Are BrightView Holdings, Inc.'s (NYSE:BV) Mixed Financials The Reason For Its Gloomy Performance on The Stock Market?
Are BrightView Holdings, Inc.'s (NYSE:BV) Mixed Financials The Reason For Its Gloomy Performance on The Stock Market?
BrightView Holdings (NYSE:BV) has had a rough week with its share price down 7.7%. We, however decided to study the company's financials to determine if they have got anything to do with the price decline. Long-term fundamentals are usually what drive market outcomes, so it's worth paying close attention. In this article, we decided to focus on BrightView Holdings' ROE.
BrightView Holdings（紐交所：BV）這個星期股價下跌了7.7%。然而，我們決定研究公司的財務狀況以確定它們是否與價格下跌有關。長期的基本面通常是推動市場走勢的關鍵，值得密切關注。在本文中，我們決定關注BrightView Holdings的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE，即淨資產收益率，測試一家公司有效增加價值和管理股東資金的能力。換句話說，它揭示了公司將股東投資轉化爲利潤的成功程度。
How Is ROE Calculated?
淨資產收益率怎麼計算？
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 BrightView Holdings is:
因此，根據上述公式，BrightView Holdings的roe爲：
2.9% = US$51m ÷ US$1.8b (Based on the trailing twelve months to March 2024).
2.9% = 5100萬美元 ÷ 18億美元（以2024年3月爲基準的過去12個月）。
The 'return' refers to a company's earnings over the last year. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.03 in profit.
“回報”是指公司過去一年的收益。換句話說，對於每1美元的股權，該公司能夠獲得0.03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。
So far, we've learned that ROE is a measure of a company's profitability. 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 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是公司盈利能力的一種衡量標準。根據公司重新投資或“保留”的利潤數量和效率，我們可以評估公司的盈利增長潛力。假設其他所有因素保持不變，roe和保留的利潤越高，相對於不一定具有這些特徵的公司，公司的增長率就越高。
A Side By Side comparison of BrightView Holdings' Earnings Growth And 2.9% ROE
與BrightView Holdings收益增長和2.9%的roe相比較
As you can see, BrightView Holdings' ROE looks pretty weak. Even compared to the average industry ROE of 12%, the company's ROE is quite dismal. As a result, BrightView Holdings' flat earnings over the past five years doesn't come as a surprise given its lower ROE.
可以看出，BrightView Holdings的roe看起來相當弱勢。即使與行業平均roe 12%相比，公司的roe也相當慘淡。因此，考慮到其較低的roe，過去五年中BrightView Holdings的平坦收益並不令人意外。
We then compared BrightView Holdings' net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 12% in the same 5-year period, which is a bit concerning.
我們還將BrightView Holdings的淨利潤增長與行業進行了比較，並發現該公司在同一5年期間的增長率低於行業平均增長率12%，這有些令人擔憂。
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. What is BV worth today? The intrinsic value infographic in our free research report helps visualize whether BV is currently mispriced by the market.
盈利增長是股票估值的重要因素。投資者需要下一步確定的是，預期的盈利增長或缺乏盈利增長是否已經在股價中反映。這將幫助他們判斷股票是前途光明還是前途黯淡。BV今天值多少錢？我們的免費研究報告中的內在價值信息圖可以幫助你判斷BV當前是否被市場定價錯誤。
Is BrightView Holdings Using Its Retained Earnings Effectively?
BrightView Holdings是否有效利用其留存收益？
BrightView Holdings doesn't pay any regular dividends, meaning that potentially all of its profits are being reinvested in the business. However, this doesn't explain why the company hasn't seen any growth. So there could be some other explanations in that regard. For instance, the company's business may be deteriorating.
BrightView Holdings不支付任何定期股息，這意味着其所有利潤都有可能被再投資到業務中。但這並不能解釋爲什麼該公司沒有看到任何增長。因此，在這方面可能會有一些其他解釋。例如，該公司的業務可能在惡化。
Conclusion
結論
In total, we're a bit ambivalent about BrightView Holdings' performance. 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 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BrightView Holdings的表現有些矛盾。雖然它似乎已經留住了大部分利潤，但考慮到低roe，投資者可能並未從所有再投資中受益。低收益增長證實了我們的理論。儘管如此，根據目前的分析師預測，我們發現公司的盈利預計將獲得增長。這些分析師預測是基於行業的廣泛預期還是公司的基本面？點擊此處訪問我們的分析師預測頁面。
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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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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譯文內容由第三人軟體翻譯。