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Molina Healthcare, Inc.'s (NYSE:MOH) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?

Molina Healthcare, Inc.'s (NYSE:MOH) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?

Molina Healthcare, Inc.(紐交所:MOH)的基本面看起來相當強勁:市場可能對這隻股票的看法錯誤嗎?
Simply Wall St ·  12/16 19:29

It is hard to get excited after looking at Molina Healthcare's (NYSE:MOH) recent performance, when its stock has declined 14% over the past three months. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Specifically, we decided to study Molina Healthcare's ROE in this article.

在看到Molina Healthcare(紐交所:MOH)最近的表現後,很難讓人感到興奮,因爲其股票在過去三個月中下跌了14%。然而,仔細研究其穩健的財務狀況可能會讓你重新考慮。考慮到基本面通常驅動長期市場走勢,這家公司值得關注。具體而言,我們決定在本文中研究Molina Healthcare的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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

淨資產回報率或ROE是評估公司管理層如何有效利用公司資本的關鍵指標。簡單來說,它用於評估公司相對於其股本的盈利能力。

How To Calculate Return On Equity?

如何計算股東權益回報率?

The formula for return on equity is:

股東權益回報率的公式是:

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

股東權益回報率 = 淨利潤(來自持續運營)÷ 股東權益

So, based on the above formula, the ROE for Molina Healthcare is:

因此,根據上述公式,Molina Healthcare的ROE爲:

24% = US$1.1b ÷ US$4.8b (Based on the trailing twelve months to September 2024).

24% = 1100000000美元 ÷ 4800000000美元(基於截至2024年9月的12個月數據)。

The 'return' refers to a company's earnings over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.24.

「回報」是指公司過去一年的收益。因此,這意味着每投資1美元,公司的股東可產生0.24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?

We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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 all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.

我們已經確定,ROE是公司未來收益的一種有效利潤生成指標。現在,我們需要評估公司 reinvests 或 "保留" 多少利潤以實現未來增長,這將給我們一個關於公司增長潛力的概念。在其他條件相同的情況下,擁有更高淨資產收益率和更高利潤保留的公司通常與沒有相同特徵的公司相比,具有更高的增長率。

Molina Healthcare's Earnings Growth And 24% ROE

Molina Healthcare的盈利增長和24%的ROE

To begin with, Molina Healthcare has a pretty high ROE which is interesting. Second, a comparison with the average ROE reported by the industry of 13% also doesn't go unnoticed by us. Probably as a result of this, Molina Healthcare was able to see a decent net income growth of 9.6% over the last five years.

首先,Molina Healthcare的ROE相當高,這很有趣。其次,與行業平均ROE 13%的比較也引起了我們的注意。可能正因如此,Molina Healthcare在過去五年裏實現了9.6%的淨利潤增長。

We then compared Molina Healthcare'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 6.3% in the same 5-year period.

我們將Molina Healthcare的淨利潤增長與行業進行了比較,欣喜地發現,公司的增長數字高於行業,其在同樣的五年期間增長率爲6.3%。

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NYSE:MOH Past Earnings Growth December 16th 2024
紐交所:MOH 過去的盈利增長 2024年12月16日

Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). 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 Molina Healthcare 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重要因素。投資者需要了解市場是否已考慮到公司的預期盈利增長(或下降)。這有助於他們判斷股票是處於光明還是暗淡的未來。一個良好的預期盈利增長指標是市盈率,它決定了市場願意爲股票支付的價格,基於其盈利前景。因此,您可能想要檢查Molina Healthcare相對於其行業是在高市盈率還是低市盈率交易。

Is Molina Healthcare Making Efficient Use Of Its Profits?

Molina Healthcare是否有效利用了其利潤?

Molina Healthcare doesn't pay any regular dividends, meaning that all of its profits are being reinvested in the business, which explains the fair bit of earnings growth the company has seen.

Molina Healthcare不支付任何常規分紅,這意味着它的所有利潤都被重新投資於業務,這解釋了公司所看到的相當可觀的盈利增長。

Summary

總結

On the whole, we feel that Molina Healthcare's performance has been quite good. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

總體而言,我們認爲Molina Healthcare的表現相當不錯。特別是,我們喜歡公司在其業務中重投資,並且回報率很高。當然,這導致了令人印象深刻的盈利增長。值得注意的是,最新的行業分析師預測顯示,公司盈利預計將加速增長。要了解更多有關公司的最新分析師預測,請查看此公司分析師預測的可視化圖。

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.

對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall St的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。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在提到的任何股票中均沒有持倉。

譯文內容由第三人軟體翻譯。


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