Is A10 Networks, Inc.'s (NYSE:ATEN) Latest Stock Performance A Reflection Of Its Financial Health?
Is A10 Networks, Inc.'s (NYSE:ATEN) Latest Stock Performance A Reflection Of Its Financial Health?
A10 Networks' (NYSE:ATEN) stock is up by a considerable 13% 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. Particularly, we will be paying attention to A10 Networks' ROE today.
在过去三个月中，A10网络（纽约证券交易所代码：ATEN）的股票上涨了13％。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。特别是，我们今天将关注A10网络的投资回报率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回报率或投资回报率是对公司增值和管理投资者资金的有效性的考验。简而言之，它用于评估公司相对于其股权资本的盈利能力。
How Is ROE Calculated?
ROE 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（来自持续经营业务）÷ 股东权益
So, based on the above formula, the ROE for A10 Networks is:
因此，根据上述公式，A10网络的投资回报率为：
19% = US$40m ÷ US$208m (Based on the trailing twelve months to December 2023).
19% = 4000万美元 ÷ 2.08亿美元（基于截至2023年12月的过去十二个月）。
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 $0.19.
“回报” 是指公司去年的收益。因此，这意味着公司每投资1美元，就会产生0.19美元的利润。
What Has ROE Got To Do With Earnings Growth?
投资回报率与收益增长有什么关系？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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，投资回报率衡量的是公司创造利润的效率。根据公司选择将多少利润进行再投资或 “保留”，我们便能够评估公司未来创造利润的能力。一般而言，在其他条件相同的情况下，股本回报率和利润留存率高的公司的增长率要高于不具有这些属性的公司。
A Side By Side comparison of A10 Networks' Earnings Growth And 19% ROE
A10 Networks的收益增长和19％的投资回报率的并排比较
To begin with, A10 Networks seems to have a respectable ROE. Especially when compared to the industry average of 13% the company's ROE looks pretty impressive. Probably as a result of this, A10 Networks was able to see an impressive net income growth of 49% over the last five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.
首先，A10网络的投资回报率似乎相当不错。特别是与行业平均水平的13％相比，该公司的投资回报率看起来相当可观。可能是由于这个原因，A10 Networks在过去五年中实现了令人印象深刻的49％的净收入增长。我们认为，可能还有其他方面对公司的收益增长产生积极影响。例如——高收益留存率或实行高效管理。
As a next step, we compared A10 Networks' 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 15%.
下一步，我们将A10 Networks的净收入增长与该行业进行了比较，令人高兴的是，我们发现该公司的增长高于15％的行业平均增长。
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. This then helps them determine if the stock is placed for a bright or bleak future. Is A10 Networks fairly valued compared to other companies? These 3 valuation measures might help you decide.
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。然后，这可以帮助他们确定股票是面向光明还是暗淡的未来。与其他公司相比，A10 Networks的估值是否合理？这3种估值指标可能会帮助您做出决定。
Is A10 Networks Making Efficient Use Of Its Profits?
A10 网络是否在有效利用其利润？
A10 Networks' three-year median payout ratio is a pretty moderate 37%, meaning the company retains 63% of its income. By the looks of it, the dividend is well covered and A10 Networks is reinvesting its profits efficiently as evidenced by its exceptional growth which we discussed above.
A10 Networks的三年派息率中位数为37％，这意味着该公司保留了63％的收入。从表面上看，股息覆盖范围很广，A10 Networks正在有效地对其利润进行再投资，我们上面讨论的其出色增长就证明了这一点。
Along with seeing a growth in earnings, A10 Networks only recently started paying dividends. Its quite possible that the company was looking to impress its shareholders.
除了收益增长外，A10 Networks直到最近才开始派发股息。该公司很可能想给股东留下深刻的印象。
Summary
摘要
On the whole, we feel that A10 Networks' performance has been quite good. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. 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，我们认为A10 Networks的表现相当不错。特别是，很高兴看到该公司正在对其业务进行大量投资，再加上高回报率，这为其收益带来了可观的增长。既然如此，对分析师最新预测的研究表明，预计该公司未来的收益增长将放缓。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。
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