Pool Corporation's (NASDAQ:POOL) Stock Been Rising: Are Strong Financials Guiding The Market?
Pool Corporation's (NASDAQ:POOL) Stock Been Rising: Are Strong Financials Guiding The Market?
Pool's (NASDAQ:POOL) stock up by 1.5% over the past three months. Since the market usually pay for a company's long-term financial health, we decided to study the company's fundamentals to see if they could be influencing the market. Particularly, we will be paying attention to Pool's ROE today.
納斯達克(Pool)股票在過去三個月上漲了1.5%。由於市場通常會爲公司的長期財務狀況買單，我們決定研究該公司的基本面，看看它們是否可能影響市場。特別地，今天我們將關注Pool的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
淨資產收益率（ROE）是衡量公司增值和管理投資者資金有效性的測試。換句話說，它是一種盈利能力比率，用於衡量公司股東提供的資金回報率。
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 Pool is:
所以，根據上述公式，Pool的ROE爲：
32% = US$461m ÷ US$1.4b (Based on the trailing twelve months to June 2024).
32% = 46100萬美元 ÷ 14億美元（截至2024年6月的過去十二個月）。
The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.32.
『回報』是每年的利潤。這意味着，對於每美元股東投資，公司產生0.32美元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
ROE與盈利增長之間的關係是什麼？
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.
到目前爲止，我們已經學到 ROE（淨資產收益率）可以衡量公司盈利的效率。具體取決於公司再投資或「保留」多少這些利潤，以及其有效程度，我們便能夠評估公司的盈利增長潛力。假設其他條件相同，ROE和利潤保留率都較高的公司通常比不具備這些特徵的公司增長率更高。
A Side By Side comparison of Pool's Earnings Growth And 32% ROE
股票收益增長和32%的roe的對比結果如下：
Firstly, we acknowledge that Pool has a significantly high ROE. Secondly, even when compared to the industry average of 12% the company's ROE is quite impressive. This likely paved the way for the modest 15% net income growth seen by Pool over the past five years.
首先，我們承認Pool的ROE非常高。其次，即使與行業平均水平12%相比，該公司的ROE也非常令人印象深刻。這很可能導致Pool在過去五年中淨利潤增長15%，這個增長速度較爲穩健。
We then compared Pool's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 22% in the same 5-year period, which is a bit concerning.
我們還將Pool的淨利潤增長與行業進行了比較，並發現公司的增長率較同一5年期間的行業平均增長率22%要低，這有些令人擔憂。
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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Pool 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。投資者接下來需要判斷的是，預期的盈利增長，或者缺乏盈利增長，是否已經融入了股價中。通過這樣做，他們將了解股票是走向明朗未來，還是即將面臨泥濘的未來。與其他公司相比，泳池是否被合理估值？這3個估值指標可能會幫助您做出決定。
Is Pool Using Its Retained Earnings Effectively?
泳池是否有效利用其留存利潤？
Pool has a low three-year median payout ratio of 20%, meaning that the company retains the remaining 80% of its profits. This suggests that the management is reinvesting most of the profits to grow the business.
泳池的三年中位數低至20%的股息支付比率意味着公司留下其80%的利潤。這表明管理層將大部分利潤用於業務增長。
Additionally, Pool 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 42% over the next three years.
此外，泳池在至少十年的時間裏支付股息，這意味着公司非常重視與股東分享利潤。在研究最新的分析師一致數據後，我們發現公司未來的股息支付比率預計將在未來三年內上升至42%。
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。
On the whole, we feel that Pool's 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 a good amount of growth in its earnings. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. 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.
總體來看，我們認爲Pool的表現相當不錯。具體來說，我們喜歡公司以高回報率再投資其利潤的巨額部分。當然，這導致公司的收益出現了很大的增長。鑑於此，對最新分析師預測的研究顯示，預計該公司未來的收益增長將放緩。要了解更多關於公司未來收益增長預測的信息，請查看此免費報告，以了解更多。
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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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