Tianjin Yiyi Hygiene Products Co.,Ltd (SZSE:001206) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
Tianjin Yiyi Hygiene Products Co.,Ltd (SZSE:001206) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
It is hard to get excited after looking at Tianjin Yiyi Hygiene ProductsLtd's (SZSE:001206) recent performance, when its stock has declined 23% over the past month. But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. Specifically, we decided to study Tianjin Yiyi Hygiene ProductsLtd's ROE in this article.
看了天津怡卫生用品有限公司(SZSE:001206)最近的表现,很难感到兴奋,当时其股票在过去一个月中下跌了23%。但是,如果你密切关注,你可能会发现其关键财务指标看起来相当不错,考虑到市场通常会奖励更具弹性的长期基本面,这可能意味着该股有可能在长期内上涨。具体而言,我们决定在本文中研究天津怡卫生用品有限公司的投资回报率。
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,因为它可以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。
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 Tianjin Yiyi Hygiene ProductsLtd is:
因此,根据上述公式,天津怡怡卫生用品有限公司的投资回报率为:
6.1% = CN¥111m ÷ CN¥1.8b (Based on the trailing twelve months to September 2023).
6.1% = 1.11亿元人民币 ÷ 18亿元人民币(基于截至2023年9月的过去十二个月)。
The 'return' is the yearly profit. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.06 in profit.
“回报” 是每年的利润。这意味着,每持有价值1元人民币的股权,公司就会产生0.06元人民币的利润。
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. 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.
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。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。
A Side By Side comparison of Tianjin Yiyi Hygiene ProductsLtd's Earnings Growth And 6.1% ROE
天津怡卫生用品有限公司的收益增长和6.1%的投资回报率的并排比较
When you first look at it, Tianjin Yiyi Hygiene ProductsLtd's ROE doesn't look that attractive. However, given that the company's ROE is similar to the average industry ROE of 5.3%, we may spare it some thought. Even so, Tianjin Yiyi Hygiene ProductsLtd has shown a fairly decent growth in its net income which grew at a rate of 12%. Given the slightly low ROE, it is likely that there could be some other aspects that are driving this growth. Such as - high earnings retention or an efficient management in place.
当你第一次看时,天津怡怡卫生用品有限公司的投资回报率看起来并不那么吸引人。但是,鉴于该公司的投资回报率与5.3%的行业平均投资回报率相似,我们可以不加思索。即便如此,天津怡卫生用品有限公司的净收入仍表现出相当不错的增长,增长了12%。鉴于投资回报率略低,可能还有其他一些方面推动这种增长。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 the growth figure reported by Tianjin Yiyi Hygiene ProductsLtd compares quite favourably to the industry average, which shows a decline of 1.3% over the last few years.
接下来,与行业净收入增长相比,我们发现天津怡怡卫生用品有限公司公布的增长数字与行业平均水平相比相当不错,行业平均水平在过去几年中下降了1.3%。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240202/0-d1981a1870f796b2aa565307aceed44f-0-d4f237a89a14fa7d9091530dd70bf922.png/big)
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. 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 Tianjin Yiyi Hygiene ProductsLtd is trading on a high P/E or a low P/E, relative to its industry.
为公司附加价值的基础在很大程度上与其收益增长息息相关。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。通过这样做,他们将知道股票是走向清澈的蓝色海水还是沼泽水域在等着呢。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,您可能需要检查天津怡卫生用品有限公司相对于其行业是高市盈率还是低市盈率。
Is Tianjin Yiyi Hygiene ProductsLtd Using Its Retained Earnings Effectively?
天津怡怡卫生用品有限公司是否在有效使用其留存收益?
With a three-year median payout ratio of 49% (implying that the company retains 51% of its profits), it seems that Tianjin Yiyi Hygiene ProductsLtd is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.
天津怡卫生用品有限公司的三年派息率中位数为49%(这意味着该公司保留了51%的利润),看来天津怡卫生用品有限公司正在进行有效的再投资,其收益将实现可观的增长,并支付的股息覆盖范围广。
While Tianjin Yiyi Hygiene ProductsLtd has been growing its earnings, it only recently started to pay dividends which likely means that the company decided to impress new and existing shareholders with a dividend. Our latest analyst data shows that the future payout ratio of the company is expected to drop to 31% over the next three years. The fact that the company's ROE is expected to rise to 9.8% over the same period is explained by the drop in the payout ratio.
尽管天津怡怡卫生用品有限公司的收益一直在增长,但它直到最近才开始派发股息,这可能意味着该公司决定通过分红来打动新老股东。我们最新的分析师数据显示,该公司的未来派息率预计将在未来三年降至31%。该公司的投资回报率预计将在同期上升至9.8%,这一事实可以用派息率的下降来解释。
Summary
摘要
In total, it does look like Tianjin Yiyi Hygiene ProductsLtd has some positive aspects to its business. 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,天津怡怡卫生用品有限公司的业务看起来确实有一些积极的方面。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。