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Construction Partners, Inc.'s (NASDAQ:ROAD) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum?

Construction Partners, Inc.'s (NASDAQ:ROAD) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum?

Construction Partners, Inc.(納斯達克:ROAD)的股票處於上升趨勢:基本面是否在推動這種動力?
Simply Wall St ·  01/13 16:07

Construction Partners' (NASDAQ:ROAD) stock is up by a considerable 18% over the past three months. As most would know, fundamentals are what usually guide market price movements over the long-term, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. Particularly, we will be paying attention to Construction Partners' ROE today.

Construction Partners(納斯達克:ROAD)的股票在過去三個月上漲了18%。衆所周知,基本面通常是指導市場價格長期波動的因素,因此我們決定今天查看該公司的關鍵財務指標,以判斷它們在最近價格波動中是否發揮了作用。特別是,我們今天將關注Construction Partners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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

股東需要考慮的一個重要因素是股本回報率或ROE,因爲它告訴他們資本是如何有效地再投資的。換句話說,它是一個盈利能力比率,衡量公司股東提供的資本的回報率。

How To Calculate Return On Equity?

如何計算股東權益回報率?

ROE can be calculated by using the formula:

ROE可以通過以下公式計算:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

股東權益回報率 = 凈利潤(來自持續運營)÷ 股東權益

So, based on the above formula, the ROE for Construction Partners is:

因此,基於上述公式,Construction Partners的ROE爲:

12% = US$69m ÷ US$574m (Based on the trailing twelve months to September 2024).

12% = 6900萬美元 ÷ 57400萬美元(基於截至2024年9月的過去十二個月)。

The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.12 in profit.

『回報』是指過去十二個月內的利潤。把它概念化的一種方式是,該公司每擁有1美元的股東資本,就賺取了0.12美元的利潤。

What Has ROE Got To Do With Earnings Growth?

ROE與盈利增長有何關係?

So far, we've learned that ROE is a measure of a company's profitability. 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. 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.

到目前爲止,我們已經了解到ROE是公司的盈利能力的一種衡量標準。根據公司選擇再投資或「留存」的利潤比例,我們能夠評估公司未來產生利潤的能力。一般來說,其他條件相同的情況下,具有高股本回報率和利潤留存的公司,增長率往往高於沒有這些特點的公司。

A Side By Side comparison of Construction Partners' Earnings Growth And 12% ROE

Construction Partners的收益增長與12%的ROE的並排比較

To start with, Construction Partners' ROE looks acceptable. Even so, when compared with the average industry ROE of 16%, we aren't very excited. However, the moderate 9.7% net income growth seen by Construction Partners over the past five years is definitely a positive. We reckon that there could be other factors at play here. Such as - high earnings retention or an efficient management in place. Bear in mind, the company does have a respectable level of ROE. It is just that the industry ROE is higher. So this also does lend some color to the fairly high earnings growth seen by the company.

首先,Construction Partners的ROE看起來可接受。儘管如此,與行業平均ROE 16%相比,我們並不是很興奮。然而,Construction Partners在過去五年中看到的9.7%的凈利潤增長無疑是一個積極的因素。我們認爲這裏可能還有其他因素在起作用,例如高收益留存或高效的管理。請記住,該公司的ROE水平是相當可觀的。只是行業ROE更高。所以這也爲該公司相當高的收益增長提供了一些解釋。

As a next step, we compared Construction Partners' net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 15% in the same period.

作爲下一步,我們將Construction Partners的凈利潤增長與行業進行了比較,結果令我們失望地看到,該公司的增長低於行業在同一時期的平均增長15%。

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NasdaqGS:ROAD Past Earnings Growth January 13th 2025
納斯達克GS:ROAD過去的收益增長 2025年1月13日

Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. 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 Construction Partners 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重要因素。投資者應嘗試判斷預期的盈利增長或下降,無論是哪種情況,是否已經反映在股價中。通過這樣做,他們可以大致判斷股票是要進入清澈的沃特世,還是面臨泥濘的水域。有一個良好的預期盈利增長指標是市盈率,它決定了市場願意爲一隻股票支付的價格,基於其盈利前景。因此,您可能想查看Construction Partners的市盈率是相對行業高市盈率還是低市盈率。

Is Construction Partners Using Its Retained Earnings Effectively?

Construction Partners是否有效利用其留存盈利?

Construction Partners doesn't pay any regular dividends, meaning that all of its profits are being reinvested in the business, which explains the fair bit of earnings growth the company has seen.

Construction Partners不支付任何定期分紅,這意味着它所有的利潤都被重新投資於業務,這也解釋了公司所看到的相當可觀的盈利增長。

Conclusion

結論

Overall, we feel that Construction Partners certainly does have some positive factors to consider. Particularly, its earnings have grown respectably as we saw earlier, which was likely achieved due to the company reinvesting most of its earnings at a decent rate of return, to grow its business. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. 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.

總體而言,我們認爲Construction Partners確實有一些積極的因素需要考慮。特別是,正如我們之前看到的,公司的盈利增長相當可觀,這可能是由於公司以合理的回報率將大部分盈利重新投資以發展其業務。話雖如此,最新的行業分析師預測顯示,公司的盈利預計會加速。這些分析師的預期是基於行業的廣泛預期,還是基於公司的基本面?點擊這裏查看我們分析師的公司預測頁面。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall ST在提到的任何股票中均沒有持倉。

譯文內容由第三人軟體翻譯。


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