Declining Stock and Solid Fundamentals: Is The Market Wrong About Hefei Snowky Electric Co., Ltd. (SZSE:001387)?
Declining Stock and Solid Fundamentals: Is The Market Wrong About Hefei Snowky Electric Co., Ltd. (SZSE:001387)?
It is hard to get excited after looking at Hefei Snowky Electric's (SZSE:001387) recent performance, when its stock has declined 18% over the past three months. 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. Specifically, we decided to study Hefei Snowky Electric's ROE in this article.
看了合肥雪奇電氣(SZSE:001387)最近的表現,很難感到興奮,當時其股票在過去三個月中下跌了18%。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。具體而言,我們決定在本文中研究合肥雪奇電氣的投資回報率。
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。
How Is ROE Calculated?
ROE 是如何計算的?
Return on equity can be calculated by using the formula:
股本回報率可以使用以下公式計算:
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 Hefei Snowky Electric is:
因此,根據上述公式,合肥雪奇電氣的投資回報率爲:
19% = CN¥129m ÷ CN¥683m (Based on the trailing twelve months to September 2023).
19% = 1.29億元人民幣 ÷ 6.83億元人民幣(基於截至2023年9月的過去十二個月)。
The 'return' is the yearly profit. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.19.
“回報” 是每年的利潤。因此,這意味着該公司每投資1元人民幣,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?
So far, we've learned that ROE is a measure of a company's profitability. 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. 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,投資回報率是衡量公司盈利能力的指標。然後,我們能夠評估公司的收益增長潛力,具體取決於公司對這些利潤進行再投資或 “保留” 了多少及其有效性。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。
Hefei Snowky Electric's Earnings Growth And 19% ROE
合肥雪奇電氣的收益增長和19%的投資回報率
To start with, Hefei Snowky Electric's ROE looks acceptable. Further, the company's ROE compares quite favorably to the industry average of 11%. This certainly adds some context to Hefei Snowky Electric's exceptional 49% net income growth seen over the past five years. However, there could also be other causes behind this growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
首先,合肥雪奇電氣的投資回報率似乎可以接受。此外,該公司的投資回報率與行業平均水平的11%相比相當不錯。這無疑爲合肥雪奇電氣在過去五年中驚人的49%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,公司的管理層可能做出了一些良好的戰略決策,或者公司的派息率很低。
Next, on comparing with the industry net income growth, we found that Hefei Snowky Electric's growth is quite high when compared to the industry average growth of 8.3% 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,與同期行業平均增長8.3%相比,合肥雪奇電氣的增長相當高,令人欣喜。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240415/0-10dfa999d67a9b1fab7909d7c505a1da-0-92113facf3f00ab553cfc9cccb3c826b.png/big)
Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. 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 Hefei Snowky Electric is trading on a high P/E or a low P/E, relative to its industry.
收益增長是股票估值的重要因素。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。通過這樣做,他們將知道股票是走向清澈的藍色海水,還是沼澤的水域在等着你。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,您可能需要檢查合肥雪奇電氣相對於其行業是高市盈率還是低市盈率。
Is Hefei Snowky Electric Efficiently Re-investing Its Profits?
合肥雪奇電氣是否在高效地將利潤再投資?
Hefei Snowky Electric doesn't pay any regular dividends to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
合肥雪奇電氣不定期向股東支付任何股息,這意味着該公司一直在將所有利潤再投資於該業務。這可能是推動上述高收益增長數字的原因。
Summary
摘要
On the whole, we feel that Hefei Snowky Electric's performance has been quite good. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. If the company continues to grow its earnings the way it has, that could have a positive impact on its share price given how earnings per share influence long-term share prices. Not to forget, share price outcomes are also dependent on the potential risks a company may face. So it is important for investors to be aware of the risks involved in the business. You can see the 1 risk we have identified for Hefei Snowky Electric by visiting our risks dashboard for free on our platform here.
總的來說,我們覺得合肥雪奇電氣的表現相當不錯。特別是,我們喜歡該公司對其業務進行大量再投資,而且回報率很高。毫不奇怪,這帶來了令人印象深刻的收益增長。考慮到每股收益如何影響長期股價,如果該公司繼續以現有方式增長收益,這可能會對其股價產生積極影響。別忘了,股價結果還取決於公司可能面臨的潛在風險。因此,投資者必須意識到業務所涉及的風險。您可以訪問我們的 1 種風險來查看我們爲合肥雪奇電氣確定的 1 種風險 風險儀表板 在我們的平台上免費使用。
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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。