Summit Materials, Inc. (NYSE:SUM) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
Summit Materials, Inc. (NYSE:SUM) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
With its stock down 12% over the past three months, it is easy to disregard Summit Materials (NYSE:SUM). However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. In this article, we decided to focus on Summit Materials' ROE.
在過去的三個月中，股價下跌了12％，很容易忽略Summit Materials (NYSE:SUM)。然而，該公司的基本面看起來相當不錯，長期財務通常與未來的市場價格動向保持一致。本文決定關注Summit Materials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. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE或股東權益報酬率是一種有用的工具，用於評估一家公司能否有效地利用來自股東的投資產生回報。換句話說，它揭示了公司將股東的投資變成利潤的成功程度。
How Do You Calculate Return On Equity?
怎樣計算ROE?
ROE can be calculated by using the formula:
淨資產收益率可以使用以下公式進行計算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤（從持續經營中獲得）÷ 股東權益
So, based on the above formula, the ROE for Summit Materials is:
因此，根據上面的公式，Summit Materials的ROE爲：
6.0% = US$254m ÷ US$4.2b (Based on the trailing twelve months to March 2024).
6.0％= US $ 254m ÷ US $ 4.2b（基於截至2024年3月的過去12個月）。
The 'return' is the amount earned after tax over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.06 in profit.
“回報”是過去12個月稅後賺得的金額。這意味着對於每1美元的股東權益，該公司創造了0.06美元的利潤。
What Has ROE Got To Do With Earnings Growth?
ROE與盈利增長有什麼關係？
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.
因此，我們已經了解到roe是衡量公司利潤率的有效方法。根據公司重新投資或“保留”這些收益的程度以及其有效程度，我們就能評估公司的盈利增長潛力。假設其他條件相同，權益回報率和利潤保留越高的公司通常比沒有相同特點的公司具有更快的增長率。
Summit Materials' Earnings Growth And 6.0% ROE
Summit Materials的盈利增長和6.0％的ROE
At first glance, Summit Materials' ROE doesn't look very promising. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 15% either. In spite of this, Summit Materials was able to grow its net income considerably, at a rate of 34% in the last five years. So, there might be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.
乍一看，Summit Materials的ROE看起來並不是很有前途。快速的進一步研究顯示，該公司的ROE與產業的平均15％相比沒有任何優勢。儘管如此，Summit Materials在過去五年中的淨收入增長率達到了34％。因此，可能有其他積極影響公司收益增長的因素。例如，公司的支付比率很低或者正在有效地管理。
As a next step, we compared Summit Materials' 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 21%.
作爲下一步，我們將Summit Materials的淨收入增長與行業進行了比較，令人高興的是，我們發現該公司的增長率高於行業平均增長率21％。
Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. If you're wondering about Summit Materials''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
盈利增長是股票估值中的一個重要因素。投資者需要確定的下一步是預期的盈利增長，或者缺乏它是否已經反映在股價中。這有助於他們確定股票是處於光明還是黯淡的未來。如果你想知道Summit Materials的估值，請查看其市盈率與行業的比較。
Is Summit Materials Making Efficient Use Of Its Profits?
Summit Materials是否有效地利用其利潤？
Given that Summit Materials 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.
考慮到Summit Materials沒有向股東支付任何定期股息，我們推斷該公司一直在將其所有利潤重新投資以發展業務。
Summary
總的來說，我們對偉明環保的表現非常滿意。具體而言，我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然，這導致公司的收益大幅增長。但是，最新的行業分析師預測表明，該公司的收益預計將加速增長。
On the whole, we do feel that Summit Materials has some positive attributes. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high earnings growth. We also studied the latest analyst forecasts and found that the company's earnings growth is expected be similar to its current growth rate. 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，我們確實覺得Summit Materials具有一些積極的特徵。儘管其回報率較低，但公司將其大部分利潤再投資到業務中的事實無疑爲其高收益增長做出了貢獻。我們還研究了最新的分析師預測，並發現該公司的盈利增長預計將類似於其當前的增長率。要了解更多關於公司未來盈利增長預測的信息，請參閱分析師預測的免費報告。
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