Will Weakness in YAPP Automotive Systems Co., Ltd.'s (SHSE:603013) Stock Prove Temporary Given Strong Fundamentals?
Will Weakness in YAPP Automotive Systems Co., Ltd.'s (SHSE:603013) Stock Prove Temporary Given Strong Fundamentals?
YAPP Automotive Systems (SHSE:603013) has had a rough month 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. In this article, we decided to focus on YAPP Automotive Systems' ROE.
亞普汽車系統(上海證券交易所代碼:603013)經歷了艱難的一個月,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可能會增加。在本文中,我們決定重點關注YAPP汽車系統的投資回報率。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
投資回報率或股本回報率是評估公司如何有效地從股東那裏獲得投資回報的有用工具。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 Is ROE Calculated?
ROE 是如何計算的?
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 YAPP Automotive Systems is:
因此,根據上述公式,YAPP汽車系統的投資回報率爲:
12% = CN¥504m ÷ CN¥4.2b (Based on the trailing twelve months to December 2023).
12% = 5.04億元人民幣 ÷ 42億元人民幣(基於截至2023年12月的過去十二個月)。
The 'return' is the profit over the last twelve months. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.12 in profit.
“回報” 是過去十二個月的利潤。另一種看法是,每持有價值1元人民幣的股權,公司就能獲得0.12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 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。
YAPP Automotive Systems' Earnings Growth And 12% ROE
YAPP 汽車系統的收益增長和 12% 的投資回報率
To start with, YAPP Automotive Systems' ROE looks acceptable. On comparing with the average industry ROE of 7.7% the company's ROE looks pretty remarkable. This probably laid the ground for YAPP Automotive Systems' moderate 6.8% net income growth seen over the past five years.
首先,YAPP汽車系統的投資回報率似乎可以接受。與7.7%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。這可能爲亞普汽車系統在過去五年中實現6.8%的溫和淨收入增長奠定了基礎。
We then performed a comparison between YAPP Automotive Systems' net income growth with the industry, which revealed that the company's growth is similar to the average industry growth of 6.4% in the same 5-year period.
然後,我們對YAPP Automotive Systems的淨收入增長與該行業的淨收入增長進行了比較,結果顯示該公司的增長與5年同期6.4%的行業平均增長率相似。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240424/0-1f8d56fe6b63008b2382d008a1f34a4c-0-2826496ddf2b8056b14625d21d747ca6.png/big)
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. 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 YAPP Automotive Systems is trading on a high P/E or a low P/E, relative to its industry.
爲公司附加價值的基礎在很大程度上與其收益增長息息相關。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。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YAPP Automotive Systems相對於其行業是高市盈率還是低市盈率。
Is YAPP Automotive Systems Using Its Retained Earnings Effectively?
YAPP 汽車系統能否有效使用其留存收益?
The high three-year median payout ratio of 64% (or a retention ratio of 36%) for YAPP Automotive Systems suggests that the company's growth wasn't really hampered despite it returning most of its income to its shareholders.
YAPP Automotive Systems的三年中位派息率高達64%(或36%的留存率),這表明儘管該公司將大部分收入返還給了股東,但其增長並沒有真正受到阻礙。
Besides, YAPP Automotive Systems has been paying dividends over a period of five years. This shows that the company is committed to sharing profits with its shareholders.
此外,YAPP汽車系統已在五年內派發了股息。這表明該公司致力於與股東分享利潤。
Conclusion
結論
In total, we are pretty happy with YAPP Automotive Systems' performance. In particular, its high ROE is quite noteworthy and also the probable explanation behind its considerable earnings growth. Yet, the company is retaining a small portion of its profits. Which means that the company has been able to grow its earnings in spite of it, so that's not too bad. Up till now, we've only made a short study of the company's growth data. You can do your own research on YAPP Automotive Systems and see how it has performed in the past by looking at this FREE detailed graph of past earnings, revenue and cash flows.
總的來說,我們對YAPP汽車系統的表現非常滿意。特別是,其高投資回報率非常值得注意,也是其可觀收益增長背後的可能解釋。但是,該公司保留了其利潤的一小部分。這意味着儘管如此,該公司還是能夠增加收益,所以這還不錯。到目前爲止,我們只對公司的增長數據進行了簡短的研究。您可以對YAPP Automotive Systems進行自己的研究,通過查看這張免費的過去收益、收入和現金流的詳細圖表,了解其過去的表現。
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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。