Could The Market Be Wrong About Shenzhen Capchem Technology Co., Ltd. (SZSE:300037) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About Shenzhen Capchem Technology Co., Ltd. (SZSE:300037) Given Its Attractive Financial Prospects?
Shenzhen Capchem Technology (SZSE:300037) has had a rough three months with its share price down 27%. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Particularly, we will be paying attention to Shenzhen Capchem Technology's ROE today.
新宙邦(SZSE:300037)近三個月股價下跌27%。然而,股票價格通常受到公司長期財務表現的推動,在這種情況下,看起來相當有前途。特別是今天我們將關注新宙邦的roe。
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.
ROE或股東權益報酬率是一種有用的工具,用於評估一家公司能否有效地利用來自股東的投資產生回報。換句話說,它揭示了公司將股東的投資變成利潤的成功程度。
How To Calculate Return On Equity?
如何計算股東權益報酬率?
The formula for return on equity is:
權益回報率的計算公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤(從持續經營中獲得)÷ 股東權益
So, based on the above formula, the ROE for Shenzhen Capchem Technology is:
因此,根據上述公式,新宙邦的roe如下:
9.4% = CN¥926m ÷ CN¥9.9b (Based on the trailing twelve months to March 2024).
9.4%= CN¥926m ÷ CN¥9.9b(基於截至2024年3月的過去十二個月)。
The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.09 in profit.
“回報”是稅後收益的金額,在過去的十二個月中獲得。一個概念化這個的方法是對於每個CN ¥1的股東資本,公司獲得了CN ¥0.09的利潤。
What Is The Relationship Between ROE And Earnings Growth?
既然我們已經確定ROE是一種有效的利潤生成標準,用於評估公司未來的盈利能力,我們現在需要評估公司“保留”爲未來增長而重新投資的利潤多少,這使我們對公司的增長潛力有了一個了解。一般而言,在其他條件相等的情況下,ROE和利潤留存高的公司,增長率比沒有這些屬性的公司要高。
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.
因此,我們已經了解到roe是衡量公司利潤率的有效方法。根據公司重新投資或“保留”這些收益的程度以及其有效程度,我們就能評估公司的盈利增長潛力。假設其他條件相同,權益回報率和利潤保留越高的公司通常比沒有相同特點的公司具有更快的增長率。
Shenzhen Capchem Technology's Earnings Growth And 9.4% ROE
新宙邦的盈利增長和9.4%的roe
When you first look at it, Shenzhen Capchem Technology's ROE doesn't look that attractive. Although a closer study shows that the company's ROE is higher than the industry average of 6.3% which we definitely can't overlook. Especially when you consider Shenzhen Capchem Technology's exceptional 28% net income growth over the past five years. That being said, the company does have a slightly low ROE to begin with, just that it is higher than the industry average. Therefore, the growth in earnings could also be the result of other factors. For example, it is possible that the broader industry is going through a high growth phase, or that the company has a low payout ratio.
當你首次看到它時,新宙邦的roe看起來並不那麼有吸引力。儘管更進一步的研究表明,該公司的roe高於6.3%的行業平均水平,這是我們絕對不能忽視的。特別是考慮到新宙邦過去五年的28%淨收入增長,這樣說來,該公司的roe略低,只是高於行業平均水平。因此,收益增長也可能是其他因素的結果。例如,可能整個行業正在經歷高速增長階段,或者該公司具有較低的派息比率。
Next, on comparing with the industry net income growth, we found that Shenzhen Capchem Technology's growth is quite high when compared to the industry average growth of 8.0% in the same period, which is great to see.
接下來,與行業淨收入增長相比較,我們發現新宙邦的增長與同期的行業平均增長8.0%相比相當高,這是不錯的。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240524/0-1a787b6ba24211cffcb3c4673cc8ec7f-0-c87a22a0c3a5a1599bb8b33f64cdcf97.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. Doing so will help them establish if the stock's future looks promising or ominous. 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 Capchem Technology is trading on a high P/E or a low P/E, relative to its industry.
賦予公司價值的基礎在很大程度上與其盈利增長有關。投資者應該嘗試確定預期的盈利增長或下降是否被定價。 doing這將有助於他們確定股票的未來看起來是有前途還是不祥。預期收益增長的一個重要指標是市盈率,它根據公司的盈利前景確定市場願意支付多少價格來購買股票。因此,您可能需要檢查新宙邦的市盈率是否高於或低於其行業。
Is Shenzhen Capchem Technology Using Its Retained Earnings Effectively?
新宙邦是否有效利用其留存收益?
Shenzhen Capchem Technology's three-year median payout ratio to shareholders is 24%, which is quite low. This implies that the company is retaining 76% of its profits. So it seems like the management is reinvesting profits heavily to grow its business and this reflects in its earnings growth number.
新宙邦向股東的三年中位數派息比率爲24%,相當低。這意味着該公司保留了其76%的利潤。因此,管理層似乎正在大量重投利潤以增長其業務,這反映在其盈餘增長數字中。
Additionally, Shenzhen Capchem Technology has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Looking at the current analyst consensus data, we can see that the company's future payout ratio is expected to rise to 38% over the next three years. Still, forecasts suggest that Shenzhen Capchem Technology's future ROE will rise to 17% even though the the company's payout ratio is expected to rise. We presume that there could some other characteristics of the business that could be driving the anticipated growth in the company's ROE.
此外,新宙邦已經連續十年支付股息,這意味着該公司非常重視與股東分享利潤。從當前的分析師共識數據來看,我們可以看到該公司未來的派息比率預計將在未來三年內上升到38%。儘管如此,預測表明,即使該公司的派息比率預計上升,新宙邦未來的roe也將上升至17%。我們推測,公司的其他特點可能推動了公司roe的預期增長。
Summary
總的來說,我們對偉明環保的表現非常滿意。具體而言,我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然,這導致公司的收益大幅增長。但是,最新的行業分析師預測表明,該公司的收益預計將加速增長。
Overall, we are quite pleased with Shenzhen Capchem Technology's performance. Particularly, we like that the company is reinvesting heavily into its business at a moderate rate of return. Unsurprisingly, this has led to an impressive earnings growth. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. 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,我們對新宙邦的業績感到相當滿意。特別是,我們喜歡公司以適度的回報率大量重投其業務。毫不奇怪,這導致了令人印象深刻的盈利增長。最新的行業分析師預測表明,該公司預計將保持當前的增長率。這些分析師的預期基於行業的廣泛預期還是公司的基本面?單擊此處轉到我們的分析師預測頁面。
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。