Could The Market Be Wrong About Xiamen Solex High-tech Industries Co., Ltd. (SHSE:603992) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About Xiamen Solex High-tech Industries Co., Ltd. (SHSE:603992) Given Its Attractive Financial Prospects?
With its stock down 9.8% over the past week, it is easy to disregard Xiamen Solex High-tech Industries (SHSE:603992). However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Specifically, we decided to study Xiamen Solex High-tech Industries' ROE in this article.
由于上周股票下跌9.8%,容易忽视松霖科技(SHSE:603992)。但是,股票价格通常由公司长期的财务表现驱动,在这种情况下,看起来相当有前途。具体来说,我们决定在本文中研究松霖科技的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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
roe指股东权益回报率,是一种有用的工具,用于评估公司如何有效地从股东获得的投资中产生回报。简单来说,这衡量了一家公司相对于股东权益的盈利能力。
How Do You Calculate Return On Equity?
怎样计算ROE?
ROE can be calculated by using the formula:
净资产收益率可以使用以下公式进行计算:
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 Xiamen Solex High-tech Industries is:
因此,根据上述公式,松霖科技的roe为:
17% = CN¥452m ÷ CN¥2.7b (Based on the trailing twelve months to March 2024).
17%= CN¥45200万 ÷ CN¥27亿(基于截至2024年3月的最近十二个月)。
The 'return' is the profit over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.17.
“回报”是过去十二个月的利润。这意味着,对于股东的每1元投资,该公司能够创造0.17元利润。
Why Is ROE Important For Earnings Growth?
ROE对于盈利增长的重要性是什么?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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 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衡量公司如何高效地生成利润。现在我们需要评估公司以后的增长潜力,即公司重新投资或“保留”的利润。其他条件相同的情况下,同时具有较高的股权回报率和较高的利润保留的公司通常是相对于不具备相同特点的公司而言增长率更高的公司。
A Side By Side comparison of Xiamen Solex High-tech Industries' Earnings Growth And 17% ROE
松霖科技收益增长和17%roe的并列比较
To start with, Xiamen Solex High-tech Industries' ROE looks acceptable. Especially when compared to the industry average of 8.3% the company's ROE looks pretty impressive. This probably laid the ground for Xiamen Solex High-tech Industries' moderate 7.5% net income growth seen over the past five years.
首先,松霖科技的roe看起来是可以接受的。特别是与8.3%的行业平均水平相比,公司的roe看起来相当令人印象深刻。这可能为松霖科技在过去五年中实现的适度7.5%的净利润增长奠定了基础。
Next, on comparing with the industry net income growth, we found that Xiamen Solex High-tech Industries' growth is quite high when compared to the industry average growth of 4.2% in the same period, which is great to see.
接下来,通过与行业净利润增长进行比较,我们发现,在同一时期,与行业平均增长率4.2%相比,松霖科技的增长率相当高,这是一个好的现象。
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Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. 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 Xiamen Solex High-tech Industries 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。投资者需要判断的下一步是预期的盈利增长,或者缺乏盈利增长已经反映在股价中。然后,这有助于他们判断股票的未来是光明还是暗淡。预期盈利增长的一个好的指标是市盈率,它根据公司的盈利前景确定市场愿意为股票支付的价值。因此,您可能需要检查松霖科技的市盈率高还是低,与其所在的行业相对比。
Is Xiamen Solex High-tech Industries Efficiently Re-investing Its Profits?
松霖科技有效地再投资其利润吗?
With a three-year median payout ratio of 29% (implying that the company retains 71% of its profits), it seems that Xiamen Solex High-tech Industries is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.
由于三年的中位数股息支付比率为29%(意味着公司保留其利润的71%),因此似乎松霖科技正在有效地再投资,以获得其盈利的可观增长并支付股息。
Moreover, Xiamen Solex High-tech Industries is determined to keep sharing its profits with shareholders which we infer from its long history of four years of paying a dividend.
此外,从其四年支付股息的悠久历史中,我们推断出松霖科技将继续与股东分享其利润。
Conclusion
结论
On the whole, we feel that Xiamen Solex High-tech Industries' performance has been quite good. 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. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. 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,我们认为松霖科技的业绩相当不错。具体来说,我们喜欢公司以高回报率再投资其大部分利润。当然,这导致了公司收益的大幅增长。话虽如此,最新的行业分析师预测表明,预计该公司的收益将加速增长。要了解更多有关公司的最新分析师预测,请查看此分析师预测的可视化。
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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?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。