Are Strong Financial Prospects The Force That Is Driving The Momentum In Fluor Corporation's NYSE:FLR) Stock?
Are Strong Financial Prospects The Force That Is Driving The Momentum In Fluor Corporation's NYSE:FLR) Stock?
Most readers would already be aware that Fluor's (NYSE:FLR) stock increased significantly by 20% over the past three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. Specifically, we decided to study Fluor's ROE in this article.
大多數讀者可能已經意識到，福陸的（紐交所：FLR）股票在過去三個月中大幅上漲了20%。由於市場通常對公司的長期基本面進行付費，我們決定研究公司的關鍵績效指標，以查看它們是否可能影響市場。具體而言，我們決定在本文中研究福陸的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或股東權益回報率是評估公司如何有效地從股東那裏獲得回報的有用工具。簡而言之，它用於評估公司相對於其權益資本的盈利能力。
How Do You Calculate Return On Equity?
怎樣計算ROE?
The formula for ROE is:
roe的公式是：
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 Fluor is:
因此，根據上述公式，福陸的ROE爲：
12% = US$249m ÷ US$2.0b (Based on the trailing twelve months to March 2024).
12% = 2.49億美元 ÷ 20億美元（截至2024年3月的過去12個月）。
The 'return' refers to a company's earnings over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.12 in profit.
“回報”指的是公司過去一年的收益。一種概念化的方法是，在每1美元股東資本的基礎上，公司獲得了0.12美元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
既然我們已經確定ROE是一種有效的利潤生成標準，用於評估公司未來的盈利能力，我們現在需要評估公司“保留”爲未來增長而重新投資的利潤多少，這使我們對公司的增長潛力有了一個了解。一般而言，在其他條件相等的情況下，ROE和利潤留存高的公司，增長率比沒有這些屬性的公司要高。
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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 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.
我們已經確定，roe是一種有效的盈利增長衡量標準，用於評估公司未來盈利的能力，根據公司選擇重新投資或“保留”其利潤的數量，我們可以評估公司未來的盈利能力。假設其他一切不變，roe和利潤保留越高，與沒有這些特徵的公司相比，公司的增長速度就越高。
A Side By Side comparison of Fluor's Earnings Growth And 12% ROE
福陸盈利增長和12%的ROE並列分析。
At first glance, Fluor seems to have a decent ROE. Even when compared to the industry average of 12% the company's ROE looks quite decent. This certainly adds some context to Fluor's exceptional 54% net income growth seen over the past five years. We reckon that there could also be other factors at play here. For instance, the company has a low payout ratio or is being managed efficiently.
乍一看，福陸似乎擁有一份不錯的ROE。即使與12%的行業平均水平相比，該公司的ROE看起來也相當不錯。這無疑爲福陸在過去五年中出色的54%淨利潤增長增加了一些背景。我們認爲這裏還可能有其他因素在起作用。例如，該公司的股息支付比率較低或被有效管理。
Next, on comparing with the industry net income growth, we found that Fluor's growth is quite high when compared to the industry average growth of 20% in the same period, which is great to see.
接下來，與行業淨利潤增長率進行比較後，我們發現福陸的增長率相當高，相比於同期行業平均增長率20%，這看起來很好。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. Is FLR fairly valued? This infographic on the company's intrinsic value has everything you need to know.
評估公司價值的基礎在很大程度上與其盈利增長相關。投資者知道市場是否已經確定了該公司預期的盈利增長（或下降）非常重要。這有助於他們判斷股票的未來是光明還是黑暗。FLR是否公平地定價？這份關於公司內在價值的信息圖展示了您需要了解的一切。
Is Fluor Efficiently Re-investing Its Profits?
福陸是否有效地再投資其利潤？
Given that Fluor doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
鑑於福陸不向股東支付任何定期股息，我們推斷該公司一直在將其所有利潤投資於擴展業務。
Summary
總的來說，我們對偉明環保的表現非常滿意。具體而言，我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然，這導致公司的收益大幅增長。但是，最新的行業分析師預測表明，該公司的收益預計將加速增長。
In total, we are pretty happy with Fluor'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. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. 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，我們對福陸的表現非常滿意。具體而言，我們喜歡該公司高收益率地再投資其利潤的巨大比例。這當然導致該公司的收益大幅增長。話雖如此，最新的行業分析師預測表明，該公司的盈利增長預計將放緩。這些分析師的預期是基於行業的廣泛預期，還是基於該公司的基本面？單擊此處，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？對內容感到擔憂？請直接與我們聯繫。或者，發送電子郵件至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？對內容感到擔憂？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。