Are Aptiv PLC's (NYSE:APTV) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?
Are Aptiv PLC's (NYSE:APTV) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?
With its stock down 11% over the past three months, it is easy to disregard Aptiv (NYSE:APTV). 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 Aptiv's ROE in this article.
在过去的三个月里，Aptiv的股价下跌了11%，人们很容易忽视Aptiv(纽约证券交易所代码：APTV)。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Aptiv的ROE。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回报率或净资产收益率是股东要考虑的一个重要因素，因为它告诉他们他们的资本再投资的效率。换句话说，它揭示了该公司成功地将股东投资转化为利润。
Check out our latest analysis for Aptiv
查看我们针对Aptiv的最新分析
How Do You Calculate Return On Equity?
你如何计算股本回报率？
Return on equity can be calculated by using the formula:
股本回报率可使用以下公式计算：
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 Aptiv is:
因此，根据上面的公式，Aptiv的ROE为：
10% = US$982m ÷ US$9.5b (Based on the trailing twelve months to June 2023).
10%=9.82亿美元？95亿美元(基于截至2023年6月的12个月)。
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.10.
“报税表”是过去12个月的税后收入。因此，这意味着股东每投资1美元，公司就会产生0.10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 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.
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。
A Side By Side comparison of Aptiv's Earnings Growth And 10% ROE
Aptiv盈利增长与10%净资产收益率的并列比较
At first glance, Aptiv seems to have a decent ROE. Even when compared to the industry average of 12% the company's ROE looks quite decent. As you might expect, the 18% net income decline reported by Aptiv is a bit of a surprise. We reckon that there could be some other factors at play here that are preventing the company's growth. These include low earnings retention or poor allocation of capital.
乍一看，阿普蒂夫似乎有不错的净资产收益率。即使与12%的行业平均水平相比，该公司的净资产收益率看起来也相当不错。正如你可能预料到的，Aptiv报告的净收入下降了18%，这有点令人惊讶。我们认为，可能还有其他一些因素在阻碍该公司的增长。这些问题包括低收益留存或资本配置不善。
That being said, we compared Aptiv's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 11% in the same 5-year period.
话虽如此，我们将Aptiv的表现与行业进行了比较，当我们发现尽管该公司的收益缩水了，但该行业在相同的5年内以11%的速度增长了收益，我们对此感到担忧。
Earnings 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). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. What is APTV worth today? The intrinsic value infographic in our free research report helps visualize whether APTV is currently mispriced by the market.
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)。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。APTV今天的价值是多少？我们免费研究报告中的内在价值信息图有助于直观地了解APTV目前是否被市场错误定价。
Is Aptiv Making Efficient Use Of Its Profits?
Aptiv是否有效地利用了其利润？
While the company did payout a portion of its dividend in the past, it currently doesn't pay a dividend. This implies that potentially all of its profits are being reinvested in the business.
虽然该公司过去确实支付了一部分股息，但目前它不支付股息。这意味着，它的所有利润可能都将再投资于该业务。
Conclusion
结论
Overall, we feel that Aptiv certainly does have some positive factors to consider. Yet, the low earnings growth is a bit concerning, especially given that the company has a high rate of return and is reinvesting ma huge portion of its profits. By the looks of it, there could be some other factors, not necessarily in control of the business, that's preventing growth. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
总体而言，我们认为Aptiv确实有一些积极的因素需要考虑。然而，低收益增长有点令人担忧，特别是考虑到该公司拥有高回报率，并将大部分利润进行再投资。从表面上看，可能还有其他一些因素正在阻碍增长，这些因素并不一定是控制企业的因素。既然如此，最新的行业分析师预测显示，分析师们预计该公司的收益增长率将大幅提高。要了解更多有关该公司未来收益增长预测的信息，请查看以下内容免费报告分析师对该公司的预测，以了解更多信息。
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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。