Semrush Holdings, Inc.'s (NYSE:SEMR) Stock Is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?
Semrush Holdings, Inc.'s (NYSE:SEMR) Stock Is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?
Semrush Holdings' (NYSE:SEMR) stock is up by a considerable 39% over the past three months. However, we wonder if the company's inconsistent financials would have any adverse impact on the current share price momentum. Specifically, we decided to study Semrush Holdings' ROE in this article.
過去三個月，Semrush Holdings（紐交所：SEMR）的股票價格上漲了39％。然而，我們不知道該公司不一致的財務表現是否會對當前股價動能產生任何不利影響。具體來說，本文我們決定研究Semrush Holdings的淨資產收益率（ROE）。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
淨資產收益率（ROE）是評估公司管理層利用股東提供的資本效率的關鍵指標。換句話說，它是一種衡量公司股東提供的資本享受到的回報率的盈利能力比率。
How Do You Calculate Return On Equity?
怎樣計算ROE?
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算：
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 Semrush Holdings is:
因此，根據以上公式，Semrush Holdings的ROE爲：
5.5% = US$13m ÷ US$231m (Based on the trailing twelve months to March 2024).
5.5％= US $ 13m ÷ US $ 231m（基於截至2024年3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 $0.06 in profit.
“回報”是年利潤。一種概念化的方法是，對於每1美元的股東資本，該公司獲得了0.06美元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
既然我們已經確定ROE是一種有效的利潤生成標準，用於評估公司未來的盈利能力，我們現在需要評估公司“保留”爲未來增長而重新投資的利潤多少，這使我們對公司的增長潛力有了一個了解。一般而言，在其他條件相等的情況下，ROE和利潤留存高的公司，增長率比沒有這些屬性的公司要高。
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. 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.
我們已經確定ROE作爲一個有效的盈利生成規則，可以用來評估公司未來的盈利能力。基於公司選擇重新投資或“保留”的利潤數量，我們能夠評估公司未來盈利能力。一般來說，在其他條件相等的情況下，具有高淨資產收益率和利潤留存的公司，比沒有這些屬性的公司具有更高的增長率。
Semrush Holdings' Earnings Growth And 5.5% ROE
Semrush Holdings的盈利增長和5.5％的ROE
At first glance, Semrush Holdings' ROE doesn't look very promising. Next, when compared to the average industry ROE of 11%, the company's ROE leaves us feeling even less enthusiastic. Therefore, it might not be wrong to say that the five year net income decline of 17% seen by Semrush Holdings was probably the result of it having a lower ROE. 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.
乍一看，Semrush Holdings的ROE看起來並不是很有希望。然後，與平均行業ROE相比較，公司的ROE也讓我們感到更加不熱情。因此，可以說Semrush Holdings的五年淨利潤下降了17％，可能是其具有較低ROE的結果。我們認爲，可能還有其他方面對公司的盈利前景產生了負面影響，例如低盈利保留或資本配置不佳。
That being said, we compared Semrush Holdings' performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 15% in the same 5-year period.
話雖如此，我們將Semrush Holdings的表現與行業相比較，當我們發現在同一5年週期內，儘管該公司已經縮減了其收益，但行業基本已經增長了15％時，我們很擔心。
NYSE:SEMR Past Earnings Growth June 4th 2024
紐交所：SEMR 過去的收益增長
Earnings growth is an important metric to consider when valuing a stock. 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. Is Semrush Holdings fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增長是評估股票價值時需要考慮的一個重要指標。接下來，投資者需要判斷期望的盈利增長或其缺失是否已經內在地反映在股價中。這有助於他們判斷股票的未來是否光明還是暗淡。Semrush Holdings與其他公司相比是否公正？這3種評估指標可能會對您做出決策產生幫助。
Is Semrush Holdings Efficiently Re-investing Its Profits?
Semrush Holdings是否有效地重新投資其利潤？
Semrush Holdings doesn't pay any regular dividends, meaning that potentially all of its profits are being reinvested in the business, which doesn't explain why the company's earnings have shrunk if it is retaining all of its profits. So there might be other factors at play here which could potentially be hampering growth. For example, the business has faced some headwinds.
Semrush Holdings不支付任何普通股息，這意味着公司的所有利潤可能都被重新投資於業務中，如果所有利潤都被保留，這並不能解釋爲什麼公司的收益會縮減。因此，可能還有其他因素在起作用，這些因素可能會潛在地阻礙增長。例如，該業務面臨了一些阻礙。
Conclusion
最後，總的來說，我們對阿拉莫集團的表現非常滿意。特別是，公司在大量投資業務和高回報率方面表現出色，這導致其盈利規模的顯着增長。但是，最新分析師預測的研究表明，預計該公司未來的盈利增長將放緩。
On the whole, we feel that the performance shown by Semrush Holdings can be open to many interpretations. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. Having said that, looking at current analyst estimates, we found that the company's earnings growth rate is expected to see a huge improvement. 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.
總體而言，我們認爲Semrush Holdings的表現可以有許多解釋。儘管它似乎正在保留大部分利潤，但考慮到ROE偏低，投資者可能並沒有從所有的再投資中受益。低企業盈利增長證實了我們的理論。即使如此，查看當前的分析師預測，我們發現該公司的盈利增長率有望大幅改善。這些分析師的預測是基於行業的廣泛預期還是基於公司的基本面？單擊此處以轉到本公司的分析師預測頁面。
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？關注內容？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
譯文內容由第三人軟體翻譯。