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Shoe Carnival, Inc.'s (NASDAQ:SCVL) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?

Shoe Carnival, Inc.'s (NASDAQ:SCVL) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?

Shoe Carnival, Inc.(納斯達克:SCVL)的基本面看起來相當強勁:市場對這隻股票的看法可能是錯誤的?
Simply Wall St ·  01/28 11:14

Shoe Carnival (NASDAQ:SCVL) has had a rough month with its share price down 22%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. In this article, we decided to focus on Shoe Carnival's ROE.

Shoe Carnival(納斯達克:SCVL)在過去一個月裏遭遇了困難,股價下跌了22%。但是如果你仔細觀察,你可能會發現其強勁的財務狀況意味着該公司的股票在長期內可能會看到價值增加,考慮到市場通常會獎勵財務健康的公司。在這篇文章中,我們決定關注Shoe Carnival的ROE。

ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.

ROE,即淨資產收益率,是評估公司如何有效地利用股東所投入的資金以產生回報的有用工具。簡單來說,它衡量了公司相對於股東權益的盈利能力。

How To Calculate Return On Equity?

如何計算股東權益回報率?

Return on equity can be calculated by using the formula:

淨資產收益率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 Shoe Carnival is:

因此,根據上述公式,Shoe Carnival的ROE爲:

12% = US$75m ÷ US$636m (Based on the trailing twelve months to November 2024).

12% = 7500萬美元 ÷ 63600萬美元(基於截至2024年11月的過去十二個月)。

The 'return' refers to a company's earnings over the last year. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.12 in profit.

「收益」是指公司在過去一年中的盈利。另一種理解是,對於每1美元的股本,公司能夠賺取0.12美元的利潤。

Why Is ROE Important For Earnings Growth?

ROE爲什麼對凈利潤增長很重要?

We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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 everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

我們已經確定,ROE作爲公司未來盈利的有效利潤生成指標。根據公司選擇了多少利潤進行再投資或「保留」,我們能夠評估公司的未來盈利能力。假設其他條件不變,ROE和利潤保留越高,與那些不一定具備這些特徵的公司相比,公司的增長率就越高。

Shoe Carnival's Earnings Growth And 12% ROE

Shoe Carnival的盈利增長和12%的ROE

To start with, Shoe Carnival's ROE looks acceptable. Be that as it may, the company's ROE is still quite lower than the industry average of 19%. However, the moderate 15% net income growth seen by Shoe Carnival over the past five years is definitely a positive. We reckon that there could be other factors at play here. For instance, the company has a low payout ratio or is being managed efficiently. 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,Shoe Carnival的ROE看起來是可以接受的。儘管如此,該公司的ROE仍然低於行業平均水平的19%。然而,Shoe Carnival在過去五年中實現的15%的凈利潤增長無疑是一個積極信號。我們認爲,這裏可能存在其他因素影響。例如,公司有較低的分紅派息比率或者管理效率較高。請記住,該公司確實具有可觀的ROE水平。只是行業的ROE更高。因此,這也爲公司所看到的相當高的盈利增長提供了一些解釋。

As a next step, we compared Shoe Carnival's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 17% in the same period.

接下來,我們將Shoe Carnival的凈利潤增長與行業進行了比較,發現該公司的增長數據與行業在同一時期的平均增長率17%相似。

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NasdaqGS:SCVL Past Earnings Growth January 28th 2025
納斯達克GS:SCVL過去的盈利增長2025年1月28日

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. If you're wondering about Shoe Carnival's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

爲一家公司賦予價值的基礎在很大程度上與其盈利增長相關。投資者接下來需要判斷的是,預期的盈利增長或缺乏增長是否已經反映在股票價格中。這樣,他們就可以了解到這隻股票是否正在駛向清澈的沃特世,或者是否將面臨泥濘的水域。如果你在擔心Shoe Carnival的估值,請查看其與行業相比的市盈率指標。

Is Shoe Carnival Making Efficient Use Of Its Profits?

Shoe Carnival是否在有效利用其利潤?

Shoe Carnival has a low three-year median payout ratio of 11%, meaning that the company retains the remaining 89% of its profits. This suggests that the management is reinvesting most of the profits to grow the business.

Shoe Carnival的三年中位數派息比率僅爲11%,這意味着公司保留了剩餘89%的利潤。這表明管理層將大部分利潤再投資以促進業務增長。

Besides, Shoe Carnival has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders.

此外,Shoe Carnival已連續至少十年支付分紅。這表明該公司致力於與其股東分享利潤。

Conclusion

結論

Overall, we are quite pleased with Shoe Carnival's performance. Specifically, we like that it has been reinvesting a high portion of its profits at a moderate rate of return, resulting in earnings expansion. 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.

總體來說,我們對Shoe Carnival的表現非常滿意。具體來說,我們喜歡它以適度的回報率再投資了高比例的利潤,從而實現了盈利的擴張。不過,預計公司的盈利增長將放緩,正如當前分析師的預測所示。要了解更多關於公司未來盈利增長預測的信息,可以查看這個關於公司分析師預測的免費報告。

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。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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