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Could The Market Be Wrong About Prada S.p.A. (HKG:1913) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About Prada S.p.A. (HKG:1913) Given Its Attractive Financial Prospects?
With its stock down 5.9% over the past month, it is easy to disregard Prada (HKG:1913). 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 Prada's 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. Put another way, it reveals the company's success at turning shareholder investments into profits.
View our latest analysis for Prada
How To Calculate Return On Equity?
ROE can be calculated by using the formula:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Prada is:
12% = €388m ÷ €3.2b (Based on the trailing twelve months to June 2022).
The 'return' is the profit over the last twelve months. Another way to think of that is that for every HK$1 worth of equity, the company was able to earn HK$0.12 in profit.
Why Is ROE Important For Earnings Growth?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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.
A Side By Side comparison of Prada's Earnings Growth And 12% ROE
To start with, Prada's ROE looks acceptable. Further, the company's ROE is similar to the industry average of 11%. Despite the moderate return on equity, Prada has posted a net income growth of 2.3% over the past five years. A few likely reasons that could be keeping earnings growth low are - the company has a high payout ratio or the business has allocated capital poorly, for instance.
Next, on comparing with the industry net income growth, we found that Prada's growth is quite high when compared to the industry average growth of 0.6% in the same period, which is great to see.
SEHK:1913 Past Earnings Growth September 21st 2022Earnings 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 Prada's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
Is Prada Making Efficient Use Of Its Profits?
The high three-year median payout ratio of 53% (that is, the company retains only 47% of its income) over the past three years for Prada suggests that the company's earnings growth was lower as a result of paying out a majority of its earnings.
In addition, Prada has been paying dividends over a period of at least ten years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth. Looking at the current analyst consensus data, we can see that the company's future payout ratio is expected to rise to 64% over the next three years. Regardless, the future ROE for Prada is speculated to rise to 16% despite the anticipated increase in the payout ratio. There could probably be other factors that could be driving the future growth in the ROE.
Summary
Overall, we are quite pleased with Prada's performance. In particular, its high ROE is quite noteworthy and also the probable explanation behind its considerable earnings growth. Yet, the company is retaining a small portion of its profits. Which means that the company has been able to grow its earnings in spite of it, so that's not too bad. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. 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.
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.
在过去的一个月里,普拉达的股价下跌了5.9%,人们很容易忽视它。但如果你仔细观察,你可能会猜到,它强劲的财务状况可能意味着,考虑到市场通常会奖励财务状况良好的公司,该股可能会在长期内增值。在本文中,我们决定将重点放在普拉达的净资产收益率上。
净资产收益率,即股本回报率,是评估一家公司从股东那里获得投资回报的有效程度的有用工具。换句话说,它揭示了该公司成功地将股东投资转化为利润。
查看我们对普拉达的最新分析
如何计算股本回报率?
可使用以下公式计算净资产收益率:
股本回报率=(持续经营的)净利润?股东权益
因此,根据上述公式,普拉达的净资产收益率为:
12%=3.88亿欧元?32亿欧元(基于截至2022年6月的12个月的往绩)。
“收益”是过去12个月的利润。另一种说法是,该公司每持有价值1港元的股票,就能赚取0.12港元的利润。
为什么净资产收益率对收益增长很重要?
到目前为止,我们已经了解到净资产收益率衡量的是一家公司创造利润的效率。根据公司选择再投资或“保留”多少利润,我们就能够评估一家公司未来产生利润的能力。假设其他条件相同,与没有相同特征的公司相比,拥有更高股本回报率和更高利润保留率的公司通常会有更高的增长率。
普拉达盈利增长与12%净资产收益率的并列比较
首先,普拉达的净资产收益率看起来可以接受。此外,该公司的净资产收益率(ROE)接近11%的行业平均水平。尽管股本回报率适中,但普拉达在过去五年中的净收入增长了2.3%。可能将收益增长保持在低水平的几个可能原因是--例如,公司的派息率很高,或者企业的资本配置不当。
接下来,对比行业净收入增长,我们发现,普拉达的增长与同期行业平均0.6%的增长相比是相当高的,这是可喜的。
联交所:1913过去盈利增长2022年9月21日盈利增长是股票估值的一个重要因素。对于投资者来说,重要的是知道市场是否已经消化了公司预期的收益增长(或下降)。通过这样做,他们将知道股票是将进入清澈的蓝色水域,还是等待沼泽水域。如果你想知道普拉达的估值,看看这个市盈率指标,看看它与行业的对比。
普拉达是否有效利用了它的利润?
普拉达在过去三年的高达53%的三年中值派息率(即公司只保留其收入的47%)表明,该公司的收益增长较低,因为支付了大部分收益。
此外,普拉达在至少十年的时间里一直在分红,这表明继续支付股息对管理层来说要重要得多,即使这是以业务增长为代价的。看看目前分析师的共识数据,我们可以看到,该公司未来三年的派息率预计将上升至64%。无论如何,尽管派息率预计会提高,但普拉达的未来净资产收益率预计将升至16%。可能还有其他因素可能在推动未来净资产收益率的增长。
摘要
总体而言,我们对普拉达的表现相当满意。特别是,其高净资产收益率相当值得注意,也是其可观收益增长背后的可能解释。然而,该公司保留了一小部分利润。这意味着,尽管如此,该公司仍能实现收益增长,所以这并不是太糟糕。尽管如此,最新的行业分析师预测显示,该公司的收益预计将加速增长。要了解更多有关该公司未来收益增长预测的信息,请查看以下内容免费报告分析师对该公司的预测,以了解更多信息。
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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