Are Strong Financial Prospects The Force That Is Driving The Momentum In Molina Healthcare, Inc.'s NYSE:MOH) Stock?
Are Strong Financial Prospects The Force That Is Driving The Momentum In Molina Healthcare, Inc.'s NYSE:MOH) Stock?
Most readers would already be aware that Molina Healthcare's (NYSE:MOH) stock increased significantly by 17% over the past three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. Particularly, we will be paying attention to Molina Healthcare's ROE today.
大多数读者应该已经知道，Molina Healthcare(纽约证券交易所股票代码：MOH)的股票在过去三个月里大幅上涨了17%。由于市场通常为公司的长期基本面买单，我们决定研究公司的关键业绩指标，看看它们是否会影响市场。特别是，我们今天将关注Molina Healthcare的净资产收益率(ROE)。
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.
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。
See our latest analysis for Molina Healthcare
查看我们对Molina Healthcare的最新分析
How To Calculate Return On Equity?
如何计算股本回报率？
The formula for return on equity is:
这个股本回报率公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润？股东权益
So, based on the above formula, the ROE for Molina Healthcare is:
因此，根据上述公式，Molina Healthcare的净资产收益率为：
25% = US$916m ÷ US$3.6b (Based on the trailing twelve months to June 2023).
25%=9.16亿美元×36亿美元(基于截至2023年6月的12个月)。
The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.25.
“回报”就是年度利润。因此，这意味着股东每投资1美元，公司就会产生0.25美元的利润。
What Has ROE Got To Do With Earnings Growth?
净资产收益率与盈利增长有什么关系？
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. 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.
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。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。
Molina Healthcare's Earnings Growth And 25% ROE
Molina Healthcare的收益增长和25%的净资产收益率
Firstly, we acknowledge that Molina Healthcare has a significantly high ROE. Additionally, the company's ROE is higher compared to the industry average of 11% which is quite remarkable. This likely paved the way for the modest 11% net income growth seen by Molina Healthcare over the past five years.
首先，我们承认Molina Healthcare拥有显著较高的净资产收益率。此外，该公司的净资产收益率(ROE)高于11%的行业平均水平，这是相当了不起的。这可能为Molina Healthcare在过去五年中实现11%的适度净利润增长铺平了道路。
As a next step, we compared Molina Healthcare's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 11% in the same period.
下一步，我们将Molina Healthcare的净收入增长与行业进行比较，发现该公司的增长数字与同期11%的行业平均增长率相似。
Earnings 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. This then helps them determine if the stock is placed for a bright or bleak future. 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 Molina Healthcare is trading on a high P/E or a low P/E, relative to its industry.
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。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。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，你可能想看看Molina Healthcare相对于其行业是高市盈率还是低市盈率。
Is Molina Healthcare Making Efficient Use Of Its Profits?
Molina Healthcare是否有效地利用了其利润？
Molina Healthcare doesn't pay any dividend, meaning that all of its profits are being reinvested in the business, which explains the fair bit of earnings growth the company has seen.
Molina Healthcare不支付任何股息，这意味着它的所有利润都将再投资于业务，这就解释了该公司的收益增长相当可观。
Summary
摘要
On the whole, we feel that Molina Healthcare'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. 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.
整体而言，我们觉得Molina Healthcare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，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。
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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。