Newpark Resources, Inc.'s (NYSE:NR) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Newpark Resources, Inc.'s (NYSE:NR) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
It is hard to get excited after looking at Newpark Resources' (NYSE:NR) recent performance, when its stock has declined 8.6% over the past week. However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. In this article, we decided to focus on Newpark Resources' ROE.
在看過Newpark Resources(紐交所:NR)最近的表現後,很難感到興奮,因爲其股價在過去一週下跌了8.6%。然而,股票價格通常受到公司長期的財務狀況的影響,在這種情況下看起來相當可觀。在本文中,我們決定聚焦於Newpark Resources的ROE。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股東權益回報率ROE是測試公司增值能力和管理股東投資的有效性的指標。更簡單地說,它衡量公司在股東權益中的盈利能力。
How To Calculate Return On Equity?
如何計算股東權益報酬率?
The formula for return on equity is:
權益回報率的計算公式是:
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 Newpark Resources is:
因此,根據上述公式,Newpark Resources的ROE爲:
5.3% = US$23m ÷ US$427m (Based on the trailing twelve months to June 2024).
5.3% = 2300萬美元 ÷ 42700萬美元(基於截至2024年6月的過去十二個月)。
The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.05 in profit.
「回報」是過去十二個月稅後收益的金額。一種概念化的方法是,對於每1美元的股東資本,公司獲得了0.05美元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
ROE與盈利增長之間的關係是什麼?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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. 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作爲評估公司未來收益的有效指標。現在我們需要評估公司爲未來增長所保留的利潤量,從而給我們一個關於公司增長潛力的想法。假設其他條件都相同,既具有較高ROE又具有較高利潤保留的公司通常是增長率更高的公司,相比之下沒有這些特點的公司會更低。
Newpark Resources' Earnings Growth And 5.3% ROE
新園能源的盈利增長和5.3%的roe
At first glance, Newpark Resources' ROE doesn't look very promising. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 13% either. In spite of this, Newpark Resources was able to grow its net income considerably, at a rate of 27% in the last five years. Therefore, there could be other reasons behind this growth. For instance, the company has a low payout ratio or is being managed efficiently.
乍一看,新園能源的roe看起來並不太令人期待。進一步研究後發現,該公司的roe也不如行業平均水平13%。儘管如此,新園能源的淨利潤在過去五年以27%的速度得到相當大的增長。因此,這種增長背後可能還有其他原因。例如,該公司的派息比率較低或者管理效率高。
We then compared Newpark Resources' net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 48% in the same 5-year period, which is a bit concerning.
接着,我們將新園能源的淨利潤增長與行業進行了比較,發現該公司的增長率低於同一5年期間行業平均增長率48%,這有點讓人擔憂。
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Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Newpark Resources is trading on a high P/E or a low P/E, relative to its industry.
盈利增長是股票估值的一個重要因素。投資者應該努力確定預期的盈利增長或下降是否已經被定價。這有助於他們判斷股票是前景光明還是前景黯淡。預期盈利增長的一個良好指標是市盈率,它根據公司盈利前景確定市場願意爲一支股票支付的價格。因此,您可能希望檢查新園能源的市盈率相對於其行業是偏高還是偏低。
Is Newpark Resources Making Efficient Use Of Its Profits?
新園能源是否高效利用其利潤?
Given that Newpark Resources doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
考慮到新園能源不向股東支付常規股息,我們推斷該公司一直在重新投資其所有利潤以發展業務。
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 Newpark Resources has some positive aspects to its business. Namely, its respectable earnings growth, which it achieved due to it retaining most of its profits. However, given the low ROE, investors may not be benefitting from all that reinvestment after all. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. 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.
總的來看,新園能源的業務確實具備一些積極因素。尤其是,它取得的可觀盈利增長,這是因爲它保留了大部分利潤。然而,鑑於較低的roe,投資者可能並沒有從所有的再投資中受益。鑑於最新的分析師預測顯示該公司的盈利將繼續擴張,這些分析師的預期是基於行業的整體預期,還是基於公司的基本面?點擊這裏查看我們公司分析師的預測頁面。
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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。
譯文內容由第三人軟體翻譯。