Is Miller Industries, Inc.'s (NYSE:MLR) Latest Stock Performance A Reflection Of Its Financial Health?
Is Miller Industries, Inc.'s (NYSE:MLR) Latest Stock Performance A Reflection Of Its Financial Health?
Miller Industries (NYSE:MLR) has had a great run on the share market with its stock up by a significant 14% over the last month. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Particularly, we will be paying attention to Miller Industries' ROE today.
Miller Industries（NYSE：MLR）在股票市场上表现出色，股价在最近一个月内增长了显著的14％。鉴于市场对长期强劲财务表现的奖励，我们想知道在这种情况下是否也是如此。特别地，我们将关注Miller Industries今天的ROE。
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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
净资产收益率（roe）是衡量公司经营管理层如何有效利用公司资本的关键指标。换言之，它是一种利润率，衡量由公司股东提供的资本的回报率。
How Is ROE Calculated?
净资产收益率怎么计算？
Return on equity can be calculated by using the formula:
股东权益报酬率可以使用以下公式计算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润（从持续经营中获得）÷ 股东权益
So, based on the above formula, the ROE for Miller Industries is:
因此，根据上述公式，Miller Industries的ROE为：
18% = US$66m ÷ US$362m (Based on the trailing twelve months to March 2024).
18％ = 6600万美元 ÷ 3,6200万美元（基于截至2024年3月的过去十二个月）。
The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.18.
“回报”是年利润。这意味着对于每一美元的股东投资，该公司可以创造出0.18美元的利润。
What Has ROE Got To Do With Earnings Growth?
roe与盈利增长有何关系？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
我们已经意识到，ROE作为公司未来盈利的有效衡量值。根据公司重新投资或“保留”这些利润的程度，以及公司有效地运用这些利润的程度，我们就能评估公司的盈利增长潜力。假设其他所有因素保持不变，ROE和利润保留越高，增长率就会越高，相比于没有这些特点的公司，公司的增长率就会更高。
Miller Industries' Earnings Growth And 18% ROE
Miller Industries的盈利增长和18％的ROE
To start with, Miller Industries' ROE looks acceptable. On comparing with the average industry ROE of 14% the company's ROE looks pretty remarkable. This probably laid the ground for Miller Industries' moderate 5.2% net income growth seen over the past five years.
首先，Miller Industries的ROE看起来可以接受。与行业平均ROE为14％相比，公司的ROE具有相当显著的优势。这很可能为Miller Industries在过去五年中实现5.2％的适度净利润增长奠定了基础。
As a next step, we compared Miller Industries' net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 11% in the same period.
作为下一步，我们将Miller Industries的净利润增长与行业进行比较，不幸的是我们看到公司在同一时期的增长低于行业平均增长11％。
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. If you're wondering about Miller Industries''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
盈利增长是股票估值的一个重要因素。了解市场是否已经对公司的预期盈利增长（或下降）进行了定价对于投资者来说非常重要。通过这样做，他们将了解该股票将进入清澈的蓝色水域还是灰暗的沼泽地带。如果您正在考虑Miller Industries的估值，请查看其市盈率的这个指标，与其所在的行业进行比较。
Is Miller Industries Efficiently Re-investing Its Profits?
Miller Industries是否高效地重新投资其利润？
Miller Industries has a healthy combination of a moderate three-year median payout ratio of 30% (or a retention ratio of 70%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.
Miller Industries具有一个适度的三年中位数股利支付率为30％（或保留率为70％）和一定数量的盈利增长，如上所述，这意味着公司一直在有效地利用其利润。
Besides, Miller Industries has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders.
此外，Miller Industries至少十年以上一直在支付分红派息。这表明该公司致力于与股东分享利润。
Summary
总的来说，我们对伟明环保的表现非常满意。具体而言，我们喜欢公司以高回报率再投资了其利润的很大一部分。当然，这导致公司的收益大幅增长。但是，最新的行业分析师预测表明，该公司的收益预计将加速增长。
On the whole, we feel that Miller Industries' performance has been quite good. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see a good amount of growth in its earnings. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. 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.
总的来说，我们认为Miller Industries的表现相当不错。具体而言，我们喜欢公司正在高比率投资其利润，从而使公司的盈利增长相当可观。当然，最新的分析师预测显示公司将继续看到其盈利规模扩大，如果您想了解有关公司未来盈利增长预测的更多信息，请查看这份有关分析师预测的免费报告。
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这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论，只使用公正的方法论，我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议，也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意，我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有任何反馈？对内容有任何疑虑？请直接与我们联系。或者，发送电子邮件至editorial-team@simplywallst.com。