Is Boot Barn Holdings, Inc.'s (NYSE:BOOT) Latest Stock Performance A Reflection Of Its Financial Health?
Is Boot Barn Holdings, Inc.'s (NYSE:BOOT) Latest Stock Performance A Reflection Of Its Financial Health?
Boot Barn Holdings' (NYSE:BOOT) stock is up by a considerable 34% over the past three months. 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 Boot Barn Holdings' ROE.
在過去三個月中，Boot Barn Holdings（紐交所：BOOT）的股票上漲了相當多的34％。考慮到市場長期以來獎勵強勁的財務狀況，我們想知道在這種情況下是否是這種情況。在本文中，我們決定關注Boot Barn Holdings的roe。
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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股東要考慮的關鍵因素之一是淨資產收益率或roe，因爲它告訴他們公司如何有效地重新投資他們的資本。簡單點說，它衡量了公司與股東權益相關的盈利能力。
How Is ROE Calculated?
淨資產收益率怎麼計算？
ROE can be calculated by using the formula:
淨資產收益率可以使用以下公式進行計算：
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 Boot Barn Holdings is:
因此，根據以上公式，Boot Barn Holdings的ROE爲：
16% = US$147m ÷ US$944m (Based on the trailing twelve months to March 2024).
16％= US $ 147m ÷ US $ 944m（基於過去十二個月截至2024年3月）。
The 'return' is the yearly profit. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.16 in profit.
'回報'是每年的利潤。一個理解它的方式是，對於每個股東的資本1美元，公司賺取了16美分的利潤。
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. 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.
因此，我們已經了解到roe是衡量公司利潤率的有效方法。根據公司重新投資或“保留”這些收益的程度以及其有效程度，我們就能評估公司的盈利增長潛力。假設其他條件相同，權益回報率和利潤保留越高的公司通常比沒有相同特點的公司具有更快的增長率。
Boot Barn Holdings' Earnings Growth And 16% ROE
Boot Barn Holdings的盈利增長和16％的ROE
At first glance, Boot Barn Holdings seems to have a decent ROE. And on comparing with the industry, we found that the the average industry ROE is similar at 19%. This certainly adds some context to Boot Barn Holdings' exceptional 31% net income growth seen over the past five years. However, there could also be other drivers behind this growth. For instance, the company has a low payout ratio or is being managed efficiently.
乍一看，Boot Barn Holdings似乎具有相當不錯的ROE。通過與行業進行比較，我們發現行業平均ROE也相似，爲19％。這無疑爲Boot Barn Holdings在過去五年中出現的31％淨利潤增長增加了一些背景信息。但是，這種增長背後也可能存在其他驅動因素。例如，該公司具有較低的派息比率或者正在被有效管理。
Next, on comparing with the industry net income growth, we found that Boot Barn Holdings' growth is quite high when compared to the industry average growth of 23% in the same period, which is great to see.
接下來，與行業淨收入增長進行比較，我們發現Boot Barn Holdings的增長相當高，而行業平均增長率爲23％，這是非常好的。
Earnings growth is a huge factor in stock valuation. 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. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Boot Barn Holdings is trading on a high P/E or a low P/E, relative to its industry.
盈利增長是股票估值的一個重要因素。了解市場是否已將公司的預期盈利增長（或下降）價格納入考慮是對於投資者很重要的。一個好的預期盈利增長數據指標是P / E比率，它確定了市場是否願意基於其收益前景爲股票支付的價格。因此，您可能需要查看Boot Barn Holdings相對於其行業是否交易於高P / E或低P / E。
Is Boot Barn Holdings Making Efficient Use Of Its Profits?
Boot Barn Holdings是否有效利用其利潤？
Boot Barn Holdings doesn't pay any regular dividends 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.
Boot Barn Holdings不向其股東支付任何常規股息，這意味着該公司一直在將其所有利潤重新投資到業務中。這可能是上述高盈利增長數字的推動力。
Conclusion
結論
On the whole, we feel that Boot Barn Holdings' performance has been quite good. 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. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. 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.
總體而言，我們認爲Boot Barn Holdings的表現相當不錯。特別是，我們喜歡公司以高回報率重新投資其利潤的大部分（非常龐大）部分。這當然導致了公司收益的大幅增長。話雖如此，預計公司的盈利增長將放緩，這是當前分析師估計的預測。要了解有關該公司未來盈利增長預測的更多信息，請查看有關該公司的分析師預測的自由報告。
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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
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譯文內容由第三人軟體翻譯。