Is Union Optech Co.,Ltd.'s (SZSE:300691) Recent Price Movement Underpinned By Its Weak Fundamentals?
Is Union Optech Co.,Ltd.'s (SZSE:300691) Recent Price Movement Underpinned By Its Weak Fundamentals?
Union OptechLtd (SZSE:300691) has had a rough three months with its share price down 25%. It is possible that the markets have ignored the company's differing financials and decided to lean-in to the negative sentiment. Long-term fundamentals are usually what drive market outcomes, so it's worth paying close attention. Particularly, we will be paying attention to Union OptechLtd's ROE today.
联合光电有限公司(深圳证券交易所代码:300691)经历了艰难的三个月,其股价下跌了25%。市场可能忽视了该公司不同的财务状况,决定倾向于负面情绪。长期基本面通常是推动市场结果的因素,因此值得密切关注。特别是,我们今天将关注联合光电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. 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,它衡量公司相对于股东权益的盈利能力。
How Do You Calculate Return On Equity?
你如何计算股本回报率?
Return on equity can be calculated by using the formula:
股本回报率可以使用以下公式计算:
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 Union OptechLtd is:
因此,根据上述公式,Union OptechLtd的投资回报率为:
3.7% = CN¥61m ÷ CN¥1.7b (Based on the trailing twelve months to September 2023).
3.7% = 6100万元人民币 ÷ 17亿元人民币(基于截至2023年9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¥0.04 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0.04元的利润。
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?
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. 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,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。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。
A Side By Side comparison of Union OptechLtd's Earnings Growth And 3.7% ROE
Union OptechLtd的收益增长和3.7%的投资回报率的并排比较
It is hard to argue that Union OptechLtd's ROE is much good in and of itself. Not just that, even compared to the industry average of 6.7%, the company's ROE is entirely unremarkable. Hence, the flat earnings seen by Union OptechLtd over the past five years could probably be the result of it having a lower ROE.
很难说Union OptechLtd的投资回报率本身就非常不错。不仅如此,即使与6.7%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。因此,Union OptechLtd在过去五年中实现的收益持平可能是其投资回报率较低的结果。
We then compared Union OptechLtd's net income growth with the industry and found that the average industry growth rate was 11% in the same 5-year period.
然后,我们将Union OptechLtd的净收入增长与该行业进行了比较,发现同期的行业平均增长率为11%。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240213/0-8cf92643d657e582e10d59f0b9bdca8e-0-049ead3876b4674f4feaa342f2c7ae3f.png/big)
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. Has the market priced in the future outlook for 300691? You can find out in our latest intrinsic value infographic research report
收益增长是股票估值的重要因素。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。然后,这可以帮助他们确定股票是为光明还是暗淡的未来而布局。市场对300691的未来展望进行了定价吗?你可以在我们最新的内在价值信息图研究报告中找到答案
Is Union OptechLtd Making Efficient Use Of Its Profits?
Union OptechLtd是否在有效利用其利润?
In spite of a normal three-year median payout ratio of 44% (or a retention ratio of 56%), Union OptechLtd hasn't seen much growth in its earnings. Therefore, there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
尽管正常的三年派息率中位数为44%(或56%的留存率),但Union OptechLtd的收益并未出现太大增长。因此,可能还有其他一些原因可以解释这方面的不足。例如,业务可能会下滑。
Moreover, Union OptechLtd has been paying dividends for six years, which is a considerable amount of time, suggesting that management must have perceived that the shareholders prefer dividends over earnings growth.
此外,Union OptechLtd支付股息已有六年了,这是相当长的时间,这表明管理层一定已经意识到股东更喜欢分红而不是收益增长。
Summary
摘要
On the whole, we feel that the performance shown by Union OptechLtd can be open to many interpretations. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. So far, we've only made a quick discussion around the company's earnings growth. To gain further insights into Union OptechLtd's past profit growth, check out this visualization of past earnings, revenue and cash flows.
总的来说,我们认为Union OptechLtd所表现出的表现可以有多种解释。尽管该公司的利润保留率确实很高,但其低回报率可能会阻碍其收益增长。到目前为止,我们仅就公司的收益增长进行了简短的讨论。要进一步了解Union OptechLtd过去的利润增长,请查看过去收益、收入和现金流的可视化图表。
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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。