Nordson Corporation's (NASDAQ:NDSN) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Nordson Corporation's (NASDAQ:NDSN) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Nordson (NASDAQ:NDSN) has had a rough three months with its share price down 16%. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. In this article, we decided to focus on Nordson's ROE.
納斯達克(NDSN)的股價在過去三個月中下跌了16%。 然而,股價通常受到公司長期財務表現的驅動,而在這種情況下,前景非常有希望。 本文我們將重點關注Nordson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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
roe,即淨資產收益率,是一種評估公司如何有效地從股東手中獲取投資回報的有用工具。換句話說,它是一種盈利能力比率,衡量公司股東提供的資本的回報率。
How Is ROE Calculated?
淨資產收益率怎麼計算?
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 Nordson is:
因此,基於以上公式,Nordson的ROE爲:
17% = US$483m ÷ US$2.8b (Based on the trailing twelve months to April 2024).
17%= 483美元的淨利潤÷ 28億美元(基於截至2024年4月的過去十二個月)。
The 'return' is the yearly profit. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.17 in profit.
“回報率”是年利潤。 一個概念化它的方法是,對於每1美元股東的資本,公司的利潤爲0.17美元。
Why Is ROE Important For Earnings Growth?
ROE對於盈利增長的重要性是什麼?
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。
Nordson's Earnings Growth And 17% ROE
Nordson的盈利增長和17%的ROE
At first glance, Nordson seems to have a decent ROE. Especially when compared to the industry average of 14% the company's ROE looks pretty impressive. Probably as a result of this, Nordson was able to see a decent growth of 12% over the last five years.
乍一看,Nordson的ROE似乎不錯。 特別是與14%的行業平均水平相比,公司的ROE看起來非常令人印象深刻。 也許作爲此結果的一部分,Nordson在過去五年中能夠看到不錯的12%增長。
We then compared Nordson'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 8.9% in the same 5-year period.
然後,我們將Nordson的淨收入增長與行業進行了比較,很高興地看到公司的增長數字在同一5年期內與行業相比更高,行業增長率爲8.9%。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240628/0-539a6d5fa8333f18f39d500d301715a6-0-4ee27fa201f44af93161ad75759db69d.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. What is NDSN worth today? The intrinsic value infographic in our free research report helps visualize whether NDSN is currently mispriced by the market.
盈利增長是評估股票價值時需要考慮的重要指標。 投資者應該嘗試確定預期的盈利增長或下降(無論哪種情況),是否定價。這樣做,他們將了解該股票是否進入明朗的非常規水域,或者是否等待泥濘的水域。 NDSN今天的價值是多少?我們免費研究報告中的內在價值信息圖表有助於可視化NDSN是否被市場當前錯誤定價。
Is Nordson Making Efficient Use Of Its Profits?
Nordson是否有效利用其利潤?
With a three-year median payout ratio of 27% (implying that the company retains 73% of its profits), it seems that Nordson is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.
通過三年的中位數支付比率爲27%(表明公司保留了73%的利潤),看起來Nordson正在以高回報的方式有效地再投資,從而實現了其盈利的可觀增長,並支付了可以很好覆蓋的股息。
Moreover, Nordson is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Our latest analyst data shows that the future payout ratio of the company over the next three years is expected to be approximately 26%. Therefore, the company's future ROE is also not expected to change by much with analysts predicting an ROE of 18%.
此外,Nordson決心繼續與股東分享其利潤,這可以從其至少十年支付股息的悠久歷史中推斷出來。我們最新的分析師數據顯示,公司未來三年的支付比率預計約爲26%。因此,公司未來的ROE也不會發生太大變化,分析師預測ROE爲18%。
Conclusion
結論
In total, we are pretty happy with Nordson's performance. 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. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. 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.
總的來說,我們對Nordson的表現非常滿意。特別是,我們喜歡公司以高回報率將其利潤的大部分再投資,這導致了公司收益的巨大增長。 最新的行業分析師預測顯示,公司有望保持其當前的增長率。這些分析師的預期是基於行業的廣泛預期,還是基於公司的基本面? 單擊此處以進入我們的分析師預測頁面。
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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.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或電郵 editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者,也可以發送電子郵件至editorial-team@simplywallst.com