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.
美國食品控股（紐交所：USFD）的股票在過去三個月裏大幅上漲了28％，股價在市場上表現出色。由於股價通常與公司的長期財務表現保持一致，我們決定更仔細地研究其財務指標，看看它們是否對最近的股價變動起到了作用。具體而言，我們決定在本文中研究美國食品控股的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或股東權益報酬率是一種有用的工具，用於評估一家公司能否有效地利用來自股東的投資產生回報。換句話說，它揭示了公司將股東的投資變成利潤的成功程度。
How Do You Calculate Return On Equity?
如何計算淨資產收益率？
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤（來自持續經營） ÷ 股東權益
So, based on the above formula, the ROE for US Foods Holding is:
因此，根據上述公式，美國食品控股的roe爲：
10% = US$522m ÷ US$5.0b (Based on the trailing twelve months to June 2024).
10％ = 52200萬美元 ÷ 50億美元（截至2024年6月的過去十二個月）。
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.
「回報」是年利潤。換句話說，對於每1美元的股東權益，公司可以賺取0.10美元的利潤。
Why Is ROE Important For Earnings Growth?
ROE爲什麼對淨利潤增長很重要？
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.
到目前爲止，我們已經知道roe是衡量公司盈利能力的一種方法。現在我們需要評估公司重新投資或「保留」的利潤有多少，以此來了解公司的增長潛力。一般來說，其他因素相同的情況下，roe和利潤保留都較高的公司比不具備這些屬性的公司具有更高的增長率。
A Side By Side comparison of US Foods Holding's Earnings Growth And 10% ROE
美國食品控股收益增長和10%roe的並排比較
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，美國食品控股的roe並無太多討論的價值。進一步快速研究發現該公司的roe與15%的行業平均水平也無法令人滿意。然而，我們驚喜地發現，在過去五年中，美國食品控股淨利潤以顯著的26%的速度增長。因此，這種增長背後可能存在其他原因。比如高額的盈利留存或者有效的管理團隊。
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，我們將美國食品控股的淨利潤增長與行業進行了比較，很高興地發現，該公司的增長數據較之行業在同一5年期間14%的增長率要高。
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.
收益增長是股票估值中的一個重要因素。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）是否已經定價。這樣做將有助於他們判斷股票的未來前景是樂觀還是不祥。US Foods Holding的估值合理嗎？該公司的內在價值信息圖表具有您需要了解的一切。
Is US Foods Holding Efficiently Re-investing Its Profits?
美國食品控股是否有效地重新投資其利潤？
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.
美國食品控股不定期向股東支付任何股息，這意味着該公司一直將其所有利潤重新投資到業務中。這可能是上面討論的高收益增長率的推動因素。
Summary
總結
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.
總體而言，我們認爲美國食品控股具有一些積極特徵。儘管ROE較低，但隨着高再投資率，公司的利潤增長率顯著增長。話雖如此，根據當前分析師預測，公司的盈利增長預期將放緩。想了解更多關於該公司的最新分析師預測，請查看該公司分析師預測的可視化。
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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論，使用公正的方法，我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議，並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意，我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。
譯文內容由第三人軟體翻譯。