Is Weakness In Freeport-McMoRan Inc. (NYSE:FCX) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
Is Weakness In Freeport-McMoRan Inc. (NYSE:FCX) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
With its stock down 10.0% over the past three months, it is easy to disregard Freeport-McMoRan (NYSE:FCX). However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Specifically, we decided to study Freeport-McMoRan's ROE in this article.
股价在过去三个月下跌了10%,很容易忽视Freeport-McMoRan(纽交所: 麦克莫兰铜金)。然而,股票价格通常是由公司长期的财务表现推动的,在这种情况下,情况看起来非常有前途。具体来说,我们决定在本文中研究Freeport-McMoRan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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股东权益回报率(roe)是一种关键指标,用于评估公司管理层如何有效利用公司资本。更简单地说,它衡量了公司相对股东权益的盈利能力。
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 Freeport-McMoRan is:
因此,根据上述公式,Freeport-McMoRan的roe是:
15% = US$4.4b ÷ US$29b (Based on the trailing twelve months to June 2024).
15% = US $ 44亿 ÷ US $ 290亿(基于截至2024年6月的过去十二个月)。
The 'return' is the profit over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.15 in profit.
“回报”是过去十二个月的利润,也可以这样认为,对于每一美元的股权,公司能够获得0.15美元的利润。
What Has ROE Got To Do With Earnings Growth?
roe与盈利增长有何关系?
So far, we've learned that ROE is a measure of a company's profitability. 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. 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,我们已经了解到ROE是衡量公司盈利能力的指标。根据公司重新投资或“保留”的利润数量及其有效性,我们能够估计公司盈利增长潜力。假设其他一切保持不变,ROE和利润保留率越高,相对于不一定拥有这些特征的公司而言,公司的增长率就越高。
Freeport-McMoRan's Earnings Growth And 15% ROE
Freeport-McMoRan的盈利增长和15%的roe
To start with, Freeport-McMoRan's ROE looks acceptable. Further, the company's ROE compares quite favorably to the industry average of 10%. Probably as a result of this, Freeport-McMoRan was able to see an impressive net income growth of 27% over the last five years. We reckon that there could also be other factors at play here. Such as - high earnings retention or an efficient management in place.
首先,Freeport-McMoRan的roe看起来是可以接受的。此外,公司的roe与行业平均水平相比非常优越。可能由于此原因,Freeport-McMoRan在过去五年中的净利润增长了27%。我们认为这里也可能有其他因素在起作用,例如高收益保留或有效的管理。
As a next step, we compared Freeport-McMoRan'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 25% in the same period.
接下来,我们将Freeport-McMoRan的净利润增长与行业进行了比较,并发现该公司的增长数据与同期行业平均增长率25%相近。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240801/0-52b705cfd7686e44692201c9457fcccc-0-235fc64a29a93e48ff008d2fe5f9a57c.png/big)
Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Is Freeport-McMoRan fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增长是股票估值的一个重要因素。投资者应尽力确定预期的盈利增长或下降是否定价。然后,这有助于他们确定股票是处于光明未来还是黯淡未来的状态。与其他公司相比,Freeport-McMoRan的估值是否公平?这3个估值指标可能会帮助您做出决定。
Is Freeport-McMoRan Using Its Retained Earnings Effectively?
Freeport-McMoRan是否有效地利用其保留收益?
Freeport-McMoRan has a really low three-year median payout ratio of 25%, meaning that it has the remaining 75% left over to reinvest into its business. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.
Freeport-McMoRan具有非常低的三年中位数派息比率,为25%,这意味着它有剩余的75%可以重新投资到业务中。这表明管理层正在重新投资大多数利润,正如公司所见的增长一样。
Additionally, Freeport-McMoRan 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. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 24% of its profits over the next three years. As a result, Freeport-McMoRan's ROE is not expected to change by much either, which we inferred from the analyst estimate of 16% for future ROE.
此外,Freeport-McMoRan已经至少连续十年支付股息,这意味着该公司非常注重与股东分享其利润。经研究,我们发现公司有望在未来三年继续支付其利润的约24%。因此,Freeport-McMoRan的roe不会有太大变化,我们从未来roe的分析师预测中推断出16%的数值。
Conclusion
结论
Overall, we are quite pleased with Freeport-McMoRan's performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总体而言,我们对Freeport-McMoRan的表现非常满意。特别是,看到公司大量投资于业务中以及高回报率,这导致其利润大幅增长,这是非常好的。虽然如此,最新的行业分析师预测显示公司的盈利增长有望放缓。请查看此可视化分析师预测,以了解有关该公司的最新分析师预测。
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。
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。