Haemonetics Corporation's (NYSE:HAE) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Haemonetics Corporation's (NYSE:HAE) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
It is hard to get excited after looking at Haemonetics' (NYSE:HAE) recent performance, when its stock has declined 12% over the past month. 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. Particularly, we will be paying attention to Haemonetics' ROE today.
看了Haemonetics（紐約證券交易所代碼：HAE）最近的表現，很難感到興奮，當時其股票在過去一個月中下跌了12％。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，該公司值得關注。特別是，我們今天將關注Haemonetics的投資回報率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
股本回報率或投資回報率是對公司增值和管理投資者資金的有效性的考驗。換句話說，它是衡量公司股東提供的資本回報率的盈利比率。
How Is ROE Calculated?
ROE 是如何計算的？
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 Haemonetics is:
因此，根據上述公式，Haemonetics 的投資回報率爲：
12% = US$118m ÷ US$960m (Based on the trailing twelve months to March 2024).
12% = 1.18億美元 ÷ 9.6億美元（基於截至2024年3月的過去十二個月）。
The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.12.
“回報” 是每年的利潤。因此，這意味着公司每投資1美元，就會產生0.12美元的利潤。
What Has ROE Got To Do With Earnings Growth?
投資回報率與收益增長有什麼關係？
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. 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。假設其他一切保持不變，那麼與不一定具有這些特徵的公司相比，投資回報率和利潤保留率越高，公司的增長率就越高。
Haemonetics' Earnings Growth And 12% ROE
Haemonetics 的收益增長和 12% 的投資回報率
At first glance, Haemonetics seems to have a decent ROE. And on comparing with the industry, we found that the the average industry ROE is similar at 11%. This probably goes some way in explaining Haemonetics' moderate 13% growth over the past five years amongst other factors.
乍一看，Haemonetics的投資回報率似乎不錯。與行業相比，我們發現行業的平均投資回報率相似，爲11％。這可能在某種程度上解釋了Haemonetics在過去五年中13％的溫和增長以及其他因素。
As a next step, we compared Haemonetics' 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 8.7%.
下一步，我們將Haemonetics的淨收入增長與該行業進行了比較，令人高興的是，我們發現該公司的增長高於行業平均增長8.7％。
Earnings growth is an important metric to consider when valuing a stock. 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 HAE fairly valued? This infographic on the company's intrinsic value has everything you need to know.
收益增長是對股票進行估值時要考慮的重要指標。對於投資者來說，重要的是要知道市場是否對公司的預期收益增長（或下降）進行了定價。這樣做將幫助他們確定股票的未來是樂觀還是不祥的。HAE 的價值是否合理？這張關於公司內在價值的信息圖包含了你需要知道的一切。
Is Haemonetics Using Its Retained Earnings Effectively?
Haemonetics 能否有效使用其留存收益？
Haemonetics doesn't pay any regular dividends, meaning that all of its profits are being reinvested in the business, which explains the fair bit of earnings growth the company has seen.
Haemonetics不支付任何定期股息，這意味着其所有利潤都被再投資於該業務，這解釋了該公司所看到的相當多的收益增長。
Summary
摘要
In total, we are pretty happy with Haemonetics' performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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.
總的來說，我們對Haemonetics的表現非常滿意。具體而言，我們喜歡該公司以高回報率再投資其利潤的很大一部分。當然，這導致該公司的收益大幅增長。話雖如此，從分析師目前的估計來看，我們發現該公司的收益有望增強。這些分析師的預期是基於對該行業的廣泛預期，還是基於公司的基本面？點擊此處進入我們分析師對公司的預測頁面。
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.
對這篇文章有反饋嗎？對內容感到擔憂？直接聯繫我們。 或者，給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論，我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議，也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意，我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之，華爾街沒有持有任何上述股票的頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對這篇文章有反饋嗎？對內容感到擔憂？直接聯繫我們。 或者，發送電子郵件至 editorial-team@simplywallst.com
譯文內容由第三人軟體翻譯。