Do Fundamentals Have Any Role To Play In Driving Tidewater Inc.'s (NYSE:TDW) Stock Up Recently?
Do Fundamentals Have Any Role To Play In Driving Tidewater Inc.'s (NYSE:TDW) Stock Up Recently?
The formula for return on equity is: Most readers would already know that Tidewater's (NYSE:TDW) stock increased by 8.9% over the past three months. 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. Particularly, we will be paying attention to Tidewater's ROE today.
大多數讀者應該已經知道，Tidewater(紐約證券交易所股票代碼：TDW)的股票在過去三個月裡上漲了8.9%。我們想知道，由於一家公司的長期基本面通常決定著市場結果，該公司的財務狀況是否以及在價格變化中扮演了什麼角色。特別是，今天我們將關注Tidewater的淨資產收益率。
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.
股本回報率(ROE)是對一家公司增值和管理投資者資金的效率的測試。簡而言之，淨資產收益率顯示了每一美元相對於其股東投資產生的利潤。
View our latest analysis for Tidewater
查看我們對潮水的最新分析
How Do You Calculate Return On Equity?
你如何計算股本回報率？
The formula for return on equity is:
這個股本回報率公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率=(持續經營的)淨利潤？股東權益
So, based on the above formula, the ROE for Tidewater is:
因此，根據上述公式，潮水的淨資產收益率為：
5.4% = US$48m ÷ US$893m (Based on the trailing twelve months to June 2023).
5.4%=4800萬美元×8.93億美元(基於截至2023年6月的12個月)。
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 $0.05 in profit.
“收益”是過去12個月的利潤。另一種想法是，每價值1美元的股本，公司就能夠賺取0.05美元的利潤。
What Has ROE Got To Do With Earnings Growth?
淨資產收益率與盈利增長有什麼關係？
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 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.
到目前為止，我們瞭解到淨資產收益率是衡量一家公司盈利能力的指標。根據公司將這些利潤再投資或“保留”多少，以及這樣做的效率如何，我們就能夠評估一家公司的收益增長潛力。假設其他條件相同，與沒有相同特徵的公司相比，擁有更高股本回報率和更高利潤保留率的公司通常會有更高的增長率。
Tidewater's Earnings Growth And 5.4% ROE
Tidewater的收益增長和5.4%的淨資產收益率
When you first look at it, Tidewater'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 14%. Despite this, surprisingly, Tidewater saw an exceptional 46% net income growth over the past five years. We reckon that there could be other factors at play here. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
當你第一次看到它時，Tidewater的淨資產收益率(ROE)看起來並不那麼吸引人。然後，我們將該公司的淨資產收益率(ROE)與更廣泛的行業進行了比較，發現淨資產收益率低於行業平均水準14%，這讓我們感到失望。儘管如此，令人驚訝的是，Tidewater在過去五年中的淨收入增長了46%。我們認為，可能還有其他因素在起作用。例如，公司管理層可能做出了一些良好的戰略決策，或者公司的派息率較低。
We then compared Tidewater's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 25% in the same 5-year period.
然後，我們將Tidewater的淨收入增長與行業進行了比較，我們很高興地看到，與行業相比，該公司的增長數位更高，後者在同一5年期間的增長率為25%。
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. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Tidewater's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
賦予一家公司價值的基礎在很大程度上與其盈利增長掛鉤。投資者下一步需要確定的是，預期的收益增長是否已經計入了股價。這樣做將有助於他們確定該股的未來看起來是光明的還是不祥的。如果你想知道Tidewater的估值，看看這個衡量其本益比的指標，與其行業相比。
Is Tidewater Using Its Retained Earnings Effectively?
Tidewater是否有效地利用了其留存收益？
Tidewater doesn't pay any dividend currently which essentially means that it has been reinvesting all of its profits into the business. This definitely contributes to the high earnings growth number that we discussed above.
Tidewater目前不支付任何股息，這實質上意味著它一直在將所有利潤再投資於這項業務。這無疑是我們上面討論的高收益增長數位的原因。
Conclusion
結論
On the whole, we do feel that Tidewater has some positive attributes. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總體而言，我們確實覺得潮水有一些積極的屬性。憑藉高再投資率，儘管淨資產收益率較低，該公司的收益實現了相當大的增長。既然如此，最新的分析師預測顯示，該公司的收益將繼續增長。要了解更多分析師對該公司的最新預測，請查看分析師對該公司預測的可視化。
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本文由Simply Wall St.撰寫，具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論，我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議，也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意，我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.
