Should Weakness in Hubei Mailyard Share Co.,Ltd's (SHSE:600107) Stock Be Seen As A Sign That Market Will Correct The Share Price Given Decent Financials?
Should Weakness in Hubei Mailyard Share Co.,Ltd's (SHSE:600107) Stock Be Seen As A Sign That Market Will Correct The Share Price Given Decent Financials?
With its stock down 23% over the past month, it is easy to disregard Hubei Mailyard ShareLtd (SHSE:600107). However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. Specifically, we decided to study Hubei Mailyard ShareLtd's ROE in this article.
在過去的一個月裏，湖北郵電股份有限公司的股價下跌了23%，人們很容易忽視它(上證號：600107)。然而，股價通常是由公司的長期財務狀況推動的，在這種情況下，財務狀況看起來相當不錯。具體地説，我們決定在本文中研究湖北郵電股份有限公司的淨資產收益率。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
股本回報率(ROE)是用來評估公司管理層利用公司資本效率的關鍵指標。換句話説，這是一個衡量公司股東提供的資本回報率的盈利比率。
See our latest analysis for Hubei Mailyard ShareLtd
查看我們對湖北郵電股份有限公司的最新分析
How Is ROE Calculated?
淨資產收益率是如何計算的？
ROE can be calculated by using the formula:
可使用以下公式計算淨資產收益率：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率=(持續經營的)淨利潤？股東權益
So, based on the above formula, the ROE for Hubei Mailyard ShareLtd is:
因此，根據上述公式，湖北郵電股份有限公司的淨資產收益率為：
2.4% = CN¥19m ÷ CN¥789m (Based on the trailing twelve months to March 2022).
2.4%=CN元1900萬×CN元7.89億元(以截至2022年3月的12個月為基礎)。
The 'return' refers to a company's earnings over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.02.
“回報”指的是一家公司過去一年的收益。因此，這意味着股東每投資1元人民幣，公司就會產生0.02元的利潤。
What Has ROE Got To Do With Earnings Growth?
淨資產收益率與盈利增長有什麼關係？
So far, we've learned that ROE is a measure of a company's profitability. 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. 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.
到目前為止，我們瞭解到淨資產收益率是衡量一家公司盈利能力的指標。根據公司選擇再投資或“保留”多少利潤，我們就能夠評估一家公司未來產生利潤的能力。假設其他條件相同，與沒有相同特徵的公司相比，擁有更高股本回報率和更高利潤保留率的公司通常會有更高的增長率。
A Side By Side comparison of Hubei Mailyard ShareLtd's Earnings Growth And 2.4% ROE
湖北郵品股份有限公司盈利增長與淨資產收益率2.4%的並列比較
As you can see, Hubei Mailyard ShareLtd's ROE looks pretty weak. Even when compared to the industry average of 8.5%, the ROE figure is pretty disappointing. Despite this, surprisingly, Hubei Mailyard ShareLtd saw an exceptional 42% net income growth over the past five years. We reckon that there could be other factors at play here. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
如你所見，湖北郵品股份有限公司的淨資產收益率(ROE)看起來相當弱。即使與8.5%的行業平均水平相比，淨資產收益率也是相當令人失望的。儘管如此，令人驚訝的是，湖北郵品股份有限公司在過去五年中淨收入增長了42%。我們認為，可能還有其他因素在起作用。例如，公司管理層可能做出了一些良好的戰略決策，或者公司的派息率較低。
As a next step, we compared Hubei Mailyard ShareLtd's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 3.4%.
下一步，我們將湖北郵電股份有限公司的淨收入增長與行業進行了比較，令人欣喜的是，我們發現該公司看到的增長高於3.4%的行業平均增長。
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). 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 Hubei Mailyard ShareLtd is trading on a high P/E or a low P/E, relative to its industry.
盈利增長是股票估值的一個重要因素。對於投資者來説，重要的是知道市場是否已經消化了公司預期的收益增長(或下降)。這有助於他們確定這隻股票是為光明還是黯淡的未來做準備。衡量預期收益增長的一個很好的指標是市盈率，它根據一隻股票的盈利前景決定市場願意為其支付的價格。因此，你可能想看看湖北郵電股份有限公司的市盈率相對於其行業是高市盈率還是低市盈率。
Is Hubei Mailyard ShareLtd Efficiently Re-investing Its Profits?
湖北郵電股份有限公司是否有效地將利潤進行了再投資？
Hubei Mailyard ShareLtd doesn't pay any dividend to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
湖北郵電股份有限公司不向股東支付任何股息，這意味着該公司一直在將所有利潤再投資於該業務。這很可能是推動上述高收益增長數字的原因。
Conclusion
結論
Overall, we feel that Hubei Mailyard ShareLtd certainly does have some positive factors to consider. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. You can see the 3 risks we have identified for Hubei Mailyard ShareLtd by visiting our risks dashboard for free on our platform here.
總體而言，我們認為湖北郵電股份有限公司確實有一些積極的因素需要考慮。憑藉高再投資率，儘管淨資產收益率較低，該公司的收益實現了相當大的增長。雖然我們不會完全解僱這家公司，但我們要做的是努力確定這項業務在公司周圍做出更明智的決定的風險有多大。您可以通過訪問我們的網站查看我們為湖北郵電股份有限公司確定的3個風險風險控制面板在我們的平臺上是免費的。
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.
對這篇文章有什麼反饋嗎？擔心內容嗎？保持聯繫直接與我們聯繫。或者，也可以給編輯組發電子郵件，地址是implywallst.com。
這篇由《華爾街日報》撰寫的文章本質上是籠統的。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論，我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議，也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意，我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。簡單地説，華爾街在提到的任何股票中都沒有頭寸。