Jason Furniture (Hangzhou) Co.,Ltd. (SHSE:603816) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?
Jason Furniture (Hangzhou) Co.,Ltd. (SHSE:603816) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?
Jason Furniture (Hangzhou)Ltd (SHSE:603816) has had a rough three months with its share price down 15%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. Particularly, we will be paying attention to Jason Furniture (Hangzhou)Ltd's ROE today.
傑森傢俱（杭州）有限公司（SHSE：603816）經歷了艱難的三個月，其股價下跌了15％。但是，如果你密切關注，你可能會發現，鑑於市場通常會獎勵財務狀況良好的公司，其強勁的財務狀況可能意味着該股的長期價值有可能增加。特別是，我們今天將關注傑森傢俱（杭州）有限公司的投資回報率。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股本回報率或投資回報率是股東需要考慮的重要因素，因爲它可以告訴他們資本再投資的有效性。簡而言之，它衡量公司相對於股東權益的盈利能力。
Check out our latest analysis for Jason Furniture (Hangzhou)Ltd
查看我們對傑森傢俱（杭州）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？
The formula for ROE is:
ROE 的公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤（來自持續經營業務）÷ 股東權益
So, based on the above formula, the ROE for Jason Furniture (Hangzhou)Ltd is:
因此，根據上述公式，傑森傢俱（杭州）有限公司的投資回報率爲：
19% = CN¥1.8b ÷ CN¥9.9b (Based on the trailing twelve months to June 2023).
19% = 18億元人民幣 ≤99億元人民幣（基於截至2023年6月的過去十二個月）。
The 'return' is the profit over the last twelve months. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.19 in profit.
“回報” 是過去十二個月的利潤。這意味着，每持有價值1元人民幣的股東權益，該公司就會產生0.19元人民幣的利潤。
What Has ROE Got To Do With Earnings Growth?
投資回報率與收益增長有什麼關係？
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.
到目前爲止，我們已經了解到，投資回報率衡量的是公司創造利潤的效率。現在，我們需要評估公司再投資或 “保留” 了多少利潤以用於未來的增長，從而使我們對公司的增長潛力有所了解。假設其他一切保持不變，那麼與不一定具有這些特徵的公司相比，投資回報率和利潤保留率越高，公司的增長率就越高。
A Side By Side comparison of Jason Furniture (Hangzhou)Ltd's Earnings Growth And 19% ROE
傑森傢俱（杭州）有限公司收益增長和19％投資回報率的並行比較
To begin with, Jason Furniture (Hangzhou)Ltd seems to have a respectable ROE. On comparing with the average industry ROE of 10% the company's ROE looks pretty remarkable. This certainly adds some context to Jason Furniture (Hangzhou)Ltd's decent 15% net income growth seen over the past five years.
首先，傑森傢俱（杭州）有限公司似乎擁有可觀的投資回報率。與10％的行業平均投資回報率相比，該公司的投資回報率看起來相當可觀。這無疑爲傑森傢俱（杭州）有限公司在過去五年中實現了15％的可觀淨收入增長增添了一些背景信息。
As a next step, we compared Jason Furniture (Hangzhou)Ltd's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 7.8%.
下一步，我們將傑森傢俱（杭州）有限公司的淨收入增長與行業進行了比較，令人高興的是，我們發現該公司的增長高於7.8％的行業平均增長。
Earnings growth is a huge factor in stock valuation. 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. If you're wondering about Jason Furniture (Hangzhou)Ltd's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
收益增長是股票估值的重要因素。對於投資者來說，重要的是要知道市場是否影響了公司的預期收益增長（或下降）。然後，這可以幫助他們確定股票是面向光明還是黯淡的未來。如果你想知道傑森傢俱（杭州）有限公司的估值，可以看看這個衡量其市盈率與行業比較的指標。
Is Jason Furniture (Hangzhou)Ltd Using Its Retained Earnings Effectively?
傑森傢俱（杭州）有限公司是否在有效使用其留存收益？
The high three-year median payout ratio of 50% (or a retention ratio of 50%) for Jason Furniture (Hangzhou)Ltd suggests that the company's growth wasn't really hampered despite it returning most of its income to its shareholders.
傑森傢俱（杭州）有限公司的三年中位派息率高達50％（或留存率爲50％），這表明儘管將大部分收入返還給了股東，但該公司的增長並沒有受到真正的阻礙。
Besides, Jason Furniture (Hangzhou)Ltd has been paying dividends over a period of six years. This shows that the company is committed to sharing profits with its shareholders. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 48% of its profits over the next three years. Therefore, the company's future ROE is also not expected to change by much with analysts predicting an ROE of 21%.
此外，傑森傢俱（杭州）有限公司在六年內一直在派發股息。這表明該公司致力於與股東分享利潤。在研究了最新的分析師共識數據後，我們發現預計該公司將在未來三年內繼續支付約48％的利潤。因此，預計該公司未來的投資回報率也不會有太大變化，分析師預測投資回報率爲21％。
Conclusion
結論
Overall, we are quite pleased with Jason Furniture (Hangzhou)Ltd's performance. Especially the high ROE, Which has contributed to the impressive growth seen in earnings. Despite the company reinvesting only a small portion of its profits, it still has managed to grow its earnings so that is appreciable. We also studied the latest analyst forecasts and found that the company's earnings growth is expected be similar to its current growth rate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總體而言，我們對傑森傢俱（杭州）有限公司的表現感到非常滿意。尤其是高投資回報率，這爲收益的驚人增長做出了貢獻。儘管該公司僅將利潤的一小部分再投資，但它仍然設法增加了收益，因此這是可觀的。我們還研究了分析師的最新預測，發現該公司的收益增長預計與目前的增長率相似。要詳細了解分析師對公司的最新預測，請查看分析師對公司的預測的可視化。
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論，我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議，也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意，我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之，華爾街沒有持有任何上述股票的頭寸。