Shandong Nanshan Aluminium Co.,Ltd.'s (SHSE:600219) Stock Has Shown A Decent Performance: Have Financials A Role To Play?
Shandong Nanshan Aluminium Co.,Ltd.'s (SHSE:600219) Stock Has Shown A Decent Performance: Have Financials A Role To Play?
Shandong Nanshan AluminiumLtd's (SHSE:600219) stock is up by 8.6% over the past three months. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to investigate if the company's decent financials had a hand to play in the recent price move. In this article, we decided to focus on Shandong Nanshan AluminiumLtd's ROE.
山東南山鋁業股份有限公司(SHSE:600219)的股票在過去三個月中上漲了8.6%。鑑於股價通常長期與公司的財務表現保持一致,我們決定調查該公司的良好財務狀況是否對最近的股價走勢有幫助。在本文中,我們決定關注山東南山鋁業公司的ROE。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE,即淨資產收益率,測試一家公司有效增加價值和管理股東資金的能力。換句話說,它揭示了公司將股東投資轉化爲利潤的成功程度。
How To Calculate Return On Equity?
如何計算股東權益報酬率?
ROE can be calculated by using the formula:
淨資產收益率可以使用以下公式進行計算:
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 Shandong Nanshan AluminiumLtd is:
因此,根據以上公式,山東南山鋁業的ROE爲:
8.4% = CN¥4.5b ÷ CN¥53b (Based on the trailing twelve months to March 2024).
8.4% = CN ¥45億 ÷ CN ¥530億(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. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.08.
「回報」指的是公司的去年收益。這意味着對於股東的每CN¥1的投資,公司可以獲得CN¥0.08的利潤。
What Is The Relationship Between ROE And Earnings Growth?
ROE與盈利增長之間的關係是什麼?
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 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是公司盈利能力的一種衡量標準。根據公司選擇重新投資或「留存」的利潤比例,我們能夠評估公司未來產生利潤的能力。其他條件不變的情況下,roe和盈利留存越高,相較於不具備這些特徵的公司,企業的增長率越高。
Shandong Nanshan AluminiumLtd's Earnings Growth And 8.4% ROE
山東南山鋁業有限公司的盈利增長和8.4% ROE
When you first look at it, Shandong Nanshan AluminiumLtd's ROE doesn't look that attractive. However, given that the company's ROE is similar to the average industry ROE of 7.4%, we may spare it some thought. Having said that, Shandong Nanshan AluminiumLtd has shown a modest net income growth of 20% over the past five years. Considering the moderately low ROE, it is quite possible that there might be some other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.
當你第一次看到它時,山東南山鋁業有限公司的ROE看起來不那麼吸引人。然而,考慮到公司的ROE與7.4%的行業平均ROE相似,我們可以考慮一下。話雖如此,山東南山鋁業有限公司在過去五年中表現出適度的淨收入增長20%。考慮到相對較低的ROE,很可能存在其他一些積極影響公司盈利增長的因素,例如高利潤保留或採用有效的管理方式。
We then compared Shandong Nanshan AluminiumLtd's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 11% in the same 5-year period.
然後我們將山東南山鋁業有限公司的淨收入增長與行業進行了比較,我們很高興地看到,該公司的增長數字與同一5年期間增長率爲11%的行業相比較高。
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Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Shandong Nanshan AluminiumLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
估值是考慮估值股票時需要考慮的重要指標。接下來,投資者需要確定的是預期的盈利增長,或缺乏預期是否已經融入股價。通過這樣做,他們將了解股票是否進入了清澈的水域,或者沼澤水域是否等待。與其他公司相比,山東南山鋁業有限公司的估值是否公平?這些3個估值指標可能會幫助您決定。
Is Shandong Nanshan AluminiumLtd Making Efficient Use Of Its Profits?
山東南山鋁業是否充分利用其利潤?
Shandong Nanshan AluminiumLtd has a low three-year median payout ratio of 20%, meaning that the company retains the remaining 80% of its profits. This suggests that the management is reinvesting most of the profits to grow the business.
山東南山鋁業的三年中位數股息支付率低,爲20%,這意味着公司保留了其餘80%的利潤。這表明管理層正在重新投資大部分利潤以擴大業務。
Besides, Shandong Nanshan AluminiumLtd has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Our latest analyst data shows that the future payout ratio of the company is expected to rise to 26% over the next three years. Despite the higher expected payout ratio, the company's ROE is not expected to change by much.
此外,山東南山鋁業已連續十年或更長時間支付股息。這表明公司致力於與股東分享利潤。我們最新的分析師數據顯示,公司未來三年的支付比率有望升至26%。儘管預計支付比率較高,但公司ROE不會有太大變化。
Conclusion
結論
On the whole, we do feel that Shandong Nanshan AluminiumLtd has some positive attributes. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總的來說,我們確實認爲山東南山鋁業有限公司具有一些積極因素。儘管回報率較低,但該公司通過大量投資於業務中取得了卓越的盈利增長。話雖如此,最新的行業分析師預測顯示該公司的盈利增長預計將放緩。要了解有關該公司的最新分析師預測的更多信息,請查看該公司分析師預測的可視化。
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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。