Is Weakness In China Feihe Limited (HKG:6186) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
Is Weakness In China Feihe Limited (HKG:6186) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
It is hard to get excited after looking at China Feihe's (HKG:6186) recent performance, when its stock has declined 5.5% over the past month. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Particularly, we will be paying attention to China Feihe's ROE today.
在看了中国飞鹤(HKG: 6186)最近的表现之后,很难感到兴奋,当时其股票在过去一个月中下跌了5.5%。但是,股价通常是由公司的长期财务业绩推动的,在这种情况下,这看起来很有希望。特别是,我们将关注中国飞鹤今天的投资回报率。
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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回报率或投资回报率是股东需要考虑的重要因素,因为它告诉他们资本再投资的有效性。简而言之,它用于评估公司相对于其股权资本的盈利能力。
See our latest analysis for China Feihe
查看我们对中国飞鹤的最新分析
How Do You Calculate Return On Equity?
你如何计算股本回报率?
The formula for ROE is:
这个 投资回报率的公式 是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润(来自持续经营业务)÷ 股东权益
So, based on the above formula, the ROE for China Feihe is:
因此,根据上述公式,中国飞鹤的投资回报率为:
17% = CN¥4.3b ÷ CN¥26b (Based on the trailing twelve months to June 2023).
17% = 43亿人民币 ^260亿人民币(基于截至2023年6月的过去十二个月)。
The 'return' is the income the business earned over the last year. So, this means that for every HK$1 of its shareholder's investments, the company generates a profit of HK$0.17.
“回报” 是企业在过去一年中获得的收入。因此,这意味着其股东每投资1港元,公司就会产生0.17港元的利润。
What Is The Relationship Between ROE And Earnings Growth?
投资回报率与收益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.
我们已经确定,投资回报率是衡量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” 其利润的多少,我们就可以评估公司未来创造利润的能力。假设其他条件相同,那么与不具有相同特征的公司相比,既有更高的股本回报率又更高的利润留存率的公司通常是增长率更高的公司。
China Feihe's Earnings Growth And 17% ROE
中国飞鹤的收益增长和17%的投资回报率
At first glance, China Feihe seems to have a decent ROE. Further, the company's ROE compares quite favorably to the industry average of 9.0%. This probably laid the ground for China Feihe's moderate 11% net income growth seen over the past five years.
乍一看,中国飞鹤的投资回报率似乎不错。此外,该公司的投资回报率与9.0%的行业平均水平相比相当不错。这可能为中国飞鹤在过去五年中实现11%的温和净收入增长奠定了基础。
Given that the industry shrunk its earnings at a rate of 0.8% over the last few years, the net income growth of the company is quite impressive.
鉴于该行业在过去几年中以0.8%的速度萎缩了收益,该公司的净收入增长相当可观。
![](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20231010/0-2ea27f41a7d1911333c0d76c4d453030-0-eccb907c9ae583e29e77785f2b1d521e.png/big)
SEHK:6186 Past Earnings Growth October 9th 2023
香港联交所:6186 过去的收益增长 2023 年 10 月 9 日
Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is 6186 fairly valued? This infographic on the company's intrinsic value has everything you need to know.
收益增长是估值股票时要考虑的重要指标。对于投资者来说,重要的是要知道市场是否对公司的预期收益增长(或下降)进行了定价。这样做将帮助他们确定该股的未来是充满希望还是不祥。6186 的估值是否公平?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。
Is China Feihe Efficiently Re-investing Its Profits?
中国飞鹤能否有效地将其利润再投资?
With a three-year median payout ratio of 45% (implying that the company retains 55% of its profits), it seems that China Feihe is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.
中国飞鹤的三年中位派息率为45%(这意味着该公司保留了55%的利润),看来中国飞鹤正在进行有效的再投资,其收益增长幅度可观,并支付的股息覆盖良好。
Additionally, China Feihe has paid dividends over a period of three years which means that the company is pretty serious about sharing its profits with shareholders. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to rise to 55% over the next three years. Regardless, the ROE is not expected to change much for the company despite the higher expected payout ratio.
此外,中国飞鹤在三年内支付了股息,这意味着该公司非常认真地与股东分享利润。在研究了最新分析师的共识数据后,我们发现该公司的未来派息率预计将在未来三年内上升至55%。无论如何,尽管预期派息率较高,但预计该公司的投资回报率不会有太大变化。
Summary
摘要
In total, we are pretty happy with China Feihe'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 free report on analyst forecasts for the company to find out more.
总的来说,我们对中国飞鹤的表现非常满意。具体而言,我们喜欢该公司以高回报率将其利润的很大一部分进行再投资。当然,这使该公司的收益大幅增长。既然如此,对分析师最新预测的研究表明,预计该公司未来的收益增长将放缓。要了解有关该公司未来收益增长预测的更多信息,请看这个 免费的 报告分析师对公司的预测,以了解更多信息。
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Simply Wall St 的这篇文章本质上是笼统的。 我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。 它不构成买入或卖出任何股票的建议,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。简而言之,华尔街在上述任何股票中都没有头寸。