Civitas Resources, Inc.'s (NYSE:CIVI) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
Civitas Resources, Inc.'s (NYSE:CIVI) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
It is hard to get excited after looking at Civitas Resources' (NYSE:CIVI) recent performance, when its stock has declined 10.0% over the past month. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. Specifically, we decided to study Civitas Resources' ROE in this article.
在看到 Civitas Resources (NYSE:CIVI) 最近一個月的股價下跌10.0% 後,可能很難激發興趣。但是,如果您仔細觀察,您可能會發現其強健的財務狀況意味着該股票在長期內可能會增值,因爲市場通常會獎勵具有良好財務狀況的公司。本文特別研究了 Civitas Resources 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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
roe指股東權益回報率,是一種有用的工具,用於評估公司如何有效地從股東獲得的投資中產生回報。簡單來說,這衡量了一家公司相對於股東權益的盈利能力。
How To Calculate Return On Equity?
如何計算股東權益報酬率?
ROE can be calculated by using the formula:
淨資產收益率可以使用以下公式進行計算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤(從持續經營中獲得)÷ 股東權益
So, based on the above formula, the ROE for Civitas Resources is:
因此,根據以上公式,Civitas Resources 的 ROE 爲:
11% = US$758m ÷ US$6.6b (Based on the trailing twelve months to March 2024).
11% = 7.58億美元 ÷ 66億美元(基於最近12個月至2024年3月)。
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.11.
“回報率”是稅後收益,指過去12個月的收益。因此,這意味着對於股東每投資1美元,該公司就能賺取0.11美元的利潤。
What Has ROE Got To Do With Earnings Growth?
ROE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. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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.
到目前爲止,我們已經了解到roe是衡量公司盈利能力的一種指標。根據公司選擇重新投資或'保留'多少利潤,我們就能夠評估公司未來生成利潤的能力。假設其他條件相同,那些具有更高股本回報率和更高利潤留存的公司通常比沒有這些特徵的公司有更高的增長率。
Civitas Resources' Earnings Growth And 11% ROE
Civitas Resources 的盈利增長率和11%的 ROE
To start with, Civitas Resources' ROE looks acceptable. Yet, the fact that the company's ROE is lower than the industry average of 18% does temper our expectations. However, we are pleased to see the impressive 50% net income growth reported by Civitas Resources over the past five years. We believe that there might be other aspects that are positively influencing the company's earnings growth. 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. Bear in mind, the company does have a respectable ROE. It is just that the industry ROE is higher. So this certainly also provides some context to the high earnings growth seen by the company.
首先,Civitas Resources 的 ROE 看起來是可以接受的。然而,公司的 ROE 低於行業平均水平18%,這確實降低了我們的預期。但是,另一方面,我們很高興看到 Civitas Resources 在過去五年中報告了驚人的50%淨利潤增長。我們相信,可能有其他方面對公司的盈利增長產生了正面影響。例如,公司的管理層可能做出了一些很好的戰略決策,或者公司的派息比率很低。需要注意的是,公司的 ROE 可以承擔。只是行業 ROE 更高。因此,這確實爲公司所看到的高收益增長提供了一些背景。
Next, on comparing with the industry net income growth, we found that Civitas Resources' growth is quite high when compared to the industry average growth of 38% in the same period, which is great to see.
其次,在與行業淨利潤增長進行比較時,我們發現 Civitas Resources 的淨利潤增長相當高,而行業同期平均增長爲38%,這是非常好的。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240607/0-14b88b400c20730b46f6f4044be64f72-0-370d5d5428481e0e7fe8356af54d521c.png/big)
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Is Civitas Resources fairly valued compared to other companies? These 3 valuation measures might help you decide.
評估公司的價值很大程度上取決於其盈利增長。投資者應該嘗試確定預期的盈利增長或下降是否已經反映在股價中。這有助於他們確定股票是前途光明還是黯淡無光。Civitas Resources 的估值是否合理與其他公司相比?這三個估值指標可能會幫助您做出決策。
Is Civitas Resources Efficiently Re-investing Its Profits?
Civitas Resources 是否有效地再投資其利潤?
Civitas Resources has a three-year median payout ratio of 44% (where it is retaining 56% of its income) which is not too low or not too high. This suggests that its dividend is well covered, and given the high growth we discussed above, it looks like Civitas Resources is reinvesting its earnings efficiently.
Civitas Resources 的三年中位數派息比率爲44%(保留56%的收入),既不太低也不太高。這表明其股息得到很好的覆蓋,並且考慮到我們上面所討論的高增長,看起來 Civitas Resources 正在有效地再投資其收益。
Additionally, Civitas Resources has paid dividends over a period of three years which means that the company is pretty serious about sharing its profits with shareholders.
此外,Civitas Resources 已經連續三年支付股息,這意味着該公司非常重視向股東分紅。
Conclusion
結論
In total, we are pretty happy with Civitas Resources' performance. Particularly, we like that the company is reinvesting heavily into its business at a moderate rate of return. Unsurprisingly, this has led to an impressive earnings growth. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. 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,我們對 Civitas Resources 的表現感到非常滿意。特別是,我們喜歡公司以適度的回報率大量再投資其業務。不出所料,這導致了令人印象深刻的盈利增長。不過,最新的分析師預測研究表明,該公司未來的盈利增長將會放緩。要了解有關該公司未來盈利增長預測的更多信息,請查看這篇免費的分析師預測報告。
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