Is Anhui Yingjia Distillery Co., Ltd.'s (SHSE:603198) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
Is Anhui Yingjia Distillery Co., Ltd.'s (SHSE:603198) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
Anhui Yingjia Distillery's (SHSE:603198) stock is up by a considerable 33% over the past three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Specifically, we decided to study Anhui Yingjia Distillery's ROE in this article.
安徽迎佳酒廠(上海證券交易所代碼:603198)的股票在過去三個月中大幅上漲了33%。鑑於從長遠來看,市場會獎勵強勁的財務狀況,我們想知道在這種情況下是否如此。具體而言,我們決定在本文中研究安徽迎佳酒廠的投資回報率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
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,它衡量公司相對於股東權益的盈利能力。
How To Calculate Return On Equity?
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 Anhui Yingjia Distillery is:
因此,根據上述公式,安徽迎佳酒廠的投資回報率爲:
27% = CN¥2.5b ÷ CN¥9.3b (Based on the trailing twelve months to March 2024).
27% = 25億元人民幣 ÷ 93億元人民幣(基於截至2024年3月的過去十二個月)。
The 'return' refers to a company's earnings over the last year. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.27 in profit.
“回報” 是指公司去年的收益。對此進行概念化的一種方法是,該公司每擁有1元人民幣的股本即可獲得0.27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?
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. 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。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。
Anhui Yingjia Distillery's Earnings Growth And 27% ROE
安徽迎佳酒廠的收益增長和27%的投資回報率
To begin with, Anhui Yingjia Distillery has a pretty high ROE which is interesting. Additionally, the company's ROE is higher compared to the industry average of 16% which is quite remarkable. As a result, Anhui Yingjia Distillery's exceptional 24% net income growth seen over the past five years, doesn't come as a surprise.
首先,安徽迎佳酒廠的投資回報率相當高,這很有趣。此外,該公司的投資回報率高於行業平均水平的16%,這非常引人注目。因此,安徽迎佳酒廠在過去五年中實現了驚人的24%的淨收入增長,這並不令人意外。
Next, on comparing with the industry net income growth, we found that Anhui Yingjia Distillery's growth is quite high when compared to the industry average growth of 15% 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15%相比,安徽迎佳酒廠的增長相當高,這真是太好了。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240511/0-39db66a46dfa7f7cf7402f042ef985f1-0-e6c56e9a7f2914ccfdc38d9d21efd1af.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. Doing so will help them establish if the stock's future looks promising or ominous. Has the market priced in the future outlook for 603198? You can find out in our latest intrinsic value infographic research report.
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。這樣做將幫助他們確定股票的未來是樂觀還是不祥的。市場對603198的未來展望進行了定價嗎?您可以在我們最新的內在價值信息圖研究報告中找到答案。
Is Anhui Yingjia Distillery Making Efficient Use Of Its Profits?
安徽迎佳酒廠是否在有效利用利潤?
The three-year median payout ratio for Anhui Yingjia Distillery is 46%, which is moderately low. The company is retaining the remaining 54%. By the looks of it, the dividend is well covered and Anhui Yingjia Distillery is reinvesting its profits efficiently as evidenced by its exceptional growth which we discussed above.
安徽迎佳酒廠的三年中位數派息率爲46%,略低。該公司保留了剩餘的54%。從表面上看,股息覆蓋範圍很大,安徽迎佳酒廠正在有效地對其利潤進行再投資,我們上面討論的其非凡增長就證明了這一點。
Moreover, Anhui Yingjia Distillery is determined to keep sharing its profits with shareholders which we infer from its long history of nine years of paying a dividend. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 49%. Accordingly, forecasts suggest that Anhui Yingjia Distillery's future ROE will be 28% which is again, similar to the current ROE.
此外,安徽迎佳酒廠決心繼續與股東分享利潤,這是我們從其九年分紅的悠久歷史中推斷出來的。根據分析師的最新估計,我們發現該公司未來三年的派息率預計將穩定在49%。因此,預測表明,安徽迎佳酒廠未來的投資回報率將爲28%,與目前的投資回報率相似。
Summary
摘要
Overall, we are quite pleased with Anhui Yingjia Distillery'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. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
總的來說,我們對安徽迎佳酒廠的表現非常滿意。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。要了解有關公司未來收益增長預測的更多信息,請查看這份關於分析師預測的免費報告,以了解更多信息。
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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。