U-Haul Holding Company's (NYSE:UHAL) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
U-Haul Holding Company's (NYSE:UHAL) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
With its stock down 2.4% over the past three months, it is easy to disregard U-Haul Holding (NYSE:UHAL). However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. Particularly, we will be paying attention to U-Haul Holding's ROE today.
由于过去三个月其股价下跌了2.4％，因此很容易忽略U-Haul Holding（NYSE：UHAL）。然而，公司的基本面看起来相当不错，长期财务状况通常与未来市场价格走势保持一致。特别是，今天我们将关注U-Haul Holding的ROE。
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. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE或股东权益报酬率是一种有用的工具，用于评估一家公司能否有效地利用来自股东的投资产生回报。换句话说，它揭示了公司将股东的投资变成利润的成功程度。
How Do You Calculate Return On Equity?
怎样计算ROE?
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 U-Haul Holding is:
因此，根据上述公式，U-Haul Holding的ROE为：
8.8% = US$629m ÷ US$7.2b (Based on the trailing twelve months to March 2024).
8.8％= US$629m ÷ US$7.2b（截至2024年3月的过去十二个月）。
The 'return' is the yearly profit. That means that for every $1 worth of shareholders' equity, the company generated $0.09 in profit.
“回报”是每年的利润。这意味着对于每1美元的股东权益价值，公司创造了0.09美元的利润。
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. 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. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
我们已经确定ROE是衡量公司未来盈利能力的有效指标。基于公司选择再投资或“留存”利润的比例，我们可以评估公司未来生成利润的能力。其他条件相同的情况下，具有更高净资产收益率和更高利润留存率的公司通常比没有这些特点的公司增长率更高。
A Side By Side comparison of U-Haul Holding's Earnings Growth And 8.8% ROE
U-Haul Holding盈利增长和8.8％ ROE的并排比较
On the face of it, U-Haul Holding's ROE is not much to talk about. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 11% either. Although, we can see that U-Haul Holding saw a modest net income growth of 16% over the past five years. So, there might be other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.
乍一看，U-Haul Holding的ROE并不值得讨论。简短的进一步研究显示，该公司的ROE也不如11％的行业平均水平。尽管如此，我们可以看到U-Haul Holding在过去五年中实现了16％的适度净利润增长。因此，可能还有其他因素对公司的盈利增长产生了积极影响。例如-高额收益保留或有效的管理。
As a next step, we compared U-Haul Holding'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 16% in the same period.
作为下一步，我们将U-Haul Holding的净收入增长与行业进行了比较，并发现该公司与同期16％的行业平均增长率有着类似的增长数字。
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). This then helps them determine if the stock is placed for a bright or bleak future. If you're wondering about U-Haul Holding's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
为附加价值的基础在很大程度上取决于公司的盈利增长。对于投资者来说，了解市场是否已经定价了公司预期的盈利增长（或下降）至关重要。这有助于他们确定股票是面临光明还是黯淡的未来。如果您想了解U-Haul Holding的估值，请查看其市盈率与行业的比较。
Is U-Haul Holding Efficiently Re-investing Its Profits?
U-Haul Holding是否有效地重新投资其利润？
While the company did pay out a portion of its dividend in the past, it currently doesn't pay a regular dividend. We infer that the company has been reinvesting all of its profits to grow its business.
虽然该公司过去支付了一部分股息，但目前不支付常规股息。我们推断该公司已经用全部利润来维持业务增长。
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。
In total, it does look like U-Haul Holding has some positive aspects to its business. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. To know the 1 risk we have identified for U-Haul Holding visit our risks dashboard for free.
总的来说，U-Haul Holding的业务看起来确实有一些积极方面。即使回报率低，由于大量重投资于业务，公司也实现了令人印象深刻的盈利增长。虽然我们不会完全否定公司，但我们将尝试确定业务的风险，以便更全面地决定该公司。要了解我们已为U-Haul Holding确定的1个风险，请免费访问我们的风险仪表板。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
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 (at) simplywallst.com。
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。