Shenzhen SEG Co.,Ltd's (SZSE:000058) Stock Has Seen Strong Momentum: Does That Call For Deeper Study Of Its Financial Prospects?
Shenzhen SEG Co.,Ltd's (SZSE:000058) Stock Has Seen Strong Momentum: Does That Call For Deeper Study Of Its Financial Prospects?
Shenzhen SEGLtd's (SZSE:000058) stock is up by a considerable 6.1% over the past month. 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. In this article, we decided to focus on Shenzhen SEGLtd's ROE.
深圳證券交易所(SZSE000058)的股票在過去一個月中上漲了6.1%。鑑於股票價格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,看看它們在近期的價格走勢中是否有機會發揮作用。在本文中,我們決定重點關注深圳證券交易所的投資回報率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
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,投資回報率顯示了每美元從其股東投資中產生的利潤。
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 Shenzhen SEGLtd is:
因此,根據上述公式,深圳證券交易所的投資回報率爲:
7.2% = CN¥188m ÷ CN¥2.6b (Based on the trailing twelve months to September 2023).
7.2% = 1.88億元人民幣 ÷ 26億元人民幣(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. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.07 in profit.
“回報” 是過去十二個月的稅後收入。這意味着,每持有價值1元人民幣的股權,公司就會產生0.07元人民幣的利潤。
What Is The Relationship Between ROE And Earnings Growth?
投資回報率與收益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. 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. 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.
我們已經確定,投資回報率是衡量公司未來收益的有效盈利指標。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。一般而言,在其他條件相同的情況下,股本回報率和利潤留存率高的公司的增長率要高於不具有這些屬性的公司。
Shenzhen SEGLtd's Earnings Growth And 7.2% ROE
深圳證券交易所的收益增長和7.2%的投資回報率
On the face of it, Shenzhen SEGLtd's ROE is not much to talk about. However, the fact that the company's ROE is higher than the average industry ROE of 5.4%, is definitely interesting. But then again, seeing that Shenzhen SEGLtd's net income shrunk at a rate of 6.6% in the past five years, makes us think again. Bear in mind, the company does have a slightly low ROE. It is just that the industry ROE is lower. Therefore, the decline in earnings could also be the result of this.
從表面上看,深圳證券交易所的投資回報率沒什麼好談的。但是,該公司的投資回報率高於5.4%的行業平均投資回報率,這一事實絕對很有趣。但話又說回來,看到深圳SegLtd的淨收入在過去五年中以6.6%的速度萎縮,讓我們再想一想。請記住,該公司的投資回報率確實略低。只是行業的投資回報率較低。因此,收入的下降也可能是由此造成的。
Furthermore, even when compared to the industry, which has been shrinking its earnings at a rate of 5.2% over the last few years, we found that Shenzhen SEGLtd's performance is pretty disappointing, as it suggests that the company has been shrunk its earnings at a rate faster than the industry.
此外,即使與該行業相比,該行業在過去幾年中一直以5.2%的速度萎縮收益,我們也發現深圳證券交易所的表現相當令人失望,因爲這表明該公司的收益縮減速度快於該行業。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240330/0-afb319933f0271ea0ec81daea671bad5-0-e1824aa65f5931d453027e36952b7ffe.png/big)
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. 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 Shenzhen SEGLtd is trading on a high P/E or a low P/E, relative to its industry.
收益增長是對股票進行估值時要考慮的重要指標。投資者接下來需要確定的是,預期的收益增長或缺乏收益是否已經包含在股價中。然後,這可以幫助他們確定股票是爲光明還是暗淡的未來而佈局。衡量預期收益增長的一個很好的指標是市盈率,它根據收益前景決定了市場願意爲股票支付的價格。因此,您可能需要檢查相對於其行業,深圳證券交易所的市盈率是高還是低。
Is Shenzhen SEGLtd Efficiently Re-investing Its Profits?
深圳證券交易所是否有效地將利潤再投資?
Looking at its three-year median payout ratio of 27% (or a retention ratio of 73%) which is pretty normal, Shenzhen SEGLtd's declining earnings is rather baffling as one would expect to see a fair bit of growth when a company is retaining a good portion of its profits. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
縱觀其三年派息率中位數爲27%(或73%的留存率),這是很正常的,深圳證券交易所收益的下降相當令人困惑,因爲當一家公司保留很大一部分利潤時,人們預計會出現相當大的增長。看來可能還有其他一些原因可以解釋這方面的不足。例如,業務可能會下滑。
In addition, Shenzhen SEGLtd has been paying dividends over a period of eight years suggesting that keeping up dividend payments is preferred by the management even though earnings have been in decline.
此外,深圳證券交易所已經派發了八年的股息,這表明儘管收益有所下降,但管理層仍傾向於繼續支付股息。
Conclusion
結論
On the whole, we do feel that Shenzhen SEGLtd has some positive attributes. Yet, the low earnings growth is a bit concerning, especially given that the company has a respectable rate of return and is reinvesting a huge portion of its profits. By the looks of it, there could be some other factors, not necessarily in control of the business, that's preventing growth. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. To know the 1 risk we have identified for Shenzhen SEGLtd visit our risks dashboard for free.
總的來說,我們確實認爲深圳證券交易所具有一些積極的屬性。但是,低收益增長有點令人擔憂,特別是考慮到該公司的回報率可觀,並且正在將很大一部分利潤再投資。從表面上看,可能還有其他一些因素阻礙了增長,這些因素不一定是業務的控制。雖然我們不會完全解散公司,但我們要做的是努力確定業務的風險,以便在公司周圍做出更明智的決定。要了解我們爲深圳證券交易所確定的1種風險,請免費訪問我們的風險儀表板。
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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。