Qtone Education Group (Guangdong) Co.,Ltd's (SZSE:300359) Financials Are Too Obscure To Link With Current Share Price Momentum: What's In Store For the Stock?
Qtone Education Group (Guangdong) Co.,Ltd's (SZSE:300359) Financials Are Too Obscure To Link With Current Share Price Momentum: What's In Store For the Stock?
Most readers would already be aware that Qtone Education Group (Guangdong)Ltd's (SZSE:300359) stock increased significantly by 34% over the past month. But the company's key financial indicators appear to be differing across the board and that makes us question whether or not the company's current share price momentum can be maintained. In this article, we decided to focus on Qtone Education Group (Guangdong)Ltd's ROE.
大多数读者应该已经知道,Qone教育集团(广东)有限公司(SZSE:300359)的股票在过去一个月里大幅上涨了34%。但该公司的关键财务指标似乎在所有方面都不同,这让我们质疑该公司目前的股价势头能否保持下去。在本文中,我们决定将重点放在Qone教育集团(广东)有限公司的净资产收益率上。
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.
股本回报率(ROE)是用来评估公司管理层利用公司资本效率的关键指标。换句话说,这是一个衡量公司股东提供的资本回报率的盈利比率。
View our latest analysis for Qtone Education Group (Guangdong)Ltd
查看我们对QTone教育集团(广东)有限公司的最新分析
How Do You Calculate Return On Equity?
你如何计算股本回报率?
ROE can be calculated by using the formula:
可使用以下公式计算净资产收益率:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润?股东权益
So, based on the above formula, the ROE for Qtone Education Group (Guangdong)Ltd is:
因此,根据上述公式,QTone教育集团(广东)有限公司的净资产收益率为:
1.9% = CN¥14m ÷ CN¥764m (Based on the trailing twelve months to March 2022).
1.9%=1400万元×7.64亿元(以截至2022年3月的12个月为基础)。
The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.02 in profit.
“收益”是过去12个月的利润。一种概念化的方法是,公司每拥有1元人民币的股东资本,就会获得0.02元人民币的利润。
What Is The Relationship Between ROE And Earnings Growth?
净资产收益率与盈利增长之间有什么关系?
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 "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.
我们已经证实,净资产收益率是一家公司未来收益的有效盈利指标。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。
Qtone Education Group (Guangdong)Ltd's Earnings Growth And 1.9% ROE
快通教育集团(广东)有限公司盈利增长1.9%净资产收益率
It is quite clear that Qtone Education Group (Guangdong)Ltd's ROE is rather low. Even compared to the average industry ROE of 6.8%, the company's ROE is quite dismal. For this reason, Qtone Education Group (Guangdong)Ltd's five year net income decline of 8.7% is not surprising given its lower ROE. However, there could also be other factors causing the earnings to decline. For instance, the company has a very high payout ratio, or is faced with competitive pressures.
很明显,QTone教育集团(广东)有限公司的净资产收益率相当低。即使与6.8%的行业平均净资产收益率相比,该公司的净资产收益率也相当惨淡。因此,QTone教育集团(广东)有限公司五年来净收入下降8.7%并不令人意外,因为它的净资产收益率较低。然而,也可能有其他因素导致收益下降。例如,该公司的派息率非常高,或者面临竞争压力。
However, when we compared Qtone Education Group (Guangdong)Ltd's growth with the industry we found that while the company's earnings have been shrinking, the industry has seen an earnings growth of 14% in the same period. This is quite worrisome.
然而,当我们将Qone教育集团(广东)有限公司的增长与行业进行比较时,我们发现,尽管该公司的收益一直在缩水,但同期该行业的收益增长了14%。这相当令人担忧。
Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Qtone Education Group (Guangdong)Ltd fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增长是评估一只股票时需要考虑的一个重要指标。投资者下一步需要确定的是,预期的收益增长是否已经计入了股价。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。与其他公司相比,QTone教育集团(广东)有限公司的价值是否公平?这3个估值指标可能会帮助你做出决定。
Is Qtone Education Group (Guangdong)Ltd Making Efficient Use Of Its Profits?
QTone教育集团(广东)有限公司是否有效利用了其利润?
Qtone Education Group (Guangdong)Ltd doesn't pay any dividend, meaning that the company is keeping all of its profits, which makes us wonder why it is retaining its earnings if it can't use them to grow its business. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
快通教育集团(广东)有限公司不支付任何股息,这意味着该公司保留了所有利润,这让我们不禁要问,如果它不能利用这些利润来增长业务,它为什么还要保留收益。看起来可能还有其他一些原因来解释这方面的缺乏。例如,这项业务可能正在衰落。
Conclusion
结论
In total, we're a bit ambivalent about Qtone Education Group (Guangdong)Ltd's performance. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. To know the 3 risks we have identified for Qtone Education Group (Guangdong)Ltd visit our risks dashboard for free.
总体而言,我们对酷派教育集团(广东)有限公司的表现有点矛盾。虽然该公司的再投资率确实很高,但低ROE意味着所有的再投资都没有给投资者带来任何好处,而且对收益增长产生了负面影响。总而言之,我们将谨慎对待这家公司,其中一种方法是查看业务的风险概况。要了解我们为QTone教育集团(广东)有限公司确定的3个风险,请免费访问我们的风险仪表板。
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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。