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Flowserve Corporation's (NYSE:FLS) Stock Has Fared Decently: Is the Market Following Strong Financials?

Flowserve Corporation's (NYSE:FLS) Stock Has Fared Decently: Is the Market Following Strong Financials?

Flowserve Corporation(纽约证券交易所代码:FLS)的股票表现不错:市场是否追随强劲的财务状况?
Simply Wall St ·  2023/12/12 12:10

Flowserve's (NYSE:FLS) stock is up by 3.2% over the past month. 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 Flowserve's ROE.

Flowserve(纽约证券交易所代码:FLS)的股票在过去一个月中上涨了3.2%。鉴于从长远来看,市场会奖励强劲的财务状况,我们想知道在这种情况下,情况是否如此。在本文中,我们决定重点关注Flowserve的投资回报率。

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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

ROE或股本回报率是评估公司如何有效地从股东那里获得的投资中获得回报的有用工具。简而言之,它用于评估公司相对于其股权资本的盈利能力。

View our latest analysis for Flowserve

查看我们对 Flowserve 的最新分析

How Is ROE Calculated?

ROE 是如何计算的?

Return on equity can be calculated by using the formula:

股本回报率可以使用以下公式计算:

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

股本回报率 = 净利润(来自持续经营业务)÷ 股东权益

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

因此,根据上述公式,Flowserve的投资回报率为:

14% = US$263m ÷ US$1.9b (Based on the trailing twelve months to September 2023).

14% = 2.63亿美元 ¥19亿美元(基于截至2023年9月的过去十二个月)。

The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.14 in profit.

“回报” 是过去十二个月的利润。将其概念化的一种方法是,公司每拥有1美元的股东资本,就能获得0.14美元的利润。

What Has ROE Got To Do With Earnings Growth?

投资回报率与收益增长有什么关系?

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,投资回报率是衡量公司盈利能力的指标。根据公司选择将多少利润进行再投资或 “保留”,我们便能够评估公司未来创造利润的能力。一般而言,在其他条件相同的情况下,股本回报率和利润留存率高的公司的增长率要高于不具有这些属性的公司。

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

Flowserve的收益增长和14%的投资回报率的并行比较

To start with, Flowserve's ROE looks acceptable. And on comparing with the industry, we found that the the average industry ROE is similar at 15%. This probably goes some way in explaining Flowserve's moderate 8.6% growth over the past five years amongst other factors.

首先,Flowserve的投资回报率看起来可以接受。与行业相比,我们发现行业的平均投资回报率相似,为15%。除其他因素外,这可能在某种程度上解释了Flowserve在过去五年中温和增长8.6%。

As a next step, we compared Flowserve'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 8.8% in the same period.

下一步,我们将Flowserve的净收入增长与行业进行了比较,发现与同期8.8%的行业平均增长率相比,该公司的增长数字相似。

past-earnings-growth
NYSE:FLS Past Earnings Growth December 12th 2023
纽约证券交易所:FLS 过去的收益增长 2023 年 12 月 12 日

Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is FLS fairly valued? This infographic on the company's intrinsic value has everything you need to know.

收益增长是估值股票时要考虑的重要指标。投资者应努力确定预期的收益增长或下降,无论情况如何,是否已被考虑在内。通过这样做,他们将知道这只股票是进入清澈的蓝色海水还是沼泽水域在等着你。FLS 的估值是否公平?这张关于公司内在价值的信息图包含了你需要知道的一切。

Is Flowserve Making Efficient Use Of Its Profits?

Flowserve 是否在有效利用其利润?

While Flowserve has a three-year median payout ratio of 70% (which means it retains 30% of profits), the company has still seen a fair bit of earnings growth in the past, meaning that its high payout ratio hasn't hampered its ability to grow.

尽管Flowserve的三年中位支付率为70%(这意味着它保留了30%的利润),但该公司过去仍实现了相当大的收益增长,这意味着其高派息率并未阻碍其增长能力。

Moreover, Flowserve is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 26% over the next three years. Accordingly, the expected drop in the payout ratio explains the expected increase in the company's ROE to 17%, over the same period.

此外,Flowserve决心继续与股东分享利润,这是我们从其支付股息至少十年的悠久历史中推断出来的。在研究了最新的分析师共识数据后,我们发现该公司的未来派息率预计将在未来三年内降至26%。因此,预期的派息率下降解释了该公司的投资回报率预计同期将增长至17%。

Conclusion

结论

In total, we are pretty happy with Flowserve's performance. Especially the high ROE, Which has contributed to the impressive growth seen in earnings. Despite the company reinvesting only a small portion of its profits, it still has managed to grow its earnings so that is appreciable. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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.

总的来说,我们对Flowserve的表现非常满意。尤其是高投资回报率,这为收益的惊人增长做出了贡献。尽管该公司仅将利润的一小部分再投资,但它仍然设法增加了收益,因此这是可观的。话虽如此,从分析师目前的估计来看,我们发现该公司的收益有望增强。这些分析师的预期是基于对该行业的广泛预期,还是基于公司的基本面?点击此处进入我们分析师对公司的预测页面。

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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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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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