Is Amphenol Corporation's (NYSE:APH) Latest Stock Performance A Reflection Of Its Financial Health?
Is Amphenol Corporation's (NYSE:APH) Latest Stock Performance A Reflection Of Its Financial Health?
Most readers would already be aware that Amphenol's (NYSE:APH) stock increased significantly by 19% over the past three months. 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 Amphenol's ROE today.
大多數讀者應該已經知道，Amphenol（紐交所：APH）的股票在過去三個月內大幅上漲了19％。鑑於市場長期回報強勁的財務表現，我們想知道這是否在這種情況下也是如此。特別地，今天我們會關注Amphenol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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股東權益回報率（roe）是一種關鍵指標，用於評估公司管理層如何有效利用公司資本。更簡單地說，它衡量了公司相對股東權益的盈利能力。
How To Calculate Return On Equity?
如何計算股東權益報酬率？
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 Amphenol is:
因此，根據上面的公式，Amphenol的roe爲:
23% = US$2.1b ÷ US$8.8b (Based on the trailing twelve months to March 2024).
23％= US $2.1b ÷ US $8.8b（基於從2024年3月開始的過去十二個月）。
The 'return' is the income the business earned over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.23 in profit.
“回報”是企業在過去一年中獲得的收入。這意味着，對於每個價值1美元的股東權益，公司產生了0.23美元的利潤。
Why Is ROE Important For Earnings Growth?
ROE對於盈利增長的重要性是什麼？
So far, we've learned that ROE is a measure of a company's profitability. 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，我們已經了解了roe是公司盈利能力的一種衡量標準。根據公司重新投資或“保留”的利潤數量和效率，我們可以評估公司的盈利增長潛力。假設其他所有因素保持不變，roe和保留的利潤越高，相對於不一定具有這些特徵的公司，公司的增長率就越高。
A Side By Side comparison of Amphenol's Earnings Growth And 23% ROE
Amphenol盈利增長和23％的roe的並列比較
First thing first, we like that Amphenol has an impressive ROE. Second, a comparison with the average ROE reported by the industry of 9.6% also doesn't go unnoticed by us. This probably laid the groundwork for Amphenol's moderate 14% net income growth seen over the past five years.
首先，我們喜歡Amphenol有一個令人印象深刻的roe。其次，行業平均roe報告的9.6％與我們也不相上下。這可能爲過去五年中Amphenol的適度淨利潤增長14％奠定了基礎。
As a next step, we compared Amphenol's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 15% in the same period.
作爲下一步，我們比較了Amphenol的淨利潤增長和行業的增長，並發現在同一時期，公司的增長率與行業平均增長率15％相當。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. Is Amphenol fairly valued compared to other companies? These 3 valuation measures might help you decide.
確定公司的價值的基礎在很大程度上與其收益增長有關。投資者知道市場是否已經定價了公司預期的收益增長（或下降）很重要。然後，這可以幫助他們確定股票未來走勢是否光明或暗淡。與其他公司相比，Amphenol是否定價合理？這3個估值指標也許能幫助你做出決定。
Is Amphenol Efficiently Re-investing Its Profits?
Amphenol是否有效地再投資其利潤？
Amphenol has a healthy combination of a moderate three-year median payout ratio of 25% (or a retention ratio of 75%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.
Amphenol在利潤中有一個適度的三年中位數支付比率爲25％（或保留比率爲75％）和可觀的盈利增長，就像我們上面看到的那樣，這意味着公司一直在有效利用其利潤。
Additionally, Amphenol 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 is expected to keep paying out approximately 24% of its profits over the next three years. Therefore, the company's future ROE is also not expected to change by much with analysts predicting an ROE of 21%.
此外，Amphenol至少在過去十年內支付了股息，這意味着公司非常重視與股東分享其利潤。在研究了最新的分析師共識數據後，我們發現該公司預計在未來三年內將繼續支付其利潤的約24％。因此，分析師預測roe爲21％，公司未來的roe也不會發生太大變化。
Conclusion
結論
On the whole, we feel that Amphenol's performance has been quite good. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. 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 company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
總的來說，我們認爲Amphenol的表現相當不錯。特別是，它非常重視投資業務，並且隨着高回報率，這導致了其盈利的顯着增長。雖然如此，最新分析師預測的研究表明，該公司預計未來的盈利增長將放緩。要了解有關公司未來盈利增長預測的更多信息，請查看有關該公司分析師預測的免費報告。
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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
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譯文內容由第三人軟體翻譯。