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HealthEquity, Inc. (NASDAQ:HQY) Is Up But Financials Look Inconsistent: Which Way Is The Stock Headed?

HealthEquity, Inc. (NASDAQ:HQY) Is Up But Financials Look Inconsistent: Which Way Is The Stock Headed?

HealthEquity, Inc.(纳斯达克股票代码:HQY)上涨但财务状况看起来前后矛盾:该股走向何方?
Simply Wall St ·  05/24 00:38

HealthEquity's (NASDAQ:HQY) stock up by 4.8% over the past week. Given that the stock prices usually follow long-term business performance, we wonder if the company's mixed financials could have any adverse effect on its current price price movement Specifically, we decided to study HealthEquity's ROE in this article.

HealthEquity(纳斯达克股票代码:HQY)的股票在过去一周上涨了4.8%。鉴于股价通常遵循长期经营业绩,我们想知道该公司的混合财务状况是否会对其当前的价格走势产生任何不利影响。具体而言,我们决定在本文中研究HealthEquity的投资回报率。

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 simpler terms, it measures the profitability of a company in relation to shareholder's equity.

投资回报率或股本回报率是评估公司如何有效地从股东那里获得投资回报的有用工具。简而言之,它衡量公司相对于股东权益的盈利能力。

How To Calculate Return On Equity?

如何计算股本回报率?

Return on equity can be calculated by using the formula:

股本回报率可以使用以下公式计算:

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

股本回报率 = 净利润(来自持续经营业务)÷ 股东权益

So, based on the above formula, the ROE for HealthEquity is:

因此,根据上述公式,HealthEquity的投资回报率为:

2.7% = US$56m ÷ US$2.0b (Based on the trailing twelve months to January 2024).

2.7% = 5,600万美元 ÷ 20亿美元(基于截至2024年1月的过去十二个月)。

The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.03.

“回报” 是每年的利润。因此,这意味着其股东每投资1美元,公司就会产生0.03美元的利润。

What Is The Relationship Between ROE And Earnings Growth?

投资回报率与收益增长之间有什么关系?

So far, we've learned that ROE is a measure of a company's profitability. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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.

到目前为止,我们已经了解到,投资回报率是衡量公司盈利能力的指标。现在,我们需要评估公司再投资或 “保留” 了多少利润以用于未来的增长,从而使我们对公司的增长潜力有所了解。假设其他一切保持不变,那么与不一定具有这些特征的公司相比,投资回报率和利润保留率越高,公司的增长率就越高。

HealthEquity's Earnings Growth And 2.7% ROE

HealthEquity 的收益增长和 2.7% 的投资回报率

It is hard to argue that HealthEquity's ROE is much good in and of itself. Even when compared to the industry average of 11%, the ROE figure is pretty disappointing. Given the circumstances, the significant decline in net income by 43% seen by HealthEquity over the last five years is not surprising. We believe that there also might be other aspects that are negatively influencing the company's earnings prospects. Such as - low earnings retention or poor allocation of capital.

很难说HealthEquity的投资回报率本身就非常好。即使与行业平均水平的11%相比,投资回报率的数字也相当令人失望。在这种情况下,HealthEquity在过去五年中净收入大幅下降了43%,这并不奇怪。我们认为,可能还有其他方面对公司的盈利前景产生负面影响。例如-收益保留率低或资本配置不佳。

So, as a next step, we compared HealthEquity's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 5.6% over the last few years.

因此,下一步,我们将HealthEquity的表现与行业进行了比较,失望地发现,尽管该公司一直在缩减收益,但该行业在过去几年中一直以5.6%的速度增长收益。

past-earnings-growth
NasdaqGS:HQY Past Earnings Growth May 23rd 2024
纳斯达克GS:HQY过去的收益增长 2024年5月23日

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is HQY fairly valued? This infographic on the company's intrinsic value has everything you need to know.

为公司附加价值的基础在很大程度上与其收益增长息息相关。对于投资者来说,重要的是要知道市场是否对公司的预期收益增长(或下降)进行了定价。这样做将帮助他们确定股票的未来是乐观还是不祥的。HQY 的价值是否合理?这张关于公司内在价值的信息图包含了你需要知道的一切。

Is HealthEquity Using Its Retained Earnings Effectively?

HealthEquity 能否有效使用其留存收益?

HealthEquity doesn't pay any regular dividends, meaning that the company is keeping all of its profits, which makes us wonder why it is retaining its earnings if it can't use them to grow its business. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.

HealthEquity不支付任何定期分红,这意味着该公司保留了所有利润,这使我们想知道,如果它无法利用收益来发展业务,为什么还要保留收益。看来可能还有其他一些原因可以解释这方面的不足。例如,业务可能会下滑。

Conclusion

结论

On the whole, we feel that the performance shown by HealthEquity can be open to many interpretations. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. 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.

总的来说,我们认为HealthEquity的表现可以有多种解释。尽管该公司的利润保留率确实很高,但其低回报率可能会阻碍其收益增长。既然如此,最新的行业分析师预测显示,分析师预计公司的收益增长率将大幅提高。这些分析师的预期是基于对该行业的广泛预期,还是基于公司的基本面?点击此处进入我们分析师对公司的预测页面。

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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.

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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

译文内容由第三方软件翻译。


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