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Declining Stock and Decent Financials: Is The Market Wrong About MDU Resources Group, Inc. (NYSE:MDU)?
Declining Stock and Decent Financials: Is The Market Wrong About MDU Resources Group, Inc. (NYSE:MDU)?
With its stock down 12% over the past month, it is easy to disregard MDU Resources Group (NYSE:MDU). However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. Particularly, we will be paying attention to MDU Resources Group'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 simpler terms, it measures the profitability of a company in relation to shareholder's equity.
View our latest analysis for MDU Resources Group
How Do You 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 MDU Resources Group is:
9.7% = US$328m ÷ US$3.4b (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 $0.10 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.
MDU Resources Group's Earnings Growth And 9.7% ROE
At first glance, MDU Resources Group's ROE doesn't look very promising. However, given that the company's ROE is similar to the average industry ROE of 9.7%, we may spare it some thought. Even so, MDU Resources Group has shown a fairly decent growth in its net income which grew at a rate of 9.2%. Considering the moderately low ROE, it is quite possible that there might be some 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 MDU Resources Group's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 12% in the same period, which is a bit concerning.
NYSE:MDU Past Earnings Growth September 28th 2022Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if MDU Resources Group is trading on a high P/E or a low P/E, relative to its industry.
Is MDU Resources Group Using Its Retained Earnings Effectively?
MDU Resources Group has a healthy combination of a moderate three-year median payout ratio of 46% (or a retention ratio of 54%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.
Additionally, MDU Resources Group 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. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 41% of its profits over the next three years. However, MDU Resources Group's ROE is predicted to rise to 12% despite there being no anticipated change in its payout ratio.
Conclusion
Overall, we feel that MDU Resources Group certainly does have some positive factors to consider. Namely, its respectable earnings growth, which it achieved due to it retaining most of its profits. However, given the low ROE, investors may not be benefitting from all that reinvestment after all. 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.
MDU Resources Group(纽约证券交易所代码:MDU)的股价在过去一个月里下跌了12%,人们很容易忽视它。然而,股价通常是由公司的长期财务状况推动的,在这种情况下,财务状况看起来相当不错。特别是,今天我们将关注MDU Resources Group的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,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MDU资源组的最新分析
你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,MDU Resources Group的ROE为:
9.7%=3.28亿美元?34亿美元(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。另一种想法是,每价值1美元的股本,公司就能够赚取0.10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。
MDU资源集团的收益增长和9.7%的净资产收益率
乍一看,MDU Resources Group的ROE看起来并不是很有希望。然而,鉴于该公司的净资产收益率(ROE)与9.7%的行业平均ROE相似,我们或许可以省去一些思考。尽管如此,MDU Resources Group的净收入仍有相当不错的增长,增长率为9.2%。考虑到较低的净资产收益率,很有可能还有一些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MDU Resources Group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12%的行业平均增长率,这有点令人担忧。
纽约证券交易所:MDU过去的收益增长2022年9月28日盈利增长是评估一只股票时需要考虑的一个重要指标。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。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。衡量预期收益增长的一个很好的指标是市盈率,它根据一只股票的盈利前景决定市场愿意为其支付的价格。因此,你可能想要检查MDU Resources Group相对于其行业是高市盈率还是低市盈率。
MDU Resources Group是否有效地利用了其留存收益?
如上所述,MDU Resources Group拥有46%的适度三年中值派息率(或54%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,MDU Resources Group在至少十年的时间里支付了股息,这意味着该公司非常认真地与股东分享利润。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41%的利润。然而,MDU Resources Group的净资产收益率预计将上升至12%,尽管其派息率没有预期的变化。
结论
总体而言,我们认为MDU Resources Group确实有一些积极的因素需要考虑。即其可观的收益增长,这要归功于它保留了大部分利润。然而,鉴于净资产收益率较低,投资者可能终究不会从所有这些再投资中受益。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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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。
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