Are Zhejiang Wanliyang Co., Ltd.'s (SZSE:002434) Mixed Financials Driving The Negative Sentiment?
Are Zhejiang Wanliyang Co., Ltd.'s (SZSE:002434) Mixed Financials Driving The Negative Sentiment?
With its stock down 8.8% over the past three months, it is easy to disregard Zhejiang Wanliyang (SZSE:002434). We, however decided to study the company's financials to determine if they have got anything to do with the price decline. Fundamentals usually dictate market outcomes so it makes sense to study the company's financials. Specifically, we decided to study Zhejiang Wanliyang's ROE in this article.
由于其股价在过去三个月中下跌了8.8%,因此很容易忽视浙江万里洋(SZSE:002434)。但是,我们决定研究该公司的财务状况,以确定它们是否与价格下跌有关。基本面通常决定市场结果,因此研究公司的财务状况是有意义的。具体而言,我们决定在本文中研究浙江万里扬的投资回报率。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Put another way, it reveals the company's success at turning shareholder investments into profits.
投资回报率或股本回报率是评估公司如何有效地从股东那里获得投资回报的有用工具。换句话说,它揭示了公司成功地将股东投资转化为利润。
View our latest analysis for Zhejiang Wanliyang
查看我们对浙江万里扬的最新分析
How Is ROE Calculated?
ROE 是如何计算的?
ROE can be calculated by using the formula:
ROE 可以通过以下公式计算:
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 Zhejiang Wanliyang is:
因此,根据上述公式,浙江万里扬的投资回报率为:
5.8% = CN¥346m ÷ CN¥6.0b (Based on the trailing twelve months to September 2023).
5.8% = 3.46亿元人民币 ¥60亿元人民币(基于截至2023年9月的过去十二个月)。
The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.06 in profit.
“回报” 是过去十二个月的税后收入。另一种看法是,每持有价值1元人民币的股权,公司就能获得0.06元人民币的利润。
What Has ROE Got To Do With Earnings Growth?
投资回报率与收益增长有什么关系?
So far, we've learned that ROE is a measure of a company's profitability. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
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。然后,我们能够评估公司的收益增长潜力,具体取决于公司对这些利润进行再投资或 “保留” 了多少及其有效性。假设其他一切保持不变,那么与不一定具有这些特征的公司相比,投资回报率和利润保留率越高,公司的增长率就越高。
Zhejiang Wanliyang's Earnings Growth And 5.8% ROE
浙江万里扬的收益增长和5.8%的投资回报率
On the face of it, Zhejiang Wanliyang's ROE is not much to talk about. We then compared the company's ROE to the broader industry and were disappointed to see that the ROE is lower than the industry average of 7.5%. Given the circumstances, the significant decline in net income by 23% seen by Zhejiang Wanliyang over the last five years is not surprising. We reckon that there could also be other factors at play here. Such as - low earnings retention or poor allocation of capital.
从表面上看,浙江万里扬的投资回报率没什么好说的。然后,我们将公司的投资回报率与整个行业进行了比较,但失望地发现投资回报率低于行业平均水平的7.5%。在这种情况下,浙江万里扬在过去五年中净收入大幅下降23%也就不足为奇了。我们认为,这里可能还有其他因素在起作用。例如-收益保留率低或资本配置不佳。
That being said, we compared Zhejiang Wanliyang's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 11% in the same 5-year period.
话虽如此,我们将浙江万里扬的业绩与行业进行了比较,当我们发现尽管该公司缩减了收益,但该行业同期的收益却以11%的速度增长时,我们对此感到担忧。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231206/0-63f0b21882fbf89da914d7ce77861986-0-bc40362b3a05bd259c2b52262a559c99.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. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Zhejiang Wanliyang is trading on a high P/E or a low P/E, relative to its industry.
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。衡量预期收益增长的一个很好的指标是市盈率,它根据收益前景决定了市场愿意为股票支付的价格。因此,您可能需要检查浙江万里扬相对于其行业而言是高市盈率还是低市盈率。
Is Zhejiang Wanliyang Making Efficient Use Of Its Profits?
浙江万里扬是否在有效利用其利润?
While the company did payout a portion of its dividend in the past, it currently doesn't pay a dividend. This implies that potentially all of its profits are being reinvested in the business.
尽管该公司过去确实支付了部分股息,但目前不支付股息。这意味着其所有利润都可能被再投资于该业务。
Summary
摘要
Overall, we have mixed feelings about Zhejiang Wanliyang. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. With that said, we studied the latest analyst forecasts and found that while the company has shrunk its earnings in the past, analysts expect its earnings to grow in the future. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总体而言,我们对浙江万里扬有喜忧参半的感觉。尽管该公司的利润保留率确实很高,但其低回报率可能阻碍了其收益增长。话虽如此,我们研究了分析师的最新预测,发现尽管该公司过去曾缩减收益,但分析师预计其未来收益将增长。要详细了解分析师对公司的最新预测,请查看分析师对公司的预测的可视化。
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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。