Is Revvity, Inc.'s (NYSE:RVTY) Recent Price Movement Underpinned By Its Weak Fundamentals?
Is Revvity, Inc.'s (NYSE:RVTY) Recent Price Movement Underpinned By Its Weak Fundamentals?
It is hard to get excited after looking at Revvity's (NYSE:RVTY) recent performance, when its stock has declined 5.7% over the past month. It seems that the market might have completely ignored the positive aspects of the company's fundamentals and decided to weigh-in more on the negative aspects. Stock prices are usually driven by a company's financial performance over the long term, and therefore we decided to pay more attention to the company's financial performance. Specifically, we decided to study Revvity's ROE in this article.
看到Revvity(紐交所:RVTY)最近的表現,很難感到興奮,因爲過去一個月股價下跌了5.7%。似乎市場完全忽略了公司基本面中的積極因素,而決定更多地考慮負面因素。股票價格通常受公司長期的財務業績驅動,因此我們決定更加關注公司的財務表現。具體而言,在本文中,我們決定研究Revvity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 short, ROE shows the profit each dollar generates with respect to its shareholder investments.
roe或權益回報率是評估公司有效利用股東投資產生回報效率的有用工具。簡而言之,roe顯示每個股東投資所產生的利潤。
How To Calculate Return On Equity?
如何計算股東權益報酬率?
The formula for return on equity is:
權益回報率的計算公式是:
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 Revvity is:
因此,根據上述公式,Revvity的ROE爲:
2.3% = US$183m ÷ US$7.8b (Based on the trailing twelve months to March 2024).
2.3% = 1.83億美元 ÷ 780億美元(截至2024年3月的過去12個月)。
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 $0.02 in profit.
“回報”是指公司過去一年的收益。一種概念化的方法是,對於每1美元的股東資本,公司利潤爲0.02美元。
What Is The Relationship Between ROE And Earnings Growth?
既然我們已經確定ROE是一種有效的利潤生成標準,用於評估公司未來的盈利能力,我們現在需要評估公司“保留”爲未來增長而重新投資的利潤多少,這使我們對公司的增長潛力有了一個了解。一般而言,在其他條件相等的情況下,ROE和利潤留存高的公司,增長率比沒有這些屬性的公司要高。
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. 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是公司利潤能力的一個衡量標準,現在我們需要評估公司再投資或“保留”的利潤,以此來了解公司的增長潛力。假設其他所有因素保持不變,roe和利潤保留率越高,公司的增長速度就越高,相對於不一定具備這些特徵的公司而言。
Revvity's Earnings Growth And 2.3% ROE
Revvity的盈利增長和2.3%的ROE
It is quite clear that Revvity's ROE is rather low. Not just that, even compared to the industry average of 12%, the company's ROE is entirely unremarkable. Therefore, Revvity's flat earnings over the past five years can possibly be explained by the low ROE amongst other factors.
很明顯,Revvity的ROE相當低。不僅如此,即使與12%的行業平均水平相比,公司的ROE也是非常一般的。因此,Revvity過去五年的平穩盈利可能可以通過低的ROE和其他因素來解釋。
We then compared Revvity's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 17% in the same 5-year period, which is a bit concerning.
然後,我們將Revvity的淨利潤增長與行業進行了比較,發現公司的增長率低於同一5年期內的行業平均增長率17%,這有點令人擔憂。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240706/0-04c2532e6c908201d75c4e60e67198e0-0-55dd5e16f78284071ddecd78ee656f17.png/big)
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. Is Revvity fairly valued compared to other companies? These 3 valuation measures might help you decide.
附加價值給公司的基礎在很大程度上與其盈利增長有關。投資者應該試圖確定預期收益增長或下降(視情況而定)是否定價。這樣做將有助於他們確定股票的未來前景是有前途還是不妙。與其他公司相比,Revvity的價格是否合理?這3個估值指標可能會幫助您做出決策。
Is Revvity Efficiently Re-investing Its Profits?
Revvity是否有效地再投資其利潤?
Revvity's low three-year median payout ratio of 5.9%, (meaning the company retains94% of profits) should mean that the company is retaining most of its earnings and consequently, should see higher growth than it has reported.
Revvity低的三年中位數派息比率爲5.9%(意味着公司保留94%的利潤),這意味着公司保留了大部分利潤,因此應該看到比報告的增長更高。
Moreover, Revvity has been paying dividends for at least ten years or more suggesting that management must have perceived that the shareholders prefer dividends over earnings growth. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 4.6% over the next three years. The fact that the company's ROE is expected to rise to 7.9% over the same period is explained by the drop in the payout ratio.
此外,Revvity已經支付股息至少十年或更長時間,這表明管理層必須認爲股東更喜歡股息而不是盈利增長。在研究最新的分析師共識數據時,我們發現公司未來的派息比率預計將在未來三年內下降至4.6%。公司ROE的預計上升也可以解釋爲派息比率下降的結果。
Summary
總的來說,我們對偉明環保的表現非常滿意。具體而言,我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然,這導致公司的收益大幅增長。但是,最新的行業分析師預測表明,該公司的收益預計將加速增長。
On the whole, we feel that the performance shown by Revvity can be open to many interpretations. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. 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 latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總的來說,我們覺得Revvity表現出的結果可以有許多解釋。雖然該公司確實具有高負盈利率,但其低迴報率可能正在阻礙其盈利增長。話雖如此,查看最新的分析師預測可知,公司的收益預計將增長。
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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.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者,發送電子郵件至editorial-team (at) 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
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。