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JSTI Group (SZSE:300284) Is Going Strong But Fundamentals Appear To Be Mixed : Is There A Clear Direction For The Stock?

JSTI Group (SZSE:300284) Is Going Strong But Fundamentals Appear To Be Mixed : Is There A Clear Direction For The Stock?

苏交科 (SZSE:300284) 表现强劲,但基本面似乎存在混合信号:股票走势是否明朗?
Simply Wall St ·  10/03 07:11

Most readers would already be aware that JSTI Group's (SZSE:300284) stock increased significantly by 26% over the past week. However, we wonder if the company's inconsistent financials would have any adverse impact on the current share price momentum. Specifically, we decided to study JSTI Group's ROE in this article.

大多数读者可能已经知道,苏交科(SZSE:300284)的股票在过去一周内大幅上涨了26%。但是,我们担心公司不一致的财务状况是否会对当前股价势头产生任何不利影响。具体来说,我们决定在这篇文章中研究苏交科的roe。

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

股东权益回报率(ROE)是测试公司如何有效地增加其价值并管理投资者资金的指标。简而言之,它用于评估公司相对于股本资本的盈利能力。

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 JSTI Group is:

因此,根据上述公式,苏交科集团的ROE为:

3.4% = CN¥299m ÷ CN¥8.7b (Based on the trailing twelve months to June 2024).

3.4% = CN¥29900万 ÷ CN¥87亿(基于截至2024年6月的过去十二个月)。

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¥0.03.

“回报”是过去12个月的利润。这意味着,对于每一元股东投资,该公司可以获得0.03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. 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. 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.

我们已经确定,ROE是公司未来赚钱能力的有效衡量标准。现在我们需要评估公司为未来增长而再投资或“保留”的利润。这样,我们就能了解公司的增长潜力。一般而言,在其他条件相等的情况下,具有高净资产收益率和利润保留率的公司,比那些不具备这些特点的公司有更高的增长率。

JSTI Group's Earnings Growth And 3.4% ROE

JSTI Group's Earnings Growth And 3.4% ROE

It is hard to argue that JSTI Group's ROE is much good in and of itself. Even when compared to the industry average of 6.8%, the ROE figure is pretty disappointing. For this reason, JSTI Group's five year net income decline of 9.0% is not surprising given its lower ROE. We believe that there also might be other aspects that are negatively influencing the company's earnings prospects. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.

It is hard to argue that JSTI Group's ROE is much good in and of itself. Even when compared to the industry average of 6.8%, the ROE figure is pretty disappointing. For this reason, JSTI Group's five year net income decline of 9.0% is not surprising given its lower ROE. We believe that there also might be other aspects that are negatively influencing the company's earnings prospects. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.

So, as a next step, we compared JSTI Group's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 7.0% over the last few years.

So, as a next step, we compared JSTI Group's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 7.0% over the last few years.

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SZSE:300284 Past Earnings Growth October 2nd 2024
SZSE:300284 Past Earnings Growth October 2nd 2024

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. This then helps them determine if the stock is placed for a bright or bleak future. Is JSTI Group fairly valued compared to other companies? These 3 valuation measures might help you decide.

收益增长是股票估值中的一个重要因素。投资者应该尝试确定预期收益增长或下降是否已经被定价。然后这有助于他们判断股票是面临光明还是黯淡的未来。与其他公司相比,苏交科是否被公平地估值?这3个估值指标可能帮助您做出决定。

Is JSTI Group Making Efficient Use Of Its Profits?

苏交科是否有效利用其利润?

Despite having a normal three-year median payout ratio of 30% (where it is retaining 70% of its profits), JSTI Group has seen a decline in earnings as we saw above. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.

尽管苏交科具有30%的正常三年中位数分红比率(保留70%的利润),但正如我们上面所看到的,苏交科的收入出现下降。看起来可能有一些其他原因来解释这种不足。例如,业务可能正在衰退。

In addition, JSTI Group has been paying dividends over a period of at least ten years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth.

此外,苏交科至少十年来一直在支付股息,这表明管理层认为保持股息支付比业务增长更为重要,即使这是以牺牲业务增长为代价。

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。

On the whole, we feel that the performance shown by JSTI Group can be open to many interpretations. 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. Having said that, looking at current analyst estimates, we found that the company's earnings growth rate is expected to see a huge improvement. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.

总的来看,我们认为苏交科展现出的业绩可以有多方解读。虽然公司的再投资率较高,但低roe意味着所有的再投资并没有给投资者带来任何好处,而且对收益增长有负面影响。话虽如此,根据目前分析师的估计,我们发现公司的收益增长率有望大幅提升。要了解更多关于公司未来收益增长预测的信息,请查看这份免费的分析师预测报告。

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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。

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