Is Chengdu Leejun Industrial Co., Ltd.'s (SZSE:002651) Recent Stock Performance Influenced By Its Fundamentals In Any Way?
Is Chengdu Leejun Industrial Co., Ltd.'s (SZSE:002651) Recent Stock Performance Influenced By Its Fundamentals In Any Way?
Chengdu Leejun Industrial (SZSE:002651) has had a great run on the share market with its stock up by a significant 16% over the last week. As most would know, fundamentals are what usually guide market price movements over the long-term, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. Specifically, we decided to study Chengdu Leejun Industrial's ROE in this article.
成都利君实业(SZSE:002651)在股市上表现良好,其股票上周大幅上涨了16%。正如大多数人所知道的那样,基本面通常是指导市场价格长期走势的因素,因此我们今天决定研究公司的关键财务指标,以确定它们在近期的价格走势中是否可以发挥任何作用。具体而言,我们决定在本文中研究成都利君实业的投资回报率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
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,它是衡量公司股东提供的资本回报率的盈利比率。
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 Chengdu Leejun Industrial is:
因此,根据上述公式,成都利君实业的投资回报率为:
4.4% = CN¥121m ÷ CN¥2.8b (Based on the trailing twelve months to December 2023).
4.4% = 1.21亿元人民币 ÷ 28亿元人民币(基于截至2023年12月的过去十二个月)。
The 'return' is the yearly profit. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.04.
“回报” 是每年的利润。因此,这意味着公司每投资1元人民币,公司就会产生0.04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?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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,投资回报率衡量的是公司创造利润的效率。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。
Chengdu Leejun Industrial's Earnings Growth And 4.4% ROE
成都利君实业的收益增长和4.4%的投资回报率
It is hard to argue that Chengdu Leejun Industrial's ROE is much good in and of itself. Even compared to the average industry ROE of 7.4%, the company's ROE is quite dismal. Chengdu Leejun Industrial was still able to see a decent net income growth of 9.2% over the past five years. We reckon that there could be other factors at play here. Such as - high earnings retention or an efficient management in place.
很难说成都利君实业的投资回报率本身就非常好。即使与7.4%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,成都利君实业仍然能够实现9.2%的不错的净收入增长。我们认为这里可能还有其他因素在起作用。例如——高收益留存率或实行高效管理。
We then performed a comparison between Chengdu Leejun Industrial'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,我们将成都利君实业的净收入增长与该行业进行了比较,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。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240424/0-86d80a1ead7d8b17141bfc49a29595f2-0-acabae4779f70e2c598e06d4c98fc5be.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). 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 Chengdu Leejun Industrial 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。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,您可能需要检查成都利君实业相对于其行业是高市盈率还是低市盈率。
Is Chengdu Leejun Industrial Using Its Retained Earnings Effectively?
成都利君实业是否有效地使用了其留存收益?
With a three-year median payout ratio of 31% (implying that the company retains 69% of its profits), it seems that Chengdu Leejun Industrial is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.
成都利君实业的三年派息率中位数为31%(这意味着该公司保留了69%的利润),看来成都利君实业正在进行有效的再投资,其收益将实现可观的增长,并支付可观的股息。
Moreover, Chengdu Leejun Industrial is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years.
此外,成都利君实业决心继续与股东分享利润,这是我们从其支付股息至少十年的悠久历史中推断出来的。
Summary
摘要
Overall, we feel that Chengdu Leejun Industrial certainly does have some positive factors to consider. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. Our risks dashboard would have the 2 risks we have identified for Chengdu Leejun Industrial.
总体而言,我们认为成都利君实业确实有一些积极因素需要考虑。尽管投资回报率很低,但由于再投资率很高,该公司的收益实现了可观的增长。虽然我们不会完全解散公司,但我们要做的是努力确定业务的风险,以便在公司周围做出更明智的决定。我们的风险仪表板将包含我们为成都利君实业确定的两种风险。
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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。