U-Haul Holding Company's (NYSE:UHAL) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
U-Haul Holding Company's (NYSE:UHAL) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
With its stock down 2.4% over the past three months, it is easy to disregard U-Haul Holding (NYSE:UHAL). However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. Particularly, we will be paying attention to U-Haul Holding's ROE today.
由於過去三個月其股價下跌了2.4％，因此很容易忽略U-Haul Holding（NYSE：UHAL）。然而，公司的基本面看起來相當不錯，長期財務狀況通常與未來市場價格走勢保持一致。特別是，今天我們將關注U-Haul Holding的ROE。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE或股東權益報酬率是一種有用的工具，用於評估一家公司能否有效地利用來自股東的投資產生回報。換句話說，它揭示了公司將股東的投資變成利潤的成功程度。
How Do You Calculate Return On Equity?
怎樣計算ROE?
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 U-Haul Holding is:
因此，根據上述公式，U-Haul Holding的ROE爲：
8.8% = US$629m ÷ US$7.2b (Based on the trailing twelve months to March 2024).
8.8％= US$629m ÷ US$7.2b（截至2024年3月的過去十二個月）。
The 'return' is the yearly profit. That means that for every $1 worth of shareholders' equity, the company generated $0.09 in profit.
“回報”是每年的利潤。這意味着對於每1美元的股東權益價值，公司創造了0.09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？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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 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是衡量公司未來盈利能力的有效指標。基於公司選擇再投資或“留存”利潤的比例，我們可以評估公司未來生成利潤的能力。其他條件相同的情況下，具有更高淨資產收益率和更高利潤留存率的公司通常比沒有這些特點的公司增長率更高。
A Side By Side comparison of U-Haul Holding's Earnings Growth And 8.8% ROE
U-Haul Holding盈利增長和8.8％ ROE的並排比較
On the face of it, U-Haul Holding's ROE is not much to talk about. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 11% either. Although, we can see that U-Haul Holding saw a modest net income growth of 16% over the past five years. So, there might be other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.
乍一看，U-Haul Holding的ROE並不值得討論。簡短的進一步研究顯示，該公司的ROE也不如11％的行業平均水平。儘管如此，我們可以看到U-Haul Holding在過去五年中實現了16％的適度淨利潤增長。因此，可能還有其他因素對公司的盈利增長產生了積極影響。例如-高額收益保留或有效的管理。
As a next step, we compared U-Haul Holding'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 16% in the same period.
作爲下一步，我們將U-Haul Holding的淨收入增長與行業進行了比較，並發現該公司與同期16％的行業平均增長率有着類似的增長數字。
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. If you're wondering about U-Haul Holding's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
爲附加價值的基礎在很大程度上取決於公司的盈利增長。對於投資者來說，了解市場是否已經定價了公司預期的盈利增長（或下降）至關重要。這有助於他們確定股票是面臨光明還是黯淡的未來。如果您想了解U-Haul Holding的估值，請查看其市盈率與行業的比較。
Is U-Haul Holding Efficiently Re-investing Its Profits?
U-Haul Holding是否有效地重新投資其利潤？
While the company did pay out a portion of its dividend in the past, it currently doesn't pay a regular dividend. We infer that the company has been reinvesting all of its profits to grow its business.
雖然該公司過去支付了一部分股息，但目前不支付常規股息。我們推斷該公司已經用全部利潤來維持業務增長。
Summary
總的來說，我們對偉明環保的表現非常滿意。具體而言，我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然，這導致公司的收益大幅增長。但是，最新的行業分析師預測表明，該公司的收益預計將加速增長。
In total, it does look like U-Haul Holding has some positive aspects to its business. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. To know the 1 risk we have identified for U-Haul Holding visit our risks dashboard for free.
總的來說，U-Haul Holding的業務看起來確實有一些積極方面。即使回報率低，由於大量重投資於業務，公司也實現了令人印象深刻的盈利增長。雖然我們不會完全否定公司，但我們將嘗試確定業務的風險，以便更全面地決定該公司。要了解我們已爲U-Haul Holding確定的1個風險，請免費訪問我們的風險儀表板。
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對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者，發送電子郵件至editorial-team (at) simplywallst.com。
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。