Sentences with phrase «multiples than growth»

Not exact matches

According to a Bain analysis, 45 % of TSR growth at publicly traded global healthcare companies over the past five years came from an expansion of price - to - earnings multiples — that is more than growth from either revenue or earnings.

I have ignored reasons that might justify lower discount rates or higher GDP adjustments for China mainly because the purpose of this essay is to explain why the U.S. multiple is so much higher than China's, and of course these reasons exist, but I think whatever the correct ratio should be, there is no question that advanced economies always justify higher multiples than developing economies because they tend to be economically more diversified and politically more stable, and they usually have institutions, including clearer legal and regulatory frameworks, more sophisticated capital allocation processes, less rigid financial systems, and smaller state sectors (which make smooth adjustment, one of the most valuable and undervalued components of long - term growth, more likely).

Execution of the company's strategy resulted in strong earnings growth during the life of NEP's investment and an exit multiple of over 3x greater than the initial purchase price.

Logically, by taking more risk — in paying up to own «growth» stocks at higher multiples than the market average — one should expect to achieve higher returns.

Add the fact that much of the earnings - per - share growth is created by making acquisitions of slower growing, lower P / E companies, and one might think that the new, larger level of earnings should be valued at a smaller multiple than the prior earnings were.

But, by multiple accounts, penetration rates still climb incrementally and DPM asset growth continues to be primarily driven by strong net new assets (NNA) rather than continuous top - ups from existing clients.

In recent years, U.S. equities overall have generally seen their stock prices gain from multiple expansion, rather than significant earnings growth.

And if you can buy some business that earns high returns on equity and has even got mild growth prospects, you know, at much lower multiple earnings, you are going to do better than buying ten - year bonds at 2.30 or 30 - year bonds at three, or something of the sort.»

This leaves roughly 1.4 % of historical long - term returns which can be attributed to past expansion in the Price / Earnings multiple (i.e. over the past 50 years, prices have grown somewhat faster than the 5.7 % average rate of earnings growth).

In general, they are looking for companies growing at superior rates than the general marketplace, but are unwilling to pay the extremely high multiples associated with the hyper growth stocks.

Unlike more defensive sectors (such as utilities), price gains for mature tech stocks have largely been led by earnings growth rather than by multiples expansion.

Assume also that by 2010, the price / peak earnings multiple simply touches its historical average of 14 (forget that the typical multiple has been less than 10 when earnings have been at the top of that peak - to - peak growth channel - let's just assume the multiple touches 14).

If you are one of the lucky ones to have a multiple pregnancy in the works, you are sure to see the signs of growth sooner than you can imagine since there is 1 (or 2!)

Fetal growth is slower in multiple pregnancies, and the growth of one twin may be faster than the other.

Rather than creating multiple new institutions to support devolution in those city regions, Labour should argue for the new mayors to be given the full range of powers and funding they need to address the issues that matter most to jobs and economic growth.»

In the first of three studies for their recent paper, Ehrlinger and her colleagues found that students who hold a fixed mindset about intelligence were more overconfident about their performance on a multiple - choice test than those with a growth mindset.

The researchers also tested a Runx2 knock - down variant of a human multiple myeloma cell line and found that it produced significantly less tumor growth in immunodeficient mice than the original human multiple myeloma cells.

We identified 52 variants contributing to obesity in 2 % of cases including multiple novel variants in GNAS, which were sometimes found with accelerated growth rather than short stature as described previously.

If you are recovering fast enough, it would be logical to do multiple sets to failure rather than less, because it will stimulate more muscle growth in one workout.»

Moreover, the reason for a school's failure to win an award was often not that African - American and Latino students were lagging behind, but that white non-Hispanic students experienced slower growth in achievement: the average school with multiple racial subgroups witnessed larger gains for African - American and Latino students than for white students.

â cents Evaluations that are based on multiple measures, including no less than 30 percent based on growth in student achievement toward meeting grade - level proficiency.

We choose to use items that actually show growth — assessments that are taken multiple times per year rather than one high stakes test, student work on tasks that show growth and learning over time, etc..

The most recent increase of 11.67 % is the biggest single bump I've experienced with the company, although through other periods the company was boosting the dividend multiple times per year and achieving a higher annual dividend growth rate than this.

It is also misleading to write - off high multiple stocks as not being value opportunities — there are some businesses with growth rates and returns on incremental invested capital that can more than justify an optically high earnings multiple.

