Lubair Aviation Technology Co., Ltd. (SZSE:001316) Stock Is Going Strong But Fundamentals Look Uncertain: What Lies Ahead ?
Lubair Aviation Technology Co., Ltd. (SZSE:001316) Stock Is Going Strong But Fundamentals Look Uncertain: What Lies Ahead ?
Lubair Aviation Technology (SZSE:001316) has had a great run on the share market with its stock up by a significant 20% over the last week. However, we decided to pay attention to the company's fundamentals which don't appear to give a clear sign about the company's financial health. Specifically, we decided to study Lubair Aviation Technology's ROE in this article.
深圳航空科技(SZSE:001316)在股市上经历了一个伟大的健康,股价在过去的一周中上涨了显着的20%。然而,我们决定关注公司的基本面,这些基本面似乎没有对公司的财务状况提供明确的信号。具体而言,我们决定在本文中研究Lubair Aviation Technology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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
roe,即净资产收益率,是一种评估公司如何有效地从股东手中获取投资回报的有用工具。换句话说,它是一种盈利能力比率,衡量公司股东提供的资本的回报率。
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 Lubair Aviation Technology is:
因此,根据上述公式,Lubair Aviation Technology的roe为:
7.3% = CN¥87m ÷ CN¥1.2b (Based on the trailing twelve months to March 2024).
7.3%= CN¥8700万 ÷ CN¥12亿(基于截至2024年3月的过去十二个月)。
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¥0.07 in profit.
“回报”是年利润。换种方式考虑,对于每1元人民币的股权,公司能够赚取0.07元人民币的利润。
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。
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
我们已经确认roe是一个有效的盈利指标,用于衡量公司未来的盈利能力。现在我们需要评估公司为未来增长重新投资或“保留”的利润有多少,这将给我们提供有关公司增长潜力的想法。假设其他一切相等,具有更高回报率和更高盈利保留的公司通常比没有同样特点的公司具有更高的增长率。
Lubair Aviation Technology's Earnings Growth And 7.3% ROE
Lubair Aviation Technology的盈利增长和7.3%的roe
At first glance, Lubair Aviation Technology's ROE doesn't look very promising. Although a closer study shows that the company's ROE is higher than the industry average of 5.0% which we definitely can't overlook. Still, Lubair Aviation Technology has seen a flat net income growth over the past five years. Remember, the company's ROE is a bit low to begin with, just that it is higher than the industry average. Therefore, the low to flat growth in earnings could also be the result of this.
乍一看,Lubair Aviation Technology的roe看起来并不太有前途。尽管更近距离的研究表明,公司的roe高于5.0%的行业平均水平,我们绝对不能忽视。但是,Lubair Aviation Technology在过去五年中的净利润增长为零。请记住,公司的roe起点有点低,只是高于行业平均水平。因此,收益低迷可能也是这种情况的结果。
As a next step, we compared Lubair Aviation Technology's net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 10% in the same period.
作为下一步,我们将Lubair Aviation Technology的净利润增长与行业进行了比较,并失望地看到公司的增长低于同一时期10%的行业平均增长率。
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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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Lubair Aviation Technology fairly valued compared to other companies? These 3 valuation measures might help you decide.
将价值附加到公司的基础在很大程度上与其盈利增长相关。投资者需要判断的下一步是,预期的盈利增长或缺乏盈利增长是否已经融入股价中。通过这样做,他们将知道股票是否进入了明朗的蓝水区或者是否会有泥泞的水域等待。Lubair Aviation Technology相对其他公司是否公正地定价?这3个估值指标可能会帮助您决定。
Is Lubair Aviation Technology Making Efficient Use Of Its Profits?
Lubair Aviation Technology是否有效利用其利润?
Lubair Aviation Technology has a high three-year median payout ratio of 56% (or a retention ratio of 44%), meaning that the company is paying most of its profits as dividends to its shareholders. This does go some way in explaining why there's been no growth in its earnings.
Lubair Aviation Technology具有高达三年的中位数派息比率为56%(或保留率为44%),这意味着公司将其大部分利润作为分红支付给股东。这在某种程度上解释了为什么其收益没有增长。
Additionally, Lubair Aviation Technology started paying a dividend only recently. So it looks like the management must have perceived that shareholders favor dividends over earnings growth.
此外,Lubair Aviation Technology最近才开始支付股息。因此,管理层看来必须认为股东更喜欢分红而不是收益增长。
Conclusion
结论
On the whole, we feel that the performance shown by Lubair Aviation Technology can be open to many interpretations. Primarily, we are disappointed to see a lack of growth in earnings even in spite of a moderate ROE. Bear in mind, the company reinvests a small portion of its profits, which explains the lack of growth. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. 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,我们认为Lubair Aviation Technology的表现可以有很多种解释。主要是,在适度的roe的情况下,我们很失望地看到盈利没有增长。请记住,公司重新投资了一小部分利润,这解释了缺乏增长。即便如此,最新的分析师预测显示,公司的盈利将继续扩张。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?单击此处转到我们的分析师预测页面。
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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.
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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。