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Is FormFactor, Inc.'s (NASDAQ:FORM) Recent Stock Performance Influenced By Its Financials In Any Way?

Is FormFactor, Inc.'s (NASDAQ:FORM) Recent Stock Performance Influenced By Its Financials In Any Way?

FormFactor公司(纳斯达克:FORM)最近的股票表现是否受到其财务状况的影响?
Simply Wall St ·  12/23 19:59

FormFactor's (NASDAQ:FORM) stock is up by 3.8% over the past month. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. In this article, we decided to focus on FormFactor's ROE.

FormFactor(纳斯达克:FORM)的股票在过去一个月上涨了3.8%。我们想知道公司的财务状况在价格变化中扮演了什么角色,因为公司长期的基本面通常决定市场结果。在这篇文章中,我们决定关注FormFactor的ROE。

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.

净资产收益率(ROE)是一项测试,旨在评估公司如何有效地增长其价值并管理投资者资金。换句话说,它是一个盈利能力比率,衡量由公司股东提供的资本的回报率。

How To Calculate Return On Equity?

如何计算股东权益回报率?

ROE can be calculated by using the formula:

ROE可以通过以下公式计算:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

股东权益回报率 = 净利润(来自持续运营)÷ 股东权益

So, based on the above formula, the ROE for FormFactor is:

因此,根据上述公式,FormFactor的ROE为:

14% = US$136m ÷ US$955m (Based on the trailing twelve months to September 2024).

14% = 13600万美元 ÷ 95500万美元(基于2024年9月的过去十二个月数据)。

The 'return' is the amount earned after tax over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.14 in profit.

“回报”是指过去十二个月税后所赚取的金额。这意味着每1美元的股东权益,公司产生了0.14美元的利润。

What Is The Relationship Between ROE And Earnings Growth?

What Is The Relationship Between ROE And Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. 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. 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.

到目前为止,我们已经了解到ROE是公司的盈利能力的一种衡量标准。根据公司选择再投资或“留存”的利润比例,我们能够评估公司未来产生利润的能力。一般来说,其他条件相同的情况下,具有高股本回报率和利润留存的公司,增长率往往高于没有这些特点的公司。

A Side By Side comparison of FormFactor's Earnings Growth And 14% ROE

FormFactor的盈利增长与14% ROE的并排比较

To begin with, FormFactor seems to have a respectable ROE. On comparing with the average industry ROE of 11% the company's ROE looks pretty remarkable. Yet, FormFactor has posted measly growth of 2.6% over the past five years. This is interesting as the high returns should mean that the company has the ability to generate high growth but for some reason, it hasn't been able to do so. We reckon that a low growth, when returns are quite high could be the result of certain circumstances like low earnings retention or poor allocation of capital.

首先,FormFactor似乎有着令人尊敬的ROE。与行业平均ROE 11%比较,该公司的ROE看起来相当出色。然而,FormFactor在过去五年中的增长仅为2.6%。这很有趣,因为高回报应该意味着公司有能力产生高增长,但出于某种原因它却未能做到。我们认为,当回报较高时,低增长可能是由于低盈利留存或资本配置不当等特定情况导致的。

Next, on comparing with the industry net income growth, we found that FormFactor's reported growth was lower than the industry growth of 21% over the last few years, which is not something we like to see.

接下来,与行业净利润增长比较,我们发现FormFactor的报告增长低于过去几年的行业增长21%,这是我们不愿意看到的。

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NasdaqGS:FORM Past Earnings Growth December 23rd 2024
纳斯达克GS:FORM过去的盈利增长 2024年12月23日

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). Doing so will help them establish if the stock's future looks promising or ominous. Is FormFactor fairly valued compared to other companies? These 3 valuation measures might help you decide.

为公司估值的基础在很大程度上与其盈利增长相关。了解市场是否已经考虑到公司的预期盈利增长(或下降)对投资者来说非常重要。这样可以帮助他们确定该股票的未来前景是乐观还是悲观。 相比其他公司,FormFactor的估值是否合理?这三项估值指标可能会帮助你做出决定。

Is FormFactor Making Efficient Use Of Its Profits?

FormFactor是否有效利用其利润?

FormFactor doesn't pay any regular dividends currently which essentially means that it has been reinvesting all of its profits into the business. This doesn't explain the low earnings growth number that we discussed above. Therefore, there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.

FormFactor目前不支付任何定期分红,这基本上意味着它将所有利润再投资于业务。这并未解释我们之前讨论的盈利增长低的数字。因此,可能还有其他原因可以解释这一现象。例如,业务可能正在衰退。

Conclusion

结论

Overall, we feel that FormFactor certainly does have some positive factors to consider. However, given the high ROE and high profit retention, we would expect the company to be delivering strong earnings growth, but that isn't the case here. This suggests that there might be some external threat to the business, that's hampering its growth. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

总体而言,我们认为FormFactor确实有一些积极因素需要考虑。然而,鉴于其高ROE和高利润留存率,我们本应该期待该公司实现强劲的盈利增长,但事实并非如此。这表明业务可能面临一些外部威胁,抑制了其增长。话虽如此,最新的分析师预测显示,公司将继续实现盈利扩张。要了解有关该公司的最新分析师预测,请查看该公司的分析师预测可视化图表。

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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.

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这篇来自Simply Wall St的文章是一般性的。我们根据历史数据和分析师预测提供评论,采用无偏见的方法,我们的文章并不旨在提供财务建议。它不构成对任何股票的买入或卖出建议,也未考虑到您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意,我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St在提到的任何股票中均没有持仓。

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