Is Zhongji Innolight Co., Ltd.'s (SZSE:300308) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
Is Zhongji Innolight Co., Ltd.'s (SZSE:300308) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
Most readers would already be aware that Zhongji Innolight's (SZSE:300308) stock increased significantly by 27% over the past three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Particularly, we will be paying attention to Zhongji Innolight's ROE today.
大多数读者都应该知道,中际旭创(SZSE:300308)的股票在过去三个月中大幅增长了27%。考虑到市场长期回报强劲的财务状况,我们想知道这是否在此情况下也成立。特别是,我们将关注今天的中际旭创ROE。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE(净资产收益率)是股东需考虑的一个重要因素,因为它告诉他们资本被有效地再投资的效果如何。换句话说,它揭示了公司将股东的投资转化为利润的成功程度。
How Do You Calculate Return On Equity?
怎样计算ROE?
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 Zhongji Innolight is:
因此,根据上述公式,中际旭创的ROE为:
18% = CN¥3.0b ÷ CN¥17b (Based on the trailing twelve months to March 2024).
18% = CN¥3.0b ÷ CN¥17b(截至2024年3月的最近12个月)。
The 'return' is the yearly profit. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.18 in profit.
‘回报’是每年的利润。换句话说,对于每CN¥1的权益,公司能够赚取CN¥0.18的利润。
What Has ROE Got To Do With Earnings Growth?
ROE与盈利增长有什么关系?
So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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ROE是一家公司盈利能力的衡量标准。基于公司选择重新投资或“保留”的利润的数量,我们随后能够评估公司未来产生利润的能力。假设其他所有条件不变,ROE和利润保留越高,增长率就相对较高,与那些可能不具备这些特征的公司相比,增长更快。
A Side By Side comparison of Zhongji Innolight's Earnings Growth And 18% ROE
中际旭创收益增长和18% ROE的并排比较
To start with, Zhongji Innolight's ROE looks acceptable. On comparing with the average industry ROE of 6.2% the company's ROE looks pretty remarkable. Probably as a result of this, Zhongji Innolight was able to see an impressive net income growth of 31% over the last five years. However, there could also be other causes behind this growth. Such as - high earnings retention or an efficient management in place.
首先,中际旭创的ROE看起来是可以接受的。与行业平均ROE 6.2% 相比,该公司的ROE非常出色。这可能是因为中际旭创在过去五年中实现了31%的令人印象深刻的净收入增长。然而,这种增长也可能有其他原因。例如-高盈利保留或有效的管理机制。
Next, on comparing with the industry net income growth, we found that Zhongji Innolight's growth is quite high when compared to the industry average growth of 15% in the same period, which is great to see.
其次,与行业净收入增长相比,我们发现中际旭创的增长在同一时期相当高,比同期行业平均增长15%高,这是令人欣喜的。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240627/0-48cdd1a810c4214b79d999c81753a86c-0-718c23ee346c75ce54ea35e801d50db2.png/big)
Earnings growth is a huge factor in stock valuation. 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. Is 300308 fairly valued? This infographic on the company's intrinsic value has everything you need to know.
收益增长是股票估值的一个重要因素。投资者应该努力确定预期的收益增长或下降(无论哪种情况),是否被定价含入。这样做将有助于他们确定股票的未来前景是有前途还是不妙。300308是否公允价值?此信息图表显示有关公司内在价值的所有内容。
Is Zhongji Innolight Efficiently Re-investing Its Profits?
中际旭创是否有效地重新投资其利润?
Zhongji Innolight has a really low three-year median payout ratio of 13%, meaning that it has the remaining 87% left over to reinvest into its business. So it looks like Zhongji Innolight is reinvesting profits heavily to grow its business, which shows in its earnings growth.
中际旭创的三年中位数支付比率非常低,为13%,这意味着它还剩下87%的资金重新投资企业。因此,中际旭创似乎在大量重新投资利润以推动业务增长,这反映在其收益增长中。
Moreover, Zhongji Innolight 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. Looking at the current analyst consensus data, we can see that the company's future payout ratio is expected to rise to 18% over the next three years. Still, forecasts suggest that Zhongji Innolight's future ROE will rise to 27% 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,中际旭创决心将利润与股东分享,我们可以从其至少十年支付股息的悠久历史中推断出来。看看当前分析师一致数据,我们可以看出公司未来的支付比率预计将在未来三年内上升至18%。尽管公司预计支付比率将上升,但预测表明中际旭创未来的ROE将上升至27%,我们推测该公司的其他性质可能正在推动其ROE预期增长。
Conclusion
结论
Overall, we are quite pleased with Zhongji Innolight's performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. On studying current analyst estimates, we found that analysts expect the company to continue its recent growth streak. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总体而言,我们对中际旭创的表现感到相当满意。特别是,我们喜欢公司以高回报率大量重新投资利润。当然,这导致公司的收益实现了大幅增长。在研究当前分析师的预测时,我们发现分析师认为该公司将继续保持最近的增长走势。要了解该公司的最新分析师预测,请查看本可视化分析师对该公司的预测。
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这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有反馈?关于内容有所顾虑?直接和我们联系。或者发送电子邮件至editorial-team@simplywallst.com。