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)在股票市場上表現出色,股價在最近一個月內增長了顯著的14%。鑑於市場對長期強勁財務表現的獎勵,我們想知道在這種情況下是否也是如此。特別地,我們將關注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.
淨資產收益率(roe)是衡量公司經營管理層如何有效利用公司資本的關鍵指標。換言之,它是一種利潤率,衡量由公司股東提供的資本的回報率。
How Is ROE Calculated?
淨資產收益率怎麼計算?
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤(從持續經營中獲得)÷ 股東權益
So, based on the above formula, the ROE for Miller Industries is:
因此,根據上述公式,Miller Industries的ROE爲:
18% = US$66m ÷ US$362m (Based on the trailing twelve months to March 2024).
18% = 6600萬美元 ÷ 3,6200萬美元(基於截至2024年3月的過去十二個月)。
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.
「回報」是年利潤。這意味着對於每一美元的股東投資,該公司可以創造出0.18美元的利潤。
What Has ROE Got To Do With Earnings Growth?
roe與盈利增長有何關係?
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.
我們已經意識到,ROE作爲公司未來盈利的有效衡量值。根據公司重新投資或「保留」這些利潤的程度,以及公司有效地運用這些利潤的程度,我們就能評估公司的盈利增長潛力。假設其他所有因素保持不變,ROE和利潤保留越高,增長率就會越高,相比於沒有這些特點的公司,公司的增長率就會更高。
Miller Industries' Earnings Growth And 18% ROE
Miller Industries的盈利增長和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看起來可以接受。與行業平均ROE爲14%相比,公司的ROE具有相當顯著的優勢。這很可能爲Miller Industries在過去五年中實現5.2%的適度淨利潤增長奠定了基礎。
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.
作爲下一步,我們將Miller Industries的淨利潤增長與行業進行比較,不幸的是我們看到公司在同一時期的增長低於行業平均增長11%。
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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.
盈利增長是股票估值的一個重要因素。了解市場是否已經對公司的預期盈利增長(或下降)進行了定價對於投資者來說非常重要。通過這樣做,他們將了解該股票將進入清澈的藍色水域還是灰暗的沼澤地帶。如果您正在考慮Miller Industries的估值,請查看其市盈率的這個指標,與其所在的行業進行比較。
Is Miller Industries Efficiently Re-investing Its Profits?
Miller Industries是否高效地重新投資其利潤?
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具有一個適度的三年中位數股利支付率爲30%(或保留率爲70%)和一定數量的盈利增長,如上所述,這意味着公司一直在有效地利用其利潤。
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紅派息。這表明該公司致力於與股東分享利潤。
Summary
總的來說,我們對偉明環保的表現非常滿意。具體而言,我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然,這導致公司的收益大幅增長。但是,最新的行業分析師預測表明,該公司的收益預計將加速增長。
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.
總的來說,我們認爲Miller Industries的表現相當不錯。具體而言,我們喜歡公司正在高比率投資其利潤,從而使公司的盈利增長相當可觀。當然,最新的分析師預測顯示公司將繼續看到其盈利規模擴大,如果您想了解有關公司未來盈利增長預測的更多信息,請查看這份有關分析師預測的免費報告。
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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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。