Hunan Valin Wire & Cable Co.,Ltd.'s (SZSE:001208) Stock Is Rallying But Financials Look Ambiguous: Will The Momentum Continue?
Hunan Valin Wire & Cable Co.,Ltd.'s (SZSE:001208) Stock Is Rallying But Financials Look Ambiguous: Will The Momentum Continue?
Hunan Valin Wire & CableLtd (SZSE:001208) has had a great run on the share market with its stock up by a significant 20% over the last week. However, we wonder if the company's inconsistent financials would have any adverse impact on the current share price momentum. Particularly, we will be paying attention to Hunan Valin Wire & CableLtd's ROE today.
湖南華銀電線電纜有限公司(SZSE:001208)股票在上週表現良好,股價上漲了顯著的20%。然而,我們想知道公司不一致的財務狀況是否會對當前股價動能產生不利影響。特別是我們將會關注湖南華銀電線電纜有限公司的roe今天。
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 Is ROE Calculated?
淨資產收益率怎麼計算?
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 Hunan Valin Wire & CableLtd is:
因此,根據以上的公式,湖南華銀電線電纜有限公司的roe爲:
5.6% = CN¥87m ÷ CN¥1.5b (Based on the trailing twelve months to December 2023).
5.6%= CN¥8700萬 ÷ CN¥15億(基於截至2023年12月的過去12個月)。
The 'return' is the profit over the last twelve months. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.06 in profit.
「回報」是過去12個月的利潤。這意味着,對於每1元股東權益價值,該公司可以創造0.06元的利潤。
What Has ROE Got To Do With Earnings Growth?
roe與盈利增長有何關係?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
我們已經確認ROE是一個有效的判斷公司未來盈利能力的指標。根據公司再投資或「保留」利潤的比例及其效率來判定公司的盈利增長潛力,通常情況下,其他條件相同,具有高股權回報率和利潤保留率的公司增長速度會高於這些屬性缺失的公司。
Hunan Valin Wire & CableLtd's Earnings Growth And 5.6% ROE
湖南華銀電線電纜有限公司的盈利增長和5.6%的roe
When you first look at it, Hunan Valin Wire & CableLtd's ROE doesn't look that attractive. However, its ROE is similar to the industry average of 6.9%, so we won't completely dismiss the company. Having said that, Hunan Valin Wire & CableLtd has shown a meagre net income growth of 3.8% over the past five years. Bear in mind, the company's ROE is not very high . Hence, this does provide some context to low earnings growth seen by the company.
一開始看起來,湖南華銀電線電纜有限公司的roe並不那麼吸引人。然而,它的roe與行業平均值6.9%相似,因此我們不會完全不理會公司。話雖如此,過去五年湖南華銀電線電纜有限公司的淨利潤增長率僅爲3.8%。請記住,公司的roe並不是很高。因此,這爲公司的低盈利增長提供了一些背景。
As a next step, we compared Hunan Valin Wire & CableLtd's net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 12% in the same period.
接下來,我們將湖南華銀電線電纜有限公司的淨利潤增長與行業進行了比較,令人失望的是,該公司的增長低於同一時期行業平均增長率12%。
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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. Doing so will help them establish if the stock's future looks promising or ominous. Is Hunan Valin Wire & CableLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增長是估值股票時要考慮的重要指標。接下來投資者需要判斷的是預期的盈利增長或缺乏盈利增長已經反映在股價中。這樣做將有助於他們確定這隻股票的未來看起來是有前途還是不祥。與其他公司相比,湖南華銀電線電纜有限公司的估值是否公允?這3種估值措施可能會幫助您做出決定。
Is Hunan Valin Wire & CableLtd Making Efficient Use Of Its Profits?
湖南華銀電線電纜有限公司利用其利潤是否有效?
Despite having a normal three-year median payout ratio of 30% (or a retention ratio of 70% over the past three years, Hunan Valin Wire & CableLtd has seen very little growth in earnings as we saw above. Therefore, there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
儘管湖南華銀電線電纜有限公司的三年中位數股息支付比率爲30%(或者說過去三年中保留率爲70%),但正如我們上面看到的,其盈利增長寥寥無幾。因此,可能有一些其他原因來解釋這一方面的缺陷。例如,公司可能正在衰退。
Moreover, Hunan Valin Wire & CableLtd has been paying dividends for three years, which is a considerable amount of time, suggesting that management must have perceived that the shareholders prefer dividends over earnings growth.
此外,湖南華銀電線電纜有限公司已經支付了三年的股息,這是相當長的時間,這表明管理層必須認爲股東更喜歡股息而不是盈利增長。
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。
On the whole, we feel that the performance shown by Hunan Valin Wire & CableLtd can be open to many interpretations. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. Our risks dashboard would have the 2 risks we have identified for Hunan Valin Wire & CableLtd.
總體而言,我們認爲湖南華銀電線電纜有限公司的表現可以有許多解釋。儘管它似乎保留了大部分利潤,但考慮到roe很低,投資者可能並沒有從所有再投資中受益。低盈利增長表明了我們的理論的正確性。總之,我們會謹慎對待這個公司,一種方法是查看業務的風險剖面。我們的風險面板將列出我們已經爲湖南華銀電線電纜有限公司確定的兩個風險。
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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。