Is Weakness In Zhejiang Yaguang Technology Co.,Ltd. (SHSE:603282) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
Is Weakness In Zhejiang Yaguang Technology Co.,Ltd. (SHSE:603282) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
It is hard to get excited after looking at Zhejiang Yaguang TechnologyLtd's (SHSE:603282) recent performance, when its stock has declined 36% over the past three months. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Specifically, we decided to study Zhejiang Yaguang TechnologyLtd's ROE in this article.
看了浙江亚光科技股份有限公司(SHSE: 603282)最近的表现,很难感到兴奋,当时该公司的股票在过去三个月中下跌了36%。但是,股票价格通常由公司的长期财务业绩驱动,在这种情况下,这看起来很有希望。具体而言,我们决定在本文中研究浙江亚光科技有限公司的投资回报率。
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 Do You Calculate Return On Equity?
你如何计算股本回报率?
The formula for ROE is:
ROE 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 Zhejiang Yaguang TechnologyLtd is:
因此,根据上述公式,浙江亚光科技有限公司的投资回报率为:
17% = CN¥204m ÷ CN¥1.2b (Based on the trailing twelve months to September 2023).
17% = 2.04亿元人民币 ÷ 12亿元人民币(基于截至2023年9月的过去十二个月)。
The 'return' is the profit over the last twelve months. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.17 in profit.
“回报” 是过去十二个月的利润。另一种思考方式是,每持有价值1元人民币的股权,该公司就能获得0.17元人民币的利润。
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. 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.
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。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。
Zhejiang Yaguang TechnologyLtd's Earnings Growth And 17% ROE
浙江亚光科技有限公司的收益增长和17%的投资回报率
To start with, Zhejiang Yaguang TechnologyLtd's ROE looks acceptable. Further, the company's ROE compares quite favorably to the industry average of 7.5%. Probably as a result of this, Zhejiang Yaguang TechnologyLtd was able to see an impressive net income growth of 29% over the last five years. However, there could also be other causes behind this growth. For instance, the company has a low payout ratio or is being managed efficiently.
首先,浙江亚光科技有限公司的投资回报率似乎可以接受。此外,该公司的投资回报率与行业平均水平的7.5%相比相当不错。可能正因为如此,浙江亚光科技有限公司在过去五年中实现了29%的惊人净收入增长。但是,这种增长背后可能还有其他原因。例如,该公司的派息率较低或管理效率很高。
As a next step, we compared Zhejiang Yaguang TechnologyLtd's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 11%.
下一步,我们将浙江亚光科技股份有限公司的净收入增长与该行业进行了比较,令人高兴的是,我们发现该公司的增长高于行业平均增长11%。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240417/0-e0670d25d72dfb8514f1886db7e10a6f-0-766e9bf97d8c3ddb853fcb7ec249d1a8.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). Doing so will help them establish if the stock's future looks promising or ominous. 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 Zhejiang Yaguang TechnologyLtd 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。这样做将帮助他们确定股票的未来是乐观还是不祥的。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,您可能需要检查一下相对于其行业,浙江亚光科技股份有限公司的交易市盈率是高还是低。
Is Zhejiang Yaguang TechnologyLtd Efficiently Re-investing Its Profits?
浙江亚光科技有限公司是否有效地将利润再投资?
Zhejiang Yaguang TechnologyLtd's ' three-year median payout ratio is on the lower side at 17% implying that it is retaining a higher percentage (83%) of its profits. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.
浙江亚光科技有限公司的三年派息率中位数处于较低水平,为17%,这意味着它保留了更高的利润百分比(83%)。这表明管理层正在将大部分利润再投资于业务增长,公司的增长就证明了这一点。
While Zhejiang Yaguang TechnologyLtd has seen growth in its earnings, it only recently started to pay a dividend. It is most likely that the company decided to impress new and existing shareholders with a dividend.
尽管浙江亚光科技有限公司的收益有所增长,但它直到最近才开始派息。该公司很可能决定通过分红给新老股东留下深刻的印象。
Summary
摘要
On the whole, we feel that Zhejiang Yaguang TechnologyLtd's performance has been quite good. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. If the company continues to grow its earnings the way it has, that could have a positive impact on its share price given how earnings per share influence long-term share prices. Not to forget, share price outcomes are also dependent on the potential risks a company may face. So it is important for investors to be aware of the risks involved in the business. Our risks dashboard would have the 2 risks we have identified for Zhejiang Yaguang TechnologyLtd.
总的来说,我们觉得浙江亚光科技有限公司的表现相当不错。特别是,我们喜欢该公司对其业务进行大量再投资,而且回报率很高。毫不奇怪,这带来了令人印象深刻的收益增长。考虑到每股收益如何影响长期股价,如果该公司继续以现有方式增长收益,这可能会对其股价产生积极影响。别忘了,股价结果还取决于公司可能面临的潜在风险。因此,投资者必须意识到业务所涉及的风险。我们的风险仪表板将包含我们为浙江亚光科技有限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。