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Declining Stock and Solid Fundamentals: Is The Market Wrong About American States Water Company (NYSE:AWR)?
Declining Stock and Solid Fundamentals: Is The Market Wrong About American States Water Company (NYSE:AWR)?
It is hard to get excited after looking at American States Water's (NYSE:AWR) recent performance, when its stock has declined 8.2% over the past month. 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 American States Water's ROE today.
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 short, ROE shows the profit each dollar generates with respect to its shareholder investments.
View our latest analysis for American States Water
How To Calculate Return On Equity?
Return on equity can be calculated by using the formula:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for American States Water is:
12% = US$83m ÷ US$694m (Based on the trailing twelve months to June 2022).
The 'return' is the amount earned after tax over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.12 in profit.
What Has ROE Got To Do With Earnings Growth?
So far, we've learned that ROE is a measure of a company's profitability. 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.
American States Water's Earnings Growth And 12% ROE
To begin with, American States Water seems to have a respectable ROE. Further, the company's ROE compares quite favorably to the industry average of 8.4%. This probably laid the ground for American States Water's moderate 8.1% net income growth seen over the past five years.
Next, on comparing American States Water's net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 7.9% in the same period.
NYSE:AWR Past Earnings Growth September 3rd 2022Earnings 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 American States Water fairly valued compared to other companies? These 3 valuation measures might help you decide.
Is American States Water Efficiently Re-investing Its Profits?
The high three-year median payout ratio of 54% (or a retention ratio of 46%) for American States Water suggests that the company's growth wasn't really hampered despite it returning most of its income to its shareholders.
Besides, American States Water has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Our latest analyst data shows that the future payout ratio of the company over the next three years is expected to be approximately 60%. Accordingly, forecasts suggest that American States Water's future ROE will be 14% which is again, similar to the current ROE.
Summary
On the whole, we feel that American States Water's performance has been quite good. We are particularly impressed by the considerable earnings growth posted by the company, which was likely backed by its high ROE. 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. On studying current analyst estimates, we found that analysts expect the company to continue its recent growth streak. 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.
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.
看到American States Water(NYSE:AWR)最近的表现,很难感到兴奋,它的股价在过去一个月里下跌了8.2%。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。今天,我们将特别关注美国各州水务公司的净资产收益率。
股本回报率或净资产收益率是股东要考虑的一个重要因素,因为它告诉他们他们的资本再投资的效率。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。
查看我们对美国各州水的最新分析
如何计算股本回报率?
股本回报率可使用以下公式计算:
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,美国各州水的净资产收益率为:
12%=8300万美元×6.94亿美元(基于截至2022年6月的12个月的往绩)。
“报税表”是过去12个月的税后收入。这意味着,股东权益每增加1美元,公司就会产生0.12美元的利润。
净资产收益率与盈利增长有什么关系?
到目前为止,我们了解到净资产收益率是衡量一家公司盈利能力的指标。根据公司选择再投资或“保留”多少利润,我们就能够评估一家公司未来产生利润的能力。假设其他条件相同,与没有相同特征的公司相比,拥有更高股本回报率和更高利润保留率的公司通常会有更高的增长率。
美国各州水务的收益增长和12%的净资产收益率
首先,美国各州的水资源似乎有令人尊敬的净资产收益率。此外,该公司的净资产收益率(ROE)与8.4%的行业平均水平相比相当有利。这可能为美国各州水务公司在过去五年中净收入温和增长8.1%奠定了基础。
接下来,对比美国各州水务的净收入增长与行业,我们发现,该公司报告的增长与同期7.9%的行业平均增长率相似。
纽约证券交易所:AWR过去的收益增长2022年9月3日盈利增长是股票估值的一个重要因素。投资者下一步需要确定的是,预期的收益增长是否已经计入了股价。这样做将有助于他们确定该股的未来看起来是光明的还是不祥的。与其他公司相比,美国各州的水务公司的价值是否公平?这3个估值指标可能会帮助你做出决定。
美国各州水务公司是否有效地对其利润进行了再投资?
American States Water高达54%的三年中值派息率(或46%的留存率)表明,尽管该公司将大部分收入返还给股东,但该公司的增长并未受到真正的阻碍。
此外,美国各州水务公司至少在十年或更长时间内一直在支付红利。这表明该公司致力于与股东分享利润。我们最新的分析师数据显示,该公司未来三年的派息率预计约为60%。因此,预测表明,美国各州水务公司未来的净资产收益率将为14%,与目前的净资产收益率相似。
摘要
整体而言,我们觉得美国各州水务的表现相当不错。该公司公布的可观收益增长给我们留下了特别深刻的印象,这可能是由其高ROE支持的。虽然该公司将大部分收益作为股息支付,但它仍然能够实现收益增长,因此这可能是一个好迹象。在研究了分析师目前的预测后,我们发现,分析师预计该公司将继续最近的增长势头。要了解更多有关该公司未来收益增长预测的信息,请查看以下内容免费报告分析师对该公司的预测,以了解更多信息。
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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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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