Could The Market Be Wrong About Shenzhen Capchem Technology Co., Ltd. (SZSE:300037) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About Shenzhen Capchem Technology Co., Ltd. (SZSE:300037) Given Its Attractive Financial Prospects?
Shenzhen Capchem Technology (SZSE:300037) has had a rough three months with its share price down 27%. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Particularly, we will be paying attention to Shenzhen Capchem Technology's ROE today.
新宙邦(SZSE:300037)近三个月股价下跌27%。然而,股票价格通常受到公司长期财务表现的推动,在这种情况下,看起来相当有前途。特别是今天我们将关注新宙邦的roe。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE或股东权益报酬率是一种有用的工具,用于评估一家公司能否有效地利用来自股东的投资产生回报。换句话说,它揭示了公司将股东的投资变成利润的成功程度。
How To Calculate Return On Equity?
如何计算股东权益报酬率?
The formula for return on equity is:
权益回报率的计算公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润(从持续经营中获得)÷ 股东权益
So, based on the above formula, the ROE for Shenzhen Capchem Technology is:
因此,根据上述公式,新宙邦的roe如下:
9.4% = CN¥926m ÷ CN¥9.9b (Based on the trailing twelve months to March 2024).
9.4%= CN¥926m ÷ CN¥9.9b(基于截至2024年3月的过去十二个月)。
The 'return' is the amount earned after tax 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¥0.09 in profit.
“回报”是税后收益的金额,在过去的十二个月中获得。一个概念化这个的方法是对于每个CN ¥1的股东资本,公司获得了CN ¥0.09的利润。
What Is The Relationship Between ROE And Earnings Growth?
既然我们已经确定ROE是一种有效的利润生成标准,用于评估公司未来的盈利能力,我们现在需要评估公司“保留”为未来增长而重新投资的利润多少,这使我们对公司的增长潜力有了一个了解。一般而言,在其他条件相等的情况下,ROE和利润留存高的公司,增长率比没有这些属性的公司要高。
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 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.
因此,我们已经了解到roe是衡量公司利润率的有效方法。根据公司重新投资或“保留”这些收益的程度以及其有效程度,我们就能评估公司的盈利增长潜力。假设其他条件相同,权益回报率和利润保留越高的公司通常比没有相同特点的公司具有更快的增长率。
Shenzhen Capchem Technology's Earnings Growth And 9.4% ROE
新宙邦的盈利增长和9.4%的roe
When you first look at it, Shenzhen Capchem Technology's ROE doesn't look that attractive. Although a closer study shows that the company's ROE is higher than the industry average of 6.3% which we definitely can't overlook. Especially when you consider Shenzhen Capchem Technology's exceptional 28% net income growth over the past five years. That being said, the company does have a slightly low ROE to begin with, just that it is higher than the industry average. Therefore, the growth in earnings could also be the result of other factors. For example, it is possible that the broader industry is going through a high growth phase, or that the company has a low payout ratio.
当你首次看到它时,新宙邦的roe看起来并不那么有吸引力。尽管更进一步的研究表明,该公司的roe高于6.3%的行业平均水平,这是我们绝对不能忽视的。特别是考虑到新宙邦过去五年的28%净收入增长,这样说来,该公司的roe略低,只是高于行业平均水平。因此,收益增长也可能是其他因素的结果。例如,可能整个行业正在经历高速增长阶段,或者该公司具有较低的派息比率。
Next, on comparing with the industry net income growth, we found that Shenzhen Capchem Technology's growth is quite high when compared to the industry average growth of 8.0% in the same period, which is great to see.
接下来,与行业净收入增长相比较,我们发现新宙邦的增长与同期的行业平均增长8.0%相比相当高,这是不错的。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240524/0-1a787b6ba24211cffcb3c4673cc8ec7f-0-c87a22a0c3a5a1599bb8b33f64cdcf97.png/big)
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. 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 Shenzhen Capchem Technology is trading on a high P/E or a low P/E, relative to its industry.
赋予公司价值的基础在很大程度上与其盈利增长有关。投资者应该尝试确定预期的盈利增长或下降是否被定价。 doing这将有助于他们确定股票的未来看起来是有前途还是不祥。预期收益增长的一个重要指标是市盈率,它根据公司的盈利前景确定市场愿意支付多少价格来购买股票。因此,您可能需要检查新宙邦的市盈率是否高于或低于其行业。
Is Shenzhen Capchem Technology Using Its Retained Earnings Effectively?
新宙邦是否有效利用其留存收益?
Shenzhen Capchem Technology's three-year median payout ratio to shareholders is 24%, which is quite low. This implies that the company is retaining 76% of its profits. So it seems like the management is reinvesting profits heavily to grow its business and this reflects in its earnings growth number.
新宙邦向股东的三年中位数派息比率为24%,相当低。这意味着该公司保留了其76%的利润。因此,管理层似乎正在大量重投利润以增长其业务,这反映在其盈余增长数字中。
Additionally, Shenzhen Capchem Technology has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Looking at the current analyst consensus data, we can see that the company's future payout ratio is expected to rise to 38% over the next three years. Still, forecasts suggest that Shenzhen Capchem Technology's future ROE will rise to 17% even though the the company's payout ratio is expected to rise. We presume that there could some other characteristics of the business that could be driving the anticipated growth in the company's ROE.
此外,新宙邦已经连续十年支付股息,这意味着该公司非常重视与股东分享利润。从当前的分析师共识数据来看,我们可以看到该公司未来的派息比率预计将在未来三年内上升到38%。尽管如此,预测表明,即使该公司的派息比率预计上升,新宙邦未来的roe也将上升至17%。我们推测,公司的其他特点可能推动了公司roe的预期增长。
Summary
总的来说,我们对伟明环保的表现非常满意。具体而言,我们喜欢公司以高回报率再投资了其利润的很大一部分。当然,这导致公司的收益大幅增长。但是,最新的行业分析师预测表明,该公司的收益预计将加速增长。
Overall, we are quite pleased with Shenzhen Capchem Technology's performance. Particularly, we like that the company is reinvesting heavily into its business at a moderate rate of return. Unsurprisingly, this has led to an impressive earnings growth. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
总的来说,我们对新宙邦的业绩感到相当满意。特别是,我们喜欢公司以适度的回报率大量重投其业务。毫不奇怪,这导致了令人印象深刻的盈利增长。最新的行业分析师预测表明,该公司预计将保持当前的增长率。这些分析师的预期基于行业的广泛预期还是公司的基本面?单击此处转到我们的分析师预测页面。
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