Do Its Financials Have Any Role To Play In Driving TDCX Inc.'s (NYSE:TDCX) Stock Up Recently?
Do Its Financials Have Any Role To Play In Driving TDCX Inc.'s (NYSE:TDCX) Stock Up Recently?
TDCX (NYSE:TDCX) has had a great run on the share market with its stock up by a significant 36% over the last 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. Specifically, we decided to study TDCX's ROE in this article.
TDCX（紐約證券交易所代碼：TDCX）在股票市場上表現良好，其股票在過去三個月中大幅上漲了36％。正如大多數人所知道的那樣，基本面通常是指導市場價格長期走勢的因素，因此我們今天決定研究公司的關鍵財務指標，以確定它們在近期的價格走勢中是否可以發揮任何作用。具體而言，我們決定在本文中研究TDCX的投資回報率。
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.
股本回報率或投資回報率是對公司增值和管理投資者資金的有效性的考驗。換句話說，它是衡量公司股東提供的資本回報率的盈利比率。
How Do You Calculate Return On Equity?
你如何計算股本回報率？
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
股本回報率 = 淨利潤（來自持續經營業務）÷ 股東權益
So, based on the above formula, the ROE for TDCX is:
因此，根據上述公式，TDCX的投資回報率爲：
18% = S$113m ÷ S$637m (Based on the trailing twelve months to September 2023).
18% = 1.13億新元 ÷ 6.37億新元（基於截至2023年9月的過去十二個月）。
The 'return' is the yearly profit. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.18 in profit.
“回報” 是每年的利潤。將其概念化的一種方法是，公司每擁有1美元的股東資本，就能獲得0.18美元的利潤。
What Has ROE Got To Do With Earnings Growth?
投資回報率與收益增長有什麼關係？
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，我們已經了解到，投資回報率衡量的是公司創造利潤的效率。然後，我們能夠評估公司的收益增長潛力，具體取決於公司對這些利潤進行再投資或 “保留” 了多少及其有效性。假設其他條件都一樣，與功能不相同的公司相比，具有更高股本回報率和更高利潤保留率的公司通常具有更高的增長率。
TDCX's Earnings Growth And 18% ROE
TDCX 的收益增長和 18% 的投資回報率
At first glance, TDCX seems to have a decent ROE. Further, the company's ROE compares quite favorably to the industry average of 12%. Probably as a result of this, TDCX was able to see a decent growth of 15% over the last five years.
乍一看，TDCX的投資回報率似乎不錯。此外，該公司的投資回報率與行業平均水平的12％相比相當不錯。可能是由於這個原因，TDCX在過去五年中得以實現15％的可觀增長。
As a next step, we compared TDCX's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 11%.
下一步，我們將TDCX的淨收入增長與該行業進行了比較，令人高興的是，我們發現該公司的增長高於11％的行業平均增長。
Earnings growth is an important metric to consider when valuing a stock. 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. Is TDCX fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增長是對股票進行估值時要考慮的重要指標。無論如何，投資者應設法確定預期的收益增長或下降是否已計入其中。通過這樣做，他們將知道股票是走向清澈的藍色海水還是沼澤水域在等着呢。與其他公司相比，TDCX的估值是否合理？這3種估值指標可能會幫助您做出決定。
Is TDCX Using Its Retained Earnings Effectively?
TDCX是否有效地使用其留存收益？
While the company did pay out a portion of its dividend in the past, it currently doesn't pay a dividend. We infer that the company has been reinvesting all of its profits to grow its business.
儘管該公司過去確實支付了部分股息，但目前不支付股息。我們推斷，該公司一直在將其所有利潤再投資於發展業務。
Conclusion
結論
On the whole, we do feel that TDCX has some positive attributes. Namely, its high earnings growth, which was likely due to its high ROE. However, investors could have benefitted even more from the high ROE, had the company been reinvesting more of its earnings. As discussed earlier, the company is retaining hardly any of its profits. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. 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.
總的來說，我們確實認爲TDCX有一些積極的屬性。也就是說，其高收益增長，這可能是由於其高投資回報率。但是，如果該公司將更多的收益再投資，投資者本可以從高投資回報率中受益更多。如前所述，該公司幾乎沒有保留任何利潤。話雖如此，正如分析師目前的估計所預測的那樣，該公司的收益增長預計將放緩。這些分析師的預期是基於對該行業的廣泛預期，還是基於公司的基本面？點擊此處進入我們分析師對公司的預測頁面。
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論，我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議，也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意，我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之，華爾街沒有持有任何上述股票的頭寸。
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