Sichuan Development Lomon Co.,Ltd. (SZSE:002312) On An Uptrend: Could Fundamentals Be Driving The Stock?
Sichuan Development Lomon Co.,Ltd. (SZSE:002312) On An Uptrend: Could Fundamentals Be Driving The Stock?
Most readers would already know that Sichuan Development LomonLtd's (SZSE:002312) stock increased by 9.5% over the past three months. 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. Particularly, we will be paying attention to Sichuan Development LomonLtd's ROE today.
大多數讀者可能已經知道,四川開發洛曼股份有限公司(SZSE:002312)的股票在過去三個月裏上漲了9.5%。我們想知道公司的財務狀況在價格變動中所起的作用,因爲一個公司的長期基本面通常可以決定市場的結果。特別是,今天我們將關注四川開發洛曼的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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股東權益回報率(roe)是一種關鍵指標,用於評估公司管理層如何有效利用公司資本。更簡單地說,它衡量了公司相對股東權益的盈利能力。
How Do You Calculate Return On Equity?
怎樣計算ROE?
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 Sichuan Development LomonLtd is:
所以,根據以上公式,四川開發洛曼的roe是:
4.0% = CN¥370m ÷ CN¥9.2b (Based on the trailing twelve months to March 2024).
4.0% = CN¥37000萬 ÷ CN¥92億(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¥0.04 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。
Why Is ROE Important For Earnings Growth?
ROE爲什麼對淨利潤增長很重要?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
我們已經確定,roe可以作爲一種有效的衡量公司未來盈利能力的指標。現在我們需要評估公司再投資或「保留」的利潤有多少,這就給我們提供了有關公司增長潛力的想法。假設其他一切不變,roe和利潤保留率越高,公司的增長率就越高,而不一定具備這些特徵的公司相比。
Sichuan Development LomonLtd's Earnings Growth And 4.0% ROE
四川開發洛曼的收益增長和4.0%的roe
It is hard to argue that Sichuan Development LomonLtd's ROE is much good in and of itself. Even when compared to the industry average of 6.4%, the ROE figure is pretty disappointing. Despite this, surprisingly, Sichuan Development LomonLtd saw an exceptional 25% net income growth over the past five years. 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.
很難說四川開發洛曼的roe本身很好。即使與行業平均水平6.4%進行比較,roe的數字也相當令人失望。儘管如此,令人驚訝的是,四川開發洛曼在過去五年中的淨收入增長率達到了異常的25%。我們認爲這裏可能有其他因素在起作用。例如,公司的派息比率很低或者經營得很高效。
As a next step, we compared Sichuan Development LomonLtd's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 7.8%.
作爲下一步,我們將四川開發洛曼的淨收入增長與該行業進行了比較,令人欣慰的是,我們發現該公司的增長率高於行業平均增長率7.8%。
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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. Is Sichuan Development LomonLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
賦予公司價值的基礎在很大程度上與公司的盈利增長相關。投資者應該嘗試確定預期的盈利增長或下降是否已經定價。這樣,他們就會知道股票是走向清澈的藍水區還是等待荒澤。四川開發洛曼是否與其他公司相比具有公正的價值?這3項估值措施可能會幫助您決定。
Is Sichuan Development LomonLtd Efficiently Re-investing Its Profits?
四川開發洛曼有沒有有效地再投資利潤?
The three-year median payout ratio for Sichuan Development LomonLtd is 45%, which is moderately low. The company is retaining the remaining 55%. By the looks of it, the dividend is well covered and Sichuan Development LomonLtd is reinvesting its profits efficiently as evidenced by its exceptional growth which we discussed above.
四川開發洛曼的三年中位數派息比率爲45%,屬於中等偏低水平。公司保留了剩餘的55%。看起來,股息分配得很好,並且四川開發洛曼正在有效地再投資利潤,正如我們以上所討論的那樣。
Additionally, Sichuan Development LomonLtd 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.
另外,四川開發洛曼已經連續至少十年派發股息,這意味着該公司非常認真地與股東分享利潤。
Conclusion
結論
In total, it does look like Sichuan Development LomonLtd has some positive aspects to its business. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. We also studied the latest analyst forecasts and found that the company's earnings growth is expected be similar to 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.
總體而言,四川開發洛曼的業務具有一些積極因素。儘管roe較低,但公司的再投資率高,因此淨收益增長很大。我們還研究了最新的分析師預測,發現公司的盈利增長預計與當前增長率接近。這些分析師預測是基於對整個行業的廣泛預期還是基於公司的基本面?單擊此處轉到公司的分析師預測頁面。
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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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@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
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。