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Can Mixed Fundamentals Have A Negative Impact on Minerals Technologies Inc. (NYSE:MTX) Current Share Price Momentum?

Can Mixed Fundamentals Have A Negative Impact on Minerals Technologies Inc. (NYSE:MTX) Current Share Price Momentum?

混合基本面是否會對礦物技術公司(紐交所:MTX)目前的股票價格勢頭產生負面影響?
Simply Wall St ·  06/14 20:11

Minerals Technologies' (NYSE:MTX) stock is up by a considerable 15% over the past three months. However, we wonder if the company's inconsistent financials would have any adverse impact on the current share price momentum. Particularly, we will be paying attention to Minerals Technologies' ROE today.

過去三個月,礦物技術(Minerals Technologies)(紐交所:MTX)的股價上漲了15%。但是,我們想知道公司不一致的財務狀況是否會對當前的股價勢頭產生任何不利影響。特別是,今天我們將關注礦物技術(Minerals Technologies)的roe。

Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Put another way, it reveals the company's success at turning shareholder investments into profits.

ROE(淨資產收益率)是股東需考慮的一個重要因素,因爲它告訴他們資本被有效地再投資的效果如何。換句話說,它揭示了公司將股東的投資轉化爲利潤的成功程度。

How Is ROE Calculated?

淨資產收益率怎麼計算?

The formula for return on equity is:

權益回報率的計算公式是:

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 Minerals Technologies is:

因此,根據上述公式,礦物技術(Minerals Technologies)的roe爲:

5.8% = US$98m ÷ US$1.7b (Based on the trailing twelve months to March 2024).

5.8%= 9,800萬美元÷ 17億美元(基於過去十二個月至2024年3月)。

The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.06 in profit.

“回報”是稅後在過去十二個月內獲得的收益額。理解這一點的一種方式是,對於每1美元的股東資本,公司賺取了0.06美元的利潤。

Why Is ROE Important For Earnings Growth?

ROE對於盈利增長的重要性是什麼?

So far, we've learned that ROE is a measure of a company's profitability. 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. 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.

到目前爲止,我們已經了解到roe是公司利潤能力的一個衡量標準,現在我們需要評估公司再投資或“保留”的利潤,以此來了解公司的增長潛力。假設其他所有因素保持不變,roe和利潤保留率越高,公司的增長速度就越高,相對於不一定具備這些特徵的公司而言。

A Side By Side comparison of Minerals Technologies' Earnings Growth And 5.8% ROE

礦物技術(Minerals Technologies)盈利增長和5.8%roe的並列比較

When you first look at it, Minerals Technologies' ROE doesn't look that attractive. We then compared the company's ROE to the broader industry and were disappointed to see that the ROE is lower than the industry average of 10%. For this reason, Minerals Technologies' five year net income decline of 7.6% is not surprising given its lower ROE. We believe that there also might be other aspects that are negatively influencing the company's earnings prospects. Such as - low earnings retention or poor allocation of capital.

當您首次查看礦物技術(Minerals Technologies)的roe時,看起來並不那麼吸引人。然後,我們將公司的roe與更廣泛的行業進行了比較,並對發現roe低於10%的行業平均值感到失望。因此,鑑於其roe較低,我們認爲礦物技術(Minerals Technologies)五年的淨收入下降7.6%並不令人意外。我們認爲還可能有其他方面對公司的盈利前景產生負面影響,例如 - 營收保留率低或資本配置不當。

So, as a next step, we compared Minerals Technologies' performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 14% over the last few years.

因此,作爲下一步,我們將礦物技術(Minerals Technologies)的表現與行業進行了比較,並對發現儘管公司一直在縮小盈利規模,但行業盈利速度在過去幾年中增長了14%,感到失望。

past-earnings-growth
NYSE:MTX Past Earnings Growth June 14th 2024
紐交所:MTX過去的盈利增長(2024年6月14日)

Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. What is MTX worth today? The intrinsic value infographic in our free research report helps visualize whether MTX is currently mispriced by the market.

盈利增長是股票估值的一個重要因素。投資人應嘗試確定預期的盈利增長或下降(無論哪種情況),是否已定價。這有助於他們判斷股票是處於光明還是黯淡的未來。MTX今天值多少錢?我們的免費研究報告中的內在價值信息圖表可視化了MTX當前是否被市場錯誤定價。

Is Minerals Technologies Efficiently Re-investing Its Profits?

礦物技術(Minerals Technologies)有效地再投資其利潤嗎?

Minerals Technologies' low three-year median payout ratio of 5.4% (implying that it retains the remaining 95% of its profits) comes as a surprise when you pair it with the shrinking earnings. The low payout should mean that the company is retaining most of its earnings and consequently, should see some growth. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.

當你將礦物技術(Minerals Technologies)的低三年中位數派息率爲5.4%(意味着它保留了其95%的利潤)與萎縮的盈利相結合時,這可能會讓人驚訝。低派息應該意味着公司保留了大部分利潤,因此應該看到一些增長。看起來可能有其他原因可以解釋這個方面的缺失,例如業務可能在衰退。

In addition, Minerals Technologies 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. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 5.6%. However, Minerals Technologies' ROE is predicted to rise to 12% despite there being no anticipated change in its payout ratio.

此外,礦物技術(Minerals Technologies)在至少十年的時間內一直支付股息,表明保持支付股息對於管理層來說比業務增長更加重要。根據最新的分析師預期,我們發現公司在未來三年內的股息支付比率預計將保持穩定在5.6%。但是,預計礦物技術(Minerals Technologies)的roe將上升到12%,儘管其派息比率不會發生變化。

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 the performance shown by Minerals Technologies can be open to many interpretations. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

總的來說,我們認爲礦物技術(Minerals Technologies)表現出的性能可以有很多解釋。雖然該公司確實有高利潤保留率,但其低的回報率可能正在阻礙其盈利增長。即便如此,最新的行業分析師預測顯示,分析師預計公司的盈利增長速度將大幅提高。這些分析師的預期是基於行業的廣泛預期,還是基於公司的基本面?單擊此處,前往我們的分析師預測頁面。

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。

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@simplywallst.com。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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