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Are NVent Electric Plc's (NYSE:NVT) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?
Are NVent Electric Plc's (NYSE:NVT) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?
nVent Electric (NYSE:NVT) has had a rough month with its share price down 7.6%. But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. Particularly, we will be paying attention to nVent Electric's ROE today.
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.
See our latest analysis for nVent Electric
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 nVent Electric is:
11% = US$289m ÷ US$2.6b (Based on the trailing twelve months to June 2022).
The 'return' is the amount earned after tax 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 $0.11 in profit.
What Is The Relationship Between ROE And Earnings Growth?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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. 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.
nVent Electric's Earnings Growth And 11% ROE
At first glance, nVent Electric seems to have a decent ROE. Further, the company's ROE is similar to the industry average of 12%. For this reason, nVent Electric's five year net income decline of 17% raises the question as to why the decent ROE didn't translate into growth. Based on this, we feel that there might be other reasons which haven't been discussed so far in this article that could be hampering 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.
So, as a next step, we compared nVent Electric's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 9.4% in the same period.
NYSE:NVT Past Earnings Growth September 20th 2022The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Is NVT fairly valued? This infographic on the company's intrinsic value has everything you need to know.
Is nVent Electric Making Efficient Use Of Its Profits?
In spite of a normal three-year median payout ratio of 47% (that is, a retention ratio of 53%), the fact that nVent Electric's earnings have shrunk is quite puzzling. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
In addition, nVent Electric has been paying dividends over a period of four years suggesting that keeping up dividend payments is preferred by the management even though earnings have been in decline. Our latest analyst data shows that the future payout ratio of the company over the next three years is expected to be approximately 54%.
Conclusion
In total, it does look like nVent Electric has some positive aspects to its business. Although, we are disappointed to see a lack of growth in earnings even in spite of a high ROE and and a high reinvestment rate. We believe that there might be some outside factors that could be having a negative impact on the business. 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. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
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.
NVent Electric(紐約證券交易所代碼:NVT)經歷了艱難的一個月,其股價下跌了7.6%。但如果你密切關注,你可能會發現,該公司的關鍵財務指標看起來相當不錯,這可能意味着,鑑於市場通常會獎勵更具彈性的長期基本面因素,該股可能會在長期內上漲。今天我們特別關注nVent Electric的淨資產收益率(ROE)。
股本回報率(ROE)是對一家公司增值和管理投資者資金的效率的測試。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nVent Electric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,nVent Electric的ROE為:
11%=2.89億美元×26億美元(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。另一種説法是,公司每持有價值1美元的股票,就能賺取0.11美元的利潤。
淨資產收益率與盈利增長之間有什麼關係?
我們已經證實,淨資產收益率是一家公司未來收益的有效盈利指標。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。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。
NVent Electric的收益增長和11%的淨資產收益率
乍一看,nVent Electric似乎擁有不錯的淨資產收益率。此外,該公司的淨資產收益率(ROE)接近12%的行業平均水平。出於這個原因,nVent Electric的五年淨利潤下降了17%,這讓人不禁要問,為什麼可觀的淨資產收益率並沒有轉化為增長。基於此,我們認為,可能還有本文迄今未討論的其他原因,可能正在阻礙公司的增長。例如,可能是公司的派息率很高,或者企業的資本配置不當。
因此,下一步,我們將nVent Electric的表現與行業進行了比較,令人失望的是,儘管該公司的收益一直在縮水,但同期該行業的收益一直以9.4%的速度增長。
紐約證券交易所:NVT過去的收益增長2022年9月20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。投資者應該嘗試確定預期的收益增長或下降是否已計入價格,無論是哪種情況。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。NVT的價值公平嗎?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。
NVent Electric是否有效地利用了其利潤?
儘管正常的三年中值派息率為47%(即留存率為53%),但nVent Electric的收益縮水的事實相當令人費解。看起來可能還有其他一些原因來解釋這方面的缺乏。例如,這項業務可能正在衰落。
此外,nVent Electric在過去四年裏一直在支付股息,這表明,儘管收益一直在下降,但管理層更傾向於繼續支付股息。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54%。
結論
總體而言,nVent Electric的業務確實有一些積極的方面。然而,我們失望地看到,即使在高ROE和高再投資率的情況下,收益也沒有增長。我們認為,可能有一些外部因素可能正在對業務產生負面影響。既然如此,最新的行業分析師預測顯示,分析師們預計該公司的收益增長率將大幅提高。這些分析師的預期是基於對該行業的廣泛預期,還是基於該公司的基本面?點擊此處進入我們分析師對該公司的預測頁面。
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 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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