Is Arthur J. Gallagher & Co.'s (NYSE:AJG) Recent Stock Performance Influenced By Its Financials In Any Way?
Is Arthur J. Gallagher & Co.'s (NYSE:AJG) Recent Stock Performance Influenced By Its Financials In Any Way?
Arthur J. Gallagher's (NYSE:AJG) stock up by 7.7% over the past three months. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. In this article, we decided to focus on Arthur J. Gallagher's ROE.
過去三個月中，Arthur J. Gallagher（紐交所：AJG）股價上漲了7.7%。我們想知道該公司的財務狀況對股價變動有何影響，因爲一家公司的長期基本面通常決定市場結果。在本文中，我們決定着重介紹Arthur J. Gallagher的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股東權益回報率（ROE）是檢驗公司增加其價值和管理投資者資金有效性的測試。簡而言之，ROE顯示每個美元的利潤與其股東的投資有關。
How Do You Calculate Return On Equity?
怎樣計算ROE?
ROE can be calculated by using the formula:
淨資產收益率可以使用以下公式進行計算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤（從持續經營中獲得）÷ 股東權益
So, based on the above formula, the ROE for Arthur J. Gallagher is:
因此，基於上述公式，Arthur J. Gallagher的roe爲：
9.6% = US$1.1b ÷ US$11b (Based on the trailing twelve months to March 2024).
9.6% = 11億美元 ÷ 110億美元（基於截至2024年3月的過去十二個月）。
The 'return' is the income the business earned over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.10.
‘回報’是企業過去一年賺取的收入。這意味着，對於其股東投資的每1美元，公司可以賺取10美分的利潤。
Why Is ROE Important For Earnings Growth?
ROE對於盈利增長的重要性是什麼？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. 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.
到目前爲止，我們已經了解了ROE衡量公司產生利潤的效率。現在，我們需要評估公司爲未來增長“留存”的利潤或“保留”多少，這就讓我們對公司的增長潛力有了一個想法。一般來說，其他條件相同的情況下，ROE和利潤保留較高的公司比沒有這些屬性的公司具有更高的增長率。
Arthur J. Gallagher's Earnings Growth And 9.6% ROE
Arthur J. Gallagher的盈利增長和9.6%的roe。
When you first look at it, Arthur J. Gallagher's ROE doesn't look that attractive. We then compared the company's ROE to the broader industry and were disappointed to see that the ROE is lower than the industry average of 13%. However, the moderate 12% net income growth seen by Arthur J. Gallagher over the past five years is definitely a positive. So, there might be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.
當您首次查看Arthur J. Gallagher的roe時，看起來並不那麼有吸引力。然後，我們將公司的roe與更廣泛的行業相比較，失望地發現roe低於13%的行業平均水平。然而，Arthur J. Gallagher過去五年實現了適度的12%淨利潤增長，這無疑是一個積極因素。因此，可能存在其他積極影響企業盈利增長的方面，例如低的派息比率或高效的管理。
We then compared Arthur J. Gallagher'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 8.4% in the same 5-year period.
然後，我們將Arthur J. Gallagher的淨收入增長與行業進行了比較，我們很高興看到公司的增長率在同一個5年期內比行業高，後者的增長率爲8.4%。
Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. Is AJG fairly valued? This infographic on the company's intrinsic value has everything you need to know.
盈利增長是估值一隻股票時應考慮的重要指標。投資者應嘗試確定預期的盈利增長或下降（根據情況而定）是否得到了定價。這樣做將幫助他們確定股票的前景是光明還是黯淡。AJG是否被公正地估值？本公司固有價值圖示將爲您提供所需的所有信息。
Is Arthur J. Gallagher Using Its Retained Earnings Effectively?
Arthur J. Gallagher是否有效地利用其留存收益？
Arthur J. Gallagher has a three-year median payout ratio of 41%, which implies that it retains the remaining 59% of its profits. This suggests that its dividend is well covered, and given the decent growth seen by the company, it looks like management is reinvesting its earnings efficiently.
Arthur J. Gallagher的三年中間派息比率爲41%，這意味着它保留了其利潤的其餘59%。這表明其股息得到妥善覆蓋，並且鑑於公司實現的不錯增長，看起來管理層正在有效地再投資其收益。
Additionally, Arthur J. Gallagher has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 21% over the next three years. The fact that the company's ROE is expected to rise to 23% over the same period is explained by the drop in the payout ratio.
此外，Arthur J. Gallagher在至少十年的時間內支付了股息，這意味着公司非常認真地與股東分享其利潤。在研究最新的分析師共識數據時，我們發現該公司未來的派息比率預計將在未來三年內下降到21%。公司的roe預計在同期間將升至23%，這可以解釋派息比率下降的原因。
Summary
總的來說，我們對偉明環保的表現非常滿意。具體而言，我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然，這導致公司的收益大幅增長。但是，最新的行業分析師預測表明，該公司的收益預計將加速增長。
In total, it does look like Arthur J. Gallagher has some positive aspects to its business. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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.
總的來看，Arthur J. Gallagher在業務方面有一些積極因素。雖然roe不高，但高的再投資率使公司的盈利得到了相當大的增長。話雖如此，查看當前的分析師預測後，我們發現該公司的盈利有望提速。這些分析師的預測是基於行業的全面期望，還是基於公司的基本面？單擊此處進入我們的分析師預測頁面。
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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.
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者，發送電子郵件至editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。
譯文內容由第三人軟體翻譯。