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Declining Stock and Solid Fundamentals: Is The Market Wrong About Atkore Inc. (NYSE:ATKR)?
Declining Stock and Solid Fundamentals: Is The Market Wrong About Atkore Inc. (NYSE:ATKR)?
With its stock down 18% over the past three months, it is easy to disregard Atkore (NYSE:ATKR). However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Particularly, we will be paying attention to Atkore's ROE today.
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.
View our latest analysis for Atkore
How To Calculate Return On Equity?
The formula for return on equity is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Atkore is:
79% = US$895m ÷ US$1.1b (Based on the trailing twelve months to June 2022).
The 'return' is the income the business earned over the last year. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.79 in profit.
Why Is ROE Important For Earnings Growth?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. 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.
Atkore's Earnings Growth And 79% ROE
Firstly, we acknowledge that Atkore has a significantly high ROE. Additionally, the company's ROE is higher compared to the industry average of 12% which is quite remarkable. So, the substantial 50% net income growth seen by Atkore over the past five years isn't overly surprising.
We then compared Atkore'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 9.6% in the same period.
NYSE:ATKR Past Earnings Growth August 8th 2022The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). 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 ATKR? You can find out in our latest intrinsic value infographic research report.
Is Atkore Efficiently Re-investing Its Profits?
Atkore doesn't pay any dividend currently which essentially means that it has been reinvesting all of its profits into the business. This definitely contributes to the high earnings growth number that we discussed above.
Conclusion
Overall, we are quite pleased with Atkore's performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. That being so, according to the latest industry analyst forecasts, the company's earnings are expected to shrink in the future. 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.
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.
在过去的三个月里,Atkore的股价下跌了18%,人们很容易忽视Atkore(纽约证券交易所代码:ATKR)。然而,仔细看看它稳健的财务状况可能会让你重新考虑。鉴于基本面因素通常会推动长期市场结果,该公司值得关注。特别是,我们今天将关注阿特科尔的净资产收益率。
股本回报率(ROE)是用来评估公司管理层利用公司资本效率的关键指标。简而言之,净资产收益率显示了每一美元相对于其股东投资产生的利润。
查看我们对Atkore的最新分析
如何计算股本回报率?
这个股本回报率公式是:
股本回报率=(持续经营的)净利润?股东权益
因此,根据上述公式,Atkore的净资产收益率为:
79%=8.95亿美元×11亿美元(基于截至2022年6月的12个月)。
“回报”指的是企业在过去一年中获得的收入。另一种说法是,公司每持有价值1美元的股票,就能赚取0.79美元的利润。
为什么净资产收益率对收益增长很重要?
我们已经证实,净资产收益率是一家公司未来收益的有效盈利指标。根据公司将这些利润再投资或“保留”多少,以及这样做的效率如何,我们就能够评估一家公司的收益增长潜力。假设其他条件不变,净资产收益率和利润保留率越高,与不一定具有这些特征的公司相比,公司的增长率就越高。
Atkore的收益增长和79%的净资产收益率
首先,我们承认Atkore拥有显著较高的净资产收益率。此外,该公司的净资产收益率(ROE)高于12%的行业平均水平,这是相当了不起的。因此,Atkore在过去五年中看到的50%的净利润大幅增长并不太令人惊讶。
然后,我们将Atkore的净收入增长与行业进行了比较,我们很高兴地看到,与同期9.6%的行业增长率相比,该公司的增长数字更高。
纽约证券交易所:ATKR过去的收益增长2022年8月8日赋予一家公司价值的基础在很大程度上与其盈利增长挂钩。对于投资者来说,重要的是知道市场是否已经消化了公司预期的收益增长(或下降)。这有助于他们确定这只股票是为光明还是黯淡的未来做准备。市场是否已经消化了ATKR的未来前景?你可以在我们最新的内在价值信息图研究报告中找到答案。
Atkore是否有效地对其利润进行了再投资?
Atkore目前不支付任何股息,这实质上意味着它一直在将所有利润再投资于该业务。这无疑是我们上面讨论的高收益增长数字的原因。
结论
总体而言,我们对阿特科尔的表现相当满意。特别是,我们喜欢该公司对其业务进行大量再投资,并以高回报率进行投资。不出所料,这导致了令人印象深刻的收益增长。在这种情况下,根据最新的行业分析师预测,该公司未来的收益预计将缩水。这些分析师的预期是基于对该行业的广泛预期,还是基于该公司的基本面?点击此处进入我们分析师对该公司的预测页面。
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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