The Buckle, Inc.'s (NYSE:BKE) Stock Been Rising: Are Strong Financials Guiding The Market?
The Buckle, Inc.'s (NYSE:BKE) Stock Been Rising: Are Strong Financials Guiding The Market?
Buckle's (NYSE:BKE) stock is up by 4.2% over the past week. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. In this article, we decided to focus on Buckle's ROE.
巴克爾（紐約證券交易所代碼：BKE）的股票在過去一週上漲了4.2％。鑑於從長遠來看，市場會獎勵強勁的財務狀況，我們想知道在這種情況下是否如此。在這篇文章中，我們決定重點介紹 Buckle 的投資回報率。
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. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回報率或投資回報率是股東需要考慮的重要因素，因爲它可以告訴他們資本再投資的有效性。換句話說，它揭示了公司成功地將股東投資轉化爲利潤。
How To Calculate Return On Equity?
如何計算股本回報率？
The formula for ROE is:
ROE 的公式是：
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 Buckle is:
因此，根據上述公式，Buckle的投資回報率爲：
53% = US$220m ÷ US$413m (Based on the trailing twelve months to February 2024).
53% = 2.2億美元 ÷ 4.13億美元（基於截至2024年2月的過去十二個月）。
The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.53 in profit.
“回報” 是過去十二個月的利潤。對此進行概念化的一種方法是，該公司每擁有1美元的股東資本，就能獲得0.53美元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
投資回報率與收益增長之間有什麼關係？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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.
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。現在，我們需要評估公司再投資或 “保留” 了多少利潤以用於未來的增長，從而使我們對公司的增長潛力有所了解。假設其他一切保持不變，那麼與不一定具有這些特徵的公司相比，投資回報率和利潤保留率越高，公司的增長率就越高。
Buckle's Earnings Growth And 53% ROE
Buckle 的收益增長和 53% 的投資回報率
To begin with, Buckle has a pretty high ROE which is interesting. Second, a comparison with the average ROE reported by the industry of 19% also doesn't go unnoticed by us. So, the substantial 23% net income growth seen by Buckle over the past five years isn't overly surprising.
首先，Buckle的投資回報率相當高，這很有趣。其次，與該行業報告的平均投資回報率爲19％的比較也不會被我們忽視。因此，巴克爾在過去五年中實現了23％的淨收入大幅增長並不令人驚訝。
Next, on comparing Buckle's net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 24% over the last few years.
接下來，在將Buckle的淨收入增長與該行業進行比較時，我們發現該公司報告的增長與過去幾年24％的行業平均增長率相似。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Is BKE fairly valued? This infographic on the company's intrinsic value has everything you need to know.
爲公司附加價值的基礎在很大程度上與其收益增長息息相關。無論如何，投資者應設法確定預期的收益增長或下降是否已計入其中。然後，這可以幫助他們確定股票是面向光明還是暗淡的未來。BKE 估值合理嗎？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 Buckle Efficiently Re-investing Its Profits?
Buckle 是否有效地將利潤再投資？
The three-year median payout ratio for Buckle is 27%, which is moderately low. The company is retaining the remaining 73%. So it seems that Buckle is reinvesting efficiently in a way that it sees impressive growth in its earnings (discussed above) and pays a dividend that's well covered.
Buckle的三年派息率中位數爲27％，略低。該公司保留了剩餘的73％。因此，看來Buckle正在高效地進行再投資，其收益增長令人印象深刻（如上所述），並支付的股息覆蓋範圍廣。
Additionally, Buckle has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to rise to 105% over the next three years. However, the company's ROE is not expected to change by much despite the higher expected payout ratio.
此外，Buckle在至少十年的時間內支付了股息，這意味着該公司非常認真地與股東分享利潤。在研究了分析師的最新共識數據後，我們發現該公司的未來派息率預計將在未來三年內升至105％。但是，儘管預期的派息率較高，但該公司的投資回報率預計不會有太大變化。
Summary
摘要
Overall, we are quite pleased with Buckle's performance. 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. With that said, on studying the latest analyst forecasts, we found that while the company has seen growth in its past earnings, analysts expect its future earnings to shrink. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總的來說，我們對Buckle的表現非常滿意。具體而言，我們喜歡該公司以高回報率再投資其利潤的很大一部分。當然，這導致該公司的收益大幅增長。話雖如此，在研究最新的分析師預測時，我們發現，儘管該公司過去的收益有所增長，但分析師預計其未來收益將萎縮。要詳細了解分析師對公司的最新預測，請查看該公司的分析師預測的可視化。
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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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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論，我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議，也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意，我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之，華爾街沒有持有任何上述股票的頭寸。
譯文內容由第三人軟體翻譯。