Qtone Education Group (Guangdong) Co.,Ltd's (SZSE:300359) Financials Are Too Obscure To Link With Current Share Price Momentum: What's In Store For the Stock?
Qtone Education Group (Guangdong) Co.,Ltd's (SZSE:300359) Financials Are Too Obscure To Link With Current Share Price Momentum: What's In Store For the Stock?
Most readers would already be aware that Qtone Education Group (Guangdong)Ltd's (SZSE:300359) stock increased significantly by 34% over the past month. But the company's key financial indicators appear to be differing across the board and that makes us question whether or not the company's current share price momentum can be maintained. In this article, we decided to focus on Qtone Education Group (Guangdong)Ltd's ROE.
大多數讀者應該已經知道,Qone教育集團(廣東)有限公司(SZSE:300359)的股票在過去一個月裏大幅上漲了34%。但該公司的關鍵財務指標似乎在所有方面都不同,這讓我們質疑該公司目前的股價勢頭能否保持下去。在本文中,我們決定將重點放在Qone教育集團(廣東)有限公司的淨資產收益率上。
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。
View our latest analysis for Qtone Education Group (Guangdong)Ltd
查看我們對QTone教育集團(廣東)有限公司的最新分析
How Do You Calculate Return On Equity?
你如何計算股本回報率?
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 Qtone Education Group (Guangdong)Ltd is:
因此,根據上述公式,QTone教育集團(廣東)有限公司的淨資產收益率為:
1.9% = CN¥14m ÷ CN¥764m (Based on the trailing twelve months to March 2022).
1.9%=1400萬元×7.64億元(以截至2022年3月的12個月為基礎)。
The 'return' is the profit 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¥0.02 in profit.
“收益”是過去12個月的利潤。一種概念化的方法是,公司每擁有1元人民幣的股東資本,就會獲得0.02元人民幣的利潤。
What Is The Relationship Between ROE And Earnings Growth?
淨資產收益率與盈利增長之間有什麼關係?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
我們已經證實,淨資產收益率是一家公司未來收益的有效盈利指標。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。
Qtone Education Group (Guangdong)Ltd's Earnings Growth And 1.9% ROE
快通教育集團(廣東)有限公司盈利增長1.9%淨資產收益率
It is quite clear that Qtone Education Group (Guangdong)Ltd's ROE is rather low. Even compared to the average industry ROE of 6.8%, the company's ROE is quite dismal. For this reason, Qtone Education Group (Guangdong)Ltd's five year net income decline of 8.7% is not surprising given its lower ROE. However, there could also be other factors causing the earnings to decline. For instance, the company has a very high payout ratio, or is faced with competitive pressures.
很明顯,QTone教育集團(廣東)有限公司的淨資產收益率相當低。即使與6.8%的行業平均淨資產收益率相比,該公司的淨資產收益率也相當慘淡。因此,QTone教育集團(廣東)有限公司五年來淨收入下降8.7%並不令人意外,因為它的淨資產收益率較低。然而,也可能有其他因素導致收益下降。例如,該公司的派息率非常高,或者面臨競爭壓力。
However, when we compared Qtone Education Group (Guangdong)Ltd's growth with the industry we found that while the company's earnings have been shrinking, the industry has seen an earnings growth of 14% in the same period. This is quite worrisome.
然而,當我們將Qone教育集團(廣東)有限公司的增長與行業進行比較時,我們發現,儘管該公司的收益一直在縮水,但同期該行業的收益增長了14%。這相當令人擔憂。
Earnings growth is an important metric to consider when valuing a stock. 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 Qtone Education Group (Guangdong)Ltd fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增長是評估一隻股票時需要考慮的一個重要指標。投資者下一步需要確定的是,預期的收益增長是否已經計入了股價。通過這樣做,他們將知道股票是將進入清澈的藍色水域,還是等待沼澤水域。與其他公司相比,QTone教育集團(廣東)有限公司的價值是否公平?這3個估值指標可能會幫助你做出決定。
Is Qtone Education Group (Guangdong)Ltd Making Efficient Use Of Its Profits?
QTone教育集團(廣東)有限公司是否有效利用了其利潤?
Qtone Education Group (Guangdong)Ltd doesn't pay any dividend, meaning that the company is keeping all of its profits, which makes us wonder why it is retaining its earnings if it can't use them to grow its business. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
快通教育集團(廣東)有限公司不支付任何股息,這意味着該公司保留了所有利潤,這讓我們不禁要問,如果它不能利用這些利潤來增長業務,它為什麼還要保留收益。看起來可能還有其他一些原因來解釋這方面的缺乏。例如,這項業務可能正在衰落。
Conclusion
結論
In total, we're a bit ambivalent about Qtone Education Group (Guangdong)Ltd's performance. 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. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. To know the 3 risks we have identified for Qtone Education Group (Guangdong)Ltd visit our risks dashboard for free.
總體而言,我們對酷派教育集團(廣東)有限公司的表現有點矛盾。雖然該公司的再投資率確實很高,但低ROE意味着所有的再投資都沒有給投資者帶來任何好處,而且對收益增長產生了負面影響。總而言之,我們將謹慎對待這家公司,其中一種方法是查看業務的風險概況。要了解我們為QTone教育集團(廣東)有限公司確定的3個風險,請免費訪問我們的風險儀錶板。
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本文由Simply Wall St.撰寫,具有概括性。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。Simply Wall St.對上述任何一隻股票都沒有持倉。