Will Weakness in Camtek Ltd.'s (NASDAQ:CAMT) Stock Prove Temporary Given Strong Fundamentals?
Will Weakness in Camtek Ltd.'s (NASDAQ:CAMT) Stock Prove Temporary Given Strong Fundamentals?
It is hard to get excited after looking at Camtek's (NASDAQ:CAMT) recent performance, when its stock has declined 28% over the past month. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Specifically, we decided to study Camtek's ROE in this article.
康特科技 (纳斯达克:CAMT) 最近的表现低迷,股价在过去一个月内下跌了28%。然而,对其良好的财务状况进行更详细的分析,可能会让你重新考虑。鉴于基本面通常驱动着长期市场走势,这家公司值得关注。本文中,我们具体研究了康特科技的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 Camtek is:
因此,根据以上公式,康特科技的roe为:
20% = US$96m ÷ US$475m (Based on the trailing twelve months to June 2024).
20% = 9600万美元 ÷ 4,7500万美元(基于截至2024年6月的过去12个月)。
The 'return' is the profit over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.20 in profit.
“回报”是过去12个月的利润。这意味着,对于每1美元的股东权益,该公司生成了0.20美元的利润。
What Is The Relationship Between ROE And Earnings Growth?
ROE与盈利增长之间的关系是什么?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
到目前为止,我们已经了解到ROE衡量了公司有效地利用其利润的能力。根据公司再投资或“保留”的利润量以及公司再投资利润的效果,我们就能评估公司的盈利增长潜力。一般来说,其他条件相同,ROE高和盈利保留公司的成长率比没有这些属性的公司更高。
Camtek's Earnings Growth And 20% ROE
康特科技的利润增长和20%的roe
To begin with, Camtek seems to have a respectable ROE. Further, the company's ROE compares quite favorably to the industry average of 14%. This certainly adds some context to Camtek's exceptional 32% net income growth seen over the past five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.
首先,康特科技似乎具有可观的roe。此外,公司的roe相当优于行业平均水平14%。这无疑为过去五年中康特科技32%的净利润增长添加了一些背景。我们认为,还可能存在其他正影响公司收益增长的因素,例如高利润保留或高效的管理。
Next, on comparing Camtek's net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 29% over the last few years.
接下来,通过将康特科技的净利润增长与行业进行比较,我们发现公司报告的增长与行业平均增长率29%相似。
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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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Camtek fairly valued compared to other companies? These 3 valuation measures might help you decide.
附加价值的基础很大程度上取决于公司的盈利增长。接下来,投资者需要确定的是预期的收益增长已经(或未)反映在股价中。通过这样做,他们将了解股票是否处于明朗的发展前景或前景悲观的局面。与其他公司相比,康特科技是否定价合理?这3个估值指标可能会帮助您做出决定。
Is Camtek Using Its Retained Earnings Effectively?
康特科技是否有效利用其保留收益?
Conclusion
结论
On the whole, we feel that Camtek's performance has been quite good. 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. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. 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,我们认为康特科技的表现相当不错。具体而言,我们喜欢公司以高回报率重新投资其巨大利润所带来的收益增长。当然,这导致公司的收益大幅增长。尽管如此,根据目前的分析师预测,公司的收益增长预计会放缓。这些分析师的预测是基于行业的整体预期还是公司的基本面?请点击此处,查看我们的分析师预测页。
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