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Declining Stock and Solid Fundamentals: Is The Market Wrong About American States Water Company (NYSE:AWR)?
Declining Stock and Solid Fundamentals: Is The Market Wrong About American States Water Company (NYSE:AWR)?
It is hard to get excited after looking at American States Water's (NYSE:AWR) recent performance, when its stock has declined 8.2% over the past month. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Particularly, we will be paying attention to American States Water's ROE today.
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. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
View our latest analysis for American States Water
How To Calculate Return On Equity?
Return on equity can be calculated by using the formula:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for American States Water is:
12% = US$83m ÷ US$694m (Based on the trailing twelve months to June 2022).
The 'return' is the amount earned after tax over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.12 in profit.
What Has ROE Got To Do With 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. 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.
American States Water's Earnings Growth And 12% ROE
To begin with, American States Water seems to have a respectable ROE. Further, the company's ROE compares quite favorably to the industry average of 8.4%. This probably laid the ground for American States Water's moderate 8.1% net income growth seen over the past five years.
Next, on comparing American States Water's net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 7.9% in the same period.
NYSE:AWR Past Earnings Growth September 3rd 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 American States Water fairly valued compared to other companies? These 3 valuation measures might help you decide.
Is American States Water Efficiently Re-investing Its Profits?
The high three-year median payout ratio of 54% (or a retention ratio of 46%) for American States Water suggests that the company's growth wasn't really hampered despite it returning most of its income to its shareholders.
Besides, American States Water has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Our latest analyst data shows that the future payout ratio of the company over the next three years is expected to be approximately 60%. Accordingly, forecasts suggest that American States Water's future ROE will be 14% which is again, similar to the current ROE.
Summary
On the whole, we feel that American States Water's performance has been quite good. We are particularly impressed by the considerable earnings growth posted by the company, which was likely backed by its high ROE. While the company is paying out most of its earnings as dividends, it has been able to grow its earnings in spite of it, so that's probably a good sign. On studying current analyst estimates, we found that analysts expect the company to continue its recent growth streak. 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.
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.
看到American States Water(NYSE:AWR)最近的表現,很難感到興奮,它的股價在過去一個月裏下跌了8.2%。然而,仔細看看它穩健的財務狀況可能會讓你重新考慮。鑑於基本面因素通常會推動長期市場結果,該公司值得關注。今天,我們將特別關注美國各州水務公司的淨資產收益率。
股本回報率或淨資產收益率是股東要考慮的一個重要因素,因為它告訴他們他們的資本再投資的效率。簡而言之,淨資產收益率顯示了每一美元相對於其股東投資產生的利潤。
查看我們對美國各州水的最新分析
如何計算股本回報率?
股本回報率可使用以下公式計算:
股本回報率=(持續經營的)淨利潤?股東權益
因此,根據上述公式,美國各州水的淨資產收益率為:
12%=8300萬美元×6.94億美元(基於截至2022年6月的12個月的往績)。
“報税表”是過去12個月的税後收入。這意味着,股東權益每增加1美元,公司就會產生0.12美元的利潤。
淨資產收益率與盈利增長有什麼關係?
到目前為止,我們瞭解到淨資產收益率是衡量一家公司盈利能力的指標。根據公司選擇再投資或“保留”多少利潤,我們就能夠評估一家公司未來產生利潤的能力。假設其他條件相同,與沒有相同特徵的公司相比,擁有更高股本回報率和更高利潤保留率的公司通常會有更高的增長率。
美國各州水務的收益增長和12%的淨資產收益率
首先,美國各州的水資源似乎有令人尊敬的淨資產收益率。此外,該公司的淨資產收益率(ROE)與8.4%的行業平均水平相比相當有利。這可能為美國各州水務公司在過去五年中淨收入温和增長8.1%奠定了基礎。
接下來,對比美國各州水務的淨收入增長與行業,我們發現,該公司報告的增長與同期7.9%的行業平均增長率相似。
紐約證券交易所:AWR過去的收益增長2022年9月3日盈利增長是股票估值的一個重要因素。投資者下一步需要確定的是,預期的收益增長是否已經計入了股價。這樣做將有助於他們確定該股的未來看起來是光明的還是不祥的。與其他公司相比,美國各州的水務公司的價值是否公平?這3個估值指標可能會幫助你做出決定。
美國各州水務公司是否有效地對其利潤進行了再投資?
American States Water高達54%的三年中值派息率(或46%的留存率)表明,儘管該公司將大部分收入返還給股東,但該公司的增長並未受到真正的阻礙。
此外,美國各州水務公司至少在十年或更長時間內一直在支付紅利。這表明該公司致力於與股東分享利潤。我們最新的分析師數據顯示,該公司未來三年的派息率預計約為60%。因此,預測表明,美國各州水務公司未來的淨資產收益率將為14%,與目前的淨資產收益率相似。
摘要
整體而言,我們覺得美國各州水務的表現相當不錯。該公司公佈的可觀收益增長給我們留下了特別深刻的印象,這可能是由其高ROE支持的。雖然該公司將大部分收益作為股息支付,但它仍然能夠實現收益增長,因此這可能是一個好跡象。在研究了分析師目前的預測後,我們發現,分析師預計該公司將繼續最近的增長勢頭。要了解更多有關該公司未來收益增長預測的信息,請查看以下內容免費報告分析師對該公司的預測,以瞭解更多信息。
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
風險及免責聲明
moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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