Xiamen Voke Mold & Plastic Engineering Co., Ltd.'s (SZSE:301196) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Xiamen Voke Mold & Plastic Engineering Co., Ltd.'s (SZSE:301196) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Xiamen Voke Mold & Plastic Engineering (SZSE:301196) has had a rough three months with its share price down 12%. 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 Xiamen Voke Mold & Plastic Engineering's ROE in this article.
厦门沃科模塑工程(深圳证券交易所代码:301196)经历了艰难的三个月,其股价下跌了12%。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厦门沃科模塑工程的投资回报率。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. 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用于评估公司管理层利用公司资本效率的关键指标。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?
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 Xiamen Voke Mold & Plastic Engineering is:
因此,根据上述公式,厦门沃科模塑工程的投资回报率为:
5.3% = CN¥163m ÷ CN¥3.1b (Based on the trailing twelve months to September 2023).
5.3% = 1.63亿元人民币 ÷ 31亿元人民币(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. 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” 是过去十二个月的利润。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,公司就会获得0.05元人民币的利润。
Why Is ROE Important For Earnings Growth?
为什么投资回报率对收益增长很重要?
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. 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.
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。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。
Xiamen Voke Mold & Plastic Engineering's Earnings Growth And 5.3% ROE
厦门沃克模塑工程的收益增长和5.3%的投资回报率
When you first look at it, Xiamen Voke Mold & Plastic Engineering's ROE doesn't look that attractive. Next, when compared to the average industry ROE of 7.4%, the company's ROE leaves us feeling even less enthusiastic. Although, we can see that Xiamen Voke Mold & Plastic Engineering saw a modest net income growth of 12% over the past five years. We reckon that there could be other factors at play here. For instance, the company has a low payout ratio or is being managed efficiently.
乍一看,厦门沃科模塑工程的投资回报率看起来并不那么吸引人。接下来,与7.4%的行业平均投资回报率相比,该公司的投资回报率使我们感到不那么热情。但是,我们可以看到,厦门沃科模塑工程在过去五年中净收入略有增长12%。我们认为这里可能还有其他因素在起作用。例如,该公司的派息率较低或管理效率很高。
We then performed a comparison between Xiamen Voke Mold & Plastic Engineering's net income growth with the industry, which revealed that the company's growth is similar to the average industry growth of 11% in the same 5-year period.
然后,我们将厦门沃科模塑工程的净收入增长与该行业的净收入增长进行了比较,结果显示该公司的增长与5年同期11%的行业平均增长率相似。
Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. If you're wondering about Xiamen Voke Mold & Plastic Engineering'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。无论如何,投资者应设法确定预期的收益增长或下降是否已计入其中。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。如果你想知道厦门沃科模塑工程的估值,可以看看这个衡量其与行业相比的市盈率指标。
Is Xiamen Voke Mold & Plastic Engineering Using Its Retained Earnings Effectively?
厦门沃克模塑工程是否有效地使用了其留存收益?
While Xiamen Voke Mold & Plastic Engineering has a three-year median payout ratio of 50% (which means it retains 50% of profits), the company has still seen a fair bit of earnings growth in the past, meaning that its high payout ratio hasn't hampered its ability to grow.
尽管厦门沃克模塑工程的三年派息率中位数为50%(这意味着它保留了50%的利润),但该公司过去的收益仍有相当大的增长,这意味着其高派息率并未阻碍其增长能力。
While Xiamen Voke Mold & Plastic Engineering 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.
尽管厦门沃克模塑工程的收益有所增长,但它直到最近才开始派发股息。该公司很可能决定通过分红给新老股东留下深刻的印象。
Conclusion
结论
On the whole, we do feel that Xiamen Voke Mold & Plastic Engineering has some positive attributes. While no doubt its earnings growth is pretty substantial, we do feel that the reinvestment rate is pretty low, meaning, the earnings growth number could have been significantly higher had the company been retaining more of its profits. So far, we've only made a quick discussion around the company's earnings growth. So it may be worth checking this free detailed graph of Xiamen Voke Mold & Plastic Engineering's past earnings, as well as revenue and cash flows to get a deeper insight into the company's performance.
总的来说,我们确实认为厦门沃科模塑工程具有一些积极的属性。尽管毫无疑问,其收益增长相当可观,但我们确实认为再投资率相当低,这意味着,如果该公司保留更多的利润,收益增长数字本可以大大提高。到目前为止,我们仅就公司的收益增长进行了简短的讨论。因此,可能值得查看这张免费的厦门沃克模塑工程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。