Is Oceaneering International, Inc.'s (NYSE:OII) Recent Performance Tethered To Its Attractive Financial Prospects?
Is Oceaneering International, Inc.'s (NYSE:OII) Recent Performance Tethered To Its Attractive Financial Prospects?
Oceaneering International's (NYSE:OII) stock is up by 9.2% over the past three months. Since the market usually pay for a company's long-term financial health, we decided to study the company's fundamentals to see if they could be influencing the market. Particularly, we will be paying attention to Oceaneering International's ROE today.
Oceaneering International（纽约证券交易所代码：OII）的股票在过去三个月中上涨了9.2％。由于市场通常为公司的长期财务状况买单，因此我们决定研究公司的基本面，看看它们是否会影响市场。特别是，我们今天将关注国际海洋工程的投资回报率。
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。
How Do You Calculate Return On Equity?
你如何计算股本回报率？
The formula for ROE is:
ROE 的公式是：
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 Oceaneering International is:
因此，根据上述公式，国际海洋工程的投资回报率为：
15% = US$97m ÷ US$634m (Based on the trailing twelve months to December 2023).
15% = 9700万美元 ÷ 6.34亿美元（基于截至2023年12月的过去十二个月）。
The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.15 in profit.
“回报” 是过去十二个月的利润。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，就能获得0.15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. 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，投资回报率是衡量公司盈利能力的指标。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 Oceaneering International's Earnings Growth And 15% ROE
Oceaneering International的收益增长和15％的投资回报率的并排比较
At first glance, Oceaneering International seems to have a decent ROE. Even when compared to the industry average of 16% the company's ROE looks quite decent. Consequently, this likely laid the ground for the impressive net income growth of 48% seen over the past five years by Oceaneering International. However, there could also be other drivers behind this growth. Such as - high earnings retention or an efficient management in place.
乍一看，Oceaneering International的投资回报率似乎不错。即使与行业平均水平的16％相比，该公司的投资回报率也相当不错。因此，这可能为国际海洋工程组织在过去五年中实现48％的惊人净收入增长奠定了基础。但是，这种增长背后可能还有其他驱动力。例如——高收益留存率或实行高效管理。
As a next step, we compared Oceaneering International's 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 35%.
下一步，我们将Oceaneering International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35％的行业平均增长。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. What is OII worth today? The intrinsic value infographic in our free research report helps visualize whether OII is currently mispriced by the market.
为公司附加价值的基础在很大程度上与其收益增长息息相关。无论情况如何，投资者都应设法确定预期的收益增长或下降是否已计入其中。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。OII 今天值多少钱？我们免费研究报告中的内在价值信息图有助于可视化OII目前是否被市场错误定价。
Is Oceaneering International Making Efficient Use Of Its Profits?
Oceaneering International是否在有效利用其利润？
Oceaneering International doesn't pay any regular dividends to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
Oceaneering International不定期向其股东支付任何股息，这意味着该公司一直在将所有利润再投资于该业务。这可能是推动上述高收益增长数字的原因。
Conclusion
结论
In total, we are pretty happy with Oceaneering International'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. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. 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.
总的来说，我们对国际海洋工程的表现非常满意。具体而言，我们喜欢该公司以高回报率再投资其利润的很大一部分。当然，这导致该公司的收益大幅增长。话虽如此，最新的行业分析师预测显示，该公司的收益增长预计将放缓。这些分析师的预期是基于对该行业的广泛预期，还是基于公司的基本面？点击此处进入我们分析师对公司的预测页面。
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