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Declining Stock and Decent Financials: Is The Market Wrong About Coca-Cola FEMSA, S.A.B. De C.V. (NYSE:KOF)?

Declining Stock and Decent Financials: Is The Market Wrong About Coca-Cola FEMSA, S.A.B. De C.V. (NYSE:KOF)?

股價下跌和良好的財務狀況:市場對可口可樂凡薩瓶裝公司(紐交所:KOF)是否有誤判?
Simply Wall St ·  08/27 10:20

Coca-Cola FEMSA. de (NYSE:KOF) has had a rough three months with its share price down 7.0%. But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. Specifically, we decided to study Coca-Cola FEMSA. de's ROE in this article.

可口可樂凡薩瓶裝(NYSE:KOF)在過去三個月表現不佳,股價下跌7.0%。但如果你仔細觀察,你可能會發現其關鍵的財務指標看起來相當不錯,這可能意味着股票在長期內有可能上漲,因爲市場通常會獎勵更具韌性的長期基本面。特別是我們決定在本文中研究可口可樂凡薩瓶裝的roe。

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.

股東要考慮的關鍵因素之一是淨資產收益率或roe,因爲它告訴他們公司如何有效地重新投資他們的資本。簡單點說,它衡量了公司與股東權益相關的盈利能力。

How Is ROE Calculated?

淨資產收益率怎麼計算?

The formula for ROE is:

roe的公式是:

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 Coca-Cola FEMSA. de is:

因此,根據上述公式,可口可樂凡薩瓶裝的roe爲:

16% = Mex$22b ÷ Mex$135b (Based on the trailing twelve months to June 2024).

16% = Mex$220億 ÷ Mex$1350億(基於截至2024年6月的最近十二個月)。

The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.16 in profit.

「回報」是指過去12個月稅後所賺的金額。一種概念化的方法是,對於每1美元的股東資本,公司的利潤爲0.16美元。

What Has ROE Got To Do With Earnings Growth?

roe與盈利增長有何關係?

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. 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.

到目前爲止,我們已經知道ROE評估了公司利潤生成效率。現在我們需要評估公司回報率或「保留」了多少利潤以供未來增長,從而可以了解公司的增長潛力。總的來說,其他條件相同的情況下,具有高ROE和利潤保留的公司比沒有這些屬性的公司有更高的增長率。

Coca-Cola FEMSA. de's Earnings Growth And 16% ROE

可口可樂凡薩瓶裝的盈利增長和16%的roe

To begin with, Coca-Cola FEMSA. de seems to have a respectable ROE. Be that as it may, the company's ROE is still quite lower than the industry average of 24%. However, the moderate 15% net income growth seen by Coca-Cola FEMSA. de over the past five years is definitely a positive. We reckon that there could be other factors at play here. Such as - high earnings retention or an efficient management in place. Bear in mind, the company does have a respectable level of ROE. It is just that the industry ROE is higher. So this also does lend some color to the fairly high earnings growth seen by the company.

首先,可口可樂凡薩瓶裝的roe似乎是相當可觀的。但是,該公司的roe仍然比行業平均水平24%低得多。然而,可口可樂凡薩瓶裝在過去五年中的15%的淨利潤增長確實是個正面因素。我們認爲可能還有其他因素在起作用,比如高淨利潤保留或高效的管理。請記住,該公司的roe水平是相當可觀的,只是行業roe更高。因此,這也爲該公司的相當高的盈利增長增添了一些色彩。

As a next step, we compared Coca-Cola FEMSA. de's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 14% in the same period.

作爲下一步,我們將可口可樂凡薩瓶裝的淨利潤增長與行業進行了比較,發現該公司在同一時期與行業平均增長率14%的增長數據相似。

1724768435027
NYSE:KOF Past Earnings Growth August 27th 2024
紐交所:KOF過去的盈利增長 2024年8月27日

Earnings growth is a huge factor in stock valuation. 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. If you're wondering about Coca-Cola FEMSA. de's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

盈利增長是股票估值中的一個重要因素。投資者應該嘗試確定預期的盈利增長或下降是否反映在股價中。這樣做將幫助他們判斷股票的未來是看好還是悲觀。如果你對可口可樂凡薩瓶裝的估值感到好奇,請看一下它的市盈率與行業相比的情況。

Is Coca-Cola FEMSA. de Using Its Retained Earnings Effectively?

可口可樂凡薩瓶裝是否有效利用了保留收益?

Coca-Cola FEMSA. de has a significant three-year median payout ratio of 64%, meaning that it is left with only 36% 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.

可口可樂凡薩瓶裝具有顯著的三年中位數派息比率爲64%,這意味着它只有36%的利潤用於再投資。這表明儘管大部分利潤返還給股東,該公司仍能實現不錯的盈利增長。

Additionally, Coca-Cola FEMSA. de has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 61% of its profits over the next three years. Accordingly, forecasts suggest that Coca-Cola FEMSA. de's future ROE will be 18% which is again, similar to the current ROE.

此外,可口可樂凡薩瓶裝至少連續十年派發股息,這意味着該公司非常重視與股東分享利潤。研究最新的分析師共識數據後,我們發現該公司預計在未來三年將繼續派發約61%的利潤。因此,預測表明可口可樂凡薩瓶裝未來的ROE將達到18%,這與當前的ROE相似。

Conclusion

結論

On the whole, we do feel that Coca-Cola FEMSA. de has some positive attributes. Namely, its significant earnings growth, to which its moderate rate of return likely contributed. While the company is paying out most of its earnings as dividends, it has been able to grow its earnings in spite of it, so that's probably a good sign. 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.

總體而言,我們確實認爲可口可樂凡薩瓶裝具有一些積極的特點。特別是它的顯著收益增長,其中較低的回報率可能起到了一定的作用。儘管該公司將大部分收益用於分紅派息,但它仍能夠實現收益增長,這可能是個好跡象。然而,最新的行業分析師預測顯示,該公司的收益增長預計將放緩。這些分析師的預期是基於對整個行業的廣泛預期,還是基於該公司的基本面?點擊這裏查看我們分析師對該公司的預測頁面。

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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。

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