Is Hangzhou Alltest Biotech Co., Ltd.'s (SHSE:688606) Stock Price Struggling As A Result Of Its Mixed Financials?
Is Hangzhou Alltest Biotech Co., Ltd.'s (SHSE:688606) Stock Price Struggling As A Result Of Its Mixed Financials?
With its stock down 20% over the past three months, it is easy to disregard Hangzhou Alltest Biotech (SHSE:688606). 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 Hangzhou Alltest Biotech's ROE today.
杭州奥泰生物科技(上海证券交易所股票代码:688606)的股票在过去三个月中下跌了20%,很容易被忽视。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,我们今天将关注杭州奥泰生物科技的投资回报率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回报率或投资回报率是对公司增值和管理投资者资金的有效性的考验。换句话说,它揭示了公司成功地将股东投资转化为利润。
How To Calculate Return On Equity?
如何计算股本回报率?
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 Hangzhou Alltest Biotech is:
因此,根据上述公式,杭州奥测生物科技的投资回报率为:
4.8% = CN¥180m ÷ CN¥3.8b (Based on the trailing twelve months to December 2023).
4.8% = 1.8亿元人民币 ÷ 38亿元人民币(基于截至2023年12月的过去十二个月)。
The 'return' is the yearly profit. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.05 in profit.
“回报” 是每年的利润。将其概念化的一种方法是,公司每拥有1元人民币的股东资本,就能获得0.05元的利润。
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. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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。根据公司选择将多少利润进行再投资或 “保留”,我们便能够评估公司未来创造利润的能力。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。
Hangzhou Alltest Biotech's Earnings Growth And 4.8% ROE
杭州奥特生物科技的收益增长和4.8%的投资回报率
It is quite clear that Hangzhou Alltest Biotech's ROE is rather low. Even when compared to the industry average of 10.0%, the ROE figure is pretty disappointing. Therefore, the disappointing ROE therefore provides a background to Hangzhou Alltest Biotech's very little net income growth of 4.7% over the past five years.
很明显,杭州奥测生物科技的投资回报率相当低。即使与行业平均水平的10.0%相比,投资回报率的数字也相当令人失望。因此,令人失望的投资回报率为杭州奥泰生物科技在过去五年中仅有4.7%的净收入增长提供了背景。
We then compared Hangzhou Alltest Biotech's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 15% in the same 5-year period, which is a bit concerning.
然后,我们将杭州奥特生物科技的净收入增长与该行业进行了比较,发现该公司的增长数字低于同期15%的行业平均增长率,这有点令人担忧。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240301/0-03f7a48dc176587a986cc92f38c2253e-0-c738266369a471b05fa365cca036e72d.png/big)
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. 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 Hangzhou Alltest Biotech is trading on a high P/E or a low P/E, relative 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。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,您可能需要检查杭州奥泰生物科技相对于其行业的市盈率是高还是低。
Is Hangzhou Alltest Biotech Using Its Retained Earnings Effectively?
杭州奥特生物技术有限公司是否在有效使用其留存收益?
Hangzhou Alltest Biotech has a low three-year median payout ratio of 13% (meaning, the company keeps the remaining 87% of profits) which means that the company is retaining more of its earnings. This should be reflected in its earnings growth number, but that's not the case. So there might be other factors at play here which could potentially be hampering growth. For example, the business has faced some headwinds.
杭州Alltest Biotech的三年中位数派息率较低,为13%(这意味着该公司保留了剩余的87%的利润),这意味着该公司保留了更多的收益。这应该反映在其收益增长数字上,但事实并非如此。因此,这里可能还有其他因素在起作用,这些因素可能会阻碍增长。例如,该业务面临一些阻力。
Moreover, Hangzhou Alltest Biotech has been paying dividends for three years, which is a considerable amount of time, suggesting that management must have perceived that the shareholders prefer dividends over earnings growth.
此外,杭州奥泰生物科技已经派发股息三年了,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。
Conclusion
结论
Overall, we have mixed feelings about Hangzhou Alltest Biotech. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. Our risks dashboard would have the 2 risks we have identified for Hangzhou Alltest Biotech.
总的来说,我们对杭州奥泰生物科技有喜忧参半的感觉。尽管鉴于投资回报率低,它似乎保留了大部分利润,但投资者毕竟可能无法从所有这些再投资中受益。低收入增长表明我们的理论是正确的。总而言之,我们将谨慎对待这家公司,其中一种方法是研究该业务的风险状况。我们的风险仪表板将包含我们为杭州奥测生物技术公司确定的两种风险。
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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。