Should Weakness in Shanghai Milkground Food Tech Co., Ltd's (SHSE:600882) Stock Be Seen As A Sign That Market Will Correct The Share Price Given Decent Financials?
Should Weakness in Shanghai Milkground Food Tech Co., Ltd's (SHSE:600882) Stock Be Seen As A Sign That Market Will Correct The Share Price Given Decent Financials?
It is hard to get excited after looking at Shanghai Milkground Food Tech's (SHSE:600882) recent performance, when its stock has declined 15% over the past three months. However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. Particularly, we will be paying attention to Shanghai Milkground Food Tech's ROE today.
看了上海Milkground Food Tech公司（SHSE: 600882）最近的表现，很难感到兴奋，当时其股票在过去三个月中下跌了15％。但是，从长远来看，股票价格通常由公司的财务状况驱动，在这种情况下，这看起来相当可观。特别是，我们今天将关注上海Milkground Food Tech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. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
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，它是衡量公司股东提供的资本回报率的盈利比率。
See our latest analysis for Shanghai Milkground Food Tech
查看我们对上海牛奶地食品科技的最新分析
How Is ROE Calculated?
ROE 是如何计算的？
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 Shanghai Milkground Food Tech is:
因此，根据上述公式，上海Milkground Food Tech的投资回报率为：
1.2% = CN¥52m ÷ CN¥4.4b (Based on the trailing twelve months to September 2023).
1.2% = 5200万元人民币 ÷ 44亿元人民币（基于截至2023年9月的过去十二个月）。
The 'return' refers to a company's earnings over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.01.
“回报” 是指公司去年的收益。因此，这意味着其股东每投资1元人民币，公司就会产生0.01元人民币的利润。
Why Is ROE Important For Earnings Growth?
为什么投资回报率对收益增长很重要？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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. 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.
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。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。一般而言，在其他条件相同的情况下，股本回报率和利润留存率高的公司的增长率要高于不具有这些属性的公司。
Shanghai Milkground Food Tech's Earnings Growth And 1.2% ROE
上海Milkground Food Tech的收益增长和1.2％的投资回报率
It is hard to argue that Shanghai Milkground Food Tech's ROE is much good in and of itself. Not just that, even compared to the industry average of 8.5%, the company's ROE is entirely unremarkable. However, we we're pleasantly surprised to see that Shanghai Milkground Food Tech grew its net income at a significant rate of 30% in the last five years. Therefore, there could be other reasons behind this growth. Such as - high earnings retention or an efficient management in place.
很难说上海Milkground Food Tech的投资回报率本身就非常好。不仅如此，即使与8.5％的行业平均水平相比，该公司的投资回报率也完全不引人注目。但是，我们惊喜地看到，上海Milkground Food Tech在过去五年中净收入大幅增长了30％。因此，这种增长背后可能还有其他原因。例如——高收益留存率或实行高效管理。
Next, on comparing with the industry net income growth, we found that Shanghai Milkground Food Tech's growth is quite high when compared to the industry average growth of 7.2% in the same period, which is great to see.
接下来，与行业净收入增长相比，我们发现，与同期行业平均增长7.2％相比，上海Milkground Food Tech的增长相当高，这真是太好了。
Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. If you're wondering about Shanghai Milkground Food Tech's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
收益增长是股票估值的重要因素。投资者接下来需要确定的是，预期的收益增长或缺乏收益是否已经包含在股价中。然后，这可以帮助他们确定股票是面向光明还是暗淡的未来。如果你想知道上海Milkground Food Tech的估值，可以看看这个衡量其市盈率与行业相比的指标。
Is Shanghai Milkground Food Tech Efficiently Re-investing Its Profits?
上海Milkground Food Tech是否有效地将其利润再投资？
Shanghai Milkground Food Tech doesn't pay any dividend to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
上海Milkground Food Tech不向其股东支付任何股息，这意味着该公司一直在将所有利润再投资于该业务。这可能是推动上述高收益增长数字的原因。
Summary
摘要
On the whole, we do feel that Shanghai Milkground Food Tech has some positive attributes. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. 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，我们确实认为上海Milkground Food Tech具有一些积极的特点。尽管回报率很低，但由于对业务进行了大量再投资，该公司的收益增长令人印象深刻。话虽如此，最新的行业分析师预测显示，该公司的收益有望加速。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。