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Are Strong Financial Prospects The Force That Is Driving The Momentum In Ferretti S.p.A.'s HKG:9638) Stock?
Are Strong Financial Prospects The Force That Is Driving The Momentum In Ferretti S.p.A.'s HKG:9638) Stock?
Ferretti (HKG:9638) has had a great run on the share market with its stock up by a significant 7.7% over the last week. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes. In this article, we decided to focus on Ferretti's ROE.
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 short, ROE shows the profit each dollar generates with respect to its shareholder investments.
See our latest analysis for Ferretti
How Do You 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 Ferretti is:
5.9% = €44m ÷ €748m (Based on the trailing twelve months to June 2022).
The 'return' is the yearly profit. Another way to think of that is that for every HK$1 worth of equity, the company was able to earn HK$0.06 in profit.
What Is The Relationship Between ROE And 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. 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.
A Side By Side comparison of Ferretti's Earnings Growth And 5.9% ROE
At first glance, Ferretti's ROE doesn't look very promising. However, the fact that the its ROE is quite higher to the industry average of 4.1% doesn't go unnoticed by us. This certainly adds some context to Ferretti's moderate 9.8% net income growth seen over the past five years. That being said, the company does have a slightly low ROE to begin with, just that it is higher than the industry average. So there might well be other reasons for the earnings to grow. For example, it is possible that the broader industry is going through a high growth phase, or that the company has a low payout ratio.
When you consider the fact that the industry earnings have shrunk at a rate of 9.0% in the same period, the company's net income growth is pretty remarkable.
SEHK:9638 Past Earnings Growth November 6th 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 Ferretti fairly valued compared to other companies? These 3 valuation measures might help you decide.
Is Ferretti Using Its Retained Earnings Effectively?
Ferretti's three-year median payout ratio to shareholders is 13% (implying that it retains 87% of its income), which is on the lower side, so it seems like the management is reinvesting profits heavily to grow its business.
While Ferretti has seen growth in its earnings, it only recently started to pay a dividend. It is most likely that the company decided to impress new and existing shareholders with a dividend. Our latest analyst data shows that the future payout ratio of the company over the next three years is expected to be approximately 13%. However, Ferretti's ROE is predicted to rise to 8.2% despite there being no anticipated change in its payout ratio.
Summary
On the whole, we feel that Ferretti's performance has been quite good. Specifically, we like that it has been reinvesting a high portion of its profits at a moderate rate of return, resulting in earnings expansion. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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.
法拉帝(HKG:9638)在股票市场上表现出色,其股票在过去一周大幅上涨7.7%。鉴于该公司令人印象深刻的业绩,我们决定更仔细地研究其财务指标,因为公司的长期财务健康状况通常决定着市场结果。在本文中,我们决定将重点放在Ferretti的ROE上。
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,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。
查看我们对费雷蒂的最新分析
你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,根据上面的公式,Ferretti的净资产收益率为:
5.9%=4400万欧元×7.48亿欧元(基于截至2022年6月的12个月的往绩)。
“回报”就是年度利润。另一种说法是,该公司每持有价值1港元的股票,就能赚取0.06港元的利润。
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。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。
费雷蒂盈利增长与5.9%净资产收益率的并列比较
乍一看,费雷蒂的净资产收益率看起来并不是很有希望。然而,ITS的净资产收益率(ROE)相当高,高于4.1%的行业平均水平,这一事实并不是没有引起我们的注意。这无疑为法拉蒂在过去五年中实现的9.8%的净利润温和增长增添了一些背景。话虽如此,该公司一开始的净资产收益率确实略低,只是高于行业平均水平。因此,盈利增长很可能还有其他原因。例如,更广泛的行业可能正在经历高增长阶段,或者公司的派息率较低。
当你考虑到同期行业收益以9.0%的速度缩水时,该公司的净收入增长相当可观。
联交所:9638过去盈利增长2022年11月6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,法雷蒂的估值是否公平?这3个估值指标可能会帮助你做出决定。
法拉蒂是否有效地利用了其留存收益?
Ferretti对股东的三年派息率中值为13%(这意味着它保留了87%的收入),这一比率处于较低水平,因此管理层似乎正在将利润进行大量再投资,以实现业务增长。
虽然Ferretti的收益有所增长,但它最近才开始支付股息。最有可能的是,该公司决定用股息给新股东和现有股东留下深刻印象。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13%。然而,尽管派息率没有预期的变化,但法雷蒂的净资产收益率预计将上升至8.2%。
摘要
总的来说,我们觉得费雷蒂的表现相当不错。具体地说,我们喜欢它一直在以适度的回报率将高比例利润进行再投资,导致收益扩大。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。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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