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Are Medlive Technology Co., Ltd.'s (HKG:2192) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?

Are Medlive Technology Co., Ltd.'s (HKG:2192) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?

麦迪科技股份有限公司(HKG:2192)的基本面是否足够好,使得在股票最近的疲软情况下购买值得考虑?
Simply Wall St ·  07/03 18:24

With its stock down 7.4% over the past three months, it is easy to disregard Medlive Technology (HKG:2192). 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. In this article, we decided to focus on Medlive Technology's ROE.

在过去的三个月里,这只股票下跌了7.4%,很容易忽略Medlive Technology (HKG:2192)。但如果您仔细观察,您可能会发现其主要的财务指标看起来相当不错,这可能意味着股票的长期潜力上涨,因为市场通常会给予更具有韧性的长期基本面更大的回报。在这篇文章中,我们决定关注Medlive Technology的roe。

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

股东权益回报率(ROE)是测试公司如何有效地增加其价值并管理投资者资金的指标。简而言之,它用于评估公司相对于股本资本的盈利能力。

How Is ROE Calculated?

净资产收益率怎么计算?

Return on equity can be calculated by using the formula:

股东权益报酬率可以使用以下公式计算:

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 Medlive Technology is:

因此,根据上述公式,Medlive Technology的roe为:

5.4% = CN¥252m ÷ CN¥4.6b (Based on the trailing twelve months to December 2023).

5.4% = CN¥25200万 ÷ CN¥46亿 (截至2023年12月的过去12个月)。

The 'return' is the yearly profit. That means that for every HK$1 worth of shareholders' equity, the company generated HK$0.05 in profit.

“收益”是年利润。这意味着对于每港元的股东权益价值,公司可实现0.05港元的利润。

What Has ROE Got To Do With Earnings Growth?

ROE与盈利增长有什么关系?

Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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,我们了解到ROE是衡量一家公司如何高效地产生利润的指标。 根据公司选择重新投资或“保留”的利润的比例,我们能够评估公司未来产生利润的能力。 假设其他所有内容保持不变,则ROE和盈利保留比越高,公司的增长速度就越高,这与那些不一定具备这些特征的公司相比。

Medlive Technology's Earnings Growth And 5.4% ROE

Medlive Technology的盈利增长与5.4% roe

At first glance, Medlive Technology's ROE doesn't look very promising. We then compared the company's ROE to the broader industry and were disappointed to see that the ROE is lower than the industry average of 10%. In spite of this, Medlive Technology was able to grow its net income considerably, at a rate of 41% in the last five years. Therefore, there could be other reasons behind this growth. For instance, the company has a low payout ratio or is being managed efficiently.

乍一看,Medlive Technology的roe看起来并不很光明。我们随后将公司的roe与整个行业进行了比较,并失望地发现,roe低于10%的行业平均水平。尽管如此,在过去的五年中,Medlive Technology的净收入增长率高达41%。因此,其增长背后可能存在其他原因。例如,该公司具有较低的派息比率或被有效管理。

We then compared Medlive Technology's 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 14% in the same 5-year period.

我们随后将Medlive Technology的净收入增长与整个行业进行了比较,很高兴地看到,公司的增长率比行业高,在同一5年期内增长了14%。

past-earnings-growth
SEHK:2192 Past Earnings Growth July 3rd 2024
SEHK:2192过去的盈利增长2024年7月3日

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 Medlive Technology is trading on a high P/E or a low P/E, relative to its industry.

盈利增长是股票估值的巨大因素。投资者了解市场是否已经消化了公司预期的盈利增长(或下降)非常重要。这样做将有助于他们确定股票的未来前景是否看好或不好。一项好的预期盈利增长指标是市盈率,它根据公司的盈利预期确定市场愿意支付的股票价格。因此,您可能希望检查一下Medlive Technology是否相对于其行业交易高市盈率或低市盈率。

Is Medlive Technology Efficiently Re-investing Its Profits?

Medlive Technology是否有效地再投资其利润?

Medlive Technology has a three-year median payout ratio of 40% (where it is retaining 60% of its income) which is not too low or not too high. This suggests that its dividend is well covered, and given the high growth we discussed above, it looks like Medlive Technology is reinvesting its earnings efficiently.

Medlive Technology的三年中位数派息比率为40%(保留其收入60%),这既不太低也不太高。这表明其股息覆盖良好,并且考虑到我们上面讨论的高增长,Medlive Technology看起来正在有效地再投资其收益。

While Medlive Technology has been growing its earnings, it only recently started to pay dividends which likely means that the company decided to impress new and existing shareholders with a dividend. Looking at the current analyst consensus data, we can see that the company's future payout ratio is expected to rise to 49% over the next three years. Consequently, the higher expected payout ratio explains the decline in the company's expected ROE (to 4.1%) over the same period.

虽然Medlive Technology一直在增长其收益,但最近才开始支付股息,这可能意味着该公司决定通过支付股息来吸引新和现有的股东。查看当前的分析师共识数据,我们可以看到公司未来的派息比率预计将在未来三年内上升到49%。因此,较高的预期派息比率解释了同一时期公司预期roe的下降(至4.1%)。

Conclusion

结论

On the whole, we do feel that Medlive Technology has some positive attributes. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. With that said, on studying the latest analyst forecasts, we found that while the company has seen growth in its past earnings, analysts expect its future earnings to shrink. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.

总的来说,我们确实认为Medlive Technology具有一些积极的特点。即使收益率低,该公司也因大量再投资其业务而实现了惊人的盈利增长。话虽如此,在研究最新的分析师预测时,我们发现尽管该公司在过去的盈利中看到了增长,但分析师预计其未来的盈利将会下降。了解有关该公司未来盈利增长预测的更多信息,请查看有关该公司分析师预测的免费报告。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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 (at) simplywallst.com。
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。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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