The Mosaic Company's (NYSE:MOS) Stock Has Seen Strong Momentum: Does That Call For Deeper Study Of Its Financial Prospects?
The Mosaic Company's (NYSE:MOS) Stock Has Seen Strong Momentum: Does That Call For Deeper Study Of Its Financial Prospects?
Mosaic (NYSE:MOS) has had a great run on the share market with its stock up by a significant 5.4% over the last month. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to study its financial indicators more closely to see if they had a hand to play in the recent price move. In this article, we decided to focus on Mosaic's ROE.
美國美盛(紐約證券交易所代碼:MOS)在股市上表現良好,其股票在上個月大幅上漲了5.4%。鑑於股票價格通常與公司的長期財務表現一致,我們決定更仔細地研究其財務指標,看看它們在近期的價格走勢中是否有機會發揮作用。在本文中,我們決定重點介紹馬賽克的投資回報率。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回報率或投資回報率是用於評估公司管理層利用公司資本效率的關鍵指標。換句話說,它揭示了公司成功地將股東投資轉化爲利潤。
How To Calculate Return On Equity?
如何計算股本回報率?
The formula for return on equity is:
股本回報率的公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤(來自持續經營業務)÷ 股東權益
So, based on the above formula, the ROE for Mosaic is:
因此,根據上述公式,美國美盛的投資回報率爲:
9.7% = US$1.2b ÷ US$12b (Based on the trailing twelve months to December 2023).
9.7% = 12億美元 ÷ 120億美元(基於截至2023年12月的過去十二個月)。
The 'return' is the amount earned after tax 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 $0.10 in profit.
“回報” 是過去十二個月的稅後收入。另一種思考方式是,每持有價值1美元的股權,該公司就能獲得0.10美元的利潤。
What Has ROE Got To Do With Earnings Growth?
投資回報率與收益增長有什麼關係?
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. 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.
到目前爲止,我們已經了解到,投資回報率衡量的是公司創造利潤的效率。然後,我們能夠評估公司的收益增長潛力,具體取決於公司對這些利潤進行再投資或 “保留” 了多少及其有效性。假設其他一切保持不變,那麼與不一定具有這些特徵的公司相比,投資回報率和利潤保留率越高,公司的增長率就越高。
Mosaic's Earnings Growth And 9.7% ROE
Mosaic的收益增長和9.7%的投資回報率
At first glance, Mosaic'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%. In spite of this, Mosaic was able to grow its net income considerably, at a rate of 44% 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,Mosaic的投資回報率看起來並不十分樂觀。然後,我們將該公司的投資回報率與整個行業進行了比較,但對投資回報率低於行業平均水平的13%感到失望。儘管如此,美國美盛仍得以大幅增長其淨收入,在過去五年中增長了44%。因此,可能還有其他方面對公司的收益增長產生積極影響。例如,該公司的派息率很低或管理得很高效。
We then compared Mosaic'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 14% in the same 5-year period.
然後,我們將Mosaic的淨收入增長與該行業進行了比較,我們很高興地看到,與同期同期增長率爲14%的行業相比,該公司的增長數字更高。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240410/0-c389fe3ed53c2633718ca4f47fc1b393-0-1bc0b532972658165f5623d43e2444a1.png/big)
Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Has the market priced in the future outlook for MOS? You can find out in our latest intrinsic value infographic research report.
收益增長是對股票進行估值時要考慮的重要指標。無論如何,投資者應設法確定預期的收益增長或下降是否已計入其中。通過這樣做,他們將知道股票是走向清澈的藍色海水還是沼澤水域在等着呢。市場對MOS的未來展望進行了定價嗎?你可以在我們最新的內在價值信息圖研究報告中找到答案。
Is Mosaic Using Its Retained Earnings Effectively?
美國美盛是否有效地使用了其留存收益?
Mosaic has a really low three-year median payout ratio of 6.4%, meaning that it has the remaining 94% 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.
美國美盛的三年派息率中位數非常低,爲6.4%,這意味着其餘的94%可以再投資於其業務。這表明管理層正在將大部分利潤再投資於業務增長,公司的增長就證明了這一點。
Additionally, Mosaic 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's future payout ratio is expected to rise to 28% over the next three years. Accordingly, the expected increase in the payout ratio explains the expected decline in the company's ROE to 6.4%, over the same period.
此外,美國美盛已在至少十年內派發了股息,這意味着該公司非常認真地與股東分享利潤。在研究了分析師的最新共識數據後,我們發現該公司的未來派息率預計將在未來三年內升至28%。因此,派息率的預期增長解釋了該公司同期的投資回報率預計將下降至6.4%。
Summary
摘要
In total, it does look like Mosaic has some positive aspects to its business. 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, on studying current analyst estimates, we were concerned to see that while the company has grown its earnings in the past, analysts expect its earnings to shrink in the future. 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.
總的來說,看來美國美盛的業務確實有一些積極的方面。儘管回報率很低,但該公司將其利潤的很大一部分再投資於業務這一事實無疑促進了其高收益增長。話雖如此,在研究分析師目前的估計時,我們擔心地看到,儘管該公司過去的收益有所增長,但分析師預計其未來收益將萎縮。要了解有關公司未來收益增長預測的更多信息,請查看這份關於分析師預測的免費報告,以了解更多信息。
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。