share_log

Are GKHT Medical Technology Co., Ltd.'s (SZSE:301370) Mixed Financials The Reason For Its Gloomy Performance on The Stock Market?

Are GKHT Medical Technology Co., Ltd.'s (SZSE:301370) Mixed Financials The Reason For Its Gloomy Performance on The Stock Market?

GKHt 医疗科技股份有限公司(SZSE:301370)的混合财务状况是其在股市表现不佳的原因吗?
Simply Wall St ·  07/16 22:03

With its stock down 25% over the past three months, it is easy to disregard GKHT Medical Technology (SZSE:301370). It is possible that the markets have ignored the company's differing financials and decided to lean-in to the negative sentiment. Stock prices are usually driven by a company's financial performance over the long term, and therefore we decided to pay more attention to the company's financial performance. Particularly, we will be paying attention to GKHT Medical Technology's ROE today.

GKHt医疗技术(SZSE:301370)最近三个月股价下跌了25%,很容易被忽视。可能市场忽略了该公司不同的财务状况,决定投入负面情绪。股票价格通常受到公司长期财务表现的推动,因此我们决定更加关注该公司的财务表现。特别是,我们今天将关注GKHt医疗技术的ROE。

Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

股本回报率或ROE是一项用于评估公司管理层如何利用公司资本的效率的关键指标。简而言之,它用于评估公司相对于其股本资本的盈利能力。

How Is ROE Calculated?

净资产收益率怎么计算?

The formula for ROE is:

roe的公式是:

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 GKHT Medical Technology is:

因此,根据上述公式,GKHt医疗技术的ROE为:

6.4% = CN¥164m ÷ CN¥2.6b (Based on the trailing twelve months to March 2024).

6.4% = CN¥16400万 ÷ CN¥26亿(根据截至2024年3月的过去十二个月计算).

The 'return' is the profit over the last twelve months. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.06 in profit.

“回报”是过去12个月的利润。这意味着,对于每1元股东权益价值,该公司可以创造0.06元的利润。

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。

So far, we've learned that ROE is a measure of a company's profitability. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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是公司利润能力的一个衡量标准,现在我们需要评估公司再投资或“保留”的利润,以此来了解公司的增长潜力。假设其他所有因素保持不变,roe和利润保留率越高,公司的增长速度就越高,相对于不一定具备这些特征的公司而言。

A Side By Side comparison of GKHT Medical Technology's Earnings Growth And 6.4% ROE

GKHt医疗技术盈利增长和6.4% ROE的并列比较:

On the face of it, GKHT Medical Technology's ROE is not much to talk about. Yet, a closer study shows that the company's ROE is similar to the industry average of 6.4%. Having said that, GKHT Medical Technology's five year net income decline rate was 3.0%. Remember, the company's ROE is a bit low to begin with. Therefore, the decline in earnings could also be the result of this.

表面上看,GKHt医疗技术的ROE没有太多值得谈论的。然而,更仔细的研究表明,该公司的ROE与行业平均水平相似。话虽如此,GKHt医疗技术的五年净收益下降率为3.0%。请记住,该公司的ROE本来就有点低,因此收益下降也可能是这个原因导致的。因此,我们将GKHt医疗技术的业绩与行业进行了比较,但很失望地发现,虽然该公司一直在缩小其盈利规模,但行业在过去几年中的盈利增长率为4.2%.

So, as a next step, we compared GKHT Medical Technology's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 4.2% over the last few years.

因此,作为下一步,我们将GKHt医疗技术的业绩与行业进行了比较,但很失望地发现,虽然该公司一直在缩小其盈利规模,但行业在过去几年中的盈利增长率为4.2%。

big
SZSE:301370 Past Earnings Growth July 17th 2024
SZSE:301370过去收益增长情况2024年7月17日

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about GKHT Medical Technology's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

赋予公司价值的基础很大程度上取决于其收益增长。接下来,投资者需要判断的是,预期的盈利增长或缺乏盈利增长是否已经反映在股价中。这样做将有助于他们确定该股票的未来是看涨还是看跌。如果您想了解GKHt医疗技术的估值,请查看其市盈率与行业的比较。

Is GKHT Medical Technology Efficiently Re-investing Its Profits?

GKHt医疗技术是否有效地再投资其利润?

In spite of a normal three-year median payout ratio of 33% (that is, a retention ratio of 67%), the fact that GKHT Medical Technology's earnings have shrunk is quite puzzling. So there could be some other explanations in that regard. For instance, the company's business may be deteriorating.

尽管GKHt医疗技术的三年中位数分红比率为33%(即保留比率为67%),但该公司的盈利缩水相当令人困惑。因此,可能有其他解释。例如,该公司的业务可能正在恶化。

Conclusion

结论

In total, we're a bit ambivalent about GKHT Medical Technology's performance. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. To know the 2 risks we have identified for GKHT Medical Technology visit our risks dashboard for free.

总的来说,我们对GKHt医疗技术的业绩还持有矛盾看法。尽管它似乎保留了大部分利润,但考虑到ROE较低,投资者可能不会从所有再投资中获益。低盈利增长表明我们的理论是正确的。总之,我们将谨慎对待这家公司,其中一种方法是查看其业务的风险概况。要了解我们为GKHt医疗技术确定的两个风险,请免费查看我们的风险仪表板。

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?对内容感到担忧?请直接与我们联系。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?对内容感到担忧?请直接与我们联系。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
    抢沙发