Yechiu Metal Recycling (China) Ltd.'s (SHSE:601388) Stock Is Going Strong: Have Financials A Role To Play?
Yechiu Metal Recycling (China) Ltd.'s (SHSE:601388) Stock Is Going Strong: Have Financials A Role To Play?
Most readers would already be aware that Yechiu Metal Recycling (China)'s (SHSE:601388) stock increased significantly by 26% over the past three months. 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 Yechiu Metal Recycling (China)'s ROE.
大多數讀者已經意識到,葉洲金屬回收(中國)(上海證券交易所代碼:601388)的股票在過去三個月中大幅增長了26%。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,我們決定重點關注葉洲金屬回收(中國)的投資回收率。
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. Put another way, it reveals the company's success at turning shareholder investments into profits.
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。換句話說,它揭示了公司成功地將股東投資轉化爲利潤。
How Do You Calculate Return On Equity?
你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 Yechiu Metal Recycling (China) is:
因此,根據上述公式,Yechiu金屬回收(中國)的投資回收率爲:
2.1% = CN¥88m ÷ CN¥4.2b (Based on the trailing twelve months to March 2024).
2.1% = 8800萬元人民幣 ÷ 42億元人民幣(基於截至2024年3月的過去十二個月)。
The 'return' is the income the business earned over the last year. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.02 in profit.
“回報” 是企業在過去一年中獲得的收入。這意味着,公司每獲得價值1元人民幣的股東權益,就會產生0.02元的利潤。
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?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. 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.
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。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。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。
Yechiu Metal Recycling (China)'s Earnings Growth And 2.1% ROE
Yechiu Metal Recycling(中國)的收益增長和2.1%的投資回報率
It is hard to argue that Yechiu Metal Recycling (China)'s ROE is much good in and of itself. Not just that, even compared to the industry average of 7.7%, the company's ROE is entirely unremarkable. However, the moderate 9.6% net income growth seen by Yechiu Metal Recycling (China) over the past five years is definitely a positive. We reckon that there could be other factors at play here. For instance, the company has a low payout ratio or is being managed efficiently.
很難說葉洲金屬回收(中國)的投資回收率本身就非常好。不僅如此,即使與7.7%的行業平均水平相比,該公司的投資回報率也完全不引人注目。但是,在過去五年中,Yechiu Metal Recycling(中國)9.6%的溫和淨收入增長絕對是積極的。我們認爲這裏可能還有其他因素在起作用。例如,該公司的派息率很低或管理得很高效。
Next, on comparing Yechiu Metal Recycling (China)'s net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 12% over the last few years.
接下來,在將Yechiu Metal Recycling(中國)的淨收入增長與該行業的淨收入增長進行比較時,我們發現該公司報告的增長與過去幾年12%的行業平均增長率相似。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240430/0-cf67b45d90ca0a1c3739fc032f88aa9c-0-b0c8392a148338d97285189c853a8e17.png/big)
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. If you're wondering about Yechiu Metal Recycling (China)'s's valuation, check out this gauge of its price-to-earnings ratio, as compared 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。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。如果你想知道Yechiu Metal Recycling(中國)的估值,可以看看這個衡量其與行業相比的市盈率指標。
Is Yechiu Metal Recycling (China) Efficiently Re-investing Its Profits?
Yechiu 金屬回收(中國)能否有效地進行利潤再投資?
Yechiu Metal Recycling (China)'s three-year median payout ratio to shareholders is 23% (implying that it retains 77% of its income), which is on the lower side, so it seems like the management is reinvesting profits heavily to grow its business.
Yechiu Metal Recycling(中國)的三年股東派息率中位數爲23%(這意味着它保留了77%的收入),處於較低水平,因此管理層似乎正在大量再投資利潤以發展其業務。
Besides, Yechiu Metal Recycling (China) has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders.
此外,Yechiu金屬回收(中國)已經派發了至少十年或更長時間的股息。這表明該公司致力於與股東分享利潤。
Summary
摘要
On the whole, we do feel that Yechiu Metal Recycling (China) has some positive attributes. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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,我們確實認爲Yechiu金屬回收(中國)有一些積極的屬性。儘管投資回報率很低,但由於再投資率很高,該公司的收益實現了可觀的增長。話雖如此,從分析師目前的估計來看,我們發現該公司的收益有望增強。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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
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。