<p>在看到普拉达（HKG:1913）最近的表现后，很难感到兴奋，因为其股票在过去一周下跌了 3.3%。然而，仔细观察其稳健的财务状况可能会让你重新考虑。考虑到基本面通常驱动长期市场结果，这家公司值得关注。特别是，今天我们将关注普拉达的股本回报率（ROE）。</p>
<p>股本回报率（ROE）是评估公司管理层如何有效利用公司资本的关键指标。简单来说，它衡量的是公司相对于股东权益的盈利能力。</p>
<p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</p>
<h2>如何计算股本回报率？</h2>
<p><strong>ROE 可以通过以下公式计算：</strong></p>
<p>股本回报率 = 净利润（来自持续经营）÷ 股东权益</p>
<p>因此，根据上述公式，普拉达的 ROE 为：</p>
<p>20% = €845m ÷ €4.2b（基于截至 2025 年 6 月的过去十二个月）。</p>
<p>“回报” 是指过去十二个月的税后收益。换句话说，对于每 1 港元的股本，公司能够赚取 0.20 港元的利润。</p>
<p>查看我们对普拉达的最新分析</p>
<h2>ROE 与盈利增长有什么关系？</h2>
<p>我们已经确定，ROE 作为公司未来盈利的有效利润生成指标。根据公司选择再投资或 “保留” 的利润比例，我们能够评估公司未来产生利润的能力。一般来说，其他条件相同的情况下，具有高股本回报率和利润保留的公司，其增长率高于不具备这些特征的公司。</p>
<h2>普拉达的盈利增长与 20% ROE</h2>
<p>乍一看，普拉达似乎拥有不错的 ROE。特别是与行业平均水平 11% 相比，该公司的 ROE 显得相当令人印象深刻。这可能为普拉达在过去五年中实现 42% 的净收入增长奠定了基础。我们认为，还有其他因素可能积极影响公司的盈利增长。例如，该公司的派息比率较低或管理效率较高。</p>
<p>作为下一步，我们将普拉达的净收入增长与行业进行了比较，令人欣慰的是，我们发现该公司的增长高于行业平均增长 14%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/7902889-past-earnings-growth-1-dark-2/1766886178141?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1642" height="668" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/7902889-past-earnings-growth-1-dark-2/1766886178141"/></p>
<p>SEHK:1913 过去的盈利增长 2025 年 12 月 28 日</p>
<p>对公司的估值在很大程度上与其盈利增长相关。投资者应尝试确定预期的盈利增长或下降，无论是哪种情况，是否已被定价。这有助于他们判断股票的未来是光明还是黯淡。1913 的估值是否合理？这张关于公司内在价值的信息图包含了你需要知道的一切。</p>
<h2>普拉达是否有效利用其留存收益？</h2>
<p>普拉达的三年中位派息比率为 49%（即保留 51% 的收入），这并不算低也不算高。这表明其股息得到了很好的覆盖，考虑到我们上面讨论的高增长，普拉达似乎在有效地再投资其收益。</p>
<p>此外，普拉达决心继续与股东分享其利润，这从其至少十年的派息历史中可以看出。根据最新的分析师共识数据，我们发现预计该公司在未来三年内将继续支付约 54% 的利润。因此，分析师预测公司的未来 ROE 也不会有太大变化，预计为 17%。</p>
<h2>结论</h2>
<p>总的来说，我们对普拉达的表现感到相当满意。具体来说，我们喜欢公司以高回报率再投资大量利润。这当然导致公司盈利的显著增长。尽管如此，最新的分析师预测显示，公司未来的盈利增长预计将放缓。要了解更多关于公司未来盈利增长预测的信息，请查看这份 <strong>免费</strong> 的分析师预测报告。</p>
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普拉达

<p>普拉达的股票最近下跌了 3.3%，但其强劲的财务状况，特别是 20% 的股本回报率（ROE），表明其长期增长的潜力。该公司的 ROE 超过了行业平均水平的 11%，在过去五年中推动了 42% 的净收入增长。普拉达保留了 51% 的收入，表明其有效的再投资。分析师预测未来的 ROE 为 17%，并将继续维持 54% 的股息支付比例。尽管预计盈利增长将放缓，普拉达的再投资策略仍支持其强劲的表现</p>

<p>It is hard to get excited after looking at Prada's (HKG:1913) recent performance, when its stock has declined 3.3% over the past week. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Particularly, we will be paying attention to Prada's ROE today.</p>
<div class="lb-trans"><p>在看到普拉达（HKG:1913）最近的表现后，很难感到兴奋，因为其股票在过去一周下跌了 3.3%。然而，仔细观察其稳健的财务状况可能会让你重新考虑。考虑到基本面通常驱动长期市场结果，这家公司值得关注。特别是，今天我们将关注普拉达的股本回报率（ROE）。</p>
</div><p>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 simpler terms, it measures the profitability of a company in relation to shareholder's equity.</p>
<div class="lb-trans"><p>股本回报率（ROE）是评估公司管理层如何有效利用公司资本的关键指标。简单来说，它衡量的是公司相对于股东权益的盈利能力。</p>
</div><p>This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality.</p>
<div class="lb-trans"><p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</p>
</div><h2>How To Calculate Return On Equity?</h2>
<div class="lb-trans"><h2>如何计算股本回报率？</h2>
</div><p><strong>ROE can be calculated by using the formula:</strong></p>
<div class="lb-trans"><p><strong>ROE 可以通过以下公式计算：</strong></p>
</div><p>Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity</p>
<div class="lb-trans"><p>股本回报率 = 净利润（来自持续经营）÷ 股东权益</p>
</div><p>So, based on the above formula, the ROE for Prada is:</p>
<div class="lb-trans"><p>因此，根据上述公式，普拉达的 ROE 为：</p>
</div><p>20% = €845m ÷ €4.2b (Based on the trailing twelve months to June 2025).</p>
<div class="lb-trans"><p>20% = €845m ÷ €4.2b（基于截至 2025 年 6 月的过去十二个月）。</p>
</div><p>The 'return' is the amount earned after tax 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$0.20 in profit.</p>
<div class="lb-trans"><p>“回报” 是指过去十二个月的税后收益。换句话说，对于每 1 港元的股本，公司能够赚取 0.20 港元的利润。</p>
