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Warrior Met Coal, Inc.'s (NYSE:HCC) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Warrior Met Coal, Inc.'s (NYSE:HCC) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
It is hard to get excited after looking at Warrior Met Coal's (NYSE:HCC) recent performance, when its stock has declined 23% over the past month. However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. Particularly, we will be paying attention to Warrior Met Coal's ROE today.
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Put another way, it reveals the company's success at turning shareholder investments into profits.
See our latest analysis for Warrior Met Coal
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 Warrior Met Coal is:
48% = US$620m ÷ US$1.3b (Based on the trailing twelve months to June 2022).
The 'return' is the income the business earned over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.48 in profit.
What Is The Relationship Between ROE And 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.
Warrior Met Coal's Earnings Growth And 48% ROE
Firstly, we acknowledge that Warrior Met Coal has a significantly high ROE. Secondly, even when compared to the industry average of 21% the company's ROE is quite impressive. For this reason, Warrior Met Coal's five year net income decline of 24% raises the question as to why the high ROE didn't translate into earnings growth. So, there might be some other aspects that could explain this. Such as, the company pays out a huge portion of its earnings as dividends, or is faced with competitive pressures.
So, as a next step, we compared Warrior Met Coal'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 28% in the same period.
NYSE:HCC Past Earnings Growth September 26th 2022Earnings 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. This then helps them determine if the stock is placed for a bright or bleak future. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Warrior Met Coal is trading on a high P/E or a low P/E, relative to its industry.
Is Warrior Met Coal Efficiently Re-investing Its Profits?
Warrior Met Coal's low three-year median payout ratio of 1.8% (or a retention ratio of 98%) over the last three years should mean that the company is retaining most of its earnings to fuel its growth but the company's earnings have actually shrunk. This typically shouldn't be the case when a company is retaining most of its earnings. So there might be other factors at play here which could potentially be hampering growth. For instance, the business has faced some headwinds.
In addition, Warrior Met Coal has been paying dividends over a period of five years suggesting that keeping up dividend payments is preferred by the management even though earnings have been in decline. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to rise to 4.1% over the next three years. Therefore, the expected rise in the payout ratio explains why the company's ROE is expected to decline to 14% over the same period.
Summary
Overall, we feel that Warrior Met Coal certainly does have some positive factors to consider. However, given the high ROE and high profit retention, we would expect the company to be delivering strong earnings growth, but that isn't the case here. This suggests that there might be some external threat to the business, that's hampering its growth. Additionally, the latest industry analyst forecasts show that analysts expect the company's earnings to continue to shrink in the future. 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Warrior Met Coal(紐約證券交易所股票代碼:HCC)最近的表現,人們很難對其感到興奮,因為它的股價在過去一個月裏下跌了23%。然而,該公司的基本面看起來相當不錯,長期財務狀況通常與未來的市場價格走勢保持一致。特別是今天我們將關注勇士Met Coal的淨資產收益率。
淨資產收益率,即股本回報率,是評估一家公司從股東那裏獲得投資回報的有效程度的有用工具。換句話説,它揭示了該公司成功地將股東投資轉化為利潤。
查看我們對Warrior Met Coal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,根據上面的公式,Warrior Met Coal的ROE為:
48%=6.2億美元×13億美元(基於截至2022年6月的12個月的往績)。
“回報”指的是企業在過去一年中獲得的收入。這意味着,股東權益每增加1美元,公司就會產生0.48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。
勇士Met Coal的收益增長和48%的淨資產收益率
首先,我們承認Warrior Met Coal擁有顯著較高的淨資產收益率。其次,即使與21%的行業平均水平相比,該公司的淨資產收益率也相當令人印象深刻。出於這個原因,Warrior Met Coal的五年淨利潤下降了24%,這讓人不禁要問,為什麼高淨資產收益率並沒有轉化為收益增長。因此,可能還有其他一些方面可以解釋這一點。例如,公司將很大一部分收益作為股息支付,或者面臨競爭壓力。
因此,下一步,我們將Warrior Met Coal的表現與行業進行了比較,並失望地發現,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28%的速度增長。
紐約證券交易所:HCC過去的收益增長2022年9月26日盈利增長是股票估值的一個重要因素。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。衡量預期收益增長的一個很好的指標是市盈率,它根據一隻股票的盈利前景決定市場願意為其支付的價格。因此,你可能想看看Warrior Met Coal相對於其行業是高市盈率還是低市盈率。
勇士大都會煤炭公司是否有效地對其利潤進行了再投資?
Wrior Met Coal過去三年的低三年中值派息率為1.8%(或者説留存率為98%),這應該意味着該公司將保留大部分收益來推動增長,但該公司的收益實際上已經縮水。當一家公司保留了大部分收益時,通常不應該出現這種情況。因此,可能還有其他因素在起作用,可能會阻礙經濟增長。例如,該業務一直面臨一些不利因素。
此外,Warrior Met Coal在過去五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。在研究了最新的分析師共識數據後,我們發現,該公司未來三年的派息率預計將上升至4.1%。因此,派息率的預期上升解釋了為什麼公司同期的淨資產收益率(ROE)預計將下降至14%。
摘要
總體而言,我們認為,勇士Met Coal確實有一些積極的因素需要考慮。然而,考慮到高淨資產收益率和高利潤保留率,我們預計該公司將實現強勁的收益增長,但這裏的情況並非如此。這表明,該業務可能面臨一些外部威脅,這正在阻礙其增長。此外,最新的行業分析師預測顯示,分析師預計該公司未來的收益將繼續萎縮。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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