Is Tidewater Inc.'s (NYSE:TDW) Recent Stock Performance Tethered To Its Strong Fundamentals?
Is Tidewater Inc.'s (NYSE:TDW) Recent Stock Performance Tethered To Its Strong Fundamentals?
Tidewater's (NYSE:TDW) stock is up by a considerable 12% 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. In this article, we decided to focus on Tidewater's ROE.
Tidewater（紐交所：TDW）的股票在過去三個月中上漲了12％。鑑於市場長期獎勵實力強勁的財務狀況，我們想知道這是否適用於此情況。在本文中，我們決定將重點放在Tidewater的roe上。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
淨資產收益率（ROE）是衡量公司增值和管理投資者資金有效性的測試。換句話說，它是一種盈利能力比率，用於衡量公司股東提供的資金回報率。
How Is ROE Calculated?
淨資產收益率怎麼計算？
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算：
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 Tidewater is:
因此，根據上述公式，Tidewater的roe爲：
12% = US$132m ÷ US$1.1b (Based on the trailing twelve months to March 2024).
12％= 1.32億美元÷ 11億美元（基於截至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 $0.12 in profit.
'回報'是年利潤。這意味着對於每1美元的股東權益，公司產生了0.12美元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
既然我們已經確定ROE是一種有效的利潤生成標準，用於評估公司未來的盈利能力，我們現在需要評估公司“保留”爲未來增長而重新投資的利潤多少，這使我們對公司的增長潛力有了一個了解。一般而言，在其他條件相等的情況下，ROE和利潤留存高的公司，增長率比沒有這些屬性的公司要高。
So far, we've learned that ROE is a measure of a company's profitability. 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. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
到目前爲止，我們已經了解到ROE是衡量公司盈利能力的一個指標。現在我們需要評估公司再投資或“保留”未來增長所需的利潤，然後我們可以大致了解公司的增長潛力。一般來說，在其他條件相等的情況下，具有高ROE和利潤保留的公司比沒有這些屬性的公司具有更高的增長率。
Tidewater's Earnings Growth And 12% ROE
Tidewater的盈利增長和12％的roe
To start with, Tidewater's ROE looks acceptable. Even when compared to the industry average of 13% the company's ROE looks quite decent. This probably goes some way in explaining Tidewater's significant 47% net income growth over the past five years amongst other factors. However, there could also be other drivers behind this growth. Such as - high earnings retention or an efficient management in place.
首先，Tidewater的roe看起來是可以接受的。即使與行業平均水平的13％相比，該公司的roe也相當不錯。這可能在一定程度上解釋了Tidewater在過去五年中淨利潤增長了47％等因素。然而，這種增長背後也可能有其他驅動因素，例如高利潤保留或有效的管理等。
We then performed a comparison between Tidewater's net income growth with the industry, which revealed that the company's growth is similar to the average industry growth of 46% in the same 5-year period.
然後我們將Tidewater的淨收入增長與行業進行了比較，發現該公司的增長與同樣的5年期內行業增長46％相似。
Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. If you're wondering about Tidewater's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
盈利增長是股票估值時要考慮的一個重要指標。接下來，投資者需要確定預期的收益增長或缺乏收益增長是否已經反映在股票價格中。通過這樣做，他們將知道股票是處於清澈的藍色海水中，還是等待着泥濘的水域。如果您想了解Tidewater的估值，請查看其市盈率與其行業相比的情況。
Is Tidewater Making Efficient Use Of Its Profits?
Tidewater是否有效地利用其利潤？
Tidewater doesn't pay any regular dividends to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
Tidewater不向股東支付常規股息，這意味着該公司一直將所有利潤再投資於業務中。這很可能是上述高盈利增長數字的推動力。
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。
On the whole, we feel that Tidewater'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. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
總體而言，我們認爲Tidewater表現相當不錯。特別是，我們喜歡該公司大量再投資於業務，並以較高的回報率。不出所料，這導致了令人印象深刻的盈利增長。最新的行業分析師預測顯示，該公司預計將維持其當前的增長率。這些分析師的預期是基於行業的廣泛預期，還是基於該公司的基本面？單擊此處可以訪問我們的分析師預測頁面。
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.
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@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
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。
譯文內容由第三人軟體翻譯。