Should Weakness in Hainan Strait Shipping Co.,Ltd.'s (SZSE:002320) Stock Be Seen As A Sign That Market Will Correct The Share Price Given Decent Financials?
Should Weakness in Hainan Strait Shipping Co.,Ltd.'s (SZSE:002320) Stock Be Seen As A Sign That Market Will Correct The Share Price Given Decent Financials?
Hainan Strait ShippingLtd (SZSE:002320) has had a rough three months with its share price down 13%. However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. Particularly, we will be paying attention to Hainan Strait ShippingLtd's ROE today.
海南海峽航運股份有限公司(SZSE:002320)經歷了艱難的三個月,股價下跌了13%。然而,該公司的基本面看起來相當不錯,長期財務狀況通常與未來的市場價格走勢保持一致。今天我們特別關注海南海峽航運有限公司的淨資產收益率。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
淨資產收益率,即股本回報率,是評估一家公司從股東那裡獲得投資回報的有效程度的有用工具。換句話說,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 Hainan Strait ShippingLtd
查看我們對海南海峽航運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 Hainan Strait ShippingLtd is:
因此,根據上述公式,海南海峽航運有限公司的淨資產收益率為:
15% = CN¥923m ÷ CN¥6.1b (Based on the trailing twelve months to June 2023).
15%=9.23億元×61億元(以截至2023年6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¥0.15 in profit.
“收益”是過去12個月的利潤。將其概念化的一種方法是,公司每持有1元人民幣的股東資本,就會獲得0.15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?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
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。
Hainan Strait ShippingLtd's Earnings Growth And 15% ROE
海南海峽航運有限公司盈利增長和15%的淨資產收益率
At first glance, Hainan Strait ShippingLtd seems to have a decent ROE. On comparing with the average industry ROE of 11% the company's ROE looks pretty remarkable. Given the circumstances, we can't help but wonder why Hainan Strait ShippingLtd saw little to no growth in the past five years. We reckon that there could be some other factors at play here that's limiting the company's growth. These include low earnings retention or poor allocation of capital.
乍一看,海南海峽航運有限公司似乎擁有不錯的淨資產收益率。與11%的行業平均淨資產收益率相比,該公司的淨資產收益率看起來相當驚人。在這種情況下,我們不禁要問,為什麼海南海峽航運有限公司在過去五年裡幾乎沒有增長。我們認為,可能還有一些其他因素在發揮作用,限制了公司的增長。這些問題包括低收益留存或資本配置不善。
Next, on comparing with the industry net income growth, we found that Hainan Strait ShippingLtd's reported growth was lower than the industry growth of 25% over the last few years, which is not something we like to see.
接下來,在與行業淨收入增長進行比較時,我們發現海南海峽航運有限公司過去幾年的報告增長低於行業25%的增長,這是我們不願意看到的。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231014/0-06430e6a02204f721ac14ba4fd07313d-0-39dd55818f27e0fb8e899cef532b102e.png/big)
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 Hainan Strait ShippingLtd'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鉤。對於投資者來說,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。如果你想知道海南海峽航運有限公司的估值,看看這個衡量其本益比的指標,與其行業相比。
Is Hainan Strait ShippingLtd Using Its Retained Earnings Effectively?
海南海峽航運有限公司是否有效利用其留存收益?
The high three-year median payout ratio of 73% (meaning, the company retains only 27% of profits) for Hainan Strait ShippingLtd suggests that the company's earnings growth was miniscule as a result of paying out a majority of its earnings.
海南海峽航運有限公司的三年派息率中值為73%(即該公司僅保留利潤的27%),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。
In addition, Hainan Strait ShippingLtd 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,海南海峽航運有限公司在至少十年的時間裡一直在分紅,這表明保持分紅對管理層來說要重要得多,即使這是以業務增長為代價的。
Summary
摘要
In total, it does look like Hainan Strait ShippingLtd has some positive aspects to its business. Yet, the low earnings growth is a bit concerning, especially given that the company has a high rate of return. Investors could have benefitted from the high ROE, had the company been reinvesting more of its earnings. As discussed earlier, the company is retaining a small portion of its profits. Up till now, we've only made a short study of the company's growth data. To gain further insights into Hainan Strait ShippingLtd's past profit growth, check out this visualization of past earnings, revenue and cash flows.
總體而言,海南海峽航運有限公司的業務確實有一些積極的方面。然而,低收益增長有點令人擔憂,特別是考慮到該公司的回報率很高。如果該公司將更多收益進行再投資,投資者本可以從高ROE中受益。正如前面討論的那樣,該公司保留了一小部分利潤。到目前為止,我們只對該公司的增長數據進行了簡短的研究。要進一步瞭解海南海峽航運有限公司過去的利潤增長,請查看這張過去收益、收入和現金流的可視化圖表。
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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.