Flex Ltd.'s (NASDAQ:FLEX) Stock's On An Uptrend: Are Strong Financials Guiding The Market?
Flex Ltd.'s (NASDAQ:FLEX) Stock's On An Uptrend: Are Strong Financials Guiding The Market?
Flex (NASDAQ:FLEX) has had a great run on the share market with its stock up by a significant 14% over the last three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Particularly, we will be paying attention to Flex's ROE today.
在過去三個月中，納斯達克公司Flex（NASDAQ:FLEX）的股票上漲了14%，在股市上表現良好。長期以來，市場對堅實的財務狀況進行獎勵，我們想知道這種情況是否適用於此。特別是，我們將關注Flex的roe信心指數（return on equity）。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股東必須考慮股本回報率或ROE，因爲它告訴他們公司如何有效地重新投資他們的資本。 簡而言之，ROE顯示每美元股東投資所產生的利潤。
How Do You Calculate Return On Equity?
怎樣計算ROE?
The formula for return on equity is:
權益回報率的計算公式是：
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 Flex is:
因此，根據上述公式，Flex的roe信心指數爲：
16% = US$872m ÷ US$5.3b (Based on the trailing twelve months to March 2024).
16% = 8.72億美元 ÷ 53億美元（基於截至2024年3月的最近十二個月）。
The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.16 in profit.
“回報”是指過去12個月稅後所賺的金額。一種概念化的方法是，對於每1美元的股東資本，公司的利潤爲0.16美元。
Why Is ROE Important For Earnings Growth?
ROE對於盈利增長的重要性是什麼？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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.
到目前爲止，我們已經了解了ROE衡量公司利潤產生效率的方式。現在我們需要評估公司重新投資或“保留”的利潤是多少，這會讓我們對公司的增長潛力有一個想法。假設其他一切保持不變，ROE和利潤保留率越高，公司的增長率就越高，相比於不一定具備這些特徵的公司。
A Side By Side comparison of Flex's Earnings Growth And 16% ROE
Flex盈利增長和16%roe信心指數的並排比較。
To begin with, Flex seems to have a respectable ROE. Further, the company's ROE compares quite favorably to the industry average of 9.6%. This probably laid the ground for Flex's significant 34% net income growth seen over the past five years. We reckon that there could also be other factors at play here. For instance, the company has a low payout ratio or is being managed efficiently.
首先，Flex看起來擁有一個令人尊重的roe信心指數。此外，公司的roe信心指數與行業平均水平9.6%相比非常有競爭力。這可能爲Flex在過去五年中顯着的34%淨利潤增長奠定了基礎。我們認爲這裏可能還有其他因素起作用。例如，公司具有較低的派息比率或被有效管理。
As a next step, we compared Flex'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 15%.
作爲下一步，我們將Flex的淨利潤增長與行業進行了比較，令人高興的是，我們發現公司實現的增長高於行業平均增長率15%。
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. Doing so will help them establish if the stock's future looks promising or ominous. Has the market priced in the future outlook for FLEX? You can find out in our latest intrinsic value infographic research report.
盈利增長是股票估值的一個重要因素。投資者應該嘗試確定預期的盈利增長或下降，無論哪種情況，是否已經定價。這樣做將有助於他們確定股票的未來前景是光明的還是不祥的。市場是否已經爲FLEX的未來展望定價？您可以在我們的最新本質價值信息圖研究報告中找到答案。
Is Flex Using Its Retained Earnings Effectively?
Flex是否有效地利用了留存盈利？
Flex doesn't pay any regular dividends to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
Flex不向股東支付任何常規股息，意味着公司一直將所有利潤重新投入到業務中。這很可能是上述高盈利增長的推動力。
Conclusion
結論
Overall, we are quite pleased with Flex'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. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總的來說，我們對Flex的表現感到相當滿意。特別是，看到公司大力投入業務，並伴隨着高回報率，導致其盈利顯著增長，這是非常不錯的。雖然如此，根據當前分析師的預測，公司的盈利增長預計會放緩。如需了解有關該公司的最新分析師預測，請查看此可視化分析師預測報告。
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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。
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譯文內容由第三人軟體翻譯。