Helmerich & Payne, Inc.'s (NYSE:HP) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Helmerich & Payne, Inc.'s (NYSE:HP) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Helmerich & Payne (NYSE:HP) has had a rough three months with its share price down 18%. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Particularly, we will be paying attention to Helmerich & Payne's ROE today.
纽交所:Helmerich & Payne (NYSE:HP)这家公司的股价在过去的三个月中非常不景气,下跌了18%。然而,股票价格通常受到公司长期的财务业绩的推动,而在这种情况下,公司的前景看起来相当有前途。特别是,我们今天将关注Helmerich & Payne的roe。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股东要考虑的关键因素之一是净资产收益率或roe,因为它告诉他们公司如何有效地重新投资他们的资本。简单点说,它衡量了公司与股东权益相关的盈利能力。
How To Calculate Return On Equity?
如何计算股东权益报酬率?
ROE can be calculated by using the formula:
净资产收益率可以使用以下公式进行计算:
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 Helmerich & Payne is:
因此,基于上述公式,Helmerich & Payne的ROE为13%:
13% = US$353m ÷ US$2.8b (Based on the trailing twelve months to March 2024).
13%= 35.3亿美元 ÷ 28亿美元(基于截至2024年3月的过去十二个月)。
The 'return' is the income the business earned over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.13 in profit.
“回报率”是公司过去一年的收入。一个概念化的方法是,对于每1美元的股东资本,公司赚取了0.13美元的利润。
What Is The Relationship Between ROE And Earnings Growth?
既然我们已经确定ROE是一种有效的利润生成标准,用于评估公司未来的盈利能力,我们现在需要评估公司“保留”为未来增长而重新投资的利润多少,这使我们对公司的增长潜力有了一个了解。一般而言,在其他条件相等的情况下,ROE和利润留存高的公司,增长率比没有这些属性的公司要高。
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.
到目前为止,我们已经了解了ROE衡量公司利润产生效率的方式。现在我们需要评估公司重新投资或“保留”的利润是多少,这会让我们对公司的增长潜力有一个想法。假设其他一切保持不变,ROE和利润保留率越高,公司的增长率就越高,相比于不一定具备这些特征的公司。
Helmerich & Payne's Earnings Growth And 13% ROE
Helmerich & Payne的净利润增长和13%的roe
To start with, Helmerich & Payne's ROE looks acceptable. Even when compared to the industry average of 13% the company's ROE looks quite decent. This certainly adds some context to Helmerich & Payne's exceptional 47% net income growth seen over the past five years. We reckon that there could also be other factors at play here. For instance, the company has a low payout ratio or is being managed efficiently.
首先,Helmerich & Payne的roe看起来是可接受的。即使与13%的行业平均值相比,公司的roe看起来相当不错。这肯定为Helmerich & Payne过去五年出色的47%净利润增长增添了一些背景。我们认为,这里可能也会有其他因素起作用。例如,公司的支付比率较低或者正在被有效地管理。
As a next step, we compared Helmerich & Payne'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 45% in the same period.
作为下一步,我们将Helmerich & Payne的净利润增长与行业进行比较,并发现与同期的45%的行业平均增长率相比,公司具有类似的增长数据。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240622/0-b936ad8f19001306a0a11d373157cd1f-0-276356dc2b7450076d1e613c95d92d56.png/big)
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 HP worth today? The intrinsic value infographic in our free research report helps visualize whether HP is currently mispriced by the market.
盈利增长是股票估值的巨大因素。对于投资者来说,知道市场是否已经定价了公司预期的盈利增长(或下降)非常重要。这样,他们将了解股票是否会进入碧波之中,或者是否会遭遇泥泞的乌滋。HP今天值多少钱?我们免费研究报告中的内在价值信息图可帮助可视化是否市场错误定价了HP。
Is Helmerich & Payne Using Its Retained Earnings Effectively?
Helmerich & Payne是否有效地利用其留存收益?
Helmerich & Payne's three-year median payout ratio to shareholders is 24%, which is quite low. This implies that the company is retaining 76% of its profits. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.
Helmerich & Payne向股东支付的三年中位数支付比率为24%,相当低。这意味着公司保留了76%的利润。这表明管理层正在将大部分利润再投资来发展业务,这可以从公司实现的增长中看出。
Additionally, Helmerich & Payne has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with 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 28%. As a result, Helmerich & Payne's ROE is not expected to change by much either, which we inferred from the analyst estimate of 13% for future ROE.
此外,Helmerich & Payne在至少十年的时间内支付了股息,这意味着该公司非常认真地与股东分享其利润。根据最新的分析师预测,我们发现未来三年该公司的股息支付比率预计将保持稳定在28%。因此,Helmerich & Payne的roe预计也不会发生太大变化,这是我们根据分析师未来roe的13%推断出来的。
Conclusion
结论
Overall, we are quite pleased with Helmerich & Payne's performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. 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Helmerich & Payne的表现感到非常满意。具体来说,我们喜欢公司以高回报率重新投资大量利润的方式。当然,这导致公司的收益获得了实质性增长。话虽如此,根据目前的分析师预测,公司的盈利增长预计会放缓。这些分析师的预期是基于行业的广泛预期还是基于公司的基本面?单击此处转到我们的分析师预测页面,了解该公司的预测。
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这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有反馈?关于内容有所顾虑?直接和我们联系。或者发送电子邮件至editorial-team@simplywallst.com。