Are Strong Financial Prospects The Force That Is Driving The Momentum In Fluor Corporation's NYSE:FLR) Stock?
Are Strong Financial Prospects The Force That Is Driving The Momentum In Fluor Corporation's NYSE:FLR) Stock?
Most readers would already be aware that Fluor's (NYSE:FLR) stock increased significantly by 20% over the past three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. Specifically, we decided to study Fluor's ROE in this article.
大多数读者可能已经意识到，福陆的（纽交所：FLR）股票在过去三个月中大幅上涨了20%。由于市场通常对公司的长期基本面进行付费，我们决定研究公司的关键绩效指标，以查看它们是否可能影响市场。具体而言，我们决定在本文中研究福陆的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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
roe或股东权益回报率是评估公司如何有效地从股东那里获得回报的有用工具。简而言之，它用于评估公司相对于其权益资本的盈利能力。
How Do You Calculate Return On Equity?
怎样计算ROE?
The formula for ROE is:
roe的公式是：
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 Fluor is:
因此，根据上述公式，福陆的ROE为：
12% = US$249m ÷ US$2.0b (Based on the trailing twelve months to March 2024).
12% = 2.49亿美元 ÷ 20亿美元（截至2024年3月的过去12个月）。
The 'return' refers to a company's earnings over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.12 in profit.
“回报”指的是公司过去一年的收益。一种概念化的方法是，在每1美元股东资本的基础上，公司获得了0.12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。
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 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.
我们已经确定，roe是一种有效的盈利增长衡量标准，用于评估公司未来盈利的能力，根据公司选择重新投资或“保留”其利润的数量，我们可以评估公司未来的盈利能力。假设其他一切不变，roe和利润保留越高，与没有这些特征的公司相比，公司的增长速度就越高。
A Side By Side comparison of Fluor's Earnings Growth And 12% ROE
福陆盈利增长和12%的ROE并列分析。
At first glance, Fluor seems to have a decent ROE. Even when compared to the industry average of 12% the company's ROE looks quite decent. This certainly adds some context to Fluor's exceptional 54% 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.
乍一看，福陆似乎拥有一份不错的ROE。即使与12%的行业平均水平相比，该公司的ROE看起来也相当不错。这无疑为福陆在过去五年中出色的54%净利润增长增加了一些背景。我们认为这里还可能有其他因素在起作用。例如，该公司的股息支付比率较低或被有效管理。
Next, on comparing with the industry net income growth, we found that Fluor's growth is quite high when compared to the industry average growth of 20% in the same period, which is great to see.
接下来，与行业净利润增长率进行比较后，我们发现福陆的增长率相当高，相比于同期行业平均增长率20%，这看起来很好。
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. Is FLR fairly valued? This infographic on the company's intrinsic value has everything you need to know.
评估公司价值的基础在很大程度上与其盈利增长相关。投资者知道市场是否已经确定了该公司预期的盈利增长（或下降）非常重要。这有助于他们判断股票的未来是光明还是黑暗。FLR是否公平地定价？这份关于公司内在价值的信息图展示了您需要了解的一切。
Is Fluor Efficiently Re-investing Its Profits?
福陆是否有效地再投资其利润？
Given that Fluor doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
鉴于福陆不向股东支付任何定期股息，我们推断该公司一直在将其所有利润投资于扩展业务。
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, we are pretty happy with Fluor'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. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. 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，我们对福陆的表现非常满意。具体而言，我们喜欢该公司高收益率地再投资其利润的巨大比例。这当然导致该公司的收益大幅增长。话虽如此，最新的行业分析师预测表明，该公司的盈利增长预计将放缓。这些分析师的预期是基于行业的广泛预期，还是基于该公司的基本面？单击此处，进入我们的分析师预测页面。
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Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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