Wafer Works (Shanghai) Co., Ltd.'s (SHSE:688584) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum?
Wafer Works (Shanghai) Co., Ltd.'s (SHSE:688584) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum?
Wafer Works (Shanghai) (SHSE:688584) has had a great run on the share market with its stock up by a significant 15% over the last month. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. In this article, we decided to focus on Wafer Works (Shanghai)'s ROE.
Wafer Works(Shanghai)(SHSE:688584)股票在股票市場上的表現非常搶眼,股價在過去一個月內大漲15%。我們想知道公司的財務因素是否對股價變動起到了作用,因爲企業長期基本面通常會決定市場走勢。在本文中,我們決定關注 Wafer Works(Shanghai)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?
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算:
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 Wafer Works (Shanghai) is:
因此,根據上述公式,Wafer Works(Shanghai)的roe是:
4.9% = CN¥206m ÷ CN¥4.2b (Based on the trailing twelve months to March 2024).
4.9%= CN¥206m ÷ CN¥4.2b(截至2024年3月的過去12個月)。
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.05.
“回報”是指過去12個月稅後所賺取的金額。因此,這意味着對於公司每股東投資1元錢,公司能夠創造出0.05元人民幣的利潤。
What Has ROE Got To Do With Earnings Growth?
ROE與盈利增長有什麼關係?
So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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roe是衡量公司盈利能力的一種指標。根據公司選擇重新投資或'保留'多少利潤,我們就能夠評估公司未來生成利潤的能力。假設其他條件相同,那些具有更高股本回報率和更高利潤留存的公司通常比沒有這些特徵的公司有更高的增長率。
Wafer Works (Shanghai)'s Earnings Growth And 4.9% ROE
Wafer Works(Shanghai) 的盈利增長和4.9%的roe
As you can see, Wafer Works (Shanghai)'s ROE looks pretty weak. An industry comparison shows that the company's ROE is not much different from the industry average of 5.8% either. However, the exceptional 20% net income growth seen by Wafer Works (Shanghai) over the past five years is pretty remarkable. Considering the low ROE, it is quite possible that there might also be some other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.
正如您所看到的,Wafer Works(Shanghai)的roe看起來相當弱。與行業平均值5.8%相比,公司的roe也沒有太大差異。然而,在過去五年中,Wafer Works(Shanghai)獨特的20%的淨利潤增長非常卓越。考慮到roe低,公司的盈利增長可能也受到其他一些積極因素的影響。例如,該公司的派息比率較低或者效率極高。
As a next step, we compared Wafer Works (Shanghai)'s net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 20% in the same period.
作爲下一步,我們將Wafer Works( Shanghai)的淨利潤增長與行業進行了比較,並發現公司的增長率與行業平均增長率相近。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240614/0-399097369490260ef10975de3fedc6f9-0-d2ffa4a454140b1f2c11dcebc9444d1c.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. 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 Wafer Works (Shanghai) is trading on a high P/E or a low P/E, relative to its industry.
對於公司的附加價值基礎很大程度上取決於其盈利增長。接下來投資者需要確定的是,預期的盈利增長或其缺乏是否已經反映在股價中。這樣做將有助於他們確定股票的未來前景是看好還是不妙。確定預期盈利增長的一個好的指標是市盈率,它根據公司的盈利前景決定市場願意爲股票支付的價格。因此,您可能需要查看Wafer Works(Shanghai)的市盈率是否與其行業相比處於高位還是低位。
Is Wafer Works (Shanghai) Making Efficient Use Of Its Profits?
Wafer Works(Shanghai)是否有效利用其利潤?
While the company did pay out a portion of its dividend in the past, it currently doesn't pay a regular dividend. This is likely what's driving the high earnings growth number discussed above.
雖然該公司過去支付了一部分股息,但目前並沒有支付常規股息。這可能是上述高盈利增長數字的原因。
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。
In total, it does look like Wafer Works (Shanghai) has some positive aspects to its business. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high earnings growth. So far, we've only made a quick discussion around the company's earnings growth. To gain further insights into Wafer Works (Shanghai)'s past profit growth, check out this visualization of past earnings, revenue and cash flows.
總的來說,Wafer Works(Shanghai)的業務具有一些積極的方面。儘管回報率較低,但公司將其利潤的很大一部分重新投資於其業務中,這無疑有助於其高利潤增長。到目前爲止,我們只是簡單地討論了該公司的盈利增長。要進一步了解Wafer Works(Shanghai)過去的盈利增長,請查看過去盈利、營業收入和現金流的可視化。
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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.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或電郵 editorial-team (at) simplywallst.com。
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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者,也可以發送電子郵件至editorial-team@simplywallst.com