Is Quanta Services, Inc.'s (NYSE:PWR) Recent Stock Performance Tethered To Its Strong Fundamentals?
Is Quanta Services, Inc.'s (NYSE:PWR) Recent Stock Performance Tethered To Its Strong Fundamentals?
Quanta Services (NYSE:PWR) has had a great run on the share market with its stock up by a significant 17% over the last three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Specifically, we decided to study Quanta Services' ROE in this article.
广达服务(纽约证券交易所代码:PWR)在股票市场上表现良好,其股票在过去三个月中大幅上涨了17%。鉴于从长远来看,市场会奖励强劲的财务状况,我们想知道在这种情况下是否如此。具体而言,我们决定在本文中研究广达服务的投资回报率。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股本回报率或投资回报率是股东需要考虑的重要因素,因为它可以告诉他们资本再投资的有效性。简而言之,它衡量公司相对于股东权益的盈利能力。
View our latest analysis for Quanta Services
查看我们对Quanta Services的最新分析
How To Calculate Return On Equity?
如何计算股本回报率?
The formula for ROE is:
ROE 的公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润(来自持续经营业务)÷ 股东权益
So, based on the above formula, the ROE for Quanta Services is:
因此,根据上述公式,广达服务的投资回报率为:
12% = US$711m ÷ US$6.0b (Based on the trailing twelve months to September 2023).
12% = 7.11亿美元 ÷ 60亿美元(基于截至2023年9月的过去十二个月)。
The 'return' is the yearly profit. That means that for every $1 worth of shareholders' equity, the company generated $0.12 in profit.
“回报” 是每年的利润。这意味着,每持有价值1美元的股东权益,公司就会产生0.12美元的利润。
What Is The Relationship Between ROE And Earnings Growth?
投资回报率与收益增长之间有什么关系?
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. 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.
到目前为止,我们已经了解到,投资回报率衡量的是公司创造利润的效率。然后,我们能够评估公司的收益增长潜力,具体取决于公司对这些利润进行再投资或 “保留” 了多少及其有效性。一般而言,在其他条件相同的情况下,股本回报率和利润留存率高的公司的增长率要高于不具有这些属性的公司。
A Side By Side comparison of Quanta Services' Earnings Growth And 12% ROE
广达服务的收益增长和12%的投资回报率的并排比较
To begin with, Quanta Services seems to have a respectable ROE. Even when compared to the industry average of 11% the company's ROE looks quite decent. This certainly adds some context to Quanta Services' moderate 12% net income growth seen over the past five years.
首先,广达服务的投资回报率似乎不错。即使与行业平均水平的11%相比,该公司的投资回报率也相当不错。这无疑为广达服务在过去五年中实现的12%的温和净收入增长增添了一些背景信息。
As a next step, we compared Quanta Services' net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 20% in the same period.
下一步,我们将广达服务的净收入增长与该行业进行了比较,并失望地看到该公司的增长低于同期20%的行业平均增长。
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. Is PWR fairly valued? This infographic on the company's intrinsic value has everything you need to know.
收益增长是股票估值的重要因素。投资者接下来需要确定的是,预期的收益增长或缺乏收益是否已经包含在股价中。通过这样做,他们将知道股票是走向清澈的蓝色海水还是沼泽水域在等着呢。PWR 的估值是否合理?这张关于公司内在价值的信息图包含了你需要知道的一切。
Is Quanta Services Efficiently Re-investing Its Profits?
广达服务是否有效地将其利润再投资?
In Quanta Services' case, its respectable earnings growth can probably be explained by its low three-year median payout ratio of 7.2% (or a retention ratio of 93%), which suggests that the company is investing most of its profits to grow its business.
就广达服务而言,其可观的收益增长可以用其三年低的7.2%(或93%的留存率)来解释,这表明该公司正在将大部分利润投资于业务增长。
Besides, Quanta Services has been paying dividends over a period of five years. This shows that the company is committed to sharing profits with its shareholders. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 4.0% over the next three years. Despite the lower expected payout ratio, the company's ROE is not expected to change by much.
此外,广达服务已在五年内派发了股息。这表明该公司致力于与股东分享利润。在研究了分析师的最新共识数据后,我们发现该公司的未来派息率预计将在未来三年降至4.0%。尽管预期派息率较低,但该公司的投资回报率预计不会有太大变化。
Conclusion
结论
On the whole, we feel that Quanta Services' performance has been quite good. 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 a good amount of growth in its earnings. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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.
总的来说,我们认为广达服务的表现相当不错。具体而言,我们喜欢该公司以高回报率再投资其利润的很大一部分。当然,这使该公司的收益实现了可观的增长。话虽如此,从分析师目前的估计来看,我们发现该公司的收益有望增强。要了解有关公司未来收益增长预测的更多信息,请查看这份关于分析师预测的免费报告,以了解更多信息。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。