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Declining Stock and Solid Fundamentals: Is The Market Wrong About Archer-Daniels-Midland Company (NYSE:ADM)?
Declining Stock and Solid Fundamentals: Is The Market Wrong About Archer-Daniels-Midland Company (NYSE:ADM)?
It is hard to get excited after looking at Archer-Daniels-Midland's (NYSE:ADM) recent performance, when its stock has declined 8.2% over the past month. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Particularly, we will be paying attention to Archer-Daniels-Midland'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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
View our latest analysis for Archer-Daniels-Midland
How Is ROE Calculated?
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 Archer-Daniels-Midland is:
15% = US$3.6b ÷ US$25b (Based on the trailing twelve months to June 2022).
The 'return' is the income the business earned over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.15 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. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
Archer-Daniels-Midland's Earnings Growth And 15% ROE
To begin with, Archer-Daniels-Midland seems to have a respectable ROE. Even when compared to the industry average of 14% the company's ROE looks quite decent. Consequently, this likely laid the ground for the decent growth of 15% seen over the past five years by Archer-Daniels-Midland.
We then compared Archer-Daniels-Midland's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 4.3% in the same period.
NYSE:ADM Past Earnings Growth October 3rd 2022Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. Is ADM fairly valued? This infographic on the company's intrinsic value has everything you need to know.
Is Archer-Daniels-Midland Efficiently Re-investing Its Profits?
With a three-year median payout ratio of 45% (implying that the company retains 55% of its profits), it seems that Archer-Daniels-Midland is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.
Additionally, Archer-Daniels-Midland has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 34% over the next three years. Regardless, the future ROE for Archer-Daniels-Midland is predicted to decline to 9.7% despite the anticipated decrease in the payout ratio. We reckon that there could probably be other factors that could be driving the forseen decline in the company's ROE.
Summary
Overall, we are quite pleased with Archer-Daniels-Midland's performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. That being so, according to the latest industry analyst forecasts, the company's earnings are expected to shrink in the future. 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.
在看到Archer-Daniels-Midland(紐約證券交易所股票代碼:ADM)最近的表現後,很難感到興奮,其股價在過去一個月裏下跌了8.2%。然而,股價通常是由一家公司的長期財務表現推動的,在這種情況下,這看起來相當有希望。特別是,我們今天將關注阿徹-丹尼爾斯-米德蘭的淨資產收益率。
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,它是用來評估一家公司相對於其權益資本的盈利能力。
查看我們對Archer-Daniels-Midland的最新分析
淨資產收益率是如何計算的?
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,阿徹-丹尼爾斯-米德蘭的淨資產收益率為:
15%=36億美元×250億美元(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。一種將其概念化的方法是,公司每擁有1美元的股東資本,就能獲得0.15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。根據公司將這些利潤再投資或“保留”多少,以及這樣做的效率如何,我們就能夠評估一家公司的收益增長潛力。假設其他條件不變,淨資產收益率和利潤保留率越高,與不一定具有這些特徵的公司相比,公司的增長率就越高。
Archer-Daniels-Midland的收益增長和15%的淨資產收益率
首先,阿徹-丹尼爾斯-米德蘭似乎擁有令人尊敬的淨資產收益率。即使與14%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。因此,這可能為Archer-Daniels-Midland在過去五年中實現15%的體面增長奠定了基礎。
然後,我們將Archer-Daniels-Midland的淨收入增長與行業進行了比較,我們很高興地看到,與同期4.3%的行業增長率相比,該公司的增長數字更高。
紐約證券交易所:ADM過去的收益增長2022年10月3日盈利增長是評估一隻股票時需要考慮的一個重要指標。對於投資者來説,重要的是知道市場是否已經消化了公司預期的收益增長(或下降)。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。ADM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。
阿徹-丹尼爾斯-米德蘭公司是否有效地對其利潤進行了再投資?
阿徹-丹尼爾斯-米德蘭的三年平均派息率為45%(這意味着該公司保留了55%的利潤),似乎是在以一種高效的方式進行再投資,它看到了收益可觀的增長,並支付了豐厚的股息。
此外,阿徹-丹尼爾斯-米德蘭至少在十年內支付了股息,這意味着該公司非常認真地與股東分享利潤。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降至34%。無論如何,阿徹-丹尼爾斯-米德蘭公司未來的淨資產收益率預計將下降至9.7%,儘管派息率預計會下降。我們認為,可能還有其他因素可能推動了該公司淨資產收益率的預期下降。
摘要
總體而言,我們對阿徹-丹尼爾斯-米德蘭的表現相當滿意。特別是,很高興看到該公司在業務上投入了大量資金,並獲得了高回報率,這導致了其收益的可觀增長。在這種情況下,根據最新的行業分析師預測,該公司未來的收益預計將縮水。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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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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