Will Weakness in Five Below, Inc.'s (NASDAQ:FIVE) Stock Prove Temporary Given Strong Fundamentals?
Will Weakness in Five Below, Inc.'s (NASDAQ:FIVE) Stock Prove Temporary Given Strong Fundamentals?
With its stock down 39% over the past three months, it is easy to disregard Five Below (NASDAQ:FIVE). However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. In this article, we decided to focus on Five Below's ROE.
由於過去3個月股價下跌了39％，因此很容易忽略Five Below（納斯達克代碼：FIVE）。 但是，對其良好的財務狀況進行仔細審查可能會讓您重新考慮。考慮到基本面通常驅動長期的市場結果，因此值得關注這家公司。在本文中，我們決定重點研究Five Below的ROE。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股東權益回報率（ROE）是測試公司如何有效地增加其價值並管理投資者資金的指標。簡而言之，它用於評估公司相對於股本資本的盈利能力。
How Is ROE Calculated?
淨資產收益率怎麼計算？
The formula for return on equity is:
權益回報率的計算公式是：
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 Five Below is:
因此，基於上述公式，Five Below的ROE爲：
19% = US$295m ÷ US$1.6b (Based on the trailing twelve months to May 2024).
19％= 2,950萬美元/ 16億美元（基於截至2024年5月的過去十二個月）。
The 'return' is the yearly profit. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.19 in profit.
“回報”是每年的利潤。另一種考慮方法是，對於每1美元的股權，該公司能夠賺取0.19美元的利潤。
Why Is ROE Important For Earnings Growth?
ROE對於盈利增長的重要性是什麼？
So far, we've learned that ROE is a measure of a company's profitability. 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roe是公司利潤能力的一個衡量標準，現在我們需要評估公司再投資或“保留”的利潤，以此來了解公司的增長潛力。假設其他所有因素保持不變，roe和利潤保留率越高，公司的增長速度就越高，相對於不一定具備這些特徵的公司而言。
Five Below's Earnings Growth And 19% ROE
Five Below的盈利增長和19％的ROE。
To begin with, Five Below seems to have a respectable ROE. Even when compared to the industry average of 19% the company's ROE looks quite decent. This probably goes some way in explaining Five Below's moderate 17% growth over the past five years amongst other factors.
首先，Five Below的ROE似乎比較可觀。即使與行業平均水平的19％相比，該公司的ROE看起來也相當不錯。這可能在一定程度上解釋了Five Below在過去五年中適度的17％增長等其他因素。
As a next step, we compared Five Below's net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 23% in the same period.
作爲下一步，我們將Five Below的淨收入增長與行業進行了比較，並且很失望地看到該公司的增長低於同期23％的行業平均增長率。
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. This then helps them determine if the stock is placed for a bright or bleak future. Is FIVE fairly valued? This infographic on the company's intrinsic value has everything you need to know.
盈利增長是估值股票時需要考慮的重要指標。投資者應該嘗試確定預期的盈利增長或下降（無論哪種情況），是否已經定價。然後，這有助於他們判斷股票未來是光明還是暗淡。Five Below是否定價合理？有關公司內在價值的信息圖表，您所需了解的一切都在此處。
Is Five Below Using Its Retained Earnings Effectively?
Five Below是否有效地利用其留存收益？
Five Below 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 decent earnings growth number that we discussed above.
Five Below目前不支付任何普通股息，這意味着它一直在將利潤全部投入業務中。這絕對有助於上述不錯的盈利增長數字。
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。
Overall, we are quite pleased with Five Below's performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a respectable growth in its earnings. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. 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，我們對Five Below的表現相當滿意。特別是，看到公司大量投資於其業務並且具有較高的回報率，這導致了其盈利的相當增長，這是非常不錯的。話雖如此，據當前分析師預測，該公司的盈利增長有望放緩。這些分析師的預期是基於行業的總體預期還是公司的基本面？單擊此處轉到我們的分析師預測頁面。
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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.
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者，發送電子郵件至editorial-team (at) simplywallst.com。
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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。
譯文內容由第三人軟體翻譯。