KINGSEMI Co., Ltd.'s (SHSE:688037) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
KINGSEMI Co., Ltd.'s (SHSE:688037) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
KINGSEMI (SHSE:688037) has had a rough week with its share price down 6.7%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. Particularly, we will be paying attention to KINGSEMI's ROE today.
近期KINGSEMI (SHSE:688037)的股价下跌了6.7%。但是如果您仔细观察,可能会发现其强大的财务状况意味着该股票在长期内有望增值,因为市场通常会奖励具有良好财务健康的公司。特别是今天我们将关注KINGSEMI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. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回报率或roe是一项关键指标,用于评估公司管理层使用公司资本的效率。换句话说,它揭示了公司将股东的投资转化为利润的成功。
How To Calculate Return On Equity?
如何计算股东权益报酬率?
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 KINGSEMI is:
所以,根据以上公式,KINGSEMI的ROE为:
8.2% = CN¥200m ÷ CN¥2.4b (Based on the trailing twelve months to March 2024).
8.2% = CN¥ 20000万 ÷ CN¥ 24亿(基于截至2024年3月的过去十二个月)。
The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.08 in profit.
'回报'是上一年度税后收入。从一个角度来看,对于每一元股东的资本,公司赚取了0.08元的利润。
Why Is ROE Important For Earnings Growth?
ROE为什么对净利润增长很重要?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
到目前为止,我们已经知道roe衡量公司生成利润的效率。根据公司选择再投资或“保留”的利润的多少,我们能够评估公司未来生成利润的能力。一般而言,在其他条件相等的情况下,roe和盈利保留较高的公司,比没有这些属性的公司增长率更高。
KINGSEMI's Earnings Growth And 8.2% ROE
KINGSEMI的盈利增长和8.2%的ROE
On the face of it, KINGSEMI's ROE is not much to talk about. Although a closer study shows that the company's ROE is higher than the industry average of 5.8% which we definitely can't overlook. Particularly, the substantial 47% net income growth seen by KINGSEMI over the past five years is impressive . That being said, the company does have a slightly low ROE to begin with, just that it is higher than the industry average. So, there might well be other reasons for the earnings to grow. For example, it is possible that the broader industry is going through a high growth phase, or that the company has a low payout ratio.
初看之下,KINGSEMI的ROE似乎不值一提。但仔细研究后,我们发现公司的ROE高于行业平均水平5.8%,这绝对是不容忽视的。特别是KINGSEMI在过去五年中实现了47%的净利润增长,这是非常令人印象深刻的。话虽如此,该公司的ROE略低于行业平均水平,只是比行业平均水平高一些而已。因此,盈利增长的原因可能还有其他因素。例如,行业板块正在经历高增长阶段,或者该公司采用的支付比率较低。
We then compared KINGSEMI's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 19% in the same 5-year period.
接下来我们将KINGSEMI的净利润增长与行业平均水平进行了比较,我们很高兴地发现,该公司的增长率比同一5年期内增长率为19%的行业高。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240815/0-545a16d23d57d6bf46cb54e62a0fdf28-0-4b16f22cd5495da1a21d02ec73115544.png/big)
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. This then helps them determine if the stock is placed for a bright or bleak future. Is KINGSEMI fairly valued compared to other companies? These 3 valuation measures might help you decide.
公司价值的评估在很大程度上与其盈利增长有关。投资者需要判断下一个步骤是:预期的盈利增长或其缺乏是否已反映在股价中。这有助于他们判断股票的前景是光明还是暗淡。KINGSEMI相对于其他公司是公平定价的吗?这3个估值指标可能会帮助您决定。
Is KINGSEMI Efficiently Re-investing Its Profits?
KINGSEMI是否在有效地重新投资其利润?
KINGSEMI's three-year median payout ratio to shareholders is 18%, which is quite low. This implies that the company is retaining 82% of its profits. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.
KINGSEMI向股东的三年中位数支付比率为18%,这相当低。这意味着该公司保留了82%的利润。这表明管理层正在通过公司的增长证明大部分利润是再投资到业务中的。
Moreover, KINGSEMI 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,从公司长达四年的派息历史记录来看,KINGSEMI致力于与股东分享其利润。
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。
Overall, we are quite pleased with KINGSEMI's performance. Specifically, we like that it has been reinvesting a high portion of its profits at a moderate rate of return, resulting in earnings expansion. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总体而言,我们对KINGSEMI的表现非常满意。特别是我们喜欢它以适度的回报率高比例重新投资大部分利润,从而实现收益增长。最新的行业分析师预测显示,该公司预计将保持其目前的增长率。要了解有关该公司最新分析师预测的更多信息,请查看此分析师预测可视化。
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。