US Foods Holding Corp.'s (NYSE:USFD) Stock Has Seen Strong Momentum: Does That Call For Deeper Study Of Its Financial Prospects?
US Foods Holding Corp.'s (NYSE:USFD) Stock Has Seen Strong Momentum: Does That Call For Deeper Study Of Its Financial Prospects?
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity US Foods Holding (NYSE:USFD) has had a great run on the share market with its stock up by a significant 28% over the last three months. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to study its financial indicators more closely to see if they had a hand to play in the recent price move. Specifically, we decided to study US Foods Holding's ROE in this article.
美国食品控股（纽交所：USFD）的股票在过去三个月里大幅上涨了28％，股价在市场上表现出色。由于股价通常与公司的长期财务表现保持一致，我们决定更仔细地研究其财务指标，看看它们是否对最近的股价变动起到了作用。具体而言，我们决定在本文中研究美国食品控股的roe。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE或股东权益报酬率是一种有用的工具，用于评估一家公司能否有效地利用来自股东的投资产生回报。换句话说，它揭示了公司将股东的投资变成利润的成功程度。
How Do You Calculate Return On Equity?
如何计算净资产收益率？
Return on equity can be calculated by using the formula:
股东权益报酬率可以使用以下公式计算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润（来自持续经营） ÷ 股东权益
So, based on the above formula, the ROE for US Foods Holding is:
因此，根据上述公式，美国食品控股的roe为：
10% = US$522m ÷ US$5.0b (Based on the trailing twelve months to June 2024).
10％ = 52200万美元 ÷ 50亿美元（截至2024年6月的过去十二个月）。
The 'return' is the yearly profit. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.10 in profit.
“回报”是年利润。换句话说，对于每1美元的股东权益，公司可以赚取0.10美元的利润。
Why Is ROE Important For Earnings Growth?
ROE为什么对净利润增长很重要？
So far, we've learned that ROE is a measure of a company's profitability. 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.
到目前为止，我们已经知道roe是衡量公司盈利能力的一种方法。现在我们需要评估公司重新投资或“保留”的利润有多少，以此来了解公司的增长潜力。一般来说，其他因素相同的情况下，roe和利润保留都较高的公司比不具备这些属性的公司具有更高的增长率。
A Side By Side comparison of US Foods Holding's Earnings Growth And 10% ROE
美国食品控股收益增长和10%roe的并排比较
On the face of it, US Foods Holding's ROE is not much to talk about. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 15% either. However, we we're pleasantly surprised to see that US Foods Holding grew its net income at a significant rate of 26% in the last five years. Therefore, there could be other reasons behind this growth. Such as - high earnings retention or an efficient management in place.
乍一看，美国食品控股的roe并无太多讨论的价值。进一步快速研究发现该公司的roe与15%的行业平均水平也无法令人满意。然而，我们惊喜地发现，在过去五年中，美国食品控股净利润以显著的26%的速度增长。因此，这种增长背后可能存在其他原因。比如高额的盈利留存或者有效的管理团队。
We then compared US Foods Holding's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 14% in the same 5-year period.
接着，我们将美国食品控股的净利润增长与行业进行了比较，很高兴地发现，该公司的增长数据较之行业在同一5年期间14%的增长率要高。
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. Is USFD fairly valued? This infographic on the company's intrinsic value has everything you need to know.
收益增长是股票估值中的一个重要因素。投资者应该努力确定预期的收益增长或下降（无论哪种情况）是否已经定价。这样做将有助于他们判断股票的未来前景是乐观还是不祥。US Foods Holding的估值合理吗？该公司的内在价值信息图表具有您需要了解的一切。
Is US Foods Holding Efficiently Re-investing Its Profits?
美国食品控股是否有效地重新投资其利润？
US Foods Holding 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.
美国食品控股不定期向股东支付任何股息，这意味着该公司一直将其所有利润重新投资到业务中。这可能是上面讨论的高收益增长率的推动因素。
Summary
总结
On the whole, we do feel that US Foods Holding has some positive attributes. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable 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.
总体而言，我们认为美国食品控股具有一些积极特征。尽管ROE较低，但随着高再投资率，公司的利润增长率显著增长。话虽如此，根据当前分析师预测，公司的盈利增长预期将放缓。想了解更多关于该公司的最新分析师预测，请查看该公司分析师预测的可视化。
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