Huntington Ingalls Industries, Inc.'s (NYSE:HII) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum?
Huntington Ingalls Industries, Inc.'s (NYSE:HII) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum?
Huntington Ingalls Industries' (NYSE:HII) stock is up by a considerable 8.3% over the past 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 Huntington Ingalls Industries' ROE.
亨廷頓英格爾斯工業(NYSE:hii)股價在過去一個月中上漲了8.3%。考慮到股票價格通常與公司的長期財務表現相關聯,因此我們決定更加密切地研究其財務指標,以確定它們是否對最近的價格走勢有影響。在本文中,我們決定專注於亨廷頓英格爾斯工業的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
淨資產收益率(ROE)是衡量公司增值和管理投資者資金有效性的測試。換句話說,它是一種盈利能力比率,用於衡量公司股東提供的資金回報率。
How Do You Calculate Return On Equity?
怎樣計算ROE?
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 Huntington Ingalls Industries is:
因此,根據上述公式,亨廷頓英格爾斯工業的roe爲:
18% = US$748m ÷ US$4.2b (Based on the trailing twelve months to June 2024).
18%= US$74800萬 ÷ US$42億(基於截至2024年6月的過去十二個月)。
The 'return' is the yearly profit. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.18 in profit.
'回報'即爲年利潤。換句話說,公司每擁有$1的淨資產就能創造$0.18的利潤。
What Has ROE Got To Do With Earnings Growth?
roe與盈利增長有何關係?
So far, we've learned that ROE is a measure of a company's profitability. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
到目前爲止,我們已經知道roe是衡量公司盈利能力的一種方法。現在我們需要評估公司重新投資或“保留”的利潤有多少,以此來了解公司的增長潛力。一般來說,其他因素相同的情況下,roe和利潤保留都較高的公司比不具備這些屬性的公司具有更高的增長率。
Huntington Ingalls Industries' Earnings Growth And 18% ROE
亨廷頓英格爾斯工業的盈利增長和18%的roe。
To start with, Huntington Ingalls Industries' ROE looks acceptable. Especially when compared to the industry average of 14% the company's ROE looks pretty impressive. Despite this, Huntington Ingalls Industries' five year net income growth was quite flat over the past five years. We reckon that there could be some other factors at play here that's limiting the company's growth. These include low earnings retention or poor allocation of capital.
首先,亨廷頓英格爾斯工業的roe看起來是可以接受的。特別是與行業平均值14%相比,該公司的roe看起來相當驚人。儘管如此,亨廷頓英格爾斯工業的五年淨利潤增長在過去五年中相當平穩。我們認爲,在這裏可能存在一些其他因素限制了公司的增長。其中包括低收益保留或資本的配置不良。
We then compared Huntington Ingalls Industries' net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 7.0% in the same 5-year period, which is a bit concerning.
然後,我們將亨廷頓英格爾斯工業的淨利潤增長與行業進行了比較,並發現該公司的增長數字低於同一五年期間平均行業增長率的7.0%,這有點令人擔憂。
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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. What is HII worth today? The intrinsic value infographic in our free research report helps visualize whether HII is currently mispriced by the market.
對於一家公司來說,附加價值的基礎在很大程度上與其盈利增長有關。對於投資者而言,了解市場是否已經定價了公司預期的盈利增長(或下降)非常重要。這有助於他們確定股票是處於明亮還是黯淡的未來。今天HII的內在價值是多少?我們免費的研究報告中的內在價值信息圖表可以幫助您確定HII是否被市場定價錯誤。
Is Huntington Ingalls Industries Making Efficient Use Of Its Profits?
亨廷頓英格爾斯工業是否有效利用其利潤?
Despite having a normal three-year median payout ratio of 33% (implying that the company keeps 67% of its income) over the last three years, Huntington Ingalls Industries has seen a negligible amount of growth in earnings as we saw above. So there might be other factors at play here which could potentially be hampering growth. For example, the business has faced some headwinds.
儘管在過去三年中,亨廷頓英格爾斯工業的常規三年中位數派息比率爲33%(意味着公司保留了67%的收入),但正如我們上面所說,該公司的收益增長微不足道。因此,可能存在其他因素正在發揮作用,這可能會妨礙增長。例如,公司遇到了一些阻力。
In addition, Huntington Ingalls Industries has been paying dividends over a period of at least ten years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 36%. Therefore, the company's future ROE is also not expected to change by much with analysts predicting an ROE of 17%.
此外,亨廷頓英格爾斯工業已經連續支付股息至少十年,這表明即使以業務增長爲代價,保持股息支付的重要性對於管理層來說更加重要。根據最新分析師的估計,我們發現公司未來三年的派息比率預計將保持穩定在36%。因此,公司未來的roe也不會有太大變化,分析師預計roe爲17%。
Conclusion
結論
In total, it does look like Huntington Ingalls Industries has some positive aspects to its business. Although, we are disappointed to see a lack of growth in earnings even in spite of a high ROE and and a high reinvestment rate. We believe that there might be some outside factors that could be having a negative impact on the business. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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,亨廷頓英格爾斯工業業務有一些積極方面。儘管我們對在高roe和高再投資率的情況下收益增長缺乏增長感到失望,但我們認爲可能存在一些外部因素正在對業務產生負面影響。話雖如此,根據目前的分析師預測,我們發現公司的收益預計將獲得動力。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。