<p>在看到普拉達（HKG:1913）最近的表現後，很難感到興奮，因為其股票在過去一週下跌了 3.3%。然而，仔細觀察其穩健的財務狀況可能會讓你重新考慮。考慮到基本面通常驅動長期市場結果，這家公司值得關注。特別是，今天我們將關注普拉達的股本回報率（ROE）。</p>
<p>股本回報率（ROE）是評估公司管理層如何有效利用公司資本的關鍵指標。簡單來説，它衡量的是公司相對於股東權益的盈利能力。</p>
<p>這項技術可能會取代計算機：發現 20 只正在努力使量子計算成為現實的股票。</p>
<h2>如何計算股本回報率？</h2>
<p><strong>ROE 可以通過以下公式計算：</strong></p>
<p>股本回報率 = 淨利潤（來自持續經營）÷ 股東權益</p>
<p>因此，根據上述公式，普拉達的 ROE 為：</p>
<p>20% = €845m ÷ €4.2b（基於截至 2025 年 6 月的過去十二個月）。</p>
<p>“回報” 是指過去十二個月的税後收益。換句話説，對於每 1 港元的股本，公司能夠賺取 0.20 港元的利潤。</p>
<p>查看我們對普拉達的最新分析</p>
<h2>ROE 與盈利增長有什麼關係？</h2>
<p>我們已經確定，ROE 作為公司未來盈利的有效利潤生成指標。根據公司選擇再投資或 “保留” 的利潤比例，我們能夠評估公司未來產生利潤的能力。一般來説，其他條件相同的情況下，具有高股本回報率和利潤保留的公司，其增長率高於不具備這些特徵的公司。</p>
<h2>普拉達的盈利增長與 20% ROE</h2>
<p>乍一看，普拉達似乎擁有不錯的 ROE。特別是與行業平均水平 11% 相比，該公司的 ROE 顯得相當令人印象深刻。這可能為普拉達在過去五年中實現 42% 的淨收入增長奠定了基礎。我們認為，還有其他因素可能積極影響公司的盈利增長。例如，該公司的派息比率較低或管理效率較高。</p>
<p>作為下一步，我們將普拉達的淨收入增長與行業進行了比較，令人欣慰的是，我們發現該公司的增長高於行業平均增長 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 過去的盈利增長 2025 年 12 月 28 日</p>
<p>對公司的估值在很大程度上與其盈利增長相關。投資者應嘗試確定預期的盈利增長或下降，無論是哪種情況，是否已被定價。這有助於他們判斷股票的未來是光明還是黯淡。1913 的估值是否合理？這張關於公司內在價值的信息圖包含了你需要知道的一切。</p>
<h2>普拉達是否有效利用其留存收益？</h2>
<p>普拉達的三年中位派息比率為 49%（即保留 51% 的收入），這並不算低也不算高。這表明其股息得到了很好的覆蓋，考慮到我們上面討論的高增長，普拉達似乎在有效地再投資其收益。</p>
<p>此外，普拉達決心繼續與股東分享其利潤，這從其至少十年的派息歷史中可以看出。根據最新的分析師共識數據，我們發現預計該公司在未來三年內將繼續支付約 54% 的利潤。因此，分析師預測公司的未來 ROE 也不會有太大變化，預計為 17%。</p>
<h2>結論</h2>
<p>總的來説，我們對普拉達的表現感到相當滿意。具體來説，我們喜歡公司以高回報率再投資大量利潤。這當然導致公司盈利的顯著增長。儘管如此，最新的分析師預測顯示，公司未來的盈利增長預計將放緩。要了解更多關於公司未來盈利增長預測的信息，請查看這份 <strong>免費</strong> 的分析師預測報告。</p>
<p>用於國防和災難的移動基礎設施</p>
<p>下一波機器人技術不是類人型的。它是完全自主的塔，在 30 分鐘內提供 5G、ISR 和雷達，隨時隨地。</p>
<p>在下一輪合同之前獲取投資者簡報</p>
<p>由 CiTech 贊助</p>

