Shandong Sino-Agri United Biotechnology Co.,Ltd's (SZSE:003042) Stock Is Rallying But Financials Look Ambiguous: Will The Momentum Continue?
Shandong Sino-Agri United Biotechnology Co.,Ltd's (SZSE:003042) Stock Is Rallying But Financials Look Ambiguous: Will The Momentum Continue?
The formula for return on equity is: 
Shandong Sino-Agri United BiotechnologyLtd's (SZSE:003042) stock is up by a considerable 45% over the past three months. However, we wonder if the company's inconsistent financials would have any adverse impact on the current share price momentum. In this article, we decided to focus on Shandong Sino-Agri United BiotechnologyLtd's ROE.
山東中農聯合生物技術有限公司(SZSE：003042)的股票在過去三個月裏上漲了45%。然而，我們想知道該公司不一致的財務數據是否會對當前的股價勢頭產生不利影響。在本文中，我們決定將重點放在山東中農聯合生物技術有限公司的淨資產收益率上。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回報率(ROE)是對一家公司增值和管理投資者資金的效率的測試。換句話説，它揭示了該公司成功地將股東投資轉化為利潤。
View our latest analysis for Shandong Sino-Agri United BiotechnologyLtd
查看我們對山東中農聯合生物技術有限公司的最新分析
How To Calculate Return On Equity?
如何計算股本回報率？
The formula for return on equity is:
這個股本回報率公式是：
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 Shandong Sino-Agri United BiotechnologyLtd is:
因此，根據上述公式，山東中農聯合生物技術有限公司的淨資產收益率為：
6.5% = CN¥107m ÷ CN¥1.7b (Based on the trailing twelve months to September 2022).
6.5%=人民幣1.07億元×人民幣17億元(基於截至2022年9月的12個月)。
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¥0.06.
“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0.06元的利潤。
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？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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.
到目前為止，我們已經瞭解到淨資產收益率衡量的是一家公司創造利潤的效率。根據公司將這些利潤再投資或“保留”多少，以及這樣做的效率如何，我們就能夠評估一家公司的收益增長潛力。假設其他條件不變，淨資產收益率和利潤保留率越高，與不一定具有這些特徵的公司相比，公司的增長率就越高。
Shandong Sino-Agri United BiotechnologyLtd's Earnings Growth And 6.5% ROE
山東中農聯合生物技術有限公司盈利增長6.5%淨資產收益率
On the face of it, Shandong Sino-Agri United BiotechnologyLtd's ROE is not much to talk about. Next, when compared to the average industry ROE of 9.6%, the company's ROE leaves us feeling even less enthusiastic. Given the circumstances, the significant decline in net income by 14% seen by Shandong Sino-Agri United BiotechnologyLtd over the last five years is not surprising. We believe that there also might be other aspects that are negatively influencing the company's earnings prospects. Such as - low earnings retention or poor allocation of capital.
從表面上看，山東中農聯合生物技術有限公司的淨資產收益率(ROE)並沒有太多可談的內容。其次，與9.6%的行業平均淨資產收益率相比，該公司的淨資產收益率讓我們感覺更不熱情。在這種情況下，山東中農聯合生物技術有限公司在過去五年中淨收入大幅下降14%並不令人意外。我們認為，可能還有其他方面對公司的收益前景產生負面影響。例如-低收益留存或資本分配不佳。
That being said, we compared Shandong Sino-Agri United BiotechnologyLtd's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 20% in the same period.
話雖如此，我們將山東中農聯合生物技術有限公司的表現與行業進行了比較，當我們發現該公司在同一時期盈利縮水時，該行業的盈利卻以20%的速度增長時，我們感到擔憂。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. If you're wondering about Shandong Sino-Agri United BiotechnologyLtd's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
賦予一家公司價值的基礎在很大程度上與其盈利增長掛鈎。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)。這樣做將有助於他們確定該股的未來看起來是光明的還是不祥的。如果你想知道山東中農聯合生物技術有限公司的估值，看看這個衡量其市盈率的指標，與其行業相比。
Is Shandong Sino-Agri United BiotechnologyLtd Making Efficient Use Of Its Profits?
山東中農聯合生物技術有限公司是否有效利用了利潤？
Shandong Sino-Agri United BiotechnologyLtd's low three-year median payout ratio of 20% (or a retention ratio of 80%) over the last three years should mean that the company is retaining most of its earnings to fuel its growth but the company's earnings have actually shrunk. The low payout should mean that the company is retaining most of its earnings and consequently, should see some growth. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
山東中農聯合生物技術有限公司過去三年的派息率中值較低，為20%(或留存率為80%)，這應該意味着該公司將保留大部分收益來推動增長，但該公司的收益實際上已經縮水。較低的派息應該意味着該公司保留了大部分收益，因此應該會看到一些增長。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
Overall, we have mixed feelings about Shandong Sino-Agri United BiotechnologyLtd. 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. Our risks dashboard would have the 3 risks we have identified for Shandong Sino-Agri United BiotechnologyLtd.
總體而言，我們對山東中農聯合生物技術有限公司的看法複雜。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。我們的風險儀錶板將包含我們為山東中農聯合生物技術有限公司確定的3個風險。
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。
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。