Could The Market Be Wrong About The Middleby Corporation (NASDAQ:MIDD) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About The Middleby Corporation (NASDAQ:MIDD) Given Its Attractive Financial Prospects?
It is hard to get excited after looking at Middleby's (NASDAQ:MIDD) recent performance, when its stock has declined 21% over the past three months. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. In this article, we decided to focus on Middleby's ROE.
看到米德爾比(納斯達克:MIDD)最近的表現,很難感到興奮,它的股票在過去三個月裡下跌了21%。但如果你仔細觀察,你可能會猜到,它強勁的財務狀況可能意味著,考慮到市場通常會獎勵財務狀況良好的公司,該股可能會在長期內增值。在本文中,我們決定關注Middleby的ROE。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
淨資產收益率,即股本回報率,是評估一家公司從股東那裡獲得投資回報的有效程度的有用工具。簡而言之,淨資產收益率顯示了每一美元相對於其股東投資產生的利潤。
View our latest analysis for Middleby
查看我們對Middleby的最新分析
How Do You Calculate Return On Equity?
你如何計算股本回報率?
Return on equity can be calculated by using the formula:
股本回報率可使用以下公式計算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率=(持續經營的)淨利潤?股東權益
So, based on the above formula, the ROE for Middleby is:
因此,根據上面的公式,Middleby的ROE為:
15% = US$454m ÷ US$3.0b (Based on the trailing twelve months to July 2023).
15%=4.54億美元×30億美元(基於截至2023年7月的12個月)。
The 'return' refers to a company's earnings over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.15.
“回報”指的是一家公司過去一年的收益。因此,這意味著股東每投資1美元,公司就會產生0.15美元的利潤。
Why Is ROE Important For Earnings Growth?
為什麼淨資產收益率對收益增長很重要?
So far, we've learned that ROE is a measure of a company's profitability. 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 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.
到目前為止,我們瞭解到淨資產收益率是衡量一家公司盈利能力的指標。根據公司將這些利潤再投資或“保留”多少,以及這樣做的效率如何,我們就能夠評估一家公司的收益增長潛力。假設其他條件相同,與沒有相同特徵的公司相比,擁有更高股本回報率和更高利潤保留率的公司通常會有更高的增長率。
Middleby's Earnings Growth And 15% ROE
Middleby的收益增長和15%的淨資產收益率
To start with, Middleby's ROE looks acceptable. Further, the company's ROE is similar to the industry average of 14%. This probably goes some way in explaining Middleby's moderate 10.0% growth over the past five years amongst other factors.
首先,米德爾比的淨資產收益率看起來還可以接受。此外,該公司的淨資產收益率(ROE)接近14%的行業平均水準。這可能在一定程度上解釋了Middleby在過去五年中10.0%的溫和增長以及其他因素。
Next, on comparing with the industry net income growth, we found that Middleby's growth is quite high when compared to the industry average growth of 8.2% in the same period, which is great to see.
接下來,對比行業淨收入增長,我們發現,與同期8.2%的行業平均增長相比,Middleby的增長相當高,這是很好的看到。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231023/0-2889f92bcee0c731c5d6d34ac470ed09-0-064e8ee9693ffd313dd5482592ae590a.png/big)
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. This then helps them determine if the stock is placed for a bright or bleak future. If you're wondering about Middleby'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一個重要因素。投資者下一步需要確定的是,預期的收益增長是否已經計入了股價。這有助於他們確定這只股票是為光明還是黯淡的未來做準備。如果你想知道Middleby的估值,看看這個衡量其本益比的指標,與其行業相比。
Is Middleby Using Its Retained Earnings Effectively?
Middleby是否有效地利用了其留存收益?
Given that Middleby doesn't pay any dividend to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
鑑於Middleby不向股東支付任何股息,我們推斷該公司一直在將所有利潤再投資於增長業務。
Conclusion
結論
In total, we are pretty happy with Middleby's performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. On studying current analyst estimates, we found that analysts expect the company to continue its recent growth streak. 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.
總體而言,我們對米德爾比的表現相當滿意。特別是,我們喜歡該公司對其業務進行大量再投資,並以高回報率進行投資。不出所料,這導致了令人印象深刻的收益增長。在研究了分析師目前的預測後,我們發現,分析師預計該公司將繼續最近的增長勢頭。要了解更多有關該公司未來收益增長預測的資訊,請查看以下內容免費報告分析師對該公司的預測,以瞭解更多資訊.
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.
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫.或者,也可以給編輯組發電子郵件,地址是暗示Wallst.com。
本文由Simply Wall St.撰寫,具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.