Is Weakness In Magnolia Oil & Gas Corporation (NYSE:MGY) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
Is Weakness In Magnolia Oil & Gas Corporation (NYSE:MGY) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
Magnolia Oil & Gas (NYSE:MGY) has had a rough month with its share price down 4.5%. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Specifically, we decided to study Magnolia Oil & Gas' ROE in this article.
磨棒油氣（NYSE:MGY）股價下跌了4.5%，這個月非常艱難。然而，股票價格通常受到公司的長期財務表現的驅動，而在這種情況下，表現看起來相當有前途。具體而言，本文決定研究磨棒油氣的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？
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 Magnolia Oil & Gas is:
因此，基於上述公式，磨棒油氣的roe爲:
23% = US$434m ÷ US$1.9b (Based on the trailing twelve months to March 2024).
23%=43.4億美元÷ 19億美元（截至2024年3月的過去12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 $0.23 in profit.
“回報”是指公司在過去一年內的收益。其中一種概念是，對於每1美元的股東資本，公司創造了0.23美元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
既然我們已經確定ROE是一種有效的利潤生成標準，用於評估公司未來的盈利能力，我們現在需要評估公司“保留”爲未來增長而重新投資的利潤多少，這使我們對公司的增長潛力有了一個了解。一般而言，在其他條件相等的情況下，ROE和利潤留存高的公司，增長率比沒有這些屬性的公司要高。
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
到目前爲止，我們已經了解了ROE衡量公司產生利潤的效率。現在，我們需要評估公司爲未來增長“留存”的利潤或“保留”多少，這就讓我們對公司的增長潛力有了一個想法。一般來說，其他條件相同的情況下，ROE和利潤保留較高的公司比沒有這些屬性的公司具有更高的增長率。
A Side By Side comparison of Magnolia Oil & Gas' Earnings Growth And 23% ROE
磨棒油氣盈利增長和23%roe的並排比較。
To begin with, Magnolia Oil & Gas has a pretty high ROE which is interesting. Additionally, the company's ROE is higher compared to the industry average of 18% which is quite remarkable. As a result, Magnolia Oil & Gas' exceptional 50% net income growth seen over the past five years, doesn't come as a surprise.
首先，磨棒油氣的roe相當高，很有趣。此外，公司的ROE高於18%的行業平均水平，這相當引人注目。因此，過去五年磨棒油氣50%的淨利潤增長，也毫不意外。
As a next step, we compared Magnolia Oil & Gas' net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 38%.
作爲下一步，我們與行業比較了磨棒油氣的淨利潤增長，收到了令人滿意的結果，發現該公司的增長高於38%的行業平均增長。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. Has the market priced in the future outlook for MGY? You can find out in our latest intrinsic value infographic research report.
爲了確定公司的價值，與其收益增長密切相關。對於投資者來說，了解市場是否已經定價了公司的預期收益增長（或下降）非常重要。然後，這可以幫助他們判斷股票是否具有光明的未來還是黯淡的未來。市場是否已經爲MGY的未來前景定價？您可以在最新的內在價值信息圖研究報告中找到答案。
Is Magnolia Oil & Gas Making Efficient Use Of Its Profits?
磨棒油氣是否有效地利用其利潤？
Magnolia Oil & Gas has a really low three-year median payout ratio of 9.8%, meaning that it has the remaining 90% left over to reinvest into its business. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.
磨棒油氣的三年中位數派息比率非常低，僅爲9.8％，這意味着它有剩餘的90％用於重投其業務。“這表明管理層正在重投大部分利潤以推動公司增長，正如公司所看到的增長一樣。
Additionally, Magnolia Oil & Gas has paid dividends over a period of three years which means that the company is pretty serious about sharing its profits with shareholders. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 24% over the next three years. Accordingly, the expected increase in the payout ratio explains the expected decline in the company's ROE to 18%, over the same period.
此外，磨棒油氣已經連續三年支付股息，這意味着該公司非常重視與股東分享其利潤。我們最新的分析師數據顯示，該公司未來的派息比率預計將在未來三年內上升至24％。因此，派息比率的預期增加解釋了同期公司roe的預期下降至18％。
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。
Overall, we are quite pleased with Magnolia Oil & Gas' performance. 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 substantial growth in its earnings. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總的來說，我們對磨棒油氣的表現感到非常滿意。具體而言，我們喜歡該公司以高回報率重新投資大量利潤的方式。當然，這導致公司利潤的大幅增長。話雖如此，最新的行業分析師預測顯示，該公司的收益增長預期將放緩。要了解有關公司的最新分析師預測的更多信息，請查看此公司的分析師預測可視化圖。
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.
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者，發送電子郵件至editorial-team (at) 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。
譯文內容由第三人軟體翻譯。