Finally, while determining the exit multiple 10 years later, I used an exit multiple of well below 20x — a cap I use for all expected return models as an exercise in discipline, even though I know that many businesses would be worth a lot more than 20x earnings a decade from now, given their profitability and growth potential even beyond 10 years.

Rather than rely on past averages to forecast future returns, we use a building - block approach that adds current yield, likely long - term growth in income, and some mean reversion in valuation multiples to create forward - looking returns.

They tend to be slightly more aggressive than Core Growth investors, willing to pay slightly higher multiples for stocks and trade at a slightly more active pace.

In general, they are looking for companies growing at superior rates than the general marketplace, but are unwilling to pay the extremely high multiples associated with the hyper growth stocks.

That said, risk assets are no longer cheap and sentiment is overly bullish, so investment gains will need to be driven primarily by growth in fundamentals rather than multiple expansion.

If you're a growth stock investor buying high multiple stocks, then your two improbable, extreme outcomes are: (1) much higher growth than what's occurred in the past or (2) negative, declining growth.

Remember, if we know the price - to - free - cash - flow multiple is going to contract at some point, then we know free cash flow has to grow faster than market cap — and you are only going to make money (unless the company buys back stock or pays a dividend) from market cap growth.

We have learned that the stock market rewards faster growth more than durable growth, as when shoe company Crocs carried a high multiple for many years, later crashing when the faddish shoes stopped selling as well.

But with the board now conceding cash generation is more important than earnings growth / guidance, this gap should close, so a 1.0 P / S multiple (based on an average 10.8 % margin of $ 425 million) seems fair at this point.

But if you believe in the growth story here, this multiple probably looks about right — in terms of current fair value — i.e. you expect rapid earnings growth, rather than multiple expansion necessarily.

This leaves roughly 1.4 % of historical long - term returns which can be attributed to past expansion in the Price / Earnings multiple (i.e. over the past 50 years, prices have grown somewhat faster than the 5.7 % average rate of earnings growth).

Sebaceous hyperplasia is the most common and may be solitary or multiple wart - like growths that appear pink and are usually less than 1 cm in diameter.

The gaming world is growing faster than ever before from gameplay across multiple devices, to the explosive growth in streaming and esports, to new subscription services and mixed reality scenarios.

In particular, the anthropogenic forcing model must distinguish a linear CO2 forcing increase (log of exponential CO2 growth) that is greater than natural variations from multiple sinusoidal cycles, especially as the dominant natural cycle passes through an inflection point (from accelerating to decelerating growth.)

[36] SPPI and CSCDGC have historically published multiple papers per month on topics like the supposed benefits of CO2 on crop growth, the supposed exaggeration of sea level rise, and that species are more adaptive to climate change than mainstream science has suggested.

Though they trade at a lower price to its forward earnings multiple than at any time since Facebook went public, in 2012, the overall picture is one of astonishing growth and wealth.

«We expect a seasonal rise of inventory this spring, but it may be insufficient to avoid more frequent incidences of multiple bidding and faster - than - normal price growth,» Yun explained.

«The booming employment market in Greater Seattle has brought multiple years of double - digit [home] price growth and less than two months» [housing] inventory available,» says Sam DeBord, managing broker of the Seattle Homes Group and vice president of Strategic Growth with Coldwell Banker Dangrowth and less than two months» [housing] inventory available,» says Sam DeBord, managing broker of the Seattle Homes Group and vice president of Strategic Growth with Coldwell Banker DanGrowth with Coldwell Banker Danforth.

Turnaround deals typically sell for less than 5x EBITDA, while solid, performing companies trade at multiples between 5x and 8x EBITDA, according to Richard Baum, managing partner of Consumer Growth Partners, a New York - based firm that provides advisory services as well as private equity investment.

Following multiple hurricanes, Public Storage's (PSA) Florida properties achieved NOI growth of 20.0 percent during 2005, significantly higher than the 7.0 percent overall same - store average, according Green Street Advisors, a Newport Beach, Calif. - based research firm.

«We expect a seasonal rise of inventory this spring, but it may be insufficient to avoid more frequent incidences of multiple bidding and faster - than - normal price growth,» Yun explains.

The National Association of REALTORS ® is projecting a seasonal rise of inventory this spring, «but it may be insufficient to avoid more frequent incidences of multiple bidding and faster - than - normal price growth,» Yun says.