Has Southchip Semiconductor Technology(Shanghai) Co., Ltd.'s (SHSE:688484) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
Has Southchip Semiconductor Technology(Shanghai) Co., Ltd.'s (SHSE:688484) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
Most readers would already be aware that Southchip Semiconductor Technology(Shanghai)'s (SHSE:688484) stock increased significantly by 8.6% over the past week. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to study its financial indicators more closely to see if they had a hand to play in the recent price move. Specifically, we decided to study Southchip Semiconductor Technology(Shanghai)'s ROE in this article.
大多數讀者應該已經知道,南芯半導體科技(上海)的S(上海證券交易所股票代碼:688484)的股票在過去一週大幅上漲了8.6%。鑑於股價通常與公司的長期財務表現一致,我們決定更仔細地研究其財務指標,看看它們是否對最近的價格走勢起到了作用。具體地說,我們決定在本文中研究南芯半導體科技(上海)S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. Put another way, it reveals the company's success at turning shareholder investments into profits.
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。換句話說,它揭示了該公司成功地將股東投資轉化為利潤。
Check out our latest analysis for Southchip Semiconductor Technology(Shanghai)
查看我們對南芯半導體技術(上海)的最新分析
How Is ROE Calculated?
淨資產收益率是如何計算的?
Return on equity can be calculated by using the formula:
股本回報率可使用以下公式計算:
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 Southchip Semiconductor Technology(Shanghai) is:
因此,根據上述公式,南芯半導體技術(上海)的淨資產收益率為:
4.2% = CN¥144m ÷ CN¥3.5b (Based on the trailing twelve months to June 2023).
4.2%=1.44億元×35億元(以截至2023年6月的12個月為基礎)。
The 'return' is the income the business earned over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.04.
“回報”指的是企業在過去一年中獲得的收入。因此,這意味著股東每投資1元人民幣,公司就會產生0.04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. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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。我們現在需要評估公司將多少利潤再投資或“保留”用於未來的增長,這就讓我們對公司的增長潛力有了一個瞭解。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。
Southchip Semiconductor Technology(Shanghai)'s Earnings Growth And 4.2% ROE
中芯國際半導體科技(上海)S盈利增長4.2%淨資產收益率
As you can see, Southchip Semiconductor Technology(Shanghai)'s ROE looks pretty weak. Even compared to the average industry ROE of 5.6%, the company's ROE is quite dismal. However, we we're pleasantly surprised to see that Southchip Semiconductor Technology(Shanghai) grew its net income at a significant rate of 45% in the last five years. Therefore, there could be other reasons behind this growth. For instance, the company has a low payout ratio or is being managed efficiently.
正如你所看到的,南芯半導體科技(上海)的S的淨資產收益率看起來相當疲軟。即使與5.6%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。然而,我們驚喜地看到,南芯半導體科技(上海)在過去五年中淨利潤以45%的顯著速度增長。因此,這種增長背後可能有其他原因。例如,該公司的派息率較低或管理效率較高。
We then compared Southchip Semiconductor Technology(Shanghai)'s net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 29% in the same 5-year period.
然後我們比較了南芯半導體科技(上海)S的淨收入增長與行業,我們很高興地看到,該公司的增長數位比行業更高,後者在同一5年期間的增長率為29%。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231017/0-b7706c8ce0f6b42b5405163e37b5f639-0-cfcdc82284a726c47baf53d539e3b6ee.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). 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 Southchip Semiconductor Technology(Shanghai) is trading on a high P/E or a low P/E, relative 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)。這有助於他們確定這只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,你可能想看看南芯半導體科技(上海)相對於其行業的本益比是高還是低。
Is Southchip Semiconductor Technology(Shanghai) Making Efficient Use Of Its Profits?
南芯國際半導體科技(上海)是否在有效利用其利潤?
The three-year median payout ratio for Southchip Semiconductor Technology(Shanghai) is 45%, which is moderately low. The company is retaining the remaining 55%. This suggests that its dividend is well covered, and given the high growth we discussed above, it looks like Southchip Semiconductor Technology(Shanghai) is reinvesting its earnings efficiently.
南芯半導體科技(上海)的三年中位數派息率為45%,屬中等偏低水準。該公司將保留剩餘的55%。這表明其股息得到了很好的覆蓋,考慮到我們上面討論的高增長,南芯半導體科技(上海)似乎正在有效地對其收益進行再投資。
Conclusion
結論
In total, it does look like Southchip Semiconductor Technology(Shanghai) has some positive aspects to its business. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. On studying current analyst estimates, we found that analysts expect the company to continue its recent growth streak. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
總體而言,看起來南芯半導體科技(上海)的業務確實有一些積極的方面。儘管回報率很低,但由於對業務進行了大量再投資,該公司實現了令人印象深刻的收益增長。在研究了分析師目前的預測後,我們發現,分析師預計該公司將繼續最近的增長勢頭。要了解更多有關該公司未來收益增長預測的資訊,請查看以下內容免費報告分析師對該公司的預測,以瞭解更多資訊.
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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.