Jiangyin Jianghua Microelectronics Materials Co., Ltd's (SHSE:603078) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum?
Jiangyin Jianghua Microelectronics Materials Co., Ltd's (SHSE:603078) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum?
Most readers would already be aware that Jiangyin Jianghua Microelectronics Materials' (SHSE:603078) stock increased significantly by 8.7% over the past week. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. Specifically, we decided to study Jiangyin Jianghua Microelectronics Materials' ROE in this article.
大多数读者应该已经注意到,江阴江华微电子材料(SHSE:603078)股票在过去的一周内显著增长了8.7%。我们想知道公司的财务状况是否在这一价格变动中起到了什么作用,因为公司的长期基本面通常决定了市场的结果。具体而言,在本文中,我们决定研究江阴江华微电子材料的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 Is ROE Calculated?
净资产收益率怎么计算?
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 Jiangyin Jianghua Microelectronics Materials is:
因此,根据上面的公式,江阴江华微电子材料的ROE为:
3.6% = CN¥68m ÷ CN¥1.9b (Based on the trailing twelve months to March 2024).
3.6% = CN¥68m ÷ CN¥1.9b(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. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.04 in profit.
“回报率”是税后在过去12个月内赚取的金额。这意味着对于每CN¥1的股东权益价值,公司产生了CN¥0.04的利润。
Why Is ROE Important For Earnings Growth?
ROE对于盈利增长的重要性是什么?
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 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.
到目前为止,我们已经了解到 ROE 是衡量公司盈利能力的指标。根据公司再投资或“保留”的这些利润的数量以及其有效性,我们可以评估公司的盈利增长潜力。假设其他都相同,ROE 和利润保留较高的公司通常具有更高的增长率,与那些没有这些特点的公司相比。
Jiangyin Jianghua Microelectronics Materials' Earnings Growth And 3.6% ROE
江阴江华微电子材料的盈利增长和3.6%的ROE
It is hard to argue that Jiangyin Jianghua Microelectronics Materials' ROE is much good in and of itself. Even compared to the average industry ROE of 6.3%, the company's ROE is quite dismal. In spite of this, Jiangyin Jianghua Microelectronics Materials was able to grow its net income considerably, at a rate of 26% in the last five years. We reckon that there could be other factors at play here. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
很难争辩江阴江华微电子材料的ROE本身就很好。即使与平均行业ROE(6.3%)相比,该公司的ROE也相当糟糕。尽管如此,江阴江华微电子材料能够以26%的速度增长其净利润。我们认为这里可能存在其他因素。例如,公司的管理层可能作出了一些好的战略决策,或者公司的派息比率很低。
We then compared Jiangyin Jianghua Microelectronics Materials' net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 7.8% in the same 5-year period.
然后,我们将江阴江华微电子材料的净利润增长与行业进行了比较,很高兴看到,在相同的5年期内,该公司的增长率比行业平均增长率(7.8%)高。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240530/0-638dc8866581f8bca3d8f32b86b64ccb-0-cd0d9af8af14e4cd784acb92d4a29ba2.png/big)
Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. What is 603078 worth today? The intrinsic value infographic in our free research report helps visualize whether 603078 is currently mispriced by the market.
盈利增长是估值股票时要考虑的重要指标。投资者了解市场是否已经对公司的预期盈利增长(或下降)进行了定价非常重要。然后,这有助于他们确定股票是否处于光明或暗淡的未来。今天603078值多少钱?我们免费的研究报告中的内在价值信息图表有助于可视化603078是否被市场当前价格不当定价。
Is Jiangyin Jianghua Microelectronics Materials Efficiently Re-investing Its Profits?
江阴江华微电子材料是否高效地再投资利润?
Jiangyin Jianghua Microelectronics Materials has a really low three-year median payout ratio of 22%, meaning that it has the remaining 78% left over to reinvest into its business. So it seems like the management is reinvesting profits heavily to grow its business and this reflects in its earnings growth number.
江阴江华微电子材料的三年中位数派息比率非常低,为22%,这意味着剩余78%用于再投资业务。因此,管理层似乎正在大力再投资利润以促进业务增长,这反映在其盈利增长数字中。
Additionally, Jiangyin Jianghua Microelectronics Materials has paid dividends over a period of six years which means that the company is pretty serious about sharing its profits with shareholders.
此外,江阴江华微电子材料在六年内支付了股息,这意味着该公司确实重视与股东分享利润。
Conclusion
结论
Overall, we feel that Jiangyin Jianghua Microelectronics Materials certainly does have some positive factors to consider. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high earnings growth. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总的来说,我们认为江阴江华微电子材料肯定有一些积极因素需要考虑。尽管其回报率低,但该公司将其利润的非常高的一部分再投资于业务中,无疑促进了其高的盈利增长。即便如此,最新的分析师预测显示该公司将继续扩大盈利。要了解更多关于该公司的最新分析师预测,请查看这份分析师预测的可视化。
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