Dongguan Aohai Technology Co., Ltd.'s (SZSE:002993) Stock Is Going Strong: Is the Market Following Fundamentals?
Dongguan Aohai Technology Co., Ltd.'s (SZSE:002993) Stock Is Going Strong: Is the Market Following Fundamentals?
Most readers would already be aware that Dongguan Aohai Technology's (SZSE:002993) stock increased significantly by 20% over the past three months. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes. Particularly, we will be paying attention to Dongguan Aohai Technology's ROE today.
大多数读者已经意识到,东莞奥海科技(SZSE:002993)的股票在过去三个月中大幅上涨了20%。鉴于公司令人印象深刻的业绩,我们决定更仔细地研究其财务指标,因为公司的长期财务状况通常决定市场结果。特别是,我们今天将关注东莞奥海科技的投资回报率。
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.
股本回报率或投资回报率是用于评估公司管理层利用公司资本效率的关键指标。简而言之,它衡量公司相对于股东权益的盈利能力。
See our latest analysis for Dongguan Aohai Technology
查看我们对东莞奥海科技的最新分析
How To Calculate Return On Equity?
如何计算股本回报率?
The formula for return on equity is:
股本回报率的公式是:
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 Dongguan Aohai Technology is:
因此,根据上述公式,东莞奥海科技的投资回报率为:
8.8% = CN¥416m ÷ CN¥4.7b (Based on the trailing twelve months to June 2023).
8.8% = 4.16亿元人民币 ¥47亿元人民币(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. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.09 in profit.
“回报” 是企业去年获得的收入。另一种思考方式是,公司每拥有价值1元人民币的股权,就能获得0.09元的利润。
Why Is ROE Important For Earnings Growth?
为什么投资回报率对收益增长很重要?
So far, we've learned that ROE is a measure of a company's profitability. 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. 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.
到目前为止,我们已经了解到,投资回报率是衡量公司盈利能力的指标。现在,我们需要评估公司再投资或 “保留” 了多少利润以用于未来的增长,从而使我们对公司的增长潜力有所了解。假设其他条件都一样,与功能不相同的公司相比,具有更高股本回报率和更高利润保留率的公司通常具有更高的增长率。
Dongguan Aohai Technology's Earnings Growth And 8.8% ROE
东莞奥海科技的收益增长和8.8%的投资回报率
At first glance, Dongguan Aohai Technology's ROE doesn't look very promising. However, the fact that the company's ROE is higher than the average industry ROE of 6.3%, is definitely interesting. Consequently, this likely laid the ground for the decent growth of 20% seen over the past five years by Dongguan Aohai Technology. That being said, the company does have a slightly low ROE to begin with, just that it is higher than the industry average. So there might well be other reasons for the earnings to grow. Such as- high earnings retention or the company belonging to a high growth industry.
乍一看,东莞奥海科技的投资回报率看起来并不十分乐观。但是,该公司的投资回报率高于6.3%的行业平均投资回报率,这一事实绝对很有趣。因此,这可能为东莞奥海科技在过去五年中实现20%的可观增长奠定了基础。话虽如此,该公司的投资回报率一开始确实略低,只是高于行业平均水平。因此,收益增长很可能还有其他原因。例如-高收益留存率或属于高增长行业的公司。
As a next step, we compared Dongguan Aohai Technology'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 13%.
下一步,我们将东莞奥海科技的净收入增长与行业进行了比较,令人高兴的是,我们发现该公司的增长高于行业平均水平的13%的增长。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231123/0-965289387510bc7f6f4ab6351d021a17-0-ea13bd590a7b403cfddedaaf145e1dc7.png/big)
Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. Is Dongguan Aohai Technology fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增长是估值股票时要考虑的重要指标。投资者应努力确定预期的收益增长或下降,无论情况如何,是否已被考虑在内。这样做将帮助他们确定股票的未来是光明还是不祥。与其他公司相比,东莞奥海科技的估值是否公平?这三种估值指标可能有助于您做出决定。
Is Dongguan Aohai Technology Making Efficient Use Of Its Profits?
东莞奥海科技是否在有效利用其利润?
Dongguan Aohai Technology's three-year median payout ratio to shareholders is 14% (implying that it retains 86% of its income), which is on the lower side, so it seems like the management is reinvesting profits heavily to grow its business.
东莞奥海科技向股东支付的三年中位数为14%(这意味着它保留了收入的86%),处于较低水平,因此管理层似乎正在将利润进行大量再投资以发展业务。
Moreover, Dongguan Aohai Technology is determined to keep sharing its profits with shareholders which we infer from its long history of three years of paying a dividend.
此外,东莞奥海科技决心继续与股东分享利润,这是我们从其三年分红的悠久历史中推断出来的。
Summary
摘要
In total, we are pretty happy with Dongguan Aohai Technology's performance. Specifically, we like that it has been reinvesting a high portion of its profits at a moderate rate of return, resulting in earnings expansion. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
总的来说,我们对东莞奥海科技的表现非常满意。具体而言,我们喜欢它以适度的回报率将很大一部分利润进行再投资,从而实现收益增长。尽管如此,最新的分析师预测显示,该公司的收益将继续增长。这些分析师的预期是基于对该行业的广泛预期,还是基于公司的基本面?点击此处进入我们分析师对公司的预测页面。
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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,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本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型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。