Declining Stock and Decent Financials: Is The Market Wrong About Quaker Chemical Corporation (NYSE:KWR)?
Declining Stock and Decent Financials: Is The Market Wrong About Quaker Chemical Corporation (NYSE:KWR)?
It is hard to get excited after looking at Quaker Chemical's (NYSE:KWR) recent performance, when its stock has declined 10% over the past three months. However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. Specifically, we decided to study Quaker Chemical's ROE in this article.
查看了位於紐交所的Quaker Chemical(紐交所:KWR)最近的表現後,很難感到高興,因爲其股價在過去三個月下跌了10%。然而,該公司的基本面看起來相當不錯,長期財務狀況通常與未來市場價格走勢保持一致。具體而言,我們決定在本文中研究Quaker Chemical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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
淨資產收益率(roe)是衡量公司經營管理層如何有效利用公司資本的關鍵指標。換言之,它是一種利潤率,衡量由公司股東提供的資本的回報率。
How Do You Calculate Return On Equity?
怎樣計算ROE?
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 Quaker Chemical is:
所以,根據以上公式,Quaker Chemical的roe是:
8.9% = US$124m ÷ US$1.4b (Based on the trailing twelve months to June 2024).
8.9% = 1.24億美元 ÷ 140億美元(截至2024年6月的過去十二個月)。
The 'return' is the yearly profit. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.09 in profit.
「回報」是年度利潤。 一種觀點是:對於每$1的股東資本,公司獲得$0.09的利潤。
What Has ROE Got To Do With Earnings Growth?
roe與盈利增長有何關係?
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 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.
到目前爲止,我們已經了解到roe是衡量公司盈利能力的指標。我們現在需要評估公司重新投資或「保留」的利潤量,從而給我們提供有關公司增長潛力的想法。其他條件相同的情況下,roe和利潤保留率均較高的公司通常是增長率比沒有這些特徵的公司高的公司。
Quaker Chemical's Earnings Growth And 8.9% ROE
Quaker Chemical的盈利增長和8.9%的ROE
On the face of it, Quaker Chemical's ROE is not much to talk about. Yet, a closer study shows that the company's ROE is similar to the industry average of 9.6%. Even so, Quaker Chemical has shown a fairly decent growth in its net income which grew at a rate of 16%. Given the slightly low ROE, it is likely that there could be some other aspects that are driving 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.
乍一看,Quaker Chemical的ROE並不值得一提。然而,更仔細的研究顯示,該公司的ROE與行業平均水平9.6%相似。即便如此,Quaker Chemical的淨利潤增長相當可觀,增速達16%。鑑於稍低的ROE,很可能存在其他推動這一增長的因素。例如,公司管理層可能做出了一些明智的戰略決策,或者公司的派息比率較低。
As a next step, we compared Quaker Chemical's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 13%.
作爲下一步,我們將Quaker Chemical的淨利潤增長與整個行業進行了比較,令人欣慰的是,我們發現公司的增長高於整個行業的平均增長率13%。
![1724337288762](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240822/42742341-0-beca7d5d195505219d3500ebd5982314.webp/bigjpg)
Earnings growth is an important metric to consider when valuing a stock. 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. Has the market priced in the future outlook for KWR? You can find out in our latest intrinsic value infographic research report.
當評估一支股票時,盈利增長是一個重要的指標。接下來,投資者需要判斷的是預期盈利增長是否已經反映在股價中,這有助於他們判斷股票的未來前景是光明還是黯淡。市場是否已經爲KWR的未來展望定價?您可以在我們最新的內在價值信息圖研究報告中找到答案。
Is Quaker Chemical Making Efficient Use Of Its Profits?
Quaker Chemical是否有效利用了其利潤?
With a three-year median payout ratio of 27% (implying that the company retains 73% of its profits), it seems that Quaker Chemical is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.
根據三年的中位數派息比率爲27%(意味着公司保留了73%的利潤),看起來Quaker Chemical正在有效重新投資方式,以實現其盈利的可觀增長並支付了充分得到覆蓋的分紅。
Besides, Quaker Chemical has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders.
此外,Quaker Chemical至少已經連續十年支付股息,這表明該公司致力於與股東分享利潤。
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 do feel that Quaker Chemical has some positive attributes. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable 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.
總的來說,我們確實認爲喜力化學有一些積極的特點。儘管ROE較低,但公司以較高的再投資率,實現了可觀的盈利增長。話雖如此,根據目前的分析師預測,我們發現公司的盈利預計將會加速增長。欲了解更多關於公司未來盈利增長預測的信息,請查看這份有關該公司分析師預測的免費報告。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@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。