Are MasterBrand, Inc.'s (NYSE:MBC) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?
Are MasterBrand, Inc.'s (NYSE:MBC) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?
MasterBrand (NYSE:MBC) has had a rough month with its share price down 4.9%. However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. Specifically, we decided to study MasterBrand's ROE in this article.
在過去的一個月中,紐交所(MBC)的股價下跌了4.9%。然而,股票價格通常是長期受公司財務狀況的影響,這一點在本例中看起來相當可觀。具體來說,本文決定研究MasterBrand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. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回報率或roe是一項關鍵指標,用於評估公司管理層使用公司資本的效率。換句話說,它揭示了公司將股東的投資轉化爲利潤的成功。
How Is ROE Calculated?
淨資產收益率怎麼計算?
ROE can be calculated by using the formula:
淨資產收益率可以使用以下公式進行計算:
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 MasterBrand is:
因此,根據以上公式,MasterBrand的roe爲:
14% = US$179m ÷ US$1.3b (Based on the trailing twelve months to June 2024).
14% = US$17900萬 ÷ US$13億(根據2024年6月的過去十二個月)。
The 'return' refers to a company's earnings over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.14 in profit.
「回報」是指公司過去一年的盈利。這樣概念化是對於每1美元的股東資本,公司獲得了0.14美元的利潤。
Why Is ROE Important For Earnings Growth?
ROE爲什麼對淨利潤增長很重要?
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。
A Side By Side comparison of MasterBrand's Earnings Growth And 14% ROE
MasterBrand盈利增長和14%ROE的並排比較
To start with, MasterBrand's ROE looks acceptable. Be that as it may, the company's ROE is still quite lower than the industry average of 19%. Although, we can see that MasterBrand saw a modest net income growth of 7.3% over the past five years. We reckon that there could be other factors at play here. 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. Bear in mind, the company does have a respectable level of ROE. It is just that the industry ROE is higher. So this also does lend some color to the fairly high earnings growth seen by the company.
首先,MasterBrand的roe看起來是可以接受的。儘管如此,公司的roe仍然比行業平均水平低5個百分點。儘管如此,我們可以看到MasterBrand在過去五年中的淨收入增長率爲7.3%。我們認爲這裏可能有其他因素在起作用。例如,公司的管理層可能做出了一些好的戰略決策或者公司的派息率比較低。請記住,公司的roe水平是相當可觀的,只是行業roe更高。所以,這也說明了公司實現的相當高的盈利增長。
As a next step, we compared MasterBrand's net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 18% in the same period.
作爲下一步,我們將MasterBrand的淨收入增長與行業進行了比較,但遺憾的是,在同一時期,公司的增長率低於同行業18%的平均增長率。
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Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about MasterBrand's'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重要因素。投資者需要判斷的下一步是,預期的盈利增長,或者缺乏盈利增長,是否已經體現在股票價格中。這樣做將有助於他們判斷股票的未來前景是光明還是黯淡。如果你想了解MasterBrand的估值,請查看它與行業的市盈率比較。
Is MasterBrand Using Its Retained Earnings Effectively?
MasterBrand是否有效地使用了保留利潤?
Given that MasterBrand doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
考慮到MasterBrand沒有向股東支付任何常規股息,我們推斷出該公司一直在重新投資其所有利潤以促進業務增長。
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。
In total, it does look like MasterBrand has some positive aspects to its business. In particular, it's great to see that the company is investing heavily into its business and along with a moderate rate of return, that has resulted in a respectable growth in its earnings.
總體而言,MasterBrand的業務有一些積極因素。特別是,公司積極投資於業務發展並以適度的回報率實現了盈利的相當可觀增長。
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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。