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Is The Market Rewarding MasTec, Inc. (NYSE:MTZ) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?

Is The Market Rewarding MasTec, Inc. (NYSE:MTZ) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?

市場是否因爲MasTec, Inc.(紐交所:MTZ)的基本面融合表現不佳而給予負面情緒的獎勵?
Simply Wall St ·  09/04 14:13

With its stock down 5.5% over the past three months, it is easy to disregard MasTec (NYSE:MTZ). We, however decided to study the company's financials to determine if they have got anything to do with the price decline. 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 MasTec's ROE in this article.

在過去三個月中,MasTec(NYSE:MTZ)的股價下跌了5.5%,很容易忽視這一點。然而,我們決定研究該公司的財務狀況,以確定與價格下跌是否有關。股票價格通常受到公司長期財務表現的驅動,因此我們決定更加關注公司的財務表現。具體而言,我們決定在本文中研究MasTec的ROE。

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.

股東權益回報率ROE是測試公司增值能力和管理股東投資的有效性的指標。更簡單地說,它衡量公司在股東權益中的盈利能力。

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 MasTec is:

因此,根據上述公式,MasTec的ROE爲:

0.9% = US$26m ÷ US$2.7b (Based on the trailing twelve months to June 2024).

0.9%= 2,600萬美元 ÷ 27億美元(基於截至2024年6月的過去十二個月)。

The 'return' is the income the business earned over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.01 in profit.

'回報'是企業在過去一年中所獲得的收入。這意味着對於每1美元的股東權益,公司產生了0.01美元的利潤。

What Is The Relationship Between ROE And Earnings Growth?

ROE與盈利增長之間的關係是什麼?

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.

到目前爲止,我們已經了解到roe是衡量公司利潤產生效率的指標。根據公司選擇再投資或「保留」其利潤的比例,我們隨後可以評估公司未來利潤的能力。其他條件都相同的情況下,roe和利潤保留率都較高的公司通常比沒有這些特徵的公司有更高的增長速度。

MasTec's Earnings Growth And 0.9% ROE

MasTec的收益增長和0.9%的roe

It is hard to argue that MasTec's ROE is much good in and of itself. Even compared to the average industry ROE of 13%, the company's ROE is quite dismal. For this reason, MasTec's five year net income decline of 46% is not surprising given its lower ROE. We reckon that there could also be other factors at play here. Such as - low earnings retention or poor allocation of capital.

很難爭辯說MasTec的roe本身就很好。即使與行業平均roe13%相比,該公司的roe也相當糟糕。由於較低的roe,MasTec的五年淨利潤下降46%,這並不令人意外。我們認爲這裏也可能存在其他因素。例如-低收益保留或資本配置不佳。

That being said, we compared MasTec's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 18% in the same 5-year period.

話雖如此,我們將MasTec的表現與行業進行了比較,當我們發現,雖然該公司收益減少,但行業在同樣的5年期間以18%的速度增長其收益時,我們感到擔憂。

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NYSE:MTZ Past Earnings Growth September 4th 2024
紐交所:MTZ過去盈利增長2024年9月4日

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. Doing so will help them establish if the stock's future looks promising or ominous. Is MasTec fairly valued compared to other companies? These 3 valuation measures might help you decide.

盈利增長是股票估值的一個重要因素。投資者需要判斷的是,預期的盈利增長是否已經反映在股價中,這將幫助他們判斷股票的未來前景是看漲還是看跌。與其他公司相比,MasTec的估值是否合理?以下這3個估值指標可能對你的決策有所幫助。

Is MasTec Using Its Retained Earnings Effectively?

MasTec是否有效利用了保留收益?

MasTec doesn't pay any regular dividends, meaning that potentially all of its profits are being reinvested in the business, which doesn't explain why the company's earnings have shrunk if it is retaining all of its profits. So there might be other factors at play here which could potentially be hampering growth. For example, the business has faced some headwinds.

MasTec不支付定期分紅,這意味着其利潤可能全部用於再投資業務,但如果利潤全部保留,卻無法解釋爲什麼公司的盈利出現了下降。所以可能存在其他影響增長的因素。例如,該業務受到了一些不利因素的影響。

Conclusion

結論

In total, we're a bit ambivalent about MasTec's performance. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. Having said that, looking at current analyst estimates, we found that the company's earnings growth rate is expected to see a huge improvement. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

總體而言,我們對MasTec的表現保持着猶豫的態度。儘管該公司有較高的再投資率,但低ROE意味着所有的再投資並沒有給投資者帶來任何好處,而且對盈利增長有負面影響。說到這裏,根據目前的分析師預測,我們發現公司的盈利增長率有望大幅改善。要了解更多有關該公司的最新分析師預測,請查看這個分析師預測的可視化展示。

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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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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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