Do Its Financials Have Any Role To Play In Driving MakeMyTrip Limited's (NASDAQ:MMYT) Stock Up Recently?
Do Its Financials Have Any Role To Play In Driving MakeMyTrip Limited's (NASDAQ:MMYT) Stock Up Recently?
MakeMyTrip's (NASDAQ:MMYT) stock is up by a considerable 16% over the past three months. As most would know, fundamentals are what usually guide market price movements over the long-term, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. Particularly, we will be paying attention to MakeMyTrip's ROE today.
在过去三个月中，MakeMyTrip（纳斯达克股票代码：MMYT）的股票大幅上涨了16％。正如大多数人所知，基本面通常是指导市场价格长期走势的因素，因此我们决定今天查看该公司的关键财务指标，以确定它们在最近的价格走势中是否起到任何作用。特别是，我们今天将关注MakeMyTrip的投资回报率。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股本回报率或投资回报率是用于评估公司管理层利用公司资本效率的关键指标。简而言之，它衡量公司相对于股东权益的盈利能力。
See our latest analysis for MakeMyTrip
查看我们对 MakeMyTrip 的最新分析
How Is ROE Calculated?
ROE 是如何计算的？
ROE can be calculated by using the formula:
ROE 可以通过以下公式计算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润（来自持续经营业务）÷ 股东权益
So, based on the above formula, the ROE for MakeMyTrip is:
因此，根据上面的公式，MakeMyTrip 的投资回报率为：
2.9% = US$26m ÷ US$909m (Based on the trailing twelve months to September 2023).
2.9% = 2,600万美元 ¥9.09亿美元（基于截至2023年9月的过去十二个月）。
The 'return' is the profit over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.03 in profit.
“回报” 是过去十二个月的利润。这意味着，每持有价值1美元的股东权益，该公司就会产生0.03美元的利润。
What Is The Relationship Between ROE And Earnings Growth?
投资回报率与收益增长之间有什么关系？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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.
到目前为止，我们已经了解到，投资回报率衡量的是公司创造利润的效率。现在，我们需要评估公司再投资或 “保留” 了多少利润以用于未来的增长，从而使我们对公司的增长潜力有所了解。假设其他条件都一样，与功能不相同的公司相比，具有更高股本回报率和更高利润保留率的公司通常具有更高的增长率。
A Side By Side comparison of MakeMyTrip's Earnings Growth And 2.9% ROE
MakeMyTrip的收益增长和2.9％的投资回报率的并行比较
It is quite clear that MakeMyTrip's ROE is rather low. Even compared to the average industry ROE of 16%, the company's ROE is quite dismal. In spite of this, MakeMyTrip was able to grow its net income considerably, at a rate of 40% in the last five years. We believe that there might be other aspects that are positively influencing the company's earnings growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
很明显，MakeMyTrip的投资回报率相当低。即使与16％的行业平均投资回报率相比，该公司的投资回报率也相当令人沮丧。尽管如此，MakeMyTrip还是能够大幅增长其净收入，在过去五年中以40％的速度增长。我们认为，可能还有其他方面对公司的收益增长产生积极影响。例如，公司的管理层可能已经做出了一些良好的战略决策，或者公司的支付率很低。
Next, on comparing with the industry net income growth, we found that MakeMyTrip's growth is quite high when compared to the industry average growth of 20% in the same period, which is great to see.
接下来，与行业净收入增长相比，我们发现MakeMyTrip的增长相当高，而同期行业平均增长20％，这很高兴看到。
Earnings 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. If you're wondering about MakeMyTrip's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
收益增长是估值股票时要考虑的重要指标。对于投资者来说，重要的是要知道市场是否影响了公司的预期收益增长（或下降）。然后，这可以帮助他们确定股票是面向光明还是黯淡的未来。如果你想知道MakemyTrip的估值，可以看看这个衡量其市盈率与行业比较的指标。
Is MakeMyTrip Making Efficient Use Of Its Profits?
MakeMyTrip 是否在有效利用其利润？
MakeMyTrip doesn't pay any dividend to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
MakeMyTrip不向股东支付任何股息，这意味着该公司一直在将其所有利润再投资于该业务。这可能是推动上面讨论的高收益增长数字的原因。
Summary
摘要
In total, it does look like MakeMyTrip has some positive aspects to its business. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. 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.
总的来说，看来MakeMyTrip的业务确实有一些积极的方面。尽管回报率很低，但由于对业务进行了大量再投资，该公司仍实现了可观的收益增长。话虽如此，最新的行业分析师预测显示，该公司的收益预计将加速。这些分析师的预期是基于对该行业的广泛预期，还是基于公司的基本面？点击此处进入我们分析师对公司的预测页面。
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.
对这篇文章有反馈吗？对内容感到担忧？直接联系我们。 或者，给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论，我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议，也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意，我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之，华尔街没有持有任何上述股票的头寸。