Are The Cooper Companies, Inc.'s (NASDAQ:COO) Mixed Financials The Reason For Its Gloomy Performance on The Stock Market?
Are The Cooper Companies, Inc.'s (NASDAQ:COO) Mixed Financials The Reason For Its Gloomy Performance on The Stock Market?
It is hard to get excited after looking at Cooper Companies' (NASDAQ:COO) recent performance, when its stock has declined 6.6% over the past three months. It seems that the market might have completely ignored the positive aspects of the company's fundamentals and decided to weigh-in more on the negative aspects. Long-term fundamentals are usually what drive market outcomes, so it's worth paying close attention. In this article, we decided to focus on Cooper Companies' ROE.
考慮到庫珀公司（NASDAQ:COO）近三個月的表現下跌了6.6％，很難爲其感到興奮。市場可能完全忽略了公司基本面的積極方面，並決定更注重負面因素。長期的基本面通常是推動市場結果的因素，因此值得密切關注。在本文中，我們決定關注庫珀醫療的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE，即淨資產收益率，測試一家公司有效增加價值和管理股東資金的能力。換句話說，它揭示了公司將股東投資轉化爲利潤的成功程度。
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 Cooper Companies is:
因此，根據上述公式，庫珀醫療的roe爲：
4.4% = US$340m ÷ US$7.8b (Based on the trailing twelve months to April 2024).
4.4％= 3,400萬美元 ÷ 78億美元（基於截至2024年4月的過去十二個月）。
The 'return' refers to a company's earnings over the last year. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.04 in profit.
'回報'指的是公司在過去一年的收益。另一種思考方式是，對於每1美元的股權，公司能夠賺取0.04美元的利潤。
What Has ROE Got To Do With Earnings Growth?
ROE與盈利增長有什麼關係？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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.
到目前爲止，我們已經了解到ROE衡量公司利潤的效率如何。基於公司選擇再投資或保留多少利潤，我們隨後能夠評估公司未來產生利潤的能力。總的來說，在其他條件相等的情況下，具有高ROE和利潤保留的公司的增長率比沒有這些特徵的公司要高。
A Side By Side comparison of Cooper Companies' Earnings Growth And 4.4% ROE
庫珀醫療收益增長和4.4％的roe相對比的結果
It is quite clear that Cooper Companies' ROE is rather low. Even compared to the average industry ROE of 11%, the company's ROE is quite dismal. For this reason, Cooper Companies' five year net income decline of 8.9% is not surprising given its lower ROE. However, there could also be other factors causing the earnings to decline. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.
很明顯，庫珀醫療的roe相當低。即使與11％的行業平均roe相比，它仍然相當糟糕。因此，考慮到roe偏低，庫珀醫療的淨收入在過去五年中下降了8.9％並不令人驚訝。然而，導致收益下降的其他因素也可能是業務設置資本不善或公司股息支付率非常高。
So, as a next step, we compared Cooper Companies' performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 8.7% over the last few years.
因此，作爲下一步，我們將庫珀醫療的業績與行業進行了比較，並對發現的結果感到失望。雖然公司一直在縮減其收益，但行業在過去幾年中的收益增長率卻達到了8.7％。
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. What is COO worth today? The intrinsic value infographic in our free research report helps visualize whether COO is currently mispriced by the market.
給公司附加價值的基礎很大程度上取決於其收益增長。投資者知道市場是否已經考慮到公司預期的收益增長（或下降）則很重要。這有助於他們判斷股票的前景是明亮還是黯淡。COO今天的價值是多少？我們免費的研究報告中的內在價值信息圖表可以幫助可視化COO是否被市場錯價。
Is Cooper Companies Using Its Retained Earnings Effectively?
庫珀醫療是否有效地利用了保留收益？
While the company did payout a portion of its dividend in the past, it currently doesn't pay a regular dividend. This implies that potentially all of its profits are being reinvested in the business.
雖然該公司過去曾分紅一部分，但目前不支付常規股息。這意味着其所有的利潤都被重新投資於業務中。
Summary
總的來說，我們對偉明環保的表現非常滿意。具體而言，我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然，這導致公司的收益大幅增長。但是，最新的行業分析師預測表明，該公司的收益預計將加速增長。
In total, we're a bit ambivalent about Cooper Companies' 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. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. 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，我們對庫珀醫療的表現存在一些矛盾的看法。儘管它似乎保留了大部分利潤，但考慮到roe偏低，投資者可能並沒有從所有這些再投資中獲得好處。低收益增長率表明我們的理論是正確的。即便如此，最新行業分析師預測顯示，分析師預計該公司的收益增長率將有巨大提升。了解有關該公司最新分析師預測的更多信息，請查看本公司分析師預測的可視化。
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