Has Zebra Technologies Corporation's (NASDAQ:ZBRA) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
Has Zebra Technologies Corporation's (NASDAQ:ZBRA) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
Zebra Technologies' (NASDAQ:ZBRA) stock is up by a considerable 12% over the past three months. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. Particularly, we will be paying attention to Zebra Technologies' ROE today.
斑馬技術(納斯達克:ZBRA)的股票在過去三個月中大幅上漲了12%。 我們想知道公司的財務狀況在這種價格變動中起到了什麼作用,因爲公司的長期基本面通常決定了市場的結果。特別是,我們將關注斑馬技術的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 Zebra Technologies is:
所以,根據以上公式,斑馬技術的roe爲:
11% = US$382m ÷ US$3.4b (Based on the trailing twelve months to September 2024).
11% = 38200萬美元 ÷ 34億美元(截至2024年9月的最近十二個月)。
The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.11 in profit.
「收益」是過去十二個月的稅後盈利額。概念化的一種方法是,對於每1美元的股東資本,公司賺取了0.11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?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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. 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.
我們已經確定,ROE是一個公司未來盈利的高效測量工具。基於公司選擇重新投資或「保留」多少利潤,我們可以評估公司未來產生利潤的能力。假設其他條件相同,具有更高股本回報率和更高利潤保留比的公司通常增長速度較高,而沒有相同特徵的公司則通常增長速度較低。
A Side By Side comparison of Zebra Technologies' Earnings Growth And 11% ROE
斑馬技術的盈利增長與11%的roe進行了並排比較
To begin with, Zebra Technologies seems to have a respectable ROE. Even when compared to the industry average of 10% the company's ROE looks quite decent. However, while Zebra Technologies has a pretty respectable ROE, its five year net income decline rate was 9.4% . We reckon that there could be some other factors at play here that are preventing the company's growth. Such as, the company pays out a huge portion of its earnings as dividends, or is faced with competitive pressures.
首先,斑馬技術的roe似乎相當可觀。 即使與10%的行業平均水平相比,公司的roe看起來相當不錯。 但是,儘管斑馬技術的roe相當可觀,但其五年的淨利潤下降率爲9.4%。 我們認爲這裏可能存在一些其他因素阻礙了公司的增長。 例如,公司將其收益的大部分作爲股息派發出去,或者面臨競爭壓力。
That being said, we compared Zebra Technologies' performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 14% in the same 5-year period.
話雖如此,我們將斑馬技術的表現與行業進行了比較,並在發現公司收益下降的同時,發現行業在同一五年期間以14%的速度增長了收益時感到擔憂。
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. Is ZBRA fairly valued? This infographic on the company's intrinsic value has everything you need to know.
盈利增長是股票估值中的一個重要因素。對於投資者來說,了解市場是否已經將公司預期的盈利增長(或下滑)定價是很重要的。這有助於他們判斷股票是面臨光明未來還是暗淡未來。ZBRA股票的價值是否合理?這份關於公司內在價值的信息圖表包含了你需要了解的一切。
Is Zebra Technologies Making Efficient Use Of Its Profits?
Zebra Technologies是否有效利用其利潤?
Because Zebra Technologies doesn't pay any regular dividends, we infer that it is retaining all of its profits, which is rather perplexing when you consider the fact that there is no earnings growth to show for it. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
因爲斑馬技術不支付任何定期股息,我們推斷它留住了所有利潤,這在考慮到沒有盈利增長來證明這一點時,有些令人困惑。看起來可能還有其他原因可以解釋這種情況。例如,業務可能正在衰退。
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 feel that Zebra Technologies certainly does have some positive factors to consider. However, given the high ROE and high profit retention, we would expect the company to be delivering strong earnings growth, but that isn't the case here. This suggests that there might be some external threat to the business, that's hampering its growth. With that said, we studied the latest analyst forecasts and found that while the company has shrunk its earnings in the past, analysts expect its earnings to grow in the future. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總體而言,我們認爲斑馬技術的確有一些積極因素需要考慮。然而,考慮到高ROE和高利潤保留率,我們本來期望公司能夠實現強勁的盈利增長,但情況並非如此。這表明可能存在一些威脅制約了企業的增長。話雖如此,我們研究了最新的分析師預測,發現雖然公司過去曾經縮減了盈利,但分析師預計未來會有盈利增長。要了解更多關於該公司最新分析師預測的信息,請查看這份有關公司分析師預測的可視化。
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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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