The Procter & Gamble Company's (NYSE:PG) Stock Been Rising: Are Strong Financials Guiding The Market?
The Procter & Gamble Company's (NYSE:PG) Stock Been Rising: Are Strong Financials Guiding The Market?
Procter & Gamble's (NYSE:PG) stock up by 2.6% over the past three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Particularly, we will be paying attention to Procter & Gamble's ROE today.
宝洁公司(NYSE:PG)的股票在过去三个月中上涨了2.6%。 长期来看,市场会奖励强大的财务实力,我们想知道在这种情况下是否真的如此。 尤其是,我们将关注宝洁公司今天的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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
roe指股东权益回报率,是一种有用的工具,用于评估公司如何有效地从股东获得的投资中产生回报。简单来说,这衡量了一家公司相对于股东权益的盈利能力。
How Do You Calculate Return On Equity?
怎样计算ROE?
The formula for return on equity is:
权益回报率的计算公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润(从持续经营中获得)÷ 股东权益
So, based on the above formula, the ROE for Procter & Gamble is:
因此,根据上述公式,宝洁公司的ROE为:
30% = US$15b ÷ US$50b (Based on the trailing twelve months to March 2024).
30% = 美元15亿 ÷ 美元50亿(基于过去12个月至2024年3月)。
The 'return' is the income the business earned over the last year. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.30 in profit.
“回报”是企业过去一年赚取的收入。 另一种思考方法是,对于每1美元的股本,公司能够赚取0.30美元的利润。
What Has ROE Got To Do With Earnings Growth?
ROE与盈利增长有什么关系?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
到目前为止,我们已经了解到ROE衡量公司如何高效地生成利润。现在我们需要评估公司以后的增长潜力,即公司重新投资或“保留”的利润。其他条件相同的情况下,同时具有较高的股权回报率和较高的利润保留的公司通常是相对于不具备相同特点的公司而言增长率更高的公司。
A Side By Side comparison of Procter & Gamble's Earnings Growth And 30% ROE
宝洁公司盈利增长和30% ROE的并列对比
Firstly, we acknowledge that Procter & Gamble has a significantly high ROE. Second, a comparison with the average ROE reported by the industry of 21% also doesn't go unnoticed by us. This probably laid the groundwork for Procter & Gamble's moderate 16% net income growth seen over the past five years.
首先,我们认识到宝洁公司ROE非常高。 其次,与行业平均ROE(21%)相比,我们也没有忽视这一点。 这可能为过去五年中宝洁公司16%的适度净收入增长奠定了基础。
We then compared Procter & Gamble's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 1.9% in the same 5-year period.
然后,我们将宝洁公司的净利润增长与行业进行了比较,看到公司在相同的5年期间的增长率高于行业,后者的增长率为1.9%。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240626/0-277855e075e4d59ba58fa7fb97aa97fb-0-f54d853cd0344a34d9e6673d72396b79.png/big)
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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is PG fairly valued? This infographic on the company's intrinsic value has everything you need to know.
盈利增长是评估股票价值时需要考虑的重要指标。 投资者应该尝试确定预期的盈利增长或下降是否已计入价格。 这样做,他们将知道股票是前往清澈蓝水还是沼泽水域。PG是否估值公道? 该公司固有价值的此信息图表包含您需要了解的所有信息。
Is Procter & Gamble Efficiently Re-investing Its Profits?
宝洁公司是否有效地再投资其利润?
Procter & Gamble has a significant three-year median payout ratio of 59%, meaning that it is left with only 41% to reinvest into its business. This implies that the company has been able to achieve decent earnings growth despite returning most of its profits to shareholders.
宝洁公司具有显着的三年中位数支付比率为59%,这意味着其仅有41%用于再投资其业务。 这意味着尽管将大多数利润返还给股东,但该公司仍能实现可观的盈利增长。
Besides, Procter & Gamble has been paying dividends for at least ten years or more. 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 is expected to keep paying out approximately 57% of its profits over the next three years. As a result, Procter & Gamble's ROE is not expected to change by much either, which we inferred from the analyst estimate of 34% for future ROE.
此外,宝洁公司已经连续十年或更长时间支付股息。 这表明该公司致力于与股东分享利润。 在研究最新的分析师共识数据时,我们发现该公司预计在未来三年中将继续支付约57%的利润。 因此,从分析师未来roe的34%的估计中推断,宝洁公司的ROE也不会发生太大变化。
Summary
总的来说,我们对伟明环保的表现非常满意。具体而言,我们喜欢公司以高回报率再投资了其利润的很大一部分。当然,这导致公司的收益大幅增长。但是,最新的行业分析师预测表明,该公司的收益预计将加速增长。
In total, we are pretty happy with Procter & Gamble's performance. Especially the high ROE, Which has contributed to the impressive growth seen in earnings. Despite the company reinvesting only a small portion of its profits, it still has managed to grow its earnings so that is appreciable. 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.
总的来说,我们对宝洁公司的表现非常满意。 特别是高ROE,这有助于收益的出色增长。 尽管该公司仅再投资了少量利润,但它仍然成功地增长了收益,这是值得赞赏的。 话虽如此,最新的行业分析师预测显示,该公司的盈利增长预计将放缓。 这些分析师的预期是基于行业的大致预期,还是基于公司的基本面? 点此进入我们的分析师预测页面以了解更多。
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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.
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这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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