Is INESA Intelligent Tech Inc.'s (SHSE:600602) Stock Price Struggling As A Result Of Its Mixed Financials?
Is INESA Intelligent Tech Inc.'s (SHSE:600602) Stock Price Struggling As A Result Of Its Mixed Financials?
INESA Intelligent Tech (SHSE:600602) has had a rough three months with its share price down 12%. 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. Specifically, we decided to study INESA Intelligent Tech's ROE in this article.
INESA Intelligent Tech(SHSE: 600602)的股价在过去的三个月里下跌了12%。可能市场忽略了该公司的不同财务状况而转向负面情绪。股票价格通常受到公司长期的业务表现推动,因此我们决定更加关注公司的财务业绩。具体而言,我们决定在本文中研究INESA Intelligent Tech的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 To Calculate Return On Equity?
如何计算股东权益报酬率?
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 INESA Intelligent Tech is:
因此,基于上述公式,INESA Intelligent Tech的ROE为:
5.2% = CN¥247m ÷ CN¥4.8b (Based on the trailing twelve months to March 2024).
5.2%=CN¥24700万÷CN¥48亿(基于截至2024年3月的过去12个月)
The 'return' is the yearly profit. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.05 in profit.
“回报”是年度利润。这意味着对于每CN¥1的股东权益价值,公司创造了CN¥0.05的利润。
What Is The Relationship Between ROE And Earnings Growth?
ROE与盈利增长之间的关系是什么?
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 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衡量公司生成利润的效率。根据公司再投资或“保留”的利润比例及其有效性,我们能够评估公司的收益增长潜力。在其他一切保持不变的情况下,roe和利润保留率越高,公司的增长率就越高,相比于那些不一定拥有这些特性的公司。
INESA Intelligent Tech's Earnings Growth And 5.2% ROE
INESA Intelligent Tech的盈利增长和5.2%的ROE
On the face of it, INESA Intelligent Tech's ROE is not much to talk about. However, given that the company's ROE is similar to the average industry ROE of 5.2%, we may spare it some thought. But then again, INESA Intelligent Tech's five year net income shrunk at a rate of 5.8%. Bear in mind, the company does have a slightly low ROE. Hence, this goes some way in explaining the shrinking earnings.
表面上看,INESA Intelligent Tech的ROE并没有什么值得一提的。不过,考虑到该公司的ROE与行业平均ROE相似,我们可能需要考虑一下。但是需要注意的是,INESA Intelligent Tech的五年净利润以5.8%的速度缩水。需要牢记的是,该公司的ROE稍微有些低。因此,这在一定程度上可以解释萎缩的收益。
That being said, we compared INESA Intelligent Tech's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 3.7% in the same 5-year period.
尽管如此,我们将INESA Intelligent Tech的表现与行业进行了比较,并发现,在相同的五年期间内,随着公司收益下降,行业的收益增长了3.7%,这让我们感到担忧。
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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. 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 INESA Intelligent Tech 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一个重要因素。投资者应该努力确定预期的盈利增长或下降(无论哪种情况),无论是市场是否定价。这样做将有助于他们确定股票的未来前景是光明还是险恶。预期收益增长的一个很好的指标是市盈率(P / E比),它根据其盈利前景确定市场愿意为一只股票付出的价格。因此,您可能需要检查INESA Intelligent Tech是否相对于其行业以高P / E还是低P / E进行交易。
Is INESA Intelligent Tech Using Its Retained Earnings Effectively?
INESA Intelligent Tech是否有效地利用了其留存收益?
Despite having a normal three-year median payout ratio of 30% (where it is retaining 70% of its profits), INESA Intelligent Tech has seen a decline in earnings as we saw above. So there could be some other explanations in that regard. For instance, the company's business may be deteriorating.
尽管具有30%的正常三年中位数分红比率(其中将其利润的70%保留),然而因为INESA Intelligent Tech的收益率如上所述出现下降,因此可能有其他说明。例如,该公司的业务可能正在恶化。
Additionally, INESA Intelligent Tech has paid dividends over a period of eight years, which means that the company's management is rather focused on keeping up its dividend payments, regardless of the shrinking earnings. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to rise to 71% over the next three years. However, the company's ROE is not expected to change by much despite the higher expected payout ratio.
此外,INESA Intelligent Tech已经支付分红已达八年之久,这意味着该公司的管理层非常专注于保持其分红付款,而不考虑收益的萎缩。在研究最新的分析师共识数据时,我们发现该公司未来的分红比率预计将在未来三年内上升至71%。但是,尽管分红预期比较高,公司的ROE预计不会有太大变化。
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。
In total, we're a bit ambivalent about INESA Intelligent Tech's performance. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings 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.
总体而言,我们对INESA Intelligent Tech的表现持有一点矛盾的态度。虽然该公司有高的再投资率,但低的ROE表明,所有的再投资并没有为其投资者带来任何好处,而且,它还对收益增长产生了负面影响。尽管如此,最新的行业分析师预测显示,分析师预期看到公司的收益增长率出现了巨大的改善。这些分析师的预期是基于行业的广泛预期还是基于公司的基本面?点击此处进入我们的分析师预测页面以了解更多信息。
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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.
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@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
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。