</div><p>Check out our latest analysis for Prada</p>
<div class="lb-trans"><p>查看我们对普拉达的最新分析</p>
</div><h2>What Has ROE Got To Do With Earnings Growth?</h2>
<div class="lb-trans"><h2>ROE 与盈利增长有什么关系？</h2>
</div><p>We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Based on how much of its profits the company chooses to reinvest or &#34;retain&#34;, we are then able to evaluate a company's future ability to generate profits. 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.</p>
<div class="lb-trans"><p>我们已经确定，ROE 作为公司未来盈利的有效利润生成指标。根据公司选择再投资或 “保留” 的利润比例，我们能够评估公司未来产生利润的能力。一般来说，其他条件相同的情况下，具有高股本回报率和利润保留的公司，其增长率高于不具备这些特征的公司。</p>
</div><h2>Prada's Earnings Growth And 20% ROE</h2>
<div class="lb-trans"><h2>普拉达的盈利增长与 20% ROE</h2>
</div><p>At first glance, Prada seems to have a decent ROE. Especially when compared to the industry average of 11% the company's ROE looks pretty impressive. This probably laid the ground for Prada's significant 42% net income growth seen over the past five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.</p>
<div class="lb-trans"><p>乍一看，普拉达似乎拥有不错的 ROE。特别是与行业平均水平 11% 相比，该公司的 ROE 显得相当令人印象深刻。这可能为普拉达在过去五年中实现 42% 的净收入增长奠定了基础。我们认为，还有其他因素可能积极影响公司的盈利增长。例如，该公司的派息比率较低或管理效率较高。</p>
</div><p>As a next step, we compared Prada's 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 14%.</p>
<div class="lb-trans"><p>作为下一步，我们将普拉达的净收入增长与行业进行了比较，令人欣慰的是，我们发现该公司的增长高于行业平均增长 14%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/7902889-past-earnings-growth-1-dark-2/1766886178141" alt="" original-src="https://images.simplywall.st/asset/chart/7902889-past-earnings-growth-1-dark-2/1766886178141"/></p>
<p>SEHK:1913 Past Earnings Growth December 28th 2025</p>
<div class="lb-trans"><p>SEHK:1913 过去的盈利增长 2025 年 12 月 28 日</p>
</div><p>The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. Is 1913 fairly valued? This infographic on the company's intrinsic value has everything you need to know.</p>
<div class="lb-trans"><p>对公司的估值在很大程度上与其盈利增长相关。投资者应尝试确定预期的盈利增长或下降，无论是哪种情况，是否已被定价。这有助于他们判断股票的未来是光明还是黯淡。1913 的估值是否合理？这张关于公司内在价值的信息图包含了你需要知道的一切。</p>
</div><h2>Is Prada Using Its Retained Earnings Effectively?</h2>
<div class="lb-trans"><h2>普拉达是否有效利用其留存收益？</h2>
</div><p>Prada has a three-year median payout ratio of 49% (where it is retaining 51% of its income) which is not too low or not too high. This suggests that its dividend is well covered, and given the high growth we discussed above, it looks like Prada is reinvesting its earnings efficiently.</p>
<div class="lb-trans"><p>普拉达的三年中位派息比率为 49%（即保留 51% 的收入），这并不算低也不算高。这表明其股息得到了很好的覆盖，考虑到我们上面讨论的高增长，普拉达似乎在有效地再投资其收益。</p>
</div><p>Moreover, Prada is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 54% of its profits over the next three years. Therefore, the company's future ROE is also not expected to change by much with analysts predicting an ROE of 17%.</p>
<div class="lb-trans"><p>此外，普拉达决心继续与股东分享其利润，这从其至少十年的派息历史中可以看出。根据最新的分析师共识数据，我们发现预计该公司在未来三年内将继续支付约 54% 的利润。因此，分析师预测公司的未来 ROE 也不会有太大变化，预计为 17%。</p>
</div><h2>Conclusion</h2>
<div class="lb-trans"><h2>结论</h2>
</div><p>In total, we are pretty happy with Prada's 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. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. To know more about the company's future earnings growth forecasts take a look at this <strong>free</strong> report on analyst forecasts for the company to find out more.</p>
<div class="lb-trans"><p>总的来说，我们对普拉达的表现感到相当满意。具体来说，我们喜欢公司以高回报率再投资大量利润。这当然导致公司盈利的显著增长。尽管如此，最新的分析师预测显示，公司未来的盈利增长预计将放缓。要了解更多关于公司未来盈利增长预测的信息，请查看这份 <strong>免费</strong> 的分析师预测报告。</p>
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普拉达公司（HKG:1913）的基本面看起来相当强劲：市场对这只股票的看法可能有误吗？