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Skechers U.S.A., Inc.'s (NYSE:SKX) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
Skechers U.S.A., Inc.'s (NYSE:SKX) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
Skechers U.S.A (NYSE:SKX) has had a rough month with its share price down 9.2%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. Specifically, we decided to study Skechers U.S.A's ROE in this article.
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.
View our latest analysis for Skechers U.S.A
How Do You Calculate Return On Equity?
Return on equity can be calculated by using the formula:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Skechers U.S.A is:
21% = US$782m ÷ US$3.7b (Based on the trailing twelve months to June 2022).
The 'return' refers to a company's earnings over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.21.
Why Is ROE Important For Earnings Growth?
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. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
Skechers U.S.A's Earnings Growth And 21% ROE
To start with, Skechers U.S.A's ROE looks acceptable. And on comparing with the industry, we found that the the average industry ROE is similar at 19%. Consequently, this likely laid the ground for the impressive net income growth of 24% seen over the past five years by Skechers U.S.A. We believe that there might also be other aspects that are positively influencing the company's earnings growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
As a next step, we compared Skechers U.S.A's 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 7.5%.
NYSE:SKX Past Earnings Growth September 19th 2022Earnings 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 Skechers U.S.A fairly valued compared to other companies? These 3 valuation measures might help you decide.
Is Skechers U.S.A Efficiently Re-investing Its Profits?
Given that Skechers U.S.A doesn't pay any dividend to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
Conclusion
On the whole, we feel that Skechers U.S.A's performance has been quite good. 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. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. 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.
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.
Skechers USA(纽约证券交易所代码:SKX)经历了艰难的一个月,其股价下跌了9.2%。但如果你仔细观察,你可能会猜到,它强劲的财务状况可能意味着,考虑到市场通常会奖励财务状况良好的公司,该股可能会在长期内增值。具体地说,我们决定在本文中研究Skechers USA的净资产收益率。
股本回报率(ROE)是用来评估公司管理层利用公司资本效率的关键指标。换句话说,它揭示了该公司成功地将股东投资转化为利润。
查看我们对Skechers USA的最新分析
你如何计算股本回报率?
股本回报率可使用以下公式计算:
股本回报率=(持续经营的)净利润?股东权益
因此,根据上述公式,Skechers U.S.的净资产收益率为:
21%=7.82亿美元×37亿美元(基于截至2022年6月的12个月)。
“回报”指的是一家公司过去一年的收益。因此,这意味着股东每投资1美元,公司就会产生0.21美元的利润。
为什么净资产收益率对收益增长很重要?
我们已经证实,净资产收益率是一家公司未来收益的有效盈利指标。我们现在需要评估公司将多少利润再投资或“保留”用于未来的增长,这就让我们对公司的增长潜力有了一个了解。假设其他条件相同,与没有相同特征的公司相比,拥有更高股本回报率和更高利润保留率的公司通常会有更高的增长率。
斯凯奇美国公司的收益增长和21%的净资产收益率
首先,斯凯奇美国公司的净资产收益率看起来可以接受。并与行业进行比较,发现行业平均净资产收益率相似,为19%。因此,这可能为斯凯奇美国公司在过去五年中令人印象深刻的24%的净收入增长奠定了基础。我们认为,可能还有其他方面正在积极影响公司的收益增长。例如,公司管理层可能做出了一些良好的战略决策,或者公司的派息率较低。
下一步,我们将Skechers USA的净收入增长与行业进行了比较,令人欣喜的是,我们发现该公司看到的增长高于行业平均7.5%的增长。
纽约证券交易所:SKX过去的收益增长2022年9月19日盈利增长是评估一只股票时需要考虑的一个重要指标。投资者应该尝试确定预期的收益增长或下降是否已计入价格,无论是哪种情况。这有助于他们确定这只股票是为光明还是黯淡的未来做准备。与其他公司相比,斯凯奇美国公司的价值是否公平?这3个估值指标可能会帮助你做出决定。
斯凯奇美国公司是否有效地将其利润进行了再投资?
鉴于Skechers USA不向股东支付任何股息,我们推断该公司一直在将所有利润再投资于业务增长。
结论
总体而言,我们觉得斯凯奇美国公司的表现相当不错。具体地说,我们喜欢该公司将一大笔利润以高回报率进行再投资。当然,这导致该公司的收益出现了大幅增长。话虽如此,最新的行业分析师预测显示,该公司的收益增长预计将放缓。这些分析师的预期是基于对该行业的广泛预期,还是基于该公司的基本面?点击此处进入我们分析师对该公司的预测页面。
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
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