Jones Lang LaSalle Incorporated's (NYSE:JLL) Stock Is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?
Jones Lang LaSalle Incorporated's (NYSE:JLL) Stock Is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?
Jones Lang LaSalle's (NYSE:JLL) stock is up by a considerable 31% 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. Particularly, we will be paying attention to Jones Lang LaSalle's ROE today.
過去三個月，仲量聯行（NYSE：JLL）的股票價格大幅上漲31％。但我們不知道公司看似不穩定的財務狀況是否會對當前的股價勢頭產生任何不利影響。特別地，我們將重點關注仲量聯行今日的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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回報率或ROE是一項用於評估公司管理層如何利用公司資本的效率的關鍵指標。簡而言之，它用於評估公司相對於其股本資本的盈利能力。
How Is ROE Calculated?
淨資產收益率怎麼計算？
The formula for ROE is:
roe的公式是：
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 Jones Lang LaSalle is:
因此，根據上述公式，仲量聯行的roe爲：
4.7% = US$301m ÷ US$6.4b (Based on the trailing twelve months to March 2024).
4.7％= 3.0100億美元÷640億美元（基於過去12個月至2024年3月）。
The 'return' is the income the business earned over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.05 in profit.
‘回報’是企業在過去一年中獲得的收入。這意味着對於每1美元的股東權益，公司創造了0.05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？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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. 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。
Jones Lang LaSalle's Earnings Growth And 4.7% ROE
仲量聯行的收益增長和4.7％的roe
At first glance, Jones Lang LaSalle's ROE doesn't look very promising. However, given that the company's ROE is similar to the average industry ROE of 4.9%, we may spare it some thought. Still, Jones Lang LaSalle has seen a flat net income growth over the past five years. Bear in mind, the company's ROE is not very high. So that could also be one of the reasons behind the company's flat growth in earnings.
乍一看，仲量聯行的roe看起來並不太可喜。但是，考慮到公司的roe與行業平均roe接近，我們可以考慮一下。但是，仲量聯行在過去五年中的淨利潤增長停滯不前。請記住，該公司的roe並不是很高。因此，這也可能是公司收益停滯不前的原因之一。
Next, on comparing with the industry net income growth, we found that the industry grew its earnings by 14% over the last few years.
接下來，我們將行業淨收入增長與成都智明達電子進行比較，發現行業過去幾年增長了14%。
Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Is JLL fairly valued? This infographic on the company's intrinsic value has everything you need to know.
收益增長是估值股票時需要考慮的重要指標。投資者應該努力確定預期的收益增長或下降（無論哪種情況），是否被定價。然後，這有助於他們判斷股票的未來是光明還是黯淡。JLL是否公允定價？這份有關公司內在價值的信息圖包含您需要了解的一切。
Is Jones Lang LaSalle Efficiently Re-investing Its Profits?
仲量聯行是否有效地重新投資其利潤？
Jones Lang LaSalle 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. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
仲量聯行不支付任何常規股息，這意味着其所有利潤都有可能被重新投資於業務中。但是，這並不能解釋爲什麼該公司沒有看到任何增長。看起來似乎有其他原因來解釋這個問題。例如，該業務可能正在衰退。
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。
In total, we're a bit ambivalent about Jones Lang LaSalle's 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. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總體而言，我們對仲量聯行的表現有些矛盾的看法。儘管它似乎保留了大部分利潤，但考慮到roe較低，投資者可能並沒有從所有的再投資中受益。低收益增長表明我們的理論是正確的。話雖如此，最新的行業分析師預測顯示，分析師們預計該公司的收益增長率將有巨大的提高。如需了解有關該公司最新分析師預測的更多信息，請查看該公司的分析師預測可視化。
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對本文有任何反饋？對內容有任何疑慮？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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。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。