Onto Innovation Inc.'s (NYSE:ONTO) Stock Has Shown A Decent Performance: Have Financials A Role To Play?
Onto Innovation Inc.'s (NYSE:ONTO) Stock Has Shown A Decent Performance: Have Financials A Role To Play?
Most readers would already know that Onto Innovation's (NYSE:ONTO) stock increased by 9.1% over the past three months. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to investigate if the company's decent financials had a hand to play in the recent price move. In this article, we decided to focus on Onto Innovation's ROE.
大多数读者已经知道，Onto Innovation（纽约证券交易所代码：ONTO）的股票在过去三个月中上涨了9.1％。鉴于股票价格通常与公司的长期财务表现一致，我们决定调查该公司的良好财务状况是否在近期的价格变动中发挥了作用。在本文中，我们决定重点关注 Onto Innovation 的投资回报率。
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.
股本回报率或投资回报率是对公司增值和管理投资者资金的有效性的考验。简而言之，投资回报率显示了每美元从其股东投资中产生的利润。
How To Calculate Return On Equity?
如何计算股本回报率？
ROE can be calculated by using the formula:
ROE 可以通过以下公式计算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润（来自持续经营业务）÷ 股东权益
So, based on the above formula, the ROE for Onto Innovation is:
因此，根据上述公式，Onto Innovation的投资回报率为：
7.0% = US$121m ÷ US$1.7b (Based on the trailing twelve months to December 2023).
7.0% = 1.21亿美元 ÷ 17亿美元（基于截至2023年12月的过去十二个月）。
The 'return' is the yearly profit. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.07 in profit.
“回报” 是每年的利润。对此进行概念化的一种方法是，该公司每拥有1美元的股东资本，就能获得0.07美元的利润。
What Is The Relationship Between ROE And Earnings Growth?
投资回报率与收益增长之间有什么关系？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
我们已经确定，投资回报率是衡量公司未来收益的有效盈利指标。然后，我们能够评估公司的收益增长潜力，具体取决于公司对这些利润进行再投资或 “保留” 了多少及其有效性。假设其他条件都一样，与功能不相同的公司相比，具有更高股本回报率和更高利润保留率的公司通常具有更高的增长率。
A Side By Side comparison of Onto Innovation's Earnings Growth And 7.0% ROE
Onto Innovation的收益增长和7.0％的投资回报率的并排比较
On the face of it, Onto Innovation's ROE is not much to talk about. 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, Onto Innovation saw an exceptional 44% net income growth over the past five years. So, there might be other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.
从表面上看，Onto Innovation的投资回报率没什么好谈的。然后，我们将该公司的投资回报率与整个行业进行了比较，但对投资回报率低于行业平均水平的14％感到失望。尽管如此，令人惊讶的是，Onto Innovation在过去五年中实现了惊人的44％的净收入增长。因此，可能还有其他方面对公司的收益增长产生积极影响。例如——高收益留存率或实行高效管理。
We then compared Onto Innovation'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 29% in the same 5-year period.
然后，我们将Onto Innovation的净收入增长与该行业进行了比较，我们很高兴地看到，与同期5年同期增长率为29％的行业相比，该公司的增长数字更高。
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. Doing so will help them establish if the stock's future looks promising or ominous. What is ONTO worth today? The intrinsic value infographic in our free research report helps visualize whether ONTO is currently mispriced by the market.
收益增长是股票估值的重要因素。无论如何，投资者应设法确定预期的收益增长或下降是否已计入其中。这样做将帮助他们确定股票的未来是乐观还是不祥的。ONTO 今天的价值是多少？我们的免费研究报告中的内在价值信息图有助于可视化ONTO目前是否被市场定价错误。
Is Onto Innovation Making Efficient Use Of Its Profits?
Onto Innovation 是否能有效利用其利润？
Given that Onto Innovation doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
鉴于Onto Innovation不向其股东支付任何定期股息，我们推断该公司一直在将其所有利润再投资以发展业务。
Summary
摘要
In total, it does look like Onto Innovation has some positive aspects to its business. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. 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.
总的来说，Onto Innovation的业务看起来确实有一些积极的方面。尽管投资回报率很低，但由于再投资率很高，该公司的收益实现了可观的增长。话虽如此，最新的行业分析师预测显示，该公司的收益增长预计将放缓。要了解有关公司未来收益增长预测的更多信息，请查看这份关于分析师预测的免费报告，以了解更多信息。
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