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Is Cohu, Inc.'s (NASDAQ:COHU) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
Is Cohu, Inc.'s (NASDAQ:COHU) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
Cohu (NASDAQ:COHU) has had a great run on the share market with its stock up by a significant 30% over the last three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. In this article, we decided to focus on Cohu's ROE.
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.
Check out our latest analysis for Cohu
How To Calculate Return On Equity?
The formula for ROE is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Cohu is:
11% = US$96m ÷ US$882m (Based on the trailing twelve months to September 2022).
The 'return' is the profit over the last twelve months. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.11.
Why Is ROE Important For Earnings Growth?
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.
Cohu's Earnings Growth And 11% ROE
To begin with, Cohu seems to have a respectable ROE. Be that as it may, the company's ROE is still quite lower than the industry average of 19%. However, we are pleased to see the impressive 39% net income growth reported by Cohu over the past five years. Therefore, there could be other causes behind this 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. However, not to forget, the company does have a decent ROE to begin with, just that it is lower than the industry average. So this certainly also provides some context to the high earnings growth seen by the company.
We then compared Cohu'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 29% in the same period.
Earnings 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. This then helps them determine if the stock is placed for a bright or bleak future. What is COHU worth today? The intrinsic value infographic in our free research report helps visualize whether COHU is currently mispriced by the market.
Is Cohu Making Efficient Use Of Its Profits?
Given that Cohu 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
On the whole, we feel that Cohu's performance has been quite good. Particularly, we like that the company is reinvesting heavily into its business at a moderate rate of return. Unsurprisingly, this has led to an impressive earnings growth. With that said, on studying the latest analyst forecasts, we found that while the company has seen growth in its past earnings, analysts expect its future earnings to shrink. 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.
Cohu(納斯達克代碼:COHU)在股票市場上表現出色,其股票在過去三個月裡大幅上漲了30%。由於市場通常為公司的長期基本面買單,我們決定研究公司的關鍵業績指標,看看它們是否會影響市場。在本文中,我們決定關注Cohu的ROE。
股本回報率(ROE)是用來評估公司管理層利用公司資本效率的關鍵指標。換句話說,它揭示了該公司成功地將股東投資轉化為利潤。
查看我們對Cohu的最新分析
如何計算股本回報率?
這個淨資產收益率公式是:
股本回報率=(持續經營的)淨利潤?股東權益
因此,根據上面的公式,Cohu的ROE為:
11%=9600萬美元×8.82億美元(基於截至2022年9月的12個月的往績)。
“收益”是過去12個月的利潤。因此,這意味著股東每投資1美元,公司就會產生0.11美元的利潤。
為什麼淨資產收益率對收益增長很重要?
到目前為止,我們瞭解到淨資產收益率是衡量一家公司盈利能力的指標。我們現在需要評估公司將多少利潤再投資或“保留”用於未來的增長,這就讓我們對公司的增長潛力有了一個瞭解。假設其他條件不變,淨資產收益率和利潤保留率越高,與不一定具有這些特徵的公司相比,公司的增長率就越高。
Cohu的收益增長和11%的淨資產收益率
首先,Cohu似乎擁有令人尊敬的淨資產收益率。儘管如此,該公司的淨資產收益率仍遠低於19%的行業平均水準。然而,我們很高興看到Cohu在過去五年中報告了令人印象深刻的39%的淨收入增長。因此,這種增長背後可能還有其他原因。例如,公司管理層可能做出了一些良好的戰略決策,或者公司的派息率較低。然而,不要忘記,該公司一開始確實有不錯的淨資產收益率,只是低於行業平均水準。因此,這當然也為該公司的高收益增長提供了一些背景。
然後,我們將Cohu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29%的行業增長率相比,該公司的增長數位更高。
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。這有助於他們確定這只股票是為光明還是黯淡的未來做準備。今天Cohu的價值是多少?我們免費研究報告中的內在價值資訊圖有助於直觀地瞭解Cohu目前是否被市場錯誤定價。
Cohu是否有效地利用了其利潤?
鑑於Cohu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
總體來說,我們覺得Cohu的表現相當不錯。特別是,我們喜歡該公司以適度的回報率對其業務進行大量再投資。不出所料,這導致了令人印象深刻的收益增長。話雖如此,在研究最新的分析師預測時,我們發現,儘管該公司過去的收益有所增長,但分析師預計其未來收益將縮水。這些分析師的預期是基於對該行業的廣泛預期,還是基於該公司的基本面?點擊此處進入我們分析師對該公司的預測頁面。
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 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。
風險及免責聲明
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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