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Benchmark Electronics, Inc.'s (NYSE:BHE) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Benchmark Electronics, Inc.'s (NYSE:BHE) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
With its stock down 12% over the past month, it is easy to disregard Benchmark Electronics (NYSE:BHE). However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. Particularly, we will be paying attention to Benchmark Electronics' ROE today.
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.
Check out our latest analysis for Benchmark Electronics
How To Calculate Return On Equity?
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 Benchmark Electronics is:
4.9% = US$49m ÷ US$986m (Based on the trailing twelve months to June 2022).
The 'return' is the yearly profit. That means that for every $1 worth of shareholders' equity, the company generated $0.05 in profit.
Why Is ROE Important For 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.
A Side By Side comparison of Benchmark Electronics' Earnings Growth And 4.9% ROE
When you first look at it, Benchmark Electronics' ROE doesn't look that attractive. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 14% either. However, we we're pleasantly surprised to see that Benchmark Electronics grew its net income at a significant rate of 20% in the last five years. We reckon that there could be other factors at play here. For instance, the company has a low payout ratio or is being managed efficiently.
As a next step, we compared Benchmark Electronics' net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 17% in the same period.
NYSE:BHE Past Earnings Growth September 27th 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. 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 Benchmark Electronics is trading on a high P/E or a low P/E, relative to its industry.
Is Benchmark Electronics Making Efficient Use Of Its Profits?
Benchmark Electronics has a significant three-year median payout ratio of 75%, meaning the company only retains 25% of its income. This implies that the company has been able to achieve high earnings growth despite returning most of its profits to shareholders.
Additionally, Benchmark Electronics has paid dividends over a period of four years which means that the company is pretty serious about sharing its profits with shareholders.
Conclusion
Overall, we feel that Benchmark Electronics certainly does have some positive factors to consider. That is, quite an impressive growth in earnings. However, the low profit retention means that the company's earnings growth could have been higher, had it been reinvesting a higher portion of its profits. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts 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.
在過去的一個月裏,其股價下跌了12%,很容易忽視Benchmark Electronics(紐約證券交易所代碼:BHE)。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。特別是,今天我們將關注Benchmark Electronics的淨資產收益率(ROE)。
股本回報率(ROE)是用來評估公司管理層利用公司資本效率的關鍵指標。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Benchmark Electronics的最新分析
如何計算股本回報率?
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,Benchmark Electronics的淨資產收益率為:
4.9%=4900萬美元×9.86億美元(基於截至2022年6月的12個月的往績)。
“回報”就是年度利潤。這意味着,股東權益每增加1美元,公司就會產生0.05美元的利潤。
為什麼淨資產收益率對收益增長很重要?
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。
Benchmark Electronics盈利增長與4.9%淨資產收益率的並列比較
當你第一次看到它時,Benchmark Electronics的淨資產收益率(ROE)看起來並不那麼吸引人。一項快速的進一步研究顯示,該公司的淨資產收益率(ROE)也不及14%的行業平均水平。然而,我們驚喜地看到,基準電子在過去五年中以20%的顯著速度增長了淨收入。我們認為,可能還有其他因素在起作用。例如,該公司的派息率較低或管理效率較高。
作為下一步,我們將Benchmark Electronics的淨收入增長與行業進行了比較,發現該公司的增長數字與同期17%的行業平均增長率相似。
紐約證券交易所:超過2022年9月27日的收益增長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。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Benchmark Electronics的市盈率相對於其行業是高市盈率還是低市盈率。
Benchmark Electronics是否在有效利用其利潤?
Benchmark Electronics的三年派息率中值高達75%,這意味着該公司只保留了收入的25%。這意味着,儘管該公司將大部分利潤返還給股東,但仍能夠實現高收益增長。
此外,Benchmark Electronics在四年內派發了股息,這意味着該公司對與股東分享利潤非常認真。
結論
總體而言,我們認為Benchmark Electronics確實有一些積極的因素需要考慮。也就是説,收益的增長相當可觀。然而,較低的利潤留存意味着,如果該公司將更高比例的利潤進行再投資,其收益增長可能會更高。儘管如此,最新的行業分析師預測顯示,該公司的收益預計將加速增長。要了解更多分析師對該公司的最新預測,請查看分析師對該公司預測的可視化。
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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