普拉達

<p>普拉達的股票最近下跌了 3.3%，但其強勁的財務狀況，特別是 20% 的股本回報率（ROE），表明其長期增長的潛力。該公司的 ROE 超過了行業平均水平的 11%，在過去五年中推動了 42% 的淨收入增長。普拉達保留了 51% 的收入，表明其有效的再投資。分析師預測未來的 ROE 為 17%，並將繼續維持 54% 的股息支付比例。儘管預計盈利增長將放緩，普拉達的再投資策略仍支持其強勁的表現</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>在看到普拉達（HKG:1913）最近的表現後，很難感到興奮，因為其股票在過去一週下跌了 3.3%。然而，仔細觀察其穩健的財務狀況可能會讓你重新考慮。考慮到基本面通常驅動長期市場結果，這家公司值得關注。特別是，今天我們將關注普拉達的股本回報率（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>股本回報率（ROE）是評估公司管理層如何有效利用公司資本的關鍵指標。簡單來説，它衡量的是公司相對於股東權益的盈利能力。</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>這項技術可能會取代計算機：發現 20 只正在努力使量子計算成為現實的股票。</p>
</div><h2>How To Calculate Return On Equity?</h2>
<div class="lb-trans"><h2>如何計算股本回報率？</h2>
</div><p><strong>ROE can be calculated by using the formula:</strong></p>
<div class="lb-trans"><p><strong>ROE 可以通過以下公式計算：</strong></p>
</div><p>Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity</p>
<div class="lb-trans"><p>股本回報率 = 淨利潤（來自持續經營）÷ 股東權益</p>
</div><p>So, based on the above formula, the ROE for Prada is:</p>
<div class="lb-trans"><p>因此，根據上述公式，普拉達的 ROE 為：</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（基於截至 2025 年 6 月的過去十二個月）。</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>“回報” 是指過去十二個月的税後收益。換句話説，對於每 1 港元的股本，公司能夠賺取 0.20 港元的利潤。</p>
</div><p>Check out our latest analysis for Prada</p>
<div class="lb-trans"><p>查看我們對普拉達的最新分析</p>
</div><h2>What Has ROE Got To Do With Earnings Growth?</h2>
<div class="lb-trans"><h2>ROE 與盈利增長有什麼關係？</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>我們已經確定，ROE 作為公司未來盈利的有效利潤生成指標。根據公司選擇再投資或 “保留” 的利潤比例，我們能夠評估公司未來產生利潤的能力。一般來説，其他條件相同的情況下，具有高股本回報率和利潤保留的公司，其增長率高於不具備這些特徵的公司。</p>
</div><h2>Prada's Earnings Growth And 20% ROE</h2>
<div class="lb-trans"><h2>普拉達的盈利增長與 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，普拉達似乎擁有不錯的 ROE。特別是與行業平均水平 11% 相比，該公司的 ROE 顯得相當令人印象深刻。這可能為普拉達在過去五年中實現 42% 的淨收入增長奠定了基礎。我們認為，還有其他因素可能積極影響公司的盈利增長。例如，該公司的派息比率較低或管理效率較高。</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>作為下一步，我們將普拉達的淨收入增長與行業進行了比較，令人欣慰的是，我們發現該公司的增長高於行業平均增長 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 過去的盈利增長 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>對公司的估值在很大程度上與其盈利增長相關。投資者應嘗試確定預期的盈利增長或下降，無論是哪種情況，是否已被定價。這有助於他們判斷股票的未來是光明還是黯淡。1913 的估值是否合理？這張關於公司內在價值的信息圖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>普拉達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>普拉達的三年中位派息比率為 49%（即保留 51% 的收入），這並不算低也不算高。這表明其股息得到了很好的覆蓋，考慮到我們上面討論的高增長，普拉達似乎在有效地再投資其收益。</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，普拉達決心繼續與股東分享其利潤，這從其至少十年的派息歷史中可以看出。根據最新的分析師共識數據，我們發現預計該公司在未來三年內將繼續支付約 54% 的利潤。因此，分析師預測公司的未來 ROE 也不會有太大變化，預計為 17%。</p>
</div><h2>Conclusion</h2>
<div class="lb-trans"><h2>結論</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>總的來説，我們對普拉達的表現感到相當滿意。具體來説，我們喜歡公司以高回報率再投資大量利潤。這當然導致公司盈利的顯著增長。儘管如此，最新的分析師預測顯示，公司未來的盈利增長預計將放緩。要了解更多關於公司未來盈利增長預測的信息，請查看這份 <strong>免費</strong> 的分析師預測報告。</p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>用於國防和災難的移動基礎設施</p>
</div><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p>
<div class="lb-trans"><p>下一波機器人技術不是類人型的。它是完全自主的塔，在 30 分鐘內提供 5G、ISR 和雷達，隨時隨地。</p>
</div><p>Get the investor briefing before the next round of contracts</p>
<div class="lb-trans"><p>在下一輪合同之前獲取投資者簡報</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>由 CiTech 贊助</p>
</div>

普拉達公司（HKG:1913）的基本面看起來相當強勁：市場對這隻股票的看法可能有誤嗎？