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Is ShockWave Medical, Inc.'s (NASDAQ:SWAV) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
Is ShockWave Medical, Inc.'s (NASDAQ:SWAV) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
ShockWave Medical (NASDAQ:SWAV) has had a great run on the share market with its stock up by a significant 28% over the last 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 ShockWave Medical's ROE.
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
See our latest analysis for ShockWave Medical
How Is ROE Calculated?
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 ShockWave Medical is:
18% = US$55m ÷ US$305m (Based on the trailing twelve months to June 2022).
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 $0.18 in profit.
What Has ROE Got To Do With Earnings Growth?
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.
ShockWave Medical's Earnings Growth And 18% ROE
To begin with, ShockWave Medical seems to have a respectable ROE. Further, the company's ROE compares quite favorably to the industry average of 11%. Probably as a result of this, ShockWave Medical was able to see an impressive net income growth of 26% over the last five years. However, there could also be other causes behind this growth. For instance, the company has a low payout ratio or is being managed efficiently.
We then compared ShockWave Medical'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 19% in the same period.
NasdaqGS:SWAV Past Earnings Growth September 25th 2022Earnings 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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is ShockWave Medical fairly valued compared to other companies? These 3 valuation measures might help you decide.
Is ShockWave Medical Using Its Retained Earnings Effectively?
Given that ShockWave Medical doesn't pay any dividend to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
Summary
In total, we are pretty happy with ShockWave Medical's performance. 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. We also studied the latest analyst forecasts and found that the company's earnings growth is expected be similar to its current growth rate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts 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.
衝擊波醫療公司(納斯達克代碼:SWAV)在股票市場上表現出色,其股票在過去三個月中大幅上漲了28%。鑑於該公司令人印象深刻的業績,我們決定更仔細地研究其財務指標,因為公司的長期財務健康狀況通常決定着市場結果。在本文中,我們決定將重點放在Shockwave Medical的ROE上。
股本回報率(ROE)是對一家公司增值和管理投資者資金的效率的測試。簡而言之,它衡量的是一家公司相對於股東權益的盈利能力。
查看我們對Shockwave Medical的最新分析
淨資產收益率是如何計算的?
股本回報率可使用以下公式計算:
股本回報率=(持續經營的)淨利潤?股東權益
因此,根據上述公式,Shockwave Medical的ROE為:
18%=5500萬美元?3.05億美元(基於截至2022年6月的12個月)。
“回報”指的是企業在過去一年中獲得的收入。一種將其概念化的方法是,公司每擁有1美元的股東資本,就能獲得0.18美元的利潤。
淨資產收益率與盈利增長有什麼關係?
到目前為止,我們已經瞭解到淨資產收益率衡量的是一家公司創造利潤的效率。根據公司選擇再投資或“保留”多少利潤,我們就能夠評估一家公司未來產生利潤的能力。一般來説,在其他條件相同的情況下,股本回報率和利潤留存較高的公司比不具備這些特徵的公司有更高的增長率。
衝擊波醫療的盈利增長和18%的淨資產收益率
首先,Shockwave Medical似乎擁有令人尊敬的淨資產回報率。此外,該公司的淨資產收益率(ROE)與行業平均水平11%相比相當有利。可能正因為如此,Shockwave Medical在過去五年中能夠看到令人印象深刻的26%的淨收入增長。然而,這種增長背後也可能有其他原因。例如,該公司的派息率較低或管理效率較高。
然後,我們將Shockwave Medical的淨收入增長與行業進行了比較,我們很高興地看到,與同期19%的行業增長率相比,該公司的增長數字更高。
NasdaqGS:SWAV過去的收益增長2022年9月25日盈利增長是股票估值的一個重要因素。投資者應該嘗試確定預期的收益增長或下降是否已計入價格,無論是哪種情況。通過這樣做,他們將知道股票是將進入清澈的藍色水域,還是等待沼澤水域。與其他公司相比,Shockwave Medical的估值公平嗎?這3個估值指標可能會幫助你做出決定。
衝擊波醫療是否有效地利用了其留存收益?
鑑於Shockwave Medical不向股東支付任何股息,我們推斷該公司一直在將所有利潤再投資於增長業務。
摘要
總體而言,我們對Shockwave Medical的表現相當滿意。具體地説,我們喜歡該公司將一大筆利潤以高回報率進行再投資。當然,這導致該公司的收益出現了大幅增長。我們還研究了最新的分析師預測,發現該公司的收益增長預計將與目前的增長速度相似。要了解更多分析師對該公司的最新預測,請查看分析師對該公司預測的可視化。
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.,Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc和Moomoo Securities Malaysia Sdn. Bhd., 是關聯公司。
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