Core Laboratories Inc.'s (NYSE:CLB) Stock Is Going Strong: Have Financials A Role To Play?
Core Laboratories Inc.'s (NYSE:CLB) Stock Is Going Strong: Have Financials A Role To Play?
Core Laboratories (NYSE:CLB) has had a great run on the share market with its stock up by a significant 25% over the last three months. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to study its financial indicators more closely to see if they had a hand to play in the recent price move. Particularly, we will be paying attention to Core Laboratories' ROE today.
Core Laboratories (纽交所:CLB)股价在过去三个月显著上涨25%,表现出色。考虑到股票价格通常与公司的财务表现长期对齐,我们决定更加密切地研究其财务指标,以确定其是否对最近的股价波动有所作为。尤其是今天我们将关注Core Laboratories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. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE(净资产收益率)是股东需考虑的一个重要因素,因为它告诉他们资本被有效地再投资的效果如何。换句话说,它揭示了公司将股东的投资转化为利润的成功程度。
How Do You Calculate Return On Equity?
怎样计算ROE?
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 Core Laboratories is:
因此,基于上述公式,Core Laboratories的roe为:
16% = US$38m ÷ US$237m (Based on the trailing twelve months to March 2024).
16%= US$3800万 ÷ US$23700万(基于截至2024年3月的过去十二个月)。
The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.16.
“回报率”是年利润。“每1美元的股东投资能带来0.16美元的利润”的意思是。
Why Is ROE Important For Earnings Growth?
ROE为什么对净利润增长很重要?
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是一个公司未来盈利的高效测量工具。基于公司选择重新投资或“保留”多少利润,我们可以评估公司未来产生利润的能力。假设其他条件相同,具有更高股本回报率和更高利润保留比的公司通常增长速度较高,而没有相同特征的公司则通常增长速度较低。
Core Laboratories' Earnings Growth And 16% ROE
Core Laboratories的收益增长和16%的roe
At first glance, Core Laboratories seems to have a decent ROE. On comparing with the average industry ROE of 13% the company's ROE looks pretty remarkable. However, we are curious as to how the high returns still resulted in flat growth for Core Laboratories in the past five years. Based on this, we feel that there might be other reasons which haven't been discussed so far in this article that could be hampering the company's growth. Such as, the company pays out a huge portion of its earnings as dividends, or is faced with competitive pressures.
乍一看,Core Laboratories的roe似乎还不错。但与行业平均roe 13%相比,该公司的roe看起来相当不错。然而,我们很好奇高回报为什么在过去五年里仍导致Core Laboratories的增长停滞。基于此,我们觉得可能还有其他未在本文中讨论的原因可能阻碍了该公司的增长。例如,公司将其巨额收益的一大部分用作股息分红,或面临竞争压力。
Next, on comparing with the industry net income growth, we found that the industry grew its earnings by 45% over the last few years.
接下来,与行业净收入增长相比,我们发现行业在过去几年的收益增长了45%。
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The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. What is CLB worth today? The intrinsic value infographic in our free research report helps visualize whether CLB is currently mispriced by the market.
衡量公司价值的基础在很大程度上与其收益增长相关。投资者需要确定下一步预期的收益增长是否已经反映在股价中。这样做将有助于他们确定股票的未来是否看好还是黯淡无光。CLb今天的价值是多少?我们免费的研究报告中的内在价值图表有助于可视化CLb当前是否被市场错误定价。
Is Core Laboratories Making Efficient Use Of Its Profits?
Core Laboratories是否有效利用其利润?
Core Laboratories has a low three-year median payout ratio of 7.8% (or a retention ratio of 92%) but the negligible earnings growth number doesn't reflect this as high growth usually follows high profit retention.
Core Laboratories的三年中位数支付比率很低,只有7.8%(或保留比率为92%),但微不足道的盈利增长数字并未反映出这一点,因为高增长通常跟随高利润保留。
Additionally, Core Laboratories has paid dividends over a period of at least ten years, which means that the company's management is determined to pay dividends even if it means little to no earnings growth. Existing analyst estimates suggest that the company's future payout ratio is expected to drop to 3.3% over the next three years. Despite the lower expected payout ratio, the company's ROE is not expected to change by much.
此外,Core Laboratories已经连续支付股息至少十年,这意味着即使没有盈利增长,公司管理层仍决心支付股息。现有的分析师预测表明,公司未来的支付比率预计将在未来三年降至3.3%。尽管预期支付比例较低,但公司的roe预计不会有太大变化。
Conclusion
结论
Overall, we feel that Core Laboratories certainly does have some positive factors to consider. Yet, the low earnings growth is a bit concerning, especially given that the company has a high rate of return and is reinvesting ma huge portion of its profits. By the looks of it, there could be some other factors, not necessarily in control of the business, that's preventing growth. With that said, we studied the latest analyst forecasts and found that while the company has shrunk its earnings in the past, analysts expect its earnings to grow in the future. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
总体而言,我们认为Core Laboratories确实有一些要考虑的积极因素。然而,低收益增长有些令人担忧,特别是考虑到公司具有高回报率,并重新投资了其利润的巨大部分。从表面上看,可能还有其他因素,不一定受业务控制,正在阻碍增长。话虽如此,我们研究了最新的分析师预测,并发现尽管公司过去曾缩小其收益,但分析师预计其收益未来将增长。要了解更多关于公司未来收益增长预测的信息,请查看有关公司分析师预测的免费报告。
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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
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。