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Murphy Oil Corporation (NYSE:MUR) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?

Murphy Oil Corporation (NYSE:MUR) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?

墨菲石油公司(紐約證券交易所代碼:MUR)股票最近表現疲軟,但財務狀況看起來強勁:潛在股東應該跳躍嗎?
Simply Wall St ·  05/24 03:00

Murphy Oil (NYSE:MUR) has had a rough month with its share price down 8.1%. 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. Particularly, we will be paying attention to Murphy Oil's ROE today.

墨菲石油(紐約證券交易所代碼:MUR)經歷了艱難的一個月,其股價下跌了8.1%。但是,仔細觀察其良好的財務狀況可能會讓你重新考慮。鑑於基本面通常會推動長期市場業績,該公司值得關注。特別是,我們今天將關注墨菲石油的投資回報率。

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 Do You Calculate Return On Equity?

你如何計算股本回報率?

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 Murphy Oil is:

因此,根據上述公式,墨菲石油的投資回報率爲:

11% = US$627m ÷ US$5.5b (Based on the trailing twelve months to March 2024).

11% = 6.27億美元 ÷ 55億美元(基於截至2024年3月的過去十二個月)。

The 'return' is the yearly profit. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.11 in profit.

“回報” 是每年的利潤。將其概念化的一種方法是,公司每擁有1美元的股東資本,就能獲得0.11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?

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 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.

到目前爲止,我們已經了解到,投資回報率衡量的是公司創造利潤的效率。然後,我們能夠評估公司的收益增長潛力,具體取決於公司對這些利潤進行再投資或 “保留” 了多少及其有效性。假設其他條件都一樣,與功能不相同的公司相比,具有更高股本回報率和更高利潤保留率的公司通常具有更高的增長率。

Murphy Oil's Earnings Growth And 11% ROE

墨菲石油的收益增長和11%的投資回報率

At first glance, Murphy Oil seems to have a decent ROE. Yet, the fact that the company's ROE is lower than the industry average of 18% does temper our expectations. Still, we can see that Murphy Oil has seen a remarkable net income growth of 46% over the past five years. Therefore, there could be other causes behind this growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio. However, not to forget, the company does have a decent ROE to begin with, just that it is lower than the industry average. So this certainly also provides some context to the high earnings growth seen by the company.

乍一看,墨菲石油的投資回報率似乎不錯。但是,該公司的投資回報率低於行業平均水平的18%,這一事實確實降低了我們的預期。儘管如此,我們可以看到,墨菲石油在過去五年中淨收入增長了46%。因此,這種增長背後可能還有其他原因。例如,公司的管理層可能做出了一些良好的戰略決策,或者公司的派息率很低。但是,不要忘記,該公司一開始確實有不錯的投資回報率,只是低於行業平均水平。因此,這無疑也爲該公司實現的高收益增長提供了一些背景信息。

We then compared Murphy Oil'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 38% in the same 5-year period.

然後,我們將墨菲石油的淨收入增長與該行業進行了比較,我們很高興地看到,與該行業相比,該公司的增長數字更高,該行業在同期的5年增長率爲38%。

past-earnings-growth
NYSE:MUR Past Earnings Growth May 23rd 2024
紐約證券交易所:MUR 過去的收益增長 2024 年 5 月 23 日

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. Has the market priced in the future outlook for MUR? You can find out in our latest intrinsic value infographic research report.

爲公司附加價值的基礎在很大程度上與其收益增長息息相關。無論如何,投資者應設法確定預期的收益增長或下降是否已計入其中。通過這樣做,他們將知道股票是走向清澈的藍色海水還是沼澤水域在等着呢。市場是否對MUR的未來展望進行了定價?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 Murphy Oil Efficiently Re-investing Its Profits?

墨菲石油是否有效地將其利潤再投資?

Murphy Oil has a really low three-year median payout ratio of 13%, meaning that it has the remaining 87% left over to reinvest into its business. So it seems like the management is reinvesting profits heavily to grow its business and this reflects in its earnings growth number.

墨菲石油的三年派息率中位數非常低,爲13%,這意味着其餘的87%可以再投資於其業務。因此,管理層似乎正在將利潤大量再投資以發展業務,這反映在其收益增長數字上。

Moreover, Murphy Oil is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 26% over the next three years. Despite the higher expected payout ratio, the company's ROE is not expected to change by much.

此外,墨菲石油決心繼續與股東分享利潤,這是我們從其支付股息至少十年的悠久歷史中推斷出來的。我們最新的分析師數據顯示,該公司的未來派息率預計將在未來三年內升至26%。儘管預期派息率更高,但該公司的投資回報率預計不會有太大變化。

Summary

摘要

Overall, we are quite pleased with Murphy Oil's performance. Specifically, we like that it has been reinvesting a high portion of its profits at a moderate rate of return, resulting in earnings expansion. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.

總體而言,我們對墨菲石油的表現非常滿意。具體而言,我們喜歡它一直在以適度的回報率再投資其很大一部分利潤,從而實現了收益的擴張。話雖如此,正如分析師目前的估計所預測的那樣,該公司的收益增長預計將放緩。要了解有關公司未來收益增長預測的更多信息,請查看這份關於分析師預測的免費報告,以了解更多信息。

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.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
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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