Will Weakness in Guoguang Electric Company Limited's (SZSE:002045) Stock Prove Temporary Given Strong Fundamentals?
Will Weakness in Guoguang Electric Company Limited's (SZSE:002045) Stock Prove Temporary Given Strong Fundamentals?
It is hard to get excited after looking at Guoguang Electric's (SZSE:002045) recent performance, when its stock has declined 9.3% over the past month. 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 Guoguang Electric's ROE today.
看了國光電氣(SZSE:002045)最近的表現,很難感到興奮,當時其股票在過去一個月中下跌了9.3%。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可能會增加。特別是,我們今天將關注國光電氣的投資回報率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回報率或投資回報率是對公司增值和管理投資者資金的有效性的考驗。簡而言之,它用於評估公司相對於其股權資本的盈利能力。
See our latest analysis for Guoguang Electric
查看我們對國光電氣的最新分析
How To Calculate Return On Equity?
如何計算股本回報率?
ROE can be calculated by using the formula:
ROE 可以通過以下公式計算:
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 Guoguang Electric is:
因此,根據上述公式,國光電氣的投資回報率爲:
13% = CN¥321m ÷ CN¥2.4b (Based on the trailing twelve months to September 2023).
13% = 3.21億元人民幣 ÷ 24億元人民幣(基於截至2023年9月的過去十二個月)。
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.13.
“回報” 是過去十二個月的稅後收入。因此,這意味着公司每投資1元人民幣,公司就會產生0.13元人民幣的利潤。
Why Is ROE Important For Earnings Growth?
爲什麼投資回報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. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
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。根據公司選擇將多少利潤進行再投資或 “保留”,我們便能夠評估公司未來創造利潤的能力。假設其他條件都一樣,與功能不相同的公司相比,具有更高股本回報率和更高利潤保留率的公司通常具有更高的增長率。
Guoguang Electric's Earnings Growth And 13% ROE
國光電氣的收益增長和13%的投資回報率
At first glance, Guoguang Electric seems to have a decent ROE. On comparing with the average industry ROE of 11% the company's ROE looks pretty remarkable. This certainly adds some context to Guoguang Electric's exceptional 23% net income growth seen over the past five years. However, there could also be other causes behind this growth. For instance, the company has a low payout ratio or is being managed efficiently.
乍一看,國光電氣的投資回報率似乎不錯。與11%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。這無疑爲國光電氣在過去五年中驚人的23%淨收入增長增添了一些背景信息。但是,這種增長背後可能還有其他原因。例如,該公司的派息率較低或管理效率很高。
Next, on comparing with the industry net income growth, we found that Guoguang Electric's growth is quite high when compared to the industry average growth of 8.1% in the same period, which is great to see.
接下來,與行業淨收入增長相比,我們發現國光電氣的增長與同期8.1%的行業平均增長率相比相當高,這令人欣喜。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240119/0-70ef75b04f45be45dd5772fa07577f93-0-eaa14f7d7df435d2e29bfdee1d96ff69.png/big)
Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Is Guoguang Electric fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增長是對股票進行估值時要考慮的重要指標。無論如何,投資者應設法確定預期的收益增長或下降是否已計入其中。然後,這可以幫助他們確定股票是面向光明還是暗淡的未來。與其他公司相比,國光電氣的估值是否合理?這3種估值指標可能會幫助您做出決定。
Is Guoguang Electric Using Its Retained Earnings Effectively?
國光電氣是否在有效使用其留存收益?
While the company did pay out a portion of its dividend in the past, it currently doesn't pay a dividend. This is likely what's driving the high earnings growth number discussed above.
儘管該公司過去確實支付了部分股息,但目前不支付股息。這可能是推動上述高收益增長數字的原因。
Conclusion
結論
In total, we are pretty happy with Guoguang Electric's performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
總的來說,我們對國光電氣的表現非常滿意。特別是,很高興看到該公司正在對其業務進行大量投資,再加上高回報率,這爲其收益帶來了可觀的增長。既然如此,對分析師最新預測的研究表明,預計該公司未來的收益增長將放緩。這些分析師的預期是基於對該行業的廣泛預期,還是基於公司的基本面?點擊此處進入我們分析師對公司的預測頁面。
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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。