Do Fundamentals Have Any Role To Play In Driving Tidewater Inc.'s (NYSE:TDW) Stock Up Recently?
Do Fundamentals Have Any Role To Play In Driving Tidewater Inc.'s (NYSE:TDW) Stock Up Recently?
Most readers would already know that Tidewater's (NYSE:TDW) stock increased by 8.9% over the past three months. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. Particularly, we will be paying attention to Tidewater's ROE today.
大多数读者应该已经知道，Tidewater(纽约证券交易所股票代码：TDW)的股票在过去三个月里上涨了8.9%。我们想知道，由于一家公司的长期基本面通常决定着市场结果，该公司的财务状况是否以及在价格变化中扮演了什么角色。特别是，今天我们将关注Tidewater的净资产收益率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
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，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。
View our latest analysis for Tidewater
查看我们对潮水的最新分析
How Do You Calculate Return On Equity?
你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 Tidewater is:
因此，根据上述公式，潮水的净资产收益率为：
5.4% = US$48m ÷ US$893m (Based on the trailing twelve months to June 2023).
5.4%=4800万美元×8.93亿美元(基于截至2023年6月的12个月)。
The 'return' is the profit 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 $0.05 in profit.
“收益”是过去12个月的利润。另一种想法是，每价值1美元的股本，公司就能够赚取0.05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. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. 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。根据公司将这些利润再投资或“保留”多少，以及这样做的效率如何，我们就能够评估一家公司的收益增长潜力。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。
Tidewater's Earnings Growth And 5.4% ROE
Tidewater的收益增长和5.4%的净资产收益率
When you first look at it, Tidewater's ROE doesn't look that attractive. We then compared the company's ROE to the broader industry and were disappointed to see that the ROE is lower than the industry average of 14%. Despite this, surprisingly, Tidewater saw an exceptional 46% net income growth over the past five years. We reckon that there could be other factors at play here. 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.
当你第一次看到它时，Tidewater的净资产收益率(ROE)看起来并不那么吸引人。然后，我们将该公司的净资产收益率(ROE)与更广泛的行业进行了比较，发现净资产收益率低于行业平均水平14%，这让我们感到失望。尽管如此，令人惊讶的是，Tidewater在过去五年中的净收入增长了46%。我们认为，可能还有其他因素在起作用。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。
We then compared Tidewater's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 25% in the same 5-year period.
然后，我们将Tidewater的净收入增长与行业进行了比较，我们很高兴地看到，与行业相比，该公司的增长数字更高，后者在同一5年期间的增长率为25%。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. If you're wondering about Tidewater's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
赋予一家公司价值的基础在很大程度上与其盈利增长挂钩。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。如果你想知道Tidewater的估值，看看这个衡量其市盈率的指标，与其行业相比。
Is Tidewater Using Its Retained Earnings Effectively?
Tidewater是否有效地利用了其留存收益？
Tidewater doesn't pay any dividend currently which essentially means that it has been reinvesting all of its profits into the business. This definitely contributes to the high earnings growth number that we discussed above.
Tidewater目前不支付任何股息，这实质上意味着它一直在将所有利润再投资于这项业务。这无疑是我们上面讨论的高收益增长数字的原因。
Conclusion
结论
On the whole, we do feel that Tidewater has some positive attributes. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总体而言，我们确实觉得潮水有一些积极的属性。凭借高再投资率，尽管净资产收益率较低，该公司的收益实现了相当大的增长。既然如此，最新的分析师预测显示，该公司的收益将继续增长。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。
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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。