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Are NVent Electric Plc's (NYSE:NVT) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?
Are NVent Electric Plc's (NYSE:NVT) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?
nVent Electric (NYSE:NVT) has had a rough month with its share price down 7.6%. 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. Particularly, we will be paying attention to nVent Electric's ROE today.
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
See our latest analysis for nVent Electric
How Is ROE Calculated?
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 nVent Electric is:
11% = US$289m ÷ US$2.6b (Based on the trailing twelve months to June 2022).
The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.11 in profit.
What Is The Relationship Between ROE And Earnings Growth?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
nVent Electric's Earnings Growth And 11% ROE
At first glance, nVent Electric seems to have a decent ROE. Further, the company's ROE is similar to the industry average of 12%. For this reason, nVent Electric's five year net income decline of 17% raises the question as to why the decent ROE didn't translate into growth. Based on this, we feel that there might be other reasons which haven't been discussed so far in this article that could be hampering the company's growth. For example, it could be that the company has a high payout ratio or the business has allocated capital poorly, for instance.
So, as a next step, we compared nVent Electric's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 9.4% in the same period.
NYSE:NVT Past Earnings Growth September 20th 2022The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Is NVT fairly valued? This infographic on the company's intrinsic value has everything you need to know.
Is nVent Electric Making Efficient Use Of Its Profits?
In spite of a normal three-year median payout ratio of 47% (that is, a retention ratio of 53%), the fact that nVent Electric's earnings have shrunk is quite puzzling. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
In addition, nVent Electric has been paying dividends over a period of four years suggesting that keeping up dividend payments is preferred by the management even though earnings have been in decline. Our latest analyst data shows that the future payout ratio of the company over the next three years is expected to be approximately 54%.
Conclusion
In total, it does look like nVent Electric has some positive aspects to its business. Although, we are disappointed to see a lack of growth in earnings even in spite of a high ROE and and a high reinvestment rate. We believe that there might be some outside factors that could be having a negative impact on the business. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. 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.
NVent Electric(纽约证券交易所代码:NVT)经历了艰难的一个月,其股价下跌了7.6%。但如果你密切关注,你可能会发现,该公司的关键财务指标看起来相当不错,这可能意味着,鉴于市场通常会奖励更具弹性的长期基本面因素,该股可能会在长期内上涨。今天我们特别关注nVent Electric的净资产收益率(ROE)。
股本回报率(ROE)是对一家公司增值和管理投资者资金的效率的测试。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nVent Electric的最新分析
净资产收益率是如何计算的?
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,nVent Electric的ROE为:
11%=2.89亿美元×26亿美元(基于截至2022年6月的12个月)。
“报税表”是过去12个月的税后收入。另一种说法是,公司每持有价值1美元的股票,就能赚取0.11美元的利润。
净资产收益率与盈利增长之间有什么关系?
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。我们现在需要评估公司将多少利润再投资或“保留”用于未来的增长,这就让我们对公司的增长潜力有了一个了解。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。
NVent Electric的收益增长和11%的净资产收益率
乍一看,nVent Electric似乎拥有不错的净资产收益率。此外,该公司的净资产收益率(ROE)接近12%的行业平均水平。出于这个原因,nVent Electric的五年净利润下降了17%,这让人不禁要问,为什么可观的净资产收益率并没有转化为增长。基于此,我们认为,可能还有本文迄今未讨论的其他原因,可能正在阻碍公司的增长。例如,可能是公司的派息率很高,或者企业的资本配置不当。
因此,下一步,我们将nVent Electric的表现与行业进行了比较,令人失望的是,尽管该公司的收益一直在缩水,但同期该行业的收益一直以9.4%的速度增长。
纽约证券交易所:NVT过去的收益增长2022年9月20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。投资者应该尝试确定预期的收益增长或下降是否已计入价格,无论是哪种情况。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。NVT的价值公平吗?这张关于公司内在价值的信息图包含了你需要知道的一切。
NVent Electric是否有效地利用了其利润?
尽管正常的三年中值派息率为47%(即留存率为53%),但nVent Electric的收益缩水的事实相当令人费解。看起来可能还有其他一些原因来解释这方面的缺乏。例如,这项业务可能正在衰落。
此外,nVent Electric在过去四年里一直在支付股息,这表明,尽管收益一直在下降,但管理层更倾向于继续支付股息。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54%。
结论
总体而言,nVent Electric的业务确实有一些积极的方面。然而,我们失望地看到,即使在高ROE和高再投资率的情况下,收益也没有增长。我们认为,可能有一些外部因素可能正在对业务产生负面影响。既然如此,最新的行业分析师预测显示,分析师们预计该公司的收益增长率将大幅提高。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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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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