Tongfu Microelectronics Co.,Ltd's (SZSE:002156) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Tongfu Microelectronics Co.,Ltd's (SZSE:002156) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
It is hard to get excited after looking at Tongfu MicroelectronicsLtd's (SZSE:002156) recent performance, when its stock has declined 4.3% over the past week. However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. Particularly, we will be paying attention to Tongfu MicroelectronicsLtd's ROE today.
看完同福微電子(SZSE:002156)最近的表現,股價過去一週下跌了4.3%, 似乎沒什麼令人興奮的。然而,公司的基本面看起來相當不錯,長期的財務狀況通常與未來的市場價格變動保持一致。 今天,我們將會關注同福微電子的roe。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE(淨資產收益率)是股東需考慮的一個重要因素,因爲它告訴他們資本被有效地再投資的效果如何。換句話說,它揭示了公司將股東的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?
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 Tongfu MicroelectronicsLtd is:
因此,根據上述公式,同福微電子的roe爲:
2.2% = CN¥321m ÷ CN¥15b (Based on the trailing twelve months to March 2024).
2.2% = CN¥32100萬 ÷ CN¥150億(基於截至2024年3月的過去12個月)。
The 'return' is the profit over the last twelve months. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.02 in profit.
“回報率”是過去十二個月的利潤。 另一種思考方法是每CN¥1的股本,公司能夠賺取CN¥0.02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?
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 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.
我們已經確定ROE作爲評估公司未來收益的有效指標。現在我們需要評估公司爲未來增長所保留的利潤量,從而給我們一個關於公司增長潛力的想法。假設其他條件都相同,既具有較高ROE又具有較高利潤保留的公司通常是增長率更高的公司,相比之下沒有這些特點的公司會更低。
Tongfu MicroelectronicsLtd's Earnings Growth And 2.2% ROE
同福微電子的盈利增長和2.2%的roe
It is hard to argue that Tongfu MicroelectronicsLtd's ROE is much good in and of itself. Even compared to the average industry ROE of 5.8%, the company's ROE is quite dismal. Although, we can see that Tongfu MicroelectronicsLtd saw a modest net income growth of 16% over the past five years. We believe that there might be other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.
同福微電子的roe本身並不好,甚至與行業平均roe 5.8%相比也不容樂觀。儘管如此,我們可以看到同福微電子在過去五年中淨利潤增長16%。我們相信,可能有其他方面正面影響了公司的盈利增長,例如高額的盈利保留或有效的管理措施。
As a next step, we compared Tongfu MicroelectronicsLtd'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,我們將同福微電子的淨利潤增長與行業進行了比較,並發現在同一時期內,公司與行業平均增長率20%有着相似的增長數據。
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Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. 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 Tongfu MicroelectronicsLtd is trading on a high P/E or a low P/E, relative to its industry.
盈利增長是衡量股票價值的重要指標。投資者應該嘗試確定預期的盈利增長或下降是否已經反映在股票價格中。這樣做將有助於幫助他們確定股票的未來前景是光明還是黯淡。預期盈利增長的一個很好的指標是市盈率,它根據公司的盈利前景確定市場願意爲股票支付的價格。因此,您可能需要檢查同福微電子的市盈率是否高於或低於其行業水平。
Is Tongfu MicroelectronicsLtd Making Efficient Use Of Its Profits?
同福微電子是否有效利用了其利潤?
Tongfu MicroelectronicsLtd has a low three-year median payout ratio of 6.3%, meaning that the company retains the remaining 94% of its profits. This suggests that the management is reinvesting most of the profits to grow the business.
同福微電子三年的中值股息支付率較低,僅爲6.3%,這意味着公司保留了其94%的利潤。這表明管理層大部分利潤都再投資於公司的業務增長。
Additionally, Tongfu MicroelectronicsLtd 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.
此外,同福微電子已經連續十年派發股息,這意味着公司非常積極地與股東分享其利潤。
Conclusion
結論
In total, it does look like Tongfu MicroelectronicsLtd has some positive aspects to its business. 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 are expected to accelerate. 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.
總體而言,同福微電子的業務具有一些積極因素。即使回報率較低,但公司由於大量重新投資於其業務,實現了令人印象深刻的盈利增長。話雖如此,最新的行業分析師預測表明,公司的盈利預計將加速增長。要了解有關公司未來盈利增長預測的更多信息,請查看有關公司分析師預測方面的免費報告。
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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。