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Has Primoris Services Corporation's (NYSE:PRIM) Impressive Stock Performance Got Anything to Do With Its Fundamentals?

Has Primoris Services Corporation's (NYSE:PRIM) Impressive Stock Performance Got Anything to Do With Its Fundamentals?

Primoris Services Corporation(紐交所:PRIM)出色的股票表現與其基本面有什麼關係?
Simply Wall St ·  12/08 22:51

Primoris Services' (NYSE:PRIM) stock is up by a considerable 70% over the past three months. As most would know, fundamentals are what usually guide market price movements over the long-term, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. Particularly, we will be paying attention to Primoris Services' ROE today.

primoris services(紐交所:PRIM)的股票在過去三個月上漲了70%。正如大多數人所知,基本面通常是在長期內指導市場價格波動的因素,因此我們決定今天查看公司的主要財務指標,以判斷它們在最近的價格波動中是否起作用。特別是,我們今天將關注primoris services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?

如何計算淨資產收益率?

Return on equity can be calculated by using the formula:

股東權益報酬率可以使用以下公式計算:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

淨資產收益率 = 淨利潤(來自持續經營) ÷ 股東權益

So, based on the above formula, the ROE for Primoris Services is:

因此,根據上述公式,Primoris Services的ROE爲:

12% = US$165m ÷ US$1.4b (Based on the trailing twelve months to September 2024).

12% = 16500萬美元 ÷ 14億(基於截至2024年9月的過去十二個月)。

The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.12.

「回報」是年利潤。這意味着,公司每投資股東的1美元,就能產生0.12美元的利潤。

Why Is ROE Important For Earnings Growth?

ROE爲什麼對淨利潤增長很重要?

Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. 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.

到目前爲止,我們已經了解到roe衡量公司生成利潤的效率。根據公司再投資或「保留」的利潤比例及其有效性,我們能夠評估公司的收益增長潛力。在其他一切保持不變的情況下,roe和利潤保留率越高,公司的增長率就越高,相比於那些不一定擁有這些特性的公司。

Primoris Services' Earnings Growth And 12% ROE

primoris services的盈利增長和12%的roe

To begin with, Primoris Services seems to have a respectable ROE. Even so, when compared with the average industry ROE of 16%, we aren't very excited. However, the moderate 12% net income growth seen by Primoris Services over the past five years is definitely a positive. So, there might be other aspects that are positively influencing earnings growth. Such as - high earnings retention or an efficient management in place. Bear in mind, the company does have a respectable level of ROE. It is just that the industry ROE is higher. So this also provides some context to the earnings growth seen by the company.

首先,primoris services似乎擁有不錯的roe。儘管如此,與行業平均roe 16%相比,我們並不感到特別興奮。然而,primoris services在過去五年中淨利潤增長12%絕對是個好消息。所以,可能還有其他方面積極影響着盈利增長。例如,良好的收益留存或高效的管理。請記住,公司確實擁有一個不錯的roe,只是行業roe更高。因此,這也爲公司所看到的盈利增長提供了一些背景。

Next, on comparing with the industry net income growth, we found that Primoris Services' reported growth was lower than the industry growth of 16% over the last few years, which is not something we like to see.

接下來,在與行業淨利潤增長進行比較時,我們發現primoris services報告的增長低於過去幾年行業增長16%,這是我們不喜歡看到的。

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NYSE:PRIM Past Earnings Growth December 8th 2024
紐交所:PRIm 過去的盈利增長 2024年12月8日

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. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Primoris Services is trading on a high P/E or a low P/E, relative to its industry.

盈利增長是股票估值的一個重要因素。投資者應試圖確定預期的盈利增長或下降,無論是哪種情況,是否已被市場定價。這將幫助他們判斷股票在未來是光明還是黯淡。預期盈利增長的一個良好指標是市盈率(P/E),它確定市場願意爲股票支付的價格,基於其盈利前景。因此,您可能想檢查一下primoris services是以高市盈率還是低市盈率在與其行業相比交易。

Is Primoris Services Using Its Retained Earnings Effectively?

primoris services是否有效利用其留存收益?

Primoris Services has a low three-year median payout ratio of 10%, meaning that the company retains the remaining 90% of its profits. This suggests that the management is reinvesting most of the profits to grow the business.

primoris services的三年中位派息比率僅爲10%,這意味着公司保留了90%的利潤。這表明管理層正在將大部分利潤再投資以推動業務增長。

Besides, Primoris Services has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Our latest analyst data shows that the future payout ratio of the company is expected to drop to 6.3% over the next three years. Accordingly, the expected drop in the payout ratio explains the expected increase in the company's ROE to 15%, over the same period.

此外,primoris services至少已支付分紅十年以上。這表明公司致力於與其股東分享利潤。我們最新的分析師數據顯示,預計未來三年公司的派息比率將降至6.3%。因此,派息比率的預期下降解釋了公司roe在同一時期內預計將增加至15%.

Summary

總結

In total, it does look like Primoris Services has some positive aspects to its business. Particularly, its earnings have grown respectably as we saw earlier, which was likely achieved due to the company reinvesting most of its earnings at a decent rate of return, to grow its business. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. 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.

總體來看,primoris services的業務似乎有一些積極的方面。 特別是,正如我們之前所看到的,它的收益相對可觀地增長,這可能是由於公司以合理的回報率將大部分收益進行再投資,以發展其業務。 話雖如此,最新的行業分析師預測顯示,該公司的收益預計將加速增長。 這些分析師的預期是基於對整個行業的廣泛預期,還是基於公司的基本面?點擊這裏查看我們分析師對該公司的預測頁面。

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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.

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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。

譯文內容由第三人軟體翻譯。


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