Could The Market Be Wrong About AMETEK, Inc. (NYSE:AME) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About AMETEK, Inc. (NYSE:AME) Given Its Attractive Financial Prospects?
It is hard to get excited after looking at AMETEK's (NYSE:AME) recent performance, when its stock has declined 3.1% over the past three months. 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. In this article, we decided to focus on AMETEK's ROE.
在查看阿美特克(紐交所:AME)最近的表現後,股票在過去三個月下跌了3.1%,很難感到興奮。然而,對其健康的財務狀況進行更仔細的審視可能會讓您再次思考。鑑於基本面通常推動着長期市場結果,這家公司值得關注。在本文中,我們決定專注於阿美特克的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 Do You Calculate Return On Equity?
怎樣計算ROE?
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 AMETEK is:
因此,根據上述公式,AMETEK的ROE爲:
14% = US$1.3b ÷ US$9.3b (Based on the trailing twelve months to June 2024).
14% = 13億美元 ÷ 93億美元(截至2024年6月的過去十二個月)。
The 'return' is the yearly profit. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.14 in profit.
'回報'即爲年利潤。也就是說,對於每1美元的股本,該公司能夠賺取0.14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?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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 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衡量公司利潤產生效率的程度。現在我們需要評估公司爲未來增長而重新投資或「保留」的利潤數量,然後了解公司的增長潛力。假設其他一切不變,roe和利潤保留率越高,公司的增長率就越高,而與不一定具備這些特徵的公司相比,這種增長率的相對性就越高。
A Side By Side comparison of AMETEK's Earnings Growth And 14% ROE
阿美特克的盈利增長和14%的roe的並排比較
To begin with, AMETEK seems to have a respectable ROE. Even when compared to the industry average of 12% the company's ROE looks quite decent. Consequently, this likely laid the ground for the decent growth of 11% seen over the past five years by AMETEK.
首先,阿美特克的roe看起來很可觀。即使與行業平均12%相比,公司的roe看起來相當不錯。因此,這很可能爲阿美特克過去五年中的11%的良好增長奠定了基礎。
We then compared AMETEK's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 14% in the same 5-year period, which is a bit concerning.
我們隨後將阿美特克的淨利潤增長與行業進行了比較,發現公司的增長數據低於同一5年期間14%的平均行業增長率,這有點令人擔憂。
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. What is AME worth today? The intrinsic value infographic in our free research report helps visualize whether AME is currently mispriced by the market.
盈利增長是股票估值的一個重要因素。對於投資者來說,了解市場是否已經將公司預期的盈利增長(或下降)價格化是很重要的。通過這樣做,他們就能知道股票是朝着清澈的藍色水域前進,還是會陷入混濁的水域。AME今天價值多少?我們免費的研究報告中的內在價值信息圖表可以幫助您看出市場是否目前高估了AME。
Is AMETEK Efficiently Re-investing Its Profits?
阿美特克是否高效地重新投資其利潤?
AMETEK has a low three-year median payout ratio of 18%, meaning that the company retains the remaining 82% of its profits. This suggests that the management is reinvesting most of the profits to grow the business.
AMETEk的三年中位數低至18%的支付比率意味着公司保留了其利潤的其餘82%。這表明管理層正在重新投資大部分利潤以發展業務。
Besides, AMETEK has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 17%. Accordingly, forecasts suggest that AMETEK's future ROE will be 15% which is again, similar to the current ROE.
此外,阿美特克至少連續十年以上一直在支付股息。這顯示公司致力於與股東分享利潤。根據最新的分析師預測,我們發現公司未來三年的支付比率預計將穩定在17%左右。因此,預測顯示阿美特克未來的ROE將爲15%,這與當前的ROE相似。
Conclusion
結論
In total, we are pretty happy with AMETEK's performance. 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 respectable growth in its earnings. We also studied the latest analyst forecasts and found that the company's earnings growth is expected be similar to its current growth rate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總的來說,我們對阿美特克的表現相當滿意。特別是,很高興看到公司大舉投資於其業務,並且伴隨着高回報率,這導致了其收入的可觀增長。我們還研究了最新的分析師預測,並發現公司的收入增長預期與當前增長率相似。要了解更多關於該公司最新分析師預測的信息,請查看該公司的分析師預測可視化。
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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。
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