Could The Market Be Wrong About IDEX Corporation (NYSE:IEX) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About IDEX Corporation (NYSE:IEX) Given Its Attractive Financial Prospects?
With its stock down 11% over the past three months, it is easy to disregard IDEX (NYSE:IEX). 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. Specifically, we decided to study IDEX's ROE in this article.
在过去的三个月里，IDEX（NYSE：IEX）的股票下跌了11％，很容易被忽视。然而，对其健康的财务状况进行更深入的研究可能会让你重新考虑。鉴于基本面通常推动长期市场结果，公司值得关注。具体而言，我们决定在这篇文章中研究IDEX的roe。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回报率或ROE是一项用于评估公司管理层如何利用公司资本的效率的关键指标。简而言之，它用于评估公司相对于其股本资本的盈利能力。
How Is ROE Calculated?
净资产收益率怎么计算？
The formula for return on equity is:
权益回报率的计算公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润（从持续经营中获得）÷ 股东权益
So, based on the above formula, the ROE for IDEX is:
因此，根据上述公式，IDEX的ROE为：
16% = US$577m ÷ US$3.6b (Based on the trailing twelve months to March 2024).
16％ = US $ 57700万÷ US $ 36亿（基于截至2024年3月的过去十二个月）。
The 'return' is the yearly profit. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.16 in profit.
'回报'是每年的利润。一个理解它的方式是，对于每个股东的资本1美元，公司赚取了16美分的利润。
Why Is ROE Important For Earnings Growth?
ROE对于盈利增长的重要性是什么？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. 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.
我们已经确定roe对于公司未来收益的有效衡量工具。根据公司再投资或“留存”这些利润的程度及其有效性，我们随后可以评估公司的收益增长潜力。一般而言，其他条件相同的情况下，roe和利润留存率较高的公司比不具备这些属性的公司具有更高的增长率。
IDEX's Earnings Growth And 16% ROE
IDEX的盈利增长和16％的ROE
To start with, IDEX's ROE looks acceptable. Even when compared to the industry average of 14% the company's ROE looks quite decent. This probably goes some way in explaining IDEX's moderate 10% growth over the past five years amongst other factors.
首先，IDEX的ROE看起来可以接受。即使与14％的行业平均水平相比，该公司的ROE看起来也相当不错。这可能在一定程度上解释了IDEX在过去五年中适度增长10％等因素。
Next, on comparing with the industry net income growth, we found that IDEX's growth is quite high when compared to the industry average growth of 8.0% in the same period, which is great to see.
接下来，与行业净利润增长进行比较后，我们发现相对于同期行业平均增长率8.0％，IDEX的增长相当高，这是非常好的。
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). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is IEX fairly valued? This infographic on the company's intrinsic value has everything you need to know.
为一家公司赋值的基础在很大程度上与其盈利增长有关。投资者知道市场是否已经定价了公司预期的盈利增长（或下降）是很重要的。通过这样做，他们将了解股票是进入清晰的蓝色水域还是等待污浊的水域。IDEX是否公平价值？这份关于公司内在价值的信息图拥有你需要知道的一切。
Is IDEX Efficiently Re-investing Its Profits?
IDEX是否高效地再投资其利润？
IDEX has a healthy combination of a moderate three-year median payout ratio of 32% (or a retention ratio of 68%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.
IDEX具有中等的三年中位数支付比率32％（或留存比率68％）和盈利相当可观的增长的健康组合，这意味着该公司一直在有效利用其利润。
Besides, IDEX 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 29%. Accordingly, forecasts suggest that IDEX's future ROE will be 17% which is again, similar to the current ROE.
此外，IDEX至少已经连续十年支付股息。这表明公司致力于与股东分享利润。根据最新的分析师估计，我们发现公司未来三年的支付比率预计将保持稳定在29％。因此，预测表明IDEX未来的ROE将达到17％，这与当前的ROE相似。
Summary
总的来说，我们对伟明环保的表现非常满意。具体而言，我们喜欢公司以高回报率再投资了其利润的很大一部分。当然，这导致公司的收益大幅增长。但是，最新的行业分析师预测表明，该公司的收益预计将加速增长。
Overall, we are quite pleased with IDEX's performance. 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. We also studied the latest analyst forecasts and found that the company's earnings growth is expected be similar to 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.
总体而言，我们对IDEX的表现非常满意。特别是，我们喜欢公司大量地进行再投资，而且回报率很高。这不足为奇，这导致了令人印象深刻的盈利增长。我们还研究了最新的分析师预测，并发现公司的盈利增长预计与其当前的增长率相似。这些分析师的预期是基于这个行业的广泛预期，还是基于公司的基本面？点击此处转到我们的分析师预测页面。
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