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Are Robust Financials Driving The Recent Rally In Howmet Aerospace Inc.'s (NYSE:HWM) Stock?

Are Robust Financials Driving The Recent Rally In Howmet Aerospace Inc.'s (NYSE:HWM) Stock?

強勁的財務狀況是否推動了Howmet Aerospace Inc.最近的漲勢?”s(紐約證券交易所代碼:HWM)股票?
Simply Wall St ·  05/24 00:26

Howmet Aerospace (NYSE:HWM) has had a great run on the share market with its stock up by a significant 33% over the last month. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Particularly, we will be paying attention to Howmet Aerospace's ROE today.

Howmet Aerospace(紐約證券交易所代碼:HWM)在股票市場上表現良好,其股票在上個月大幅上漲了33%。鑑於從長遠來看,市場會獎勵強勁的財務狀況,我們想知道在這種情況下是否如此。特別是,我們今天將關注豪邁特航空航天公司的投資回報率。

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Put another way, it reveals the company's success at turning shareholder investments into profits.

股本回報率或投資回報率是對公司增值和管理投資者資金的有效性的考驗。換句話說,它揭示了公司成功地將股東投資轉化爲利潤。

How Is ROE Calculated?

ROE 是如何計算的?

The formula for ROE is:

ROE 的公式是:

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

股本回報率 = 淨利潤(來自持續經營業務)÷ 股東權益

So, based on the above formula, the ROE for Howmet Aerospace is:

因此,根據上述公式,Howmet Aerospace的投資回報率爲:

21% = US$860m ÷ US$4.1b (Based on the trailing twelve months to March 2024).

21% = 8.6億美元 ÷ 41億美元(基於截至2024年3月的過去十二個月)。

The 'return' is the amount earned after tax over the last twelve months. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.21.

“回報” 是過去十二個月的稅後收入。因此,這意味着公司每投資1美元,就會產生0.21美元的利潤。

What Is The Relationship Between ROE And Earnings Growth?

投資回報率與收益增長之間有什麼關係?

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. 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,投資回報率是衡量公司盈利能力的指標。根據公司選擇將多少利潤進行再投資或 “保留”,我們便能夠評估公司未來創造利潤的能力。假設其他一切保持不變,那麼與不一定具有這些特徵的公司相比,投資回報率和利潤保留率越高,公司的增長率就越高。

Howmet Aerospace's Earnings Growth And 21% ROE

Howmet Aerospace的收益增長和21%的投資回報率

To start with, Howmet Aerospace's ROE looks acceptable. On comparing with the average industry ROE of 14% the company's ROE looks pretty remarkable. This certainly adds some context to Howmet Aerospace's exceptional 24% net income growth seen over the past five years. We reckon that there could also be other factors at play here. Such as - high earnings retention or an efficient management in place.

首先,Howmet Aerospace的投資回報率似乎是可以接受的。與行業平均投資回報率爲14%相比,該公司的投資回報率看起來相當可觀。這無疑爲Howmet Aerospace在過去五年中驚人的24%淨收入增長增添了一些背景信息。我們認爲,這裏可能還有其他因素在起作用。例如——高收益留存率或實行高效管理。

Next, on comparing with the industry net income growth, we found that Howmet Aerospace's growth is quite high when compared to the industry average growth of 6.6% in the same period, which is great to see.

接下來,與行業淨收入增長相比,我們發現,與同期行業平均增長6.6%相比,Howmet Aerospace的增長相當高,這真是太好了。

past-earnings-growth
NYSE:HWM Past Earnings Growth May 23rd 2024
紐約證券交易所:HWM過去的收益增長 2024年5月23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). Doing so will help them establish if the stock's future looks promising or ominous. Has the market priced in the future outlook for HWM? You can find out in our latest intrinsic value infographic research report.

收益增長是股票估值的重要因素。對於投資者來說,重要的是要知道市場是否對公司的預期收益增長(或下降)進行了定價。這樣做將幫助他們確定股票的未來是樂觀還是不祥的。HWM 的未來展望中是否已爲市場定價?你可以在我們最新的內在價值信息圖研究報告中找到答案。

Is Howmet Aerospace Efficiently Re-investing Its Profits?

Howmet Aerospace 是否有效地將其利潤再投資?

Howmet Aerospace's three-year median payout ratio to shareholders is 8.6%, which is quite low. This implies that the company is retaining 91% of its profits. So it looks like Howmet Aerospace is reinvesting profits heavily to grow its business, which shows in its earnings growth.

Howmet Aerospace的三年股東派息率中位數爲8.6%,相當低。這意味着該公司保留了91%的利潤。因此,看來Howmet Aerospace正在大量再投資利潤以發展其業務,這體現在其收益增長上。

Moreover, Howmet Aerospace is determined to keep sharing its profits with shareholders which we infer from its long history of seven years of paying a dividend. Our latest analyst data shows that the future payout ratio of the company over the next three years is expected to be approximately 7.9%. Regardless, the future ROE for Howmet Aerospace is predicted to rise to 26% despite there being not much change expected in its payout ratio.

此外,Howmet Aerospace決心繼續與股東分享利潤,這是我們從其七年支付股息的長期歷史中推斷出來的。我們的最新分析師數據顯示,公司未來三年的派息率預計約爲7.9%。無論如何,儘管預計Howmet Aerospace的派息率沒有太大變化,但其未來的投資回報率預計將升至26%。

Summary

摘要

Overall, we are quite pleased with Howmet Aerospace's performance. 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. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

總的來說,我們對Howmet Aerospace的表現非常滿意。特別是,我們喜歡該公司對其業務進行大量再投資,而且回報率很高。毫不奇怪,這帶來了令人印象深刻的收益增長。既然如此,對分析師最新預測的研究表明,預計該公司未來的收益增長將放緩。要詳細了解分析師對公司的最新預測,請查看該公司的分析師預測的可視化。

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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的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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