Has IMAX Corporation's (NYSE:IMAX) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
Has IMAX Corporation's (NYSE:IMAX) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
IMAX's (NYSE:IMAX) stock is up by a considerable 22% over the past month. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. Specifically, we decided to study IMAX's ROE in this article.
在过去的一个月里,IMAX(纽交所:IMAX)的股价上涨了相当可观的22%。我们想知道公司的财务状况在这种价格变化中起了何种作用,因为公司的长期基本面通常决定市场结果。具体而言,我们决定在本文中研究IMAX的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股东权益回报率(ROE)是检验公司增加其价值和管理投资者资金有效性的测试。简而言之,ROE显示每个美元的利润与其股东的投资有关。
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 IMAX is:
因此,根据上述公式,IMAX的roe为:
8.4% = US$29m ÷ US$343m (Based on the trailing twelve months to June 2024).
8.4% = US$2900万 ÷ US$34300万(截至2024年6月的过去十二个月)。
The 'return' refers to a company's earnings over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.08 in profit.
‘回报’是指公司在过去一年的利润。这意味着对于每1美元的股东权益,公司创造了0.08美元的利润。
What Has ROE Got To Do With Earnings Growth?
roe与盈利增长有何关系?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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 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作为评估公司未来收益的有效指标。现在我们需要评估公司为未来增长所保留的利润量,从而给我们一个关于公司增长潜力的想法。假设其他条件都相同,既具有较高ROE又具有较高利润保留的公司通常是增长率更高的公司,相比之下没有这些特点的公司会更低。
IMAX's Earnings Growth And 8.4% ROE
IMAX的盈利增长和8.4%的roe
At first glance, IMAX's ROE doesn't look very promising. We then compared the company's ROE to the broader industry and were disappointed to see that the ROE is lower than the industry average of 13%. However, we we're pleasantly surprised to see that IMAX grew its net income at a significant rate of 22% in the last five years. So, there might be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.
乍一看,IMAX的roe似乎不是很有前途。然后我们将公司的roe与更广泛的行业进行了比较,看到其roe低于行业平均值13%。然而,我们惊喜地发现IMAX在过去五年中以显着的22%的速度增长了净利润。因此,可能会有其他方面对公司的盈利增长产生积极影响。例如,公司具有低的派息比率或被有效地管理。
We then performed a comparison between IMAX's net income growth with the industry, which revealed that the company's growth is similar to the average industry growth of 24% in the same 5-year period.
然后我们对IMAX的净收入增长与行业进行了比较,发现公司的增长与同一5年期间的平均行业增长24%相似。
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Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. Is IMAX 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。接下来投资者需要判断的是,预期的盈利增长,或者缺乏盈利增长,是否已经体现在股价中。然后帮助他们判断股票是面临光明还是黯淡的未来。IMAX相对于其他公司的估值是否公允?这3个估值指标可能会帮助您做出决定。
Is IMAX Efficiently Re-investing Its Profits?
IMAX是否高效地再投资其利润?
IMAX doesn't pay any regular dividends to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
IMAX不向股东支付任何定期股息,这意味着公司一直将其所有利润再投资于业务中。这很可能是上述高盈利增长率的原因。
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。
Overall, we feel that IMAX certainly does have some positive factors to consider. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high earnings growth. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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,我们认为IMAX确实有一些值得考虑的积极因素。尽管其回报率较低,但其高比例的利润再投资业务,无疑促进了其高盈利增长。话虽如此,看看当前的分析师预期,我们发现公司的收益预计将获得动力。这些分析师预期是基于广泛的行业预期,还是基于公司的基本面?单击此处访问我们的分析师预测页面。
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