Ningbo Techmation Co.,Ltd.'s (SHSE:603015) On An Uptrend But Financial Prospects Look Pretty Weak: Is The Stock Overpriced?
Ningbo Techmation Co.,Ltd.'s (SHSE:603015) On An Uptrend But Financial Prospects Look Pretty Weak: Is The Stock Overpriced?
The formula for ROE is: Ningbo TechmationLtd's (SHSE:603015) stock is up by a considerable 44% over the past three months. We, however wanted to have a closer look at its key financial indicators as the markets usually pay for long-term fundamentals, and in this case, they don't look very promising. Particularly, we will be paying attention to Ningbo TechmationLtd's ROE today.
寧波科技股份有限公司(上交所股票代碼：603015)的股票在過去三個月裡上漲了44%。然而，我們希望更仔細地看看它的關鍵財務指標，因為市場通常會為長期基本面買單，而在這種情況下，它們看起來並不是很有希望。今天我們特別關注寧波科技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 simpler terms, it measures the profitability of a company in relation to shareholder's equity.
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。簡而言之，它衡量的是一家公司相對於股東權益的盈利能力。
See our latest analysis for Ningbo TechmationLtd
查看我們對寧波科技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 ROE is:
這個淨資產收益率公式是：
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 Ningbo TechmationLtd is:
因此，根據上述公式，寧波科技股份有限公司的淨資產收益率為：
3.3% = CN¥44m ÷ CN¥1.3b (Based on the trailing twelve months to March 2023).
3.3%=CN元4400萬×CN元13億元(基於截至2023年3月的12個月)。
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¥0.03 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0.03元人民幣的利潤。
Why Is ROE Important For Earnings Growth?
為什麼淨資產收益率對收益增長很重要？
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. 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。一般來說，在其他條件相同的情況下，股本回報率和利潤留存較高的公司比不具備這些特徵的公司有更高的增長率。
Ningbo TechmationLtd's Earnings Growth And 3.3% ROE
寧波科技盈利增長3.3%淨資產收益率
It is quite clear that Ningbo TechmationLtd's ROE is rather low. Not just that, even compared to the industry average of 7.4%, the company's ROE is entirely unremarkable. As a result, Ningbo TechmationLtd's flat earnings over the past five years doesn't come as a surprise given its lower ROE.
很明顯，寧波科技股份有限公司的淨資產收益率(ROE)相當低。不僅如此，即使與7.4%的行業平均水準相比，該公司的淨資產收益率也完全不起眼。因此，寧波科技股份有限公司過去五年的收益持平並不令人意外，因為它的淨資產收益率較低。
We then compared Ningbo TechmationLtd's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 13% in the same 5-year period, which is a bit concerning.
然後，我們將寧波科技有限公司的淨收入增長與行業進行了比較，發現該公司的增長數位低於同期13%的行業平均增長率，這有點令人擔憂。
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. Doing so will help them establish if the stock's future looks promising or ominous. 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 Ningbo TechmationLtd is trading on a high P/E or a low P/E, relative to its industry.
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。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。衡量預期收益增長的一個很好的指標是本益比，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，你可能想看看寧波科技股份有限公司相對於其行業是高本益比還是低本益比。
Is Ningbo TechmationLtd Making Efficient Use Of Its Profits?
寧波科技有限公司是否有效利用了利潤？
The high three-year median payout ratio of 50% (meaning, the company retains only 50% of profits) for Ningbo TechmationLtd suggests that the company's earnings growth was miniscule as a result of paying out a majority of its earnings.
寧波科技股份有限公司的三年中值派息率高達50%(即公司只保留50%的利潤)，這表明該公司的收益增長微乎其微，因為該公司支付了大部分收益。
Additionally, Ningbo TechmationLtd has paid dividends over a period of eight years, which means that the company's management is determined to pay dividends even if it means little to no earnings growth.
此外，寧波科技有限公司在八年的時間裡支付了股息，這意味著公司管理層決心支付股息，即使這意味著收益幾乎沒有增長。
Conclusion
結論
In total, we would have a hard think before deciding on any investment action concerning Ningbo TechmationLtd. As a result of its low ROE and lack of much reinvestment into the business, the company has seen a disappointing earnings growth rate. So far, we've only made a quick discussion around the company's earnings growth. So it may be worth checking this free detailed graph of Ningbo TechmationLtd's past earnings, as well as revenue and cash flows to get a deeper insight into the company's performance.
總而言之，在決定對寧波科技有限公司的任何投資行動之前，我們都會三思而後行。由於淨資產收益率較低，對該業務的再投資不足，該公司的收益增長率令人失望。到目前為止，我們只是圍繞該公司的收益增長進行了簡短的討論。所以也許有必要檢查一下免費 詳細圖表寧波科技有限公司過去的收益以及收入和現金流的情況，以更深入地瞭解公司的業績。
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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。