JSTI Group (SZSE:300284) Stock Is Going Strong But Fundamentals Look Uncertain: What Lies Ahead ?
JSTI Group (SZSE:300284) Stock Is Going Strong But Fundamentals Look Uncertain: What Lies Ahead ?
Most readers would already be aware that JSTI Group's (SZSE:300284) stock increased significantly by 57% over the past three months. But the company's key financial indicators appear to be differing across the board and that makes us question whether or not the company's current share price momentum can be maintained. Particularly, we will be paying attention to JSTI Group's ROE today.
大多數讀者已經意識到蘇交科集團(SZSE:300284)的股票在過去三個月內顯著增長了57%。但是公司的關鍵財務指標似乎在各方面存在差異,這讓我們質疑公司目前的股價動能是否能夠保持。值得關注的是,我們今天將關注蘇交科集團的roe。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回報率或roe是一項關鍵指標,用於評估公司管理層使用公司資本的效率。換句話說,它揭示了公司將股東的投資轉化爲利潤的成功。
How Do You Calculate Return On Equity?
怎樣計算ROE?
The formula for ROE is:
roe的公式是:
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 JSTI Group is:
因此,根據上述公式,蘇交科集團的ROE爲:
3.6% = CN¥313m ÷ CN¥8.8b (Based on the trailing twelve months to March 2024).
3.6%=CN¥31300萬 ÷ CN¥88億 (根據過去十二個月截至2024年3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¥0.04 in profit.
‘回報’指的是上一年度稅後的收益。通過將公司的淨收益除以每股股東權益,得出了每1元股東資本的利潤爲0.04元人民幣。
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。
So far, we've learned that ROE is a measure of a company's profitability. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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roe是公司利潤能力的一個衡量標準,現在我們需要評估公司再投資或“保留”的利潤,以此來了解公司的增長潛力。假設其他所有因素保持不變,roe和利潤保留率越高,公司的增長速度就越高,相對於不一定具備這些特徵的公司而言。
JSTI Group's Earnings Growth And 3.6% ROE
蘇交科集團的盈利增長和3.6%的ROE
As you can see, JSTI Group's ROE looks pretty weak. Not just that, even compared to the industry average of 7.3%, the company's ROE is entirely unremarkable. For this reason, JSTI Group's five year net income decline of 7.9% is not surprising given its lower ROE. However, there could also be other factors causing the earnings to decline. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.
正如您可以看到的,蘇交科集團的ROE看起來相當弱。不僅如此,即使與行業平均水平的7.3%相比,公司的ROE也是完全不顯著的。因此,鑑於其較低的ROE,蘇交科集團的五年淨利潤下降7.9%並不令人意外。然而,造成收益下降的原因還可能有其他因素。例如,該業務配置了資本不善,或者公司的紅利派發比率非常高。
That being said, we compared JSTI Group's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 7.8% in the same 5-year period.
話雖如此,我們將蘇交科集團的業績與行業進行比較,當我們發現在同一5年期內,儘管公司縮減了其收益,但行業的收益增長率卻達到了7.8%時,我們感到擔憂。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240626/0-42c068d1f1fe5b82e2a48fd21dd5c5bb-0-db41de74d34c3321d9ae8fa7b550c71a.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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. If you're wondering about JSTI Group's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
爲一家公司附加價值的基礎,在很大程度上與其盈利增長相關。投資者應該嘗試確定預期的盈利增長或下降,以便確定它是否定價。這樣,他們就會知道股票是走向晴朗的藍色水域,還是在等待泥濘的水域。如果您想了解蘇交科集團的估值,請查看其市盈率與同行業的比較。
Is JSTI Group Using Its Retained Earnings Effectively?
蘇交科集團是否有效利用其未分配利潤?
Despite having a normal three-year median payout ratio of 29% (where it is retaining 71% of its profits), JSTI Group has seen a decline in earnings as we saw above. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
儘管蘇交科集團的三年平均股息比率爲29%(它將其利潤保留了71%),但正如我們上面所看到的那樣,它的盈利下降了。看起來可能有其他原因來解釋這一點。例如,業務可能正在下降。
Additionally, JSTI Group has paid dividends over a period of at least ten years, which means that the company's management is determined to pay dividends even if it means little to no earnings growth.
此外,蘇交科集團已經連續十年支付股息,這意味着即使幾乎沒有盈利增長,公司管理層也決心支付股息。
Conclusion
結論
On the whole, we feel that the performance shown by JSTI Group can be open to many interpretations. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. With that said, we studied the latest analyst forecasts and found that while the company has shrunk its earnings in the past, analysts expect its earnings to grow in the future. 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,我們認爲蘇交科集團的表現可以被解讀爲很多種。雖然該公司的利潤保留率很高,但其低收益率很可能阻礙了其盈利增長。話雖如此,我們研究了最新的分析師預測,並發現,儘管公司過去曾縮減其收益,但分析師預計其將來的收益將增長。要了解更多關於該公司未來收益增長預測的信息,請查看該公司分析師預測的免費報告。
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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
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