Has Vishay Precision Group, Inc.'s (NYSE:VPG) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
Has Vishay Precision Group, Inc.'s (NYSE:VPG) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
Most readers would already be aware that Vishay Precision Group's (NYSE:VPG) stock increased significantly by 14% over the past week. As most would know, fundamentals are what usually guide market price movements over the long-term, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. Particularly, we will be paying attention to Vishay Precision Group's ROE today.
大多數讀者可能已經知道,Vishay精密集團(紐交所:VPG)上週股票大漲14%。正如大多數人所知,基本面通常是長期股價波動的指導,因此我們決定今天查看該公司的關鍵財務指標,以確定它們在最近的股價波動中是否起到了任何作用。特別是,我們將關注Vishay精密集團的roe。
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roe是一項關鍵指標,用於評估公司管理層使用公司資本的效率。換句話說,它揭示了公司將股東的投資轉化爲利潤的成功。
How Is ROE Calculated?
淨資產收益率怎麼計算?
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算:
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 Vishay Precision Group is:
因此,根據上述公式,Vishay精密集團的roe爲:
7.6% = US$25m ÷ US$328m (Based on the trailing twelve months to March 2024).
7.6% = 2500萬美元 ÷ 32800萬美元(根據過去12個月至2024年3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 $0.08 in profit.
“回報”是指公司過去一年的收益。一個概念化的方法是,對於1美元的股東資本,公司賺了0.08美元的利潤。
What Has ROE Got To Do With Earnings Growth?
roe與盈利增長有何關係?
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roe衡量公司生成利潤的效率。根據公司再投資或“保留”的利潤比例及其有效性,我們能夠評估公司的收益增長潛力。在其他一切保持不變的情況下,roe和利潤保留率越高,公司的增長率就越高,相比於那些不一定擁有這些特性的公司。
A Side By Side comparison of Vishay Precision Group's Earnings Growth And 7.6% ROE
vishay精密集團收益增長和7.6%ROE的並列比較
When you first look at it, Vishay Precision Group's ROE doesn't look that attractive. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 9.6% either. Although, we can see that Vishay Precision Group saw a modest net income growth of 12% over the past five years. So, the growth in the company's earnings could probably have been caused by other variables. Such as - high earnings retention or an efficient management in place.
從表面上看vishay精密集團的ROE並不那麼吸引人。進一步的研究表明,該公司的ROE也不如行業平均水平(9.6%)。但是,我們可以看到,過去五年的淨利潤增長略有增長12%。因此,公司收益的增長可能是由其他變量引起的,比如高收益保留或高效管理。
Next, on comparing with the industry net income growth, we found that Vishay Precision Group's reported growth was lower than the industry growth of 15% over the last few years, which is not something we like to see.
接下來,通過比較行業的淨利潤增長,我們發現vishay精密集團的淨利潤增長低於行業的15%。這並不是我們想看到的。
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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. This then helps them determine if the stock is placed for a bright or bleak future. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Vishay Precision Group is trading on a high P/E or a low P/E, relative to its industry.
在估值股票時,收益增長是一個重要的指標。投資者應該嘗試確定預期的收益增長或下降(無論哪種情況),是否已經被定價。這可以幫助他們判斷股票的未來是光明還是黯淡。一個好的指標是P/E比率,該比率確定市場願意爲一隻股票支付多少錢,基於它的盈利前景。因此,您可能需要檢查vishay精密集團相對於行業是否處於高P/E或低P/E的狀態。
Is Vishay Precision Group Making Efficient Use Of Its Profits?
Vishay精密集團是否高效利用其利潤?
Vishay Precision Group doesn't pay any regular dividends, meaning that all of its profits are being reinvested in the business, which explains the fair bit of earnings growth the company has seen.
vishay精密集團沒有支付常規股息,這意味着公司所有的利潤都被再投資到業務中,這也解釋了該公司看到相當大的盈利增長。
Conclusion
結論
Overall, we feel that Vishay Precision Group certainly does have some positive factors to consider. Specifically, its fairly high earnings growth number, which no doubt was backed by the company's high earnings retention. Still, the low ROE means that all that reinvestment is not reaping a lot of benefit to the investors. 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,我們認爲vishay精密集團確實有一些積極的因素需要考慮。尤其是它相對較高的收益增長率,這毫無疑問是由於公司高收益保留的支撐。不過,低ROE意味着所有的再投資並不能給投資者帶來太多的好處。儘管如此,在研究當前的分析師預測時,我們擔心看到儘管該公司過去收益增長,但分析師們預計其未來的收益將會下降。如欲了解更多有關該公司收益增長預測的信息,請查看有關該公司的分析師預測的免費報告。
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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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@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
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。