share_log

Does The Market Have A Low Tolerance For Johnson Outdoors Inc.'s (NASDAQ:JOUT) Mixed Fundamentals?

Does The Market Have A Low Tolerance For Johnson Outdoors Inc.'s (NASDAQ:JOUT) Mixed Fundamentals?

市场对强生户外公司的容忍度低吗s(纳斯达克股票代码:JOUT)基本面好坏参半?
Simply Wall St ·  01/06 09:27

With its stock down 9.7% over the past month, it is easy to disregard Johnson Outdoors (NASDAQ:JOUT). We, however decided to study the company's financials to determine if they have got anything to do with the price decline. Long-term fundamentals are usually what drive market outcomes, so it's worth paying close attention. Particularly, we will be paying attention to Johnson Outdoors' ROE today.

由于其股价在过去一个月中下跌了9.7%,人们很容易忽视强生户外(纳斯达克股票代码:JOUT)。但是,我们决定研究公司的财务状况,以确定它们是否与价格下跌有关。长期基本面通常是推动市场结果的因素,因此值得密切关注。特别是,我们今天将关注强生户外的投资回报率。

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Put another way, it reveals the company's success at turning shareholder investments into profits.

股本回报率或投资回报率是对公司价值增长和管理投资者资金的有效性的考验。换句话说,它揭示了该公司成功地将股东投资转化为利润。

See our latest analysis for Johnson Outdoors

查看我们对强生户外的最新分析

How Is ROE Calculated?

投资回报率是如何计算的?

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 Johnson Outdoors is:

因此,根据上述公式,强生户外的投资回报率为:

3.9% = US$20m ÷ US$500m (Based on the trailing twelve months to September 2023).

3.9% = 2,000万美元 ÷ 5亿美元(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. That means that for every $1 worth of shareholders' equity, the company generated $0.04 in profit.

“回报” 是企业在过去一年中获得的收入。这意味着,每获得价值1美元的股东权益,该公司就会产生0.04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. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. 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,我们已经了解到,投资回报率是衡量公司盈利能力的指标。然后,根据公司对这些利润进行再投资或 “保留” 的金额及其有效性,我们就能评估公司的盈利增长潜力。一般而言,在其他条件相同的情况下,股本回报率和利润保留率高的公司比不具备这些属性的公司的增长率更高。

Johnson Outdoors' Earnings Growth And 3.9% ROE

强生户外的收益增长和3.9%的投资回报率

It is quite clear that Johnson Outdoors' ROE is rather low. Even when compared to the industry average of 12%, the ROE figure is pretty disappointing. As a result, Johnson Outdoors' flat earnings over the past five years doesn't come as a surprise given its lower ROE.

很明显,强生户外的投资回报率相当低。即使与12%的行业平均水平相比,投资回报率的数字也相当令人失望。因此,鉴于其投资回报率较低,强生户外在过去五年中的固定收益并不令人意外。

We then compared Johnson Outdoors' net income growth with the industry and found that the average industry growth rate was 18% in the same 5-year period.

然后,我们将强生户外的净收入增长与该行业进行了比较,发现同期的行业平均增长率为18%。

past-earnings-growth
NasdaqGS:JOUT Past Earnings Growth January 6th 2024
NASDAQGS: JOUT 过去的收益增长 2024 年 1 月 6 日

Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Johnson Outdoors''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

收益增长是股票估值的重要因素。投资者接下来需要确定的是,预期的收益增长或缺乏收益是否已经包含在股价中。这样做将帮助他们确定股票的未来是乐观还是不祥的。如果你想知道强生户外的估值,可以看看这个衡量其市盈率与行业相比的指标。

Is Johnson Outdoors Using Its Retained Earnings Effectively?

强生户外是否有效地使用了其留存收益?

Johnson Outdoors' low three-year median payout ratio of 20% (implying that the company keeps80% of its income) should mean that the company is retaining most of its earnings to fuel its growth and this should be reflected in its growth number, but that's not the case.

Johnson Outdoors的三年低派息率中位数为20%(这意味着该公司保留了80%的收入),这应该意味着该公司保留了大部分收益来推动增长,这应该反映在其增长数字中,但事实并非如此。

In addition, Johnson Outdoors has been paying dividends over a period of at least ten years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth.

此外,Johnson Outdoors在至少十年内一直在支付股息,这表明即使以牺牲业务增长为代价,继续支付股息对管理层来说也更为重要。

Conclusion

结论

Overall, we have mixed feelings about Johnson Outdoors. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. 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 company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.

总的来说,我们对强生户外运动有喜忧参半的感觉。尽管该公司的利润保留率确实很高,但其低回报率可能会阻碍其收益增长。既然如此,最新的行业分析师预测显示,分析师预计公司的收益增长率将得到巨大改善。要了解有关公司未来收益增长预测的更多信息,请查看这份关于分析师预测的免费报告,以了解更多信息。

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.

对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
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。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
    抢沙发