Has Corteva, Inc. (NYSE:CTVA) Stock's Recent Performance Got Anything to Do With Its Financial Health?
Has Corteva, Inc. (NYSE:CTVA) Stock's Recent Performance Got Anything to Do With Its Financial Health?
Most readers would already know that Corteva's (NYSE:CTVA) stock increased by 3.6% over the past week. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. Particularly, we will be paying attention to Corteva's ROE today.
大多数读者已经知道,Corteva (纽交所: CTVA)的股价在过去一周内上涨了3.6%。我们想知道公司的财务状况在这一价格变动中是否起到了作用,因为一个公司的长期基本面通常决定了市场的成果。尤其是今天我们将会关注Corteva的ROE。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股本回报率或roe是评估公司管理层如何有效利用公司资本的关键指标。简而言之,ROE显示每美元股东投资所产生的利润。
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 Corteva is:
所以,根据以上公式,Corteva的ROE为:
2.8% = US$710m ÷ US$25b (Based on the trailing twelve months to March 2024).
2.8%=7.1亿美元 ÷ 250亿美元(截至2024年3月的过去12个月)。
The 'return' refers to a company's earnings over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.03 in profit.
“回报”指的是公司过去一年的收益。这意味着对于每1美元的股东权益,公司产生了0.03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. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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衡量公司利润产生的效率。根据公司选择再投资或“保留”的利润比例,我们能够评估公司未来产生利润的能力。其他条件相同的情况下,roe和利润保留率均较高的公司通常比没有这些特征的公司成长速度更快。
Corteva's Earnings Growth And 2.8% ROE
Corteva的净利润增长和2.8%的ROE
As you can see, Corteva's ROE looks pretty weak. Not just that, even compared to the industry average of 10%, the company's ROE is entirely unremarkable. In spite of this, Corteva was able to grow its net income considerably, at a rate of 61% in the last five years. Therefore, there could be other reasons behind this growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
正如您所见,Corteva的ROE看起来相当弱。不仅如此,即使与行业平均水平的10%相比,该公司的ROE也非常平庸。尽管如此,Corteva在过去五年中的净利润增长率达到了61%,因此,这种增长背后可能有其他原因。例如,公司管理层采取了一些良好的战略决策,或者该公司的派息比率较低等。
We then compared Corteva'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 14% in the same 5-year period.
然后我们将Corteva的净利润增长与行业进行了比较,很高兴看到该公司的增长率比同一5年期内的行业增长率14%更高。
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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. This then helps them determine if the stock is placed for a bright or bleak future. What is CTVA worth today? The intrinsic value infographic in our free research report helps visualize whether CTVA is currently mispriced by the market.
收益增长是股票估值中的重要因素。投资者需要确定的是预期的收益增长(或缺乏收益增长)是否已经融入了股价中。这有助于他们判断股票是否面临光明或黑暗的未来。今天CTVA的价值多少?我们免费的研究报告中的内在价值信息图帮助您了解CTVA是否当前被市场错误定价。
Is Corteva Using Its Retained Earnings Effectively?
Corteva是否有效地使用其留存收益?
Corteva's three-year median payout ratio is a pretty moderate 35%, meaning the company retains 65% of its income. By the looks of it, the dividend is well covered and Corteva is reinvesting its profits efficiently as evidenced by its exceptional growth which we discussed above.
Corteva连续三年的中位数派息比率是相当适度的35%,这意味着该公司留存了其收入的65%。看起来,该公司的股息得到了很好的覆盖,证明Corteva正在有效地再投资其利润,正如我们上面讨论的那样,其业绩也非常出色。
Additionally, Corteva has paid dividends over a period of five years which means that the company is pretty serious about sharing its profits with shareholders. Our latest analyst data shows that the future payout ratio of the company is expected to drop to 22% over the next three years. Accordingly, the expected drop in the payout ratio explains the expected increase in the company's ROE to 9.6%, over the same period.
此外,Corteva已经连续五年支付股息,这意味着该公司非常重视与股东分享其利润。我们最新的分析师数据显示,该公司未来三年的派息比率预计将下降到22%。因此,预期的派息比率下降解释了同一时期内预期的该公司ROE的增加至9.6%。
Conclusion
结论
On the whole, we do feel that Corteva 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. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总体而言,我们认为Corteva有一些积极的特点。尽管其投资回报率较低,但该公司将很高比例的利润再投资到业务中,这无疑促成了其高业绩增长。既然如此,对于最新分析师预测的研究表明,该公司预计将看到其未来的盈利增长放缓。要了解更多关于该公司的最新分析师预测,请查看这个分析师预测的可视化。
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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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