报率是对公司增值和管理投资者资金的有效性的考验。换句话说，它是衡量公司股东提供的资本回报率的盈利比率。
How Is ROE Calculated?
ROE 是如何计算的？
The formula for ROE is:
ROE 的公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润（来自持续经营业务）÷ 股东权益
So, based on the above formula, the ROE for Saia is:
因此，根据上述公式，Saia的投资回报率为：
18% = US$355m ÷ US$1.9b (Based on the trailing twelve months to December 2023).
18% = 3.55亿美元 ÷ 19亿美元（基于截至2023年12月的过去十二个月）。
The 'return' refers to a company's earnings over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.18.
“回报” 是指公司去年的收益。因此，这意味着其股东每投资1美元，公司就会产生0.18美元的利润。
Why Is ROE Important For Earnings Growth?
为什么投资回报率对收益增长很重要？
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. 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.
我们已经确定，投资回报率是衡量公司未来收益的有效盈利指标。现在，我们需要评估公司再投资或 “保留” 了多少利润以用于未来的增长，从而使我们对公司的增长潜力有所了解。一般而言，在其他条件相同的情况下，股本回报率和利润留存率高的公司的增长率要高于不具有这些属性的公司。
Saia's Earnings Growth And 18% ROE
Saia的收益增长和18％的投资回报率
At first glance, Saia seems to have a decent ROE. On comparing with the average industry ROE of 14% the company's ROE looks pretty remarkable. This certainly adds some context to Saia's exceptional 30% net income growth seen over the past five years. We reckon that there could also 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，Saia的投资回报率似乎不错。与行业平均投资回报率为14％相比，该公司的投资回报率看起来相当可观。这无疑为Saia在过去五年中惊人的30％净收入增长增添了一些背景信息。我们认为，这里可能还有其他因素在起作用。例如，公司的管理层可能做出了一些良好的战略决策，或者公司的派息率很低。
We then compared Saia'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 14% in the same 5-year period.
然后，我们将Saia的净收入增长与该行业进行了比较，我们很高兴地看到，与该行业相比，该公司的增长数字更高，该行业在同期的5年增长率为14％。
Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. Is Saia fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增长是对股票进行估值时要考虑的重要指标。无论如何，投资者应设法确定预期的收益增长或下降是否已计入其中。这样做将帮助他们确定股票的未来是乐观还是不祥的。与其他公司相比，Saia的估值是否合理？这3种估值指标可能会帮助您做出决定。
Is Saia Making Efficient Use Of Its Profits?
Saia 是否在有效利用其利润？
Saia doesn't pay any regular dividends currently which essentially means that it has been reinvesting all of its profits into the business. This definitely contributes to the high earnings growth number that we discussed above.
Saia目前不支付任何定期分红，这实质上意味着它一直在将所有利润再投资于该业务。这无疑促成了我们上面讨论的高收益增长数字。
Conclusion
结论
In total, we are pretty happy with Saia's performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. 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.
总的来说，我们对赛亚的表现非常满意。特别是，我们喜欢该公司对其业务进行大量再投资，而且回报率很高。毫不奇怪，这带来了令人印象深刻的收益增长。既然如此，对分析师最新预测的研究表明，预计该公司未来的收益增长将放缓。要了解有关公司未来收益增长预测的更多信息，请查看这份免费的分析师预测报告，以了解更多信息。
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