Declining Stock and Decent Financials: Is The Market Wrong About Guangdong Leadyo IC Testing Co., Ltd. (SHSE:688135)?
Declining Stock and Decent Financials: Is The Market Wrong About Guangdong Leadyo IC Testing Co., Ltd. (SHSE:688135)?
Guangdong Leadyo IC Testing (SHSE:688135) has had a rough three months with its share price down 26%. However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. In this article, we decided to focus on Guangdong Leadyo IC Testing's ROE.
广东丽友集成电路测试(上海证券交易所代码:688135)经历了艰难的三个月,其股价下跌了26%。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。在这篇文章中,我们决定重点介绍广东丽友集成电路测试的投资回报率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. 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对公司增值和管理投资者资金的有效性的考验。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 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 Guangdong Leadyo IC Testing is:
因此,根据上述公式,广东丽友集成电路测试的投资回报率为:
1.9% = CN¥22m ÷ CN¥1.1b (Based on the trailing twelve months to December 2023).
1.9% = 2200万元人民币 ÷ 11亿元人民币(基于截至2023年12月的过去十二个月)。
The 'return' is the income the business earned over the last year. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.02 in profit.
“回报” 是企业在过去一年中获得的收入。这意味着,公司每获得价值1元人民币的股东权益,就会产生0.02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?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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,投资回报率衡量的是公司创造利润的效率。现在,我们需要评估公司再投资或 “保留” 了多少利润以用于未来的增长,从而使我们对公司的增长潜力有所了解。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。
Guangdong Leadyo IC Testing's Earnings Growth And 1.9% ROE
广东 Leadyo IC Testing 的收益增长和 1.9% 的投资回报率
It is quite clear that Guangdong Leadyo IC Testing's ROE is rather low. Even compared to the average industry ROE of 6.2%, the company's ROE is quite dismal. Guangdong Leadyo IC Testing was still able to see a decent net income growth of 5.2% over the past five years. We believe that there might be other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.
很明显,广东丽友集成电路测试的投资回报率相当低。即使与6.2%的行业平均投资回报率相比,该公司的投资回报率也相当惨淡。在过去五年中,广东Leadyo集成电路测试仍然能够实现5.2%的不错的净收入增长。我们认为,可能还有其他方面对公司的收益增长产生积极影响。例如——高收益留存率或实行高效管理。
As a next step, we compared Guangdong Leadyo IC Testing's net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 26% in the same period.
下一步,我们将广东Leadyo IC Testing的净收入增长与该行业进行了比较,并失望地看到该公司的增长低于同期26%的行业平均增长。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240328/0-871147b15521be3a19c3d74f8e3affc9-0-be89416b45949df7d0e2632e0ed3ae4b.png/big)
Earnings growth is an important metric to consider when valuing a stock. 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 Guangdong Leadyo IC Testing's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
收益增长是对股票进行估值时要考虑的重要指标。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。如果你想知道广东Leadyo IC Testing的估值,可以看看这个衡量其与行业相比的市盈率指标。
Is Guangdong Leadyo IC Testing Efficiently Re-investing Its Profits?
广东Leadyo IC测试是否有效地将其利润再投资?
While the company did pay out a portion of its dividend in the past, it currently doesn't pay a dividend. We infer that the company has been reinvesting all of its profits to grow its 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。我们推断,该公司一直在将其所有利润再投资于发展业务。
Summary
摘要
On the whole, we do feel that Guangdong Leadyo IC Testing has some positive attributes. Namely, its respectable earnings growth, which it achieved due to it retaining most of its profits. However, given the low ROE, investors may not be benefitting from all that reinvestment after all. Up till now, we've only made a short study of the company's growth data. So it may be worth checking this free detailed graph of Guangdong Leadyo IC Testing's past earnings, as well as revenue and cash flows to get a deeper insight into the company's performance.
总的来说,我们确实认为广东Leadyo集成电路测试具有一些积极的特点。也就是说,其可观的收益增长是由于保留了大部分利润而实现的。但是,鉴于投资回报率低,投资者毕竟可能无法从所有这些再投资中受益。到目前为止,我们只对公司的增长数据进行了简短的研究。因此,可能值得查看这张免费的广东Leadyo IC Testing过去收益以及收入和现金流的详细图表,以更深入地了解该公司的业绩。
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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。