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Vulcan Materials Company's (NYSE:VMC) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Vulcan Materials Company's (NYSE:VMC) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
With its stock down 11% over the past month, it is easy to disregard Vulcan Materials (NYSE:VMC). However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. Specifically, we decided to study Vulcan Materials' ROE in this article.
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
View our latest analysis for Vulcan Materials
How Is ROE Calculated?
ROE 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 Vulcan Materials is:
9.0% = US$610m ÷ US$6.7b (Based on the trailing twelve months to June 2022).
The 'return' is the income the business earned over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.09 in profit.
What Has ROE Got To Do With Earnings Growth?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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 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.
Vulcan Materials' Earnings Growth And 9.0% ROE
At first glance, Vulcan Materials' ROE doesn't look very promising. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 13% either. Although, we can see that Vulcan Materials saw a modest net income growth of 5.0% over the past five years. So, there might be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.
We then compared Vulcan Materials' net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 19% in the same period, which is a bit concerning.
NYSE:VMC Past Earnings Growth September 25th 2022Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Has the market priced in the future outlook for VMC? You can find out in our latest intrinsic value infographic research report.
Is Vulcan Materials Making Efficient Use Of Its Profits?
Vulcan Materials has a healthy combination of a moderate three-year median payout ratio of 28% (or a retention ratio of 72%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.
Besides, Vulcan Materials has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 23% of its profits over the next three years. Still, forecasts suggest that Vulcan Materials' future ROE will rise to 13% even though the the company's payout ratio is not expected to change by much.
Summary
In total, it does look like Vulcan Materials has some positive aspects to its business. Specifically, its fairly high earnings growth number, which no doubt was backed by the company's high earnings retention. Still, the low ROE means that all that reinvestment is not reaping a lot of benefit to the investors. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts 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.
火神材料公司(纽约证券交易所代码:VMC)的股价在过去一个月里下跌了11%,人们很容易对其置之不理。然而,该公司的基本面看起来相当不错,长期财务状况通常与未来的市场价格走势保持一致。具体地说,我们决定在本文中研究火神材料公司的净资产收益率。
净资产收益率,即股本回报率,是评估一家公司从股东那里获得投资回报的有效程度的有用工具。简而言之,它衡量的是一家公司相对于股东权益的盈利能力。
查看我们对火神材料的最新分析
净资产收益率是如何计算的?
可使用以下公式计算净资产收益率:
股本回报率=(持续经营的)净利润?股东权益
因此,根据上面的公式,火神材料的净资产收益率为:
9.0%=6.1亿美元×67亿美元(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。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0.09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。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。
火神材料的盈利增长和9.0%的净资产收益率
乍一看,火神材料的净资产收益率看起来并不是很有希望。一项快速的进一步研究显示,该公司的净资产收益率(ROE)也不及13%的行业平均水平。不过,我们可以看到,火神材料在过去五年中净收入温和增长了5.0%。因此,可能还有其他方面正在积极影响公司的收益增长。例如,该公司的派息率较低或管理效率较高。
然后我们将火神材料的净收入增长与行业进行了比较,发现该公司的增长数字低于同期19%的行业平均增长率,这有点令人担忧。
纽约证券交易所:VMC过去的收益增长2022年9月25日盈利增长是股票估值的一个重要因素。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。通过这样做,他们将知道股票是将进入清澈的蓝色水域,还是等待沼泽水域。市场反映出VMC的未来前景了吗?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。
火神材料是否有效地利用了它的利润?
正如我们上面看到的,火神材料拥有28%的适度三年中值派息率(或72%的留存率)和可观的收益增长的健康组合,这意味着该公司一直在有效利用其利润。
此外,火神材料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。在研究了最新的分析师共识数据后,我们发现,预计该公司将在未来三年继续支付约23%的利润。尽管如此,预测显示,火神材料未来的净资产收益率将升至13%,尽管该公司的派息率预计不会有太大变化。
摘要
总体而言,瓦肯材料公司的业务确实有一些积极的方面。具体地说,它相当高的收益增长数字,这无疑得到了该公司高收益留存的支持。尽管如此,较低的净资产收益率意味着,所有这些再投资并没有给投资者带来很多好处。话虽如此,但从目前分析师的预估来看,我们发现该公司的盈利势头有望增强。要了解更多分析师对该公司的最新预测,请查看分析师对该公司预测的可视化。
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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