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Declining Stock and Decent Financials: Is The Market Wrong About Littelfuse, Inc. (NASDAQ:LFUS)?

Declining Stock and Decent Financials: Is The Market Wrong About Littelfuse, Inc. (NASDAQ:LFUS)?

股价下跌与财务状况良好:市场对美国力特保险丝公司(纳斯达克:LFUS)的看法是否错误?
Simply Wall St ·  2024/12/16 19:17

It is hard to get excited after looking at Littelfuse's (NASDAQ:LFUS) recent performance, when its stock has declined 3.1% over the past three months. However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. Particularly, we will be paying attention to Littelfuse's ROE today.

在看完美国力特保险丝(纳斯达克:LFUS)最近的表现后,令人难以兴奋,因为其股票在过去三个月中下降了3.1%。然而,公司基本面看起来相当不错,长期财务通常与未来市场价格走势相一致。特别是,我们今天将关注美国力特保险丝的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,即净资产收益率,是评估公司如何有效地利用来自股东投资的工具。简单来说,它用于评估公司相对于其股本的盈利能力。

How Do You Calculate Return On Equity?

如何计算股本回报率?

The formula for ROE is:

roe的公式是:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

股东权益回报率 = 净利润(来自持续运营)÷ 股东权益

So, based on the above formula, the ROE for Littelfuse is:

因此,基于上述公式,美国力特保险丝的ROE为:

7.6% = US$195m ÷ US$2.6b (Based on the trailing twelve months to September 2024).

7.6% = 19500万美元 ÷ 26亿美金(基于截至2024年9月的过去十二个月)。

The 'return' is the yearly profit. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.08 in profit.

“回报”是指年利润。另一种理解是,对于每1美元的股权,公司能够获得0.08美元的利润。

Why Is ROE Important For Earnings Growth?

ROE为什么对净利润增长很重要?

Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. 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衡量公司创造利润的效率。我们现在需要评估公司再投资或"保留"多少利润以促进未来的增长,这将使我们对公司的增长潜力有一个基本的了解。一般来说,其他条件相同,具有高股本回报率和利润保留的公司,其增长率通常高于没有这些特征的公司。

Littelfuse's Earnings Growth And 7.6% ROE

美国力特保险丝的盈利增长和7.6%的ROE

When you first look at it, Littelfuse's ROE doesn't look that attractive. 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 10%. Littelfuse was still able to see a decent net income growth of 14% over the past five years. We reckon that there could be other factors at play here. Such as - high earnings retention or an efficient management in place.

乍一看,美国力特保险丝的ROE似乎并不那么吸引人。我们将公司的ROE与更广泛的行业进行了比较,失望地发现ROE低于行业平均水平10%。不过,美国力特保险丝在过去五年中仍然实现了14%的净利润增长。我们认为这里可能还有其他因素在起作用,比如高收益留存或有效的管理。

We then performed a comparison between Littelfuse's net income growth with the industry, which revealed that the company's growth is similar to the average industry growth of 14% in the same 5-year period.

然后我们将美国力特保险丝的净利润增长与行业进行比较,结果显示该公司的增长与同一五年期间行业的平均增长14%相似。

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NasdaqGS:LFUS Past Earnings Growth December 16th 2024
纳斯达克GS:LFUS过去的盈利增长 2024年12月16日

Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is LFUS fairly valued? This infographic on the company's intrinsic value has everything you need to know.

盈利增长是评估股票时一个重要的指标。投资者需要知道市场是否已经考虑了公司预期的盈利增长(或下降)。通过这样做,他们可以了解股票是走向晴朗的沃特世,还是面临泥泞的沃特世。美国力特保险丝是否被合理定价?关于公司内在价值的信息图表包含了您需要知道的一切。

Is Littelfuse Efficiently Re-investing Its Profits?

美国力特保险丝是否高效地再投资其利润?

In Littelfuse's case, its respectable earnings growth can probably be explained by its low three-year median payout ratio of 18% (or a retention ratio of 82%), which suggests that the company is investing most of its profits to grow its business.

就美国力特保险丝而言,其可观的盈利增长可能可以通过其三年期中位派息比率低至18%(或保留比率为82%)来解释,这表明公司正在将大部分利润用于扩大其业务。

Besides, Littelfuse has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Our latest analyst data shows that the future payout ratio of the company over the next three years is expected to be approximately 21%. Still, forecasts suggest that Littelfuse's future ROE will rise to 12% even though the the company's payout ratio is not expected to change by much.

此外,美国力特保险丝已经连续至少十年支付分红派息。这表明公司致力于与其股东分享利润。我们的最新分析师数据表明,公司在未来三年的派息比率预计约为21%。尽管公司的派息比率预计不会有太大变化,但预测表明美国力特保险丝未来的ROE将上升至12%。

Conclusion

结论

In total, it does look like Littelfuse has some positive aspects to its business. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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.

总体来看, 美国力特保险丝 的业务确实有一些积极的方面。凭借较高的再投资率,尽管ROE较低,该公司成功实现了可观的盈利增长。也就是说,查看当前分析师的预测,我们发现公司的盈利预计将会加速增长。要了解更多关于公司未来盈利增长的预测,请查看这份关于公司分析师预测的免费报告,以获取更多信息。

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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.

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这篇来自Simply Wall St的文章是一般性的。我们根据历史数据和分析师预测提供评论,采用无偏见的方法,我们的文章并不旨在提供财务建议。它不构成对任何股票的买入或卖出建议,也未考虑到您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意,我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St在提到的任何股票中均没有持仓。

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