FTI Consulting, Inc.'s (NYSE:FCN) Stock Is Going Strong: Is the Market Following Fundamentals?
FTI Consulting, Inc.'s (NYSE:FCN) Stock Is Going Strong: Is the Market Following Fundamentals?
Most readers would already be aware that FTI Consulting's (NYSE:FCN) stock increased significantly by 12% over the past three months. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes. In this article, we decided to focus on FTI Consulting's ROE.
大多数读者已经意识到，FTI咨询公司（纽约证券交易所代码：FCN）的股票在过去三个月中大幅上涨了12％。鉴于公司的出色表现，我们决定更仔细地研究其财务指标，因为公司的长期财务状况通常决定市场业绩。在本文中，我们决定重点关注FTI咨询的投资回报率。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
股本回报率或投资回报率是用于评估公司管理层利用公司资本效率的关键指标。换句话说，它是衡量公司股东提供的资本回报率的盈利比率。
Check out our latest analysis for FTI Consulting
查看我们对FTI咨询的最新分析
How To Calculate Return On Equity?
如何计算股本回报率？
Return on equity can be calculated by using the formula:
股本回报率可以使用以下公式计算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润（来自持续经营）÷ 股东权益
So, based on the above formula, the ROE for FTI Consulting is:
因此，根据上述公式，FTI Consulting的投资回报率为：
13% = US$241m ÷ US$1.9b (Based on the trailing twelve months to September 2023).
13% = 2.41亿美元 ¥19亿美元（基于截至2023年9月的过去十二个月）。
The 'return' is the income the business earned over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.13 in profit.
“回报” 是企业在过去一年中获得的收入。对此进行概念化的一种方法是，该公司每拥有1美元的股东资本，就会获得0.13美元的利润。
What Is The Relationship Between ROE And Earnings Growth?
投资回报率与收益增长之间有什么关系？
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. 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.
到目前为止，我们已经了解到，投资回报率是衡量公司盈利能力的指标。现在，我们需要评估公司再投资或 “保留” 了多少利润以用于未来的增长，从而使我们对公司的增长潜力有所了解。假设其他一切保持不变，那么与不一定具有这些特征的公司相比，投资回报率和利润保留率越高，公司的增长率就越高。
FTI Consulting's Earnings Growth And 13% ROE
FTI Consulting的收益增长和13％的投资回报率
To begin with, FTI Consulting seems to have a respectable ROE. Further, the company's ROE is similar to the industry average of 13%. This probably goes some way in explaining FTI Consulting's moderate 5.7% growth over the past five years amongst other factors.
首先，FTI咨询公司的投资回报率似乎不错。此外，该公司的投资回报率与行业平均水平的13％相似。这可能在某种程度上解释了FTI Consulting在过去五年中温和增长5.7％以及其他因素。
We then compared FTI Consulting's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 11% in the same 5-year period, which is a bit concerning.
然后，我们将FTI Consulting的净收入增长与该行业进行了比较，发现该公司的增长数字低于同期11％的行业平均增长率，这有点令人担忧。
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if FTI Consulting is trading on a high P/E or a low P/E, relative to its industry.
收益增长是股票估值的重要因素。对于投资者来说，重要的是要知道市场是否对公司的预期收益增长（或下降）进行了定价。通过这样做，他们将知道股票是走向清澈的蓝色海水，还是沼泽的水域在等着你。衡量预期收益增长的一个很好的指标是市盈率，它根据收益前景决定了市场愿意为股票支付的价格。因此，您可能需要检查FTI Consulting相对于其行业是高市盈率还是低市盈率。
Is FTI Consulting Making Efficient Use Of Its Profits?
FTI 咨询是否在有效利用其利润？
FTI Consulting doesn't pay any dividend, meaning that all of its profits are being reinvested in the business, which explains the fair bit of earnings growth the company has seen.
FTI Consulting不支付任何股息，这意味着其所有利润都被再投资于该业务，这解释了该公司实现了相当多的收益增长。
Summary
摘要
On the whole, we feel that FTI Consulting's performance has been quite good. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. As a result, the decent growth in its earnings is not surprising. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总的来说，我们认为FTI Consulting的表现相当不错。特别是，我们喜欢该公司对其业务进行大量再投资，而且回报率很高。因此，其收益的体面增长不足为奇。话虽如此，最新的行业分析师预测显示，该公司的收益有望加速。要详细了解分析师对公司的最新预测，请查看该公司的分析师预测的可视化。
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Simply Wall St 的这篇文章本质上是笼统的。我们仅使用公正的方法提供基于历史数据和分析师预测的评论，我们的文章并非旨在提供财务建议。它不构成买入或卖出任何股票的建议，也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意，我们的分析可能不会考虑最新的价格敏感型公司公告或定性材料。华尔街只是没有持有上述任何股票的头寸。