Doximity, Inc.'s (NYSE:DOCS) Stock Is Going Strong: Is the Market Following Fundamentals?
Doximity, Inc.'s (NYSE:DOCS) Stock Is Going Strong: Is the Market Following Fundamentals?
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity Doximity (NYSE:DOCS) has had a great run on the share market with its stock up by a significant 32% over the last 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. In this article, we decided to focus on Doximity's ROE.
Doximity (紐交所:DOCS)股票在過去三個月中大幅上漲32%，在股市上取得了很好的運行。由於市場通常會爲一家公司的長期基本面付費，因此我們決定研究該公司的關鍵績效指標，看看它們是否可能影響市場。在本文中，我們決定將重點放在Doximity的roe上。
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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股東應考慮的重要因素是淨資產收益率或roe，因爲它告訴他們投資的資本如何被有效地再投資。簡單來說，它用於評估公司與其股權資本相關的盈利能力。
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 Doximity is:
因此，根據上述公式，Doximity的roe爲：
18% = US$161m ÷ US$914m (Based on the trailing twelve months to June 2024).
18% = 16100萬美元 ÷ 91400萬美元（截至2024年6月的過去十二個月）。
The 'return' refers to a company's earnings over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.18 in profit.
「回報」是指公司在過去一年內的收益。這意味着，對於每1美元的股東權益，該公司產生了0.18美元的利潤。
Why Is ROE Important For Earnings Growth?
ROE爲什麼對淨利潤增長很重要？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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. 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.
我們已經確認ROE是一個有效的判斷公司未來盈利能力的指標。根據公司再投資或「保留」利潤的比例及其效率來判定公司的盈利增長潛力，通常情況下，其他條件相同，具有高股權回報率和利潤保留率的公司增長速度會高於這些屬性缺失的公司。
A Side By Side comparison of Doximity's Earnings Growth And 18% ROE
Doximity的盈利增長和18%的roe的側面比較
To begin with, Doximity seems to have a respectable ROE. On comparing with the average industry ROE of 5.3% the company's ROE looks pretty remarkable. Probably as a result of this, Doximity was able to see an impressive net income growth of 37% over the last five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.
首先，Doximity的roe似乎是可觀的。與行業平均roe 5.3%相比，該公司的roe看起來相當可觀。可能正因爲如此，Doximity過去五年淨利潤增長了37%。我們認爲，可能還有其他積極影響公司盈利增長的方面。例如，公司的分紅派息比率較低，或者正在有效管理。
Next, on comparing with the industry net income growth, we found that Doximity's growth is quite high when compared to the industry average growth of 15% in the same period, which is great to see.
其次，與行業淨利潤增長相比，我們發現Doximity的增長相當高，行業平均增長率爲15%，這是一個好消息。
Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. Is Doximity fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增長是估值股票時需要考慮的重要指標。接下來投資者需要判斷的是預期的盈利增長，或者缺失，是否已經反映在股價中。這有助於他們判斷股票是走向明亮未來還是黯淡前景。Doximity相對於其他公司是否估值合理？這三種估值指標可能會幫助您做出決定。
Is Doximity Efficiently Re-investing Its Profits?
Doximity是否有效地重新投資其利潤？
Doximity 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.
Doximity目前不支付任何常規分紅，這基本上意味着它將所有利潤重新投資到業務中。這顯然有助於推動我們上面討論過的高盈利增長數字。
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 Doximity'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. 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 latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總的來說，我們對Doximity的表現感到非常滿意。特別是，我們讚賞該公司大量回流到業務中，並以高回報率進行重新投資。毫不奇怪，這導致了印象深刻的盈利增長。話雖如此，根據當前分析師的預測，該公司的盈利增長預計會放緩。要了解更多關於該公司最新分析師預測的信息，請查看該公司的分析師預測可視化。
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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。
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