Lattice Semiconductor Corporation's (NASDAQ:LSCC) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Lattice Semiconductor Corporation's (NASDAQ:LSCC) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
With its stock down 7.0% over the past month, it is easy to disregard Lattice Semiconductor (NASDAQ:LSCC). However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. In this article, we decided to focus on Lattice Semiconductor's ROE.
萊迪思半導體（納斯達克股票代碼：LSCC）的股價在過去一個月中下跌了7.0％，很容易被忽視。但是，仔細觀察其良好的財務狀況可能會讓你重新考慮。鑑於基本面通常會推動長期市場業績，因此該公司值得關注。在本文中，我們決定重點關注萊迪思半導體的投資回報率。
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 short, ROE shows the profit each dollar generates with respect to its shareholder investments.
投資回報率或股本回報率是評估公司如何有效地從股東那裏獲得投資回報的有用工具。簡而言之，投資回報率顯示了每美元從其股東投資中產生的利潤。
How Do You Calculate Return On Equity?
你如何計算股本回報率？
The formula for return on equity is:
股本回報率的公式是：
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 Lattice Semiconductor is:
因此，根據上述公式，萊迪思半導體的投資回報率爲：
32% = US$218m ÷ US$683m (Based on the trailing twelve months to March 2024).
32% = 2.18億美元 ÷ 6.83億美元（基於截至2024年3月的過去十二個月）。
The 'return' refers to a company's earnings over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.32 in profit.
“回報” 是指公司去年的收益。對此進行概念化的一種方法是，該公司每擁有1美元的股東資本，就能獲得0.32美元的利潤。
Why Is ROE Important For Earnings Growth?
爲什麼投資回報率對收益增長很重要？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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，投資回報率衡量的是公司創造利潤的效率。根據公司選擇將多少利潤進行再投資或 “保留”，我們便能夠評估公司未來創造利潤的能力。一般而言，在其他條件相同的情況下，股本回報率和利潤留存率高的公司的增長率要高於不具有這些屬性的公司。
Lattice Semiconductor's Earnings Growth And 32% ROE
萊迪思半導體的收益增長和32％的投資回報率
To begin with, Lattice Semiconductor has a pretty high ROE which is interesting. Additionally, the company's ROE is higher compared to the industry average of 15% which is quite remarkable. So, the substantial 46% net income growth seen by Lattice Semiconductor over the past five years isn't overly surprising.
首先，萊迪思半導體的投資回報率相當高，這很有趣。此外，該公司的投資回報率高於行業平均水平的15％，這非常引人注目。因此，萊迪思半導體在過去五年中實現了46％的淨收入大幅增長並不令人驚訝。
Next, on comparing with the industry net income growth, we found that Lattice Semiconductor's growth is quite high when compared to the industry average growth of 30% in the same period, which is great to see.
接下來，與行業淨收入增長相比，我們發現與同期行業平均增長30％相比，萊迪思半導體的增長相當高，這真是太好了。
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 Lattice Semiconductor is trading on a high P/E or a low P/E, relative to its industry.
收益增長是股票估值的重要因素。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。衡量預期收益增長的一個很好的指標是市盈率，它根據收益前景決定了市場願意爲股票支付的價格。因此，您可能需要檢查萊迪思半導體相對於其行業是高市盈率還是低市盈率。
Is Lattice Semiconductor Using Its Retained Earnings Effectively?
萊迪思半導體是否有效地使用了其留存收益？
Given that Lattice Semiconductor doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
鑑於萊迪思半導體不向股東支付任何定期股息，我們推斷該公司一直在將所有利潤再投資以發展其業務。
Conclusion
結論
Overall, we are quite pleased with Lattice Semiconductor's performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. That being so, according to the latest industry analyst forecasts, the company's earnings are expected to shrink in the future. 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.
總的來說，我們對萊迪思半導體的表現非常滿意。特別是，很高興看到該公司正在對其業務進行大量投資，再加上高回報率，這爲其收益帶來了可觀的增長。既然如此，根據最新的行業分析師預測，該公司的收益預計將在未來萎縮。要了解有關公司未來收益增長預測的更多信息，請查看這份關於分析師預測的免費報告，以了解更多信息。
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