AVIC (Chengdu)UAS Co., Ltd.'s (SHSE:688297) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
AVIC (Chengdu)UAS Co., Ltd.'s (SHSE:688297) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
AVIC (Chengdu)UAS (SHSE:688297) has had a rough three months with its share price down 14%. However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. Specifically, we decided to study AVIC (Chengdu)UAS' ROE in this article.
AVIC (成都)UAS (SHSE:688297) 的股价在过去三个月中下跌了14%。然而,该公司的基本面看起来相当不错,长期财务通常与未来的市场价格走势保持一致。本文具体研究了AVIC (成都)UAS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 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 AVIC (Chengdu)UAS is:
根据上述公式,AVIC (成都)UAS的ROE为:
3.6% = CN¥211m ÷ CN¥5.8b (Based on the trailing twelve months to March 2024).
3.6%= CN¥21100万 ÷ CN¥58亿(基于截至2024年3月的过去十二个月)
The 'return' is the income the business earned over the last year. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.04 in profit.
“回报”是公司在过去一年中赚取的收入。换句话说,对于每1元股权,公司能够赚取0.04元的利润。
What Is The Relationship Between ROE And Earnings Growth?
ROE与盈利增长之间的关系是什么?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
我们已经意识到,ROE作为公司未来盈利的有效衡量值。根据公司重新投资或“保留”这些利润的程度,以及公司有效地运用这些利润的程度,我们就能评估公司的盈利增长潜力。假设其他所有因素保持不变,ROE和利润保留越高,增长率就会越高,相比于没有这些特点的公司,公司的增长率就会更高。
AVIC (Chengdu)UAS' Earnings Growth And 3.6% ROE
AVIC (成都)UAS的盈利增长和3.6%的ROE
It is quite clear that AVIC (Chengdu)UAS' ROE is rather low. Even when compared to the industry average of 5.0%, the ROE figure is pretty disappointing. Despite this, surprisingly, AVIC (Chengdu)UAS saw an exceptional 21% net income growth over the past five years. We believe that there might be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.
很明显,AVIC (成都)UAS的ROE相当低,即使与行业平均值5.0%相比,ROE数字也令人失望。尽管如此,令人惊讶的是,AVIC (成都)UAS在过去五年中实现了21%的净利润增长。我们认为可能有其他方面对公司的盈利增长产生了积极影响。例如,该公司具有较低的赔率或被有效管理。
Next, on comparing with the industry net income growth, we found that AVIC (Chengdu)UAS' growth is quite high when compared to the industry average growth of 10% in the same period, which is great to see.
接下来,将公司的净利润增长与行业平均增长进行比较,发现AVIC (成都)UAS的增长比同期的行业平均增长10%要高得多,这是非常好的。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240812/0-f19a7e7e9dbf570c7e98b2a87695733e-0-5c44fef69df6d43a2cd16b53b9808016.png/big)
Earnings growth is an important metric to consider when valuing a stock. 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. Is AVIC (Chengdu)UAS fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增长是估价股票时要考虑的一个重要指标。投资者需要了解市场是否已经定价了公司预期的盈利增长(或下降)。这样做有助于他们确定股票的未来前景看起来是有希望还是不利。与其他公司相比,AVIC (成都)UAS是否公正价值?这3个估值措施可能会帮助您做出决定。
Is AVIC (Chengdu)UAS Making Efficient Use Of Its Profits?
AVIC (成都)UAS是否有效利用了其利润?
AVIC (Chengdu)UAS' significant three-year median payout ratio of 63% (where it is retaining only 37% of its income) suggests that the company has been able to achieve a high growth in earnings despite returning most of its income to shareholders.
AVIC (成都)UAS三年的平均支付比率为63%(仅保留37%的收入),表明该公司已能够在将大部分收入返还给股东的情况下实现高增长。
Along with seeing a growth in earnings, AVIC (Chengdu)UAS only recently started paying dividends. Its quite possible that the company was looking to impress its shareholders. Existing analyst estimates suggest that the company's future payout ratio is expected to drop to 28% over the next three years. Accordingly, the expected drop in the payout ratio explains the expected increase in the company's ROE to 8.0%, over the same period.
除了看到收益增长,AVIC (成都)UAS也只是最近开始支付股息。很可能该公司正在努力给股东留下深刻印象。现有分析师的预测表明,该公司未来的支付比率有望在未来三年内降至28%。因此,支付比率的下降导致该公司的ROE在同期内预计增加到8.0%。
Conclusion
结论
On the whole, we do feel that AVIC (Chengdu)UAS has some positive attributes. While no doubt its earnings growth is pretty substantial, we do feel that the reinvestment rate is pretty low, meaning, the earnings growth number could have been significantly higher had the company been retaining more of its profits. 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,我们确实认为AVIC (成都)UAS有一些积极因素。尽管该公司的盈利增长无疑相当可观,但我们确实认为再投资率相当低,这意味着,如果该公司保留更多的利润,其盈利增长数字可能会显着更高。话虽如此,最新的行业分析师预测显示该公司的盈利预计将加速增长。欲了解更多关于该公司的最新分析师预测,请参见此可视化分析。
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。