Nomad Foods Limited's (NYSE:NOMD) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Nomad Foods Limited's (NYSE:NOMD) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Nomad Foods (NYSE:NOMD) has had a rough three months with its share price down 14%. However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. In this article, we decided to focus on Nomad Foods' ROE.
Nomad Foods(纽约证券交易所代码：NOMD)经历了艰难的三个月，股价下跌了14%。然而，股价通常是由公司的长期财务状况推动的，在这种情况下，财务状况看起来相当不错。在本文中，我们决定将重点放在Nomad Foods的ROE上。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股本回报率(ROE)是对一家公司增值和管理投资者资金的效率的测试。简而言之，它衡量的是一家公司相对于股东权益的盈利能力。
Check out our latest analysis for Nomad Foods
查看我们对Nomad Foods的最新分析
How To Calculate Return On Equity?
如何计算股本回报率？
ROE can be calculated by using the formula:
可使用以下公式计算净资产收益率：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润？股东权益
So, based on the above formula, the ROE for Nomad Foods is:
因此，根据上述公式，Nomad Foods的净资产收益率为：
7.9% = €210m ÷ €2.6b (Based on the trailing twelve months to June 2023).
7.9%=2.1亿欧元？26亿欧元(基于截至2023年6月的12个月)。
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 $0.08.
“报税表”是过去12个月的税后收入。因此，这意味着股东每投资1美元，公司就会产生0.08美元的利润。
Why Is ROE Important For Earnings Growth?
为什么净资产收益率对收益增长很重要？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
我们已经证实，净资产收益率是一家公司未来收益的有效盈利指标。根据公司将这些利润再投资或“保留”多少，以及这样做的效率如何，我们就能够评估一家公司的收益增长潜力。假设其他条件不变，净资产收益率和利润保留率越高，与不一定具有这些特征的公司相比，公司的增长率就越高。
A Side By Side comparison of Nomad Foods' Earnings Growth And 7.9% ROE
Nomad Foods盈利增长与7.9%净资产收益率的并列比较
When you first look at it, Nomad Foods' 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 12% either. However, the moderate 9.2% net income growth seen by Nomad Foods over the past five years is definitely a positive. So, the growth in the company's earnings could probably have been caused by other variables. For instance, the company has a low payout ratio or is being managed efficiently.
当你第一眼看到它时，Nomad Foods的净资产收益率(ROE)看起来并不那么吸引人。一项快速的进一步研究显示，该公司的净资产收益率(ROE)也不及12%的行业平均水平。然而，Nomad Foods在过去五年中看到的9.2%的净收入温和增长绝对是积极的。因此，该公司收益的增长可能是由其他变量造成的。例如，该公司的派息率较低或管理效率较高。
Next, on comparing Nomad Foods' net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 11% over the last few years.
接下来，将游牧食品的净收入增长与行业进行比较，我们发现该公司报告的增长与过去几年11%的行业平均增长率相似。
Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. 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 Nomad Foods is trading on a high P/E or a low P/E, relative to its industry.
盈利增长是股票估值的一个重要因素。投资者下一步需要确定的是，预期的收益增长是否已经计入了股价。通过这样做，他们将知道股票是将进入清澈的蓝色水域，还是等待沼泽水域。衡量预期收益增长的一个很好的指标是市盈率，它根据一只股票的盈利前景决定市场愿意为其支付的价格。因此，你可能想看看Nomad Foods相对于其行业是高市盈率还是低市盈率。
Is Nomad Foods Making Efficient Use Of Its Profits?
Nomad Foods是否在有效利用其利润？
Given that Nomad Foods doesn't pay any dividend to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
鉴于Nomad Foods不向股东支付任何股息，我们推断该公司一直在将所有利润再投资于增长业务。
Conclusion
结论
On the whole, we do feel that Nomad Foods has some positive attributes. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high earnings growth. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. 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.
总体而言，我们确实觉得Nomad Foods有一些积极的属性。尽管回报率很低，但该公司将很高比例的利润再投资于业务，无疑是其高收益增长的原因。尽管如此，最新的行业分析师预测显示，该公司的收益预计将加速增长。要了解更多有关该公司未来收益增长预测的信息，请查看以下内容免费报告分析师对该公司的预测，以了解更多信息。
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本文由Simply Wall St.撰写，具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论，我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议，也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意，我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。