Declining Stock and Solid Fundamentals: Is The Market Wrong About YAPP Automotive Systems Co., Ltd. (SHSE:603013)?
Declining Stock and Solid Fundamentals: Is The Market Wrong About YAPP Automotive Systems Co., Ltd. (SHSE:603013)?
It is hard to get excited after looking at YAPP Automotive Systems' (SHSE:603013) recent performance, when its stock has declined 7.3% over the past three months. 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. Specifically, we decided to study YAPP Automotive Systems' ROE in this article.
看到雅普汽车系统公司(上海证券交易所股票代码:603013)最近的表现,很难感到兴奋,其股价在过去三个月里下跌了7.3%。然而,仔细看看它稳健的财务状况可能会让你重新考虑。鉴于基本面因素通常会推动长期市场结果,该公司值得关注。具体地说,我们决定在本文中研究Yapp Automotive Systems的ROE。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回报率(ROE)是对一家公司增值和管理投资者资金的效率的测试。简而言之,它是用来评估一家公司相对于其权益资本的盈利能力。
Check out our latest analysis for YAPP Automotive Systems
查看我们对Yapp Automotive Systems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 YAPP Automotive Systems is:
因此,根据上述公式,雅普汽车系统的净资产收益率为:
14% = CN¥560m ÷ CN¥4.0b (Based on the trailing twelve months to June 2023).
14%=CN元5.6亿×CN元40亿元(基于截至2023年6月的12个月)。
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¥0.14 in profit.
“收益”是过去12个月的利润。将其概念化的一种方法是,公司每拥有1元人民币的股东资本,就会获得0.14元的利润。
What Has ROE Got To Do With Earnings Growth?
净资产收益率与盈利增长有什么关系?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. 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.
到目前为止,我们已经了解到净资产收益率衡量的是一家公司创造利润的效率。我们现在需要评估公司将多少利润再投资或“保留”用于未来的增长,这就让我们对公司的增长潜力有了一个了解。一般来说,在其他条件相同的情况下,股本回报率和利润留存较高的公司比不具备这些特征的公司有更高的增长率。
YAPP Automotive Systems' Earnings Growth And 14% ROE
雅普汽车系统的盈利增长和14%的净资产收益率
To begin with, YAPP Automotive Systems seems to have a respectable ROE. Further, the company's ROE compares quite favorably to the industry average of 7.6%. This certainly adds some context to YAPP Automotive Systems' decent 9.4% net income growth seen over the past five years.
首先,Yapp Automotive Systems似乎拥有令人尊敬的净资产收益率。此外,该公司的净资产收益率(ROE)与行业平均水平7.6%相比相当有利。这无疑为Yapp Automotive Systems在过去五年中实现了9.4%的可观净利润增长增添了一些背景。
We then compared YAPP Automotive Systems' net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 3.8% in the same 5-year period.
然后,我们将Yapp Automotive Systems的净收入增长与行业进行了比较,我们很高兴地看到,与同期3.8%的行业增长率相比,该公司的增长数字更高。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231024/0-502f1fc8c2bc7ac46a85560536fca398-0-980189a885427210d763ef4688813dd6.png/big)
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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is YAPP Automotive Systems fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增长是股票估值的一个重要因素。投资者应该尝试确定预期的收益增长或下降是否已计入价格,无论是哪种情况。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,Yapp Automotive Systems的估值是否公平?这3个估值指标可能会帮助你做出决定。
Is YAPP Automotive Systems Efficiently Re-investing Its Profits?
Yapp Automotive Systems是否有效地将其利润进行了再投资?
While YAPP Automotive Systems has a three-year median payout ratio of 64% (which means it retains 36% of profits), the company has still seen a fair bit of earnings growth in the past, meaning that its high payout ratio hasn't hampered its ability to grow.
虽然Yapp Automotive Systems的三年派息率中值为64%(这意味着该公司保留了36%的利润),但该公司过去仍有相当大的收益增长,这意味着其高派息率并未阻碍其增长能力。
Additionally, YAPP Automotive Systems has paid dividends over a period of four years which means that the company is pretty serious about sharing its profits with shareholders.
此外,Yapp Automotive Systems在四年的时间里支付了股息,这意味着该公司非常认真地与股东分享利润。
Summary
摘要
On the whole, we feel that YAPP Automotive Systems' performance has been quite good. In particular, its high ROE is quite noteworthy and also the probable explanation behind its considerable earnings growth. Yet, the company is retaining a small portion of its profits. Which means that the company has been able to grow its earnings in spite of it, so that's not too bad. Until now, we have only just grazed the surface of the company's past performance by looking at the company's fundamentals. To gain further insights into YAPP Automotive Systems' past profit growth, check out this visualization of past earnings, revenue and cash flows.
总体来说,我们觉得Yapp Automotive Systems的表现相当不错。特别是,其高净资产收益率相当值得注意,也是其可观收益增长背后的可能解释。然而,该公司保留了一小部分利润。这意味着,尽管如此,该公司仍能实现收益增长,所以这并不是太糟糕。到目前为止,我们只是通过观察公司的基本面来了解公司过去的业绩。要进一步了解Yapp Automotive Systems过去的利润增长,请查看这张过去收益、收入和现金流的可视化图表。
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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。