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Mueller Water Products, Inc.'s (NYSE:MWA) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Mueller Water Products, Inc.'s (NYSE:MWA) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
It is hard to get excited after looking at Mueller Water Products' (NYSE:MWA) recent performance, when its stock has declined 11% over the past three months. However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. In this article, we decided to focus on Mueller Water Products' 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. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
View our latest analysis for Mueller Water Products
How Is ROE Calculated?
The formula for return on equity is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Mueller Water Products is:
12% = US$88m ÷ US$704m (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 Is The Relationship Between ROE And Earnings Growth?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
Mueller Water Products' Earnings Growth And 12% ROE
At first glance, Mueller Water Products seems to have a decent ROE. Even when compared to the industry average of 13% the company's ROE looks quite decent. Given the circumstances, we can't help but wonder why Mueller Water Products saw little to no growth in the past five years. We reckon that there could be some other factors at play here that's limiting the company's growth. For example, it could be that the company has a high payout ratio or the business has allocated capital poorly, for instance.
As a next step, we compared Mueller Water Products' net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 8.4% in the same period.
NYSE:MWA Past Earnings Growth September 5th 2022The 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. This then helps them determine if the stock is placed for a bright or bleak future. Is MWA fairly valued? This infographic on the company's intrinsic value has everything you need to know.
Is Mueller Water Products Efficiently Re-investing Its Profits?
Despite having a moderate three-year median payout ratio of 45% (meaning the company retains55% of profits) in the last three-year period, Mueller Water Products' earnings growth was more or les flat. So there could be some other explanation in that regard. For instance, the company's business may be deteriorating.
Additionally, Mueller Water Products has paid dividends over a period of at least ten years, which means that the company's management is determined to pay dividends even if it means little to no earnings growth. Existing analyst estimates suggest that the company's future payout ratio is expected to drop to 32% over the next three years.
Summary
In total, it does look like Mueller Water Products has some positive aspects to its business. 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 analyst forecasts show that the company will continue to see an expansion in its earnings. 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.
在看到Mueller Water Products(紐約證券交易所代碼:MWA)最近的表現後,很難感到興奮,因為它的股票在過去三個月裏下跌了11%。然而,股價通常是由公司的長期財務狀況推動的,在這種情況下,財務狀況看起來相當不錯。在本文中,我們決定將重點放在Mueller Water Products的ROE上。
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。換句話説,這是一個衡量公司股東提供的資本回報率的盈利比率。
查看我們對米勒水務產品的最新分析
淨資產收益率是如何計算的?
這個股本回報率公式是:
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,Mueller Water Products的淨資產收益率為:
12%=8800萬美元×7.04億美元(基於截至2022年6月的12個月)。
“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之間有什麼關係?
到目前為止,我們已經瞭解到淨資產收益率衡量的是一家公司創造利潤的效率。我們現在需要評估公司將多少利潤再投資或“保留”用於未來的增長,這就讓我們對公司的增長潛力有了一個瞭解。一般來説,在其他條件相同的情況下,股本回報率和利潤留存較高的公司比不具備這些特徵的公司有更高的增長率。
米勒水務的收益增長和12%的淨資產收益率
乍一看,Mueller Water Products似乎擁有不錯的淨資產回報率。即使與13%的行業平均水平相比,該公司的淨資產收益率看起來也相當不錯。在這種情況下,我們不禁要問,為什麼米勒水務在過去五年裏幾乎沒有增長。我們認為,可能還有一些其他因素在發揮作用,限制了公司的增長。例如,可能是公司的派息率很高,或者企業的資本配置不當。
作為下一步,我們將米勒水產品的淨收入增長與行業進行了比較,失望地看到該公司的增長低於同期8.4%的行業平均增長。
紐約證券交易所:MWA過去的收益增長2022年9月5日賦予一家公司價值的基礎在很大程度上與其盈利增長掛鈎。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。這有助於他們確定這隻股票是為光明還是黯淡的未來做準備。MWA的價值是否公平?這張關於公司內在價值的信息圖包含了你需要知道的一切。
Mueller Water Products是否有效地將其利潤進行了再投資?
儘管米勒水務過去三年的中值派息率為45%(這意味着該公司保留了55%的利潤),但該公司的收益增長或多或少持平。因此,在這方面可能有一些其他的解釋。例如,該公司的業務可能正在惡化。
此外,Mueller Water Products在至少十年的時間裏支付了股息,這意味着公司管理層決心支付股息,即使這意味着收益幾乎沒有增長。分析師現有的預估顯示,該公司未來三年的派息率預計將降至32%。
摘要
總體而言,看起來Mueller Water Products確實有一些積極的業務方面。然而,低收益增長有點令人擔憂,特別是考慮到該公司擁有高回報率,並將大部分利潤進行再投資。從表面上看,可能還有其他一些因素正在阻礙增長,這些因素並不一定是控制企業的因素。既然如此,最新的分析師預測顯示,該公司的收益將繼續增長。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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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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