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Old Republic International Corporation (NYSE:ORI) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?
Old Republic International Corporation (NYSE:ORI) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?
It is hard to get excited after looking at Old Republic International's (NYSE:ORI) recent performance, when its stock has declined 14% over the past month. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. In this article, we decided to focus on Old Republic International's ROE.
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
See our latest analysis for Old Republic International
How To Calculate Return On Equity?
The formula for ROE is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Old Republic International is:
15% = US$982m ÷ US$6.4b (Based on the trailing twelve months to June 2022).
The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.15 in profit.
What Is The Relationship Between ROE And Earnings Growth?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. 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.
Old Republic International's Earnings Growth And 15% ROE
At first glance, Old Republic International seems to have a decent ROE. Especially when compared to the industry average of 11% the company's ROE looks pretty impressive. This certainly adds some context to Old Republic International's exceptional 24% net income growth seen over the past five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
We then compared Old Republic International'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 14% in the same period.
NYSE:ORI Past Earnings Growth September 25th 2022Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is Old Republic International fairly valued compared to other companies? These 3 valuation measures might help you decide.
Is Old Republic International Making Efficient Use Of Its Profits?
The three-year median payout ratio for Old Republic International is 28%, which is moderately low. The company is retaining the remaining 72%. This suggests that its dividend is well covered, and given the high growth we discussed above, it looks like Old Republic International is reinvesting its earnings efficiently.
Additionally, Old Republic International 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. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 49% over the next three years. Therefore, the expected rise in the payout ratio explains why the company's ROE is expected to decline to 11% over the same period.
Conclusion
On the whole, we feel that Old Republic International's performance has been quite good. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. With that said, on studying the latest analyst forecasts, we found that while the company has seen growth in its past earnings, analysts expect its future earnings to shrink. 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.
看到Old Republic International(纽约证券交易所股票代码:ORI)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14%。然而,股价通常是由一家公司的长期财务表现推动的,在这种情况下,这看起来相当有希望。在本文中,我们决定关注旧共和国际的净资产收益率。
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,它是用来评估一家公司相对于其权益资本的盈利能力。
查看我们对旧共和国际的最新分析
如何计算股本回报率?
这个净资产收益率公式是:
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,旧共和国际的净资产收益率为:
15%=9.82亿美元×64亿美元(基于截至2022年6月的12个月)。
“收益”是过去12个月的利润。一种将其概念化的方法是,公司每拥有1美元的股东资本,就能获得0.15美元的利润。
净资产收益率与盈利增长之间有什么关系?
到目前为止,我们已经了解到净资产收益率衡量的是一家公司创造利润的效率。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。一般来说,在其他条件相同的情况下,股本回报率和利润留存较高的公司比不具备这些特征的公司有更高的增长率。
旧共和国际的收益增长和15%的净资产收益率
乍一看,旧共和国际似乎拥有不错的净资产收益率。特别是与11%的行业平均水平相比,该公司的净资产收益率(ROE)看起来相当令人印象深刻。这当然为旧共和国际在过去五年中24%的净收入增长增添了一些背景。我们认为,可能还有其他方面正在积极影响公司的收益增长。例如,公司管理层可能做出了一些良好的战略决策,或者公司的派息率较低。
然后,我们将旧共和国际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14%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:ORI过去的收益增长2022年9月25日盈利增长是评估一只股票时需要考虑的一个重要指标。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,旧共和国际的估值是否公平?这3个估值指标可能会帮助你做出决定。
旧共和国际是否有效地利用了它的利润?
旧共和国际的三年中值派息率为28%,略低。该公司将保留剩余的72%。这表明它的股息得到了很好的覆盖,考虑到我们上面讨论的高增长,老共和国国际似乎正在有效地对其收益进行再投资。
此外,旧共和国际至少在十年内派发了股息,这意味着该公司对与股东分享利润是相当认真的。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将升至49%。因此,派息率的预期上升解释了为什么公司同期的净资产收益率(ROE)预计将下降至11%。
结论
整体来说,我们觉得旧共和国际的表现相当不错。具体地说,我们喜欢该公司将一大笔利润以高回报率进行再投资。当然,这导致该公司的收益出现了大幅增长。话虽如此,在研究最新的分析师预测时,我们发现,尽管该公司过去的收益有所增长,但分析师预计其未来收益将缩水。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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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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