China Machinery Huanyu Certification and Inspection Co., LTD (SZSE:301508) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
China Machinery Huanyu Certification and Inspection Co., LTD (SZSE:301508) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
China Machinery Huanyu Certification and Inspection (SZSE:301508) has had a rough three months with its share price down 22%. However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. In this article, we decided to focus on China Machinery Huanyu Certification and Inspection's ROE.
中國機械環宇認證與檢驗(SZSE:301508)的股價在過去三個月內一路下跌,跌幅達22%。然而,股價通常受到公司長期財務狀況的推動,而本案例中的情況相當令人滿意。本文重點關注中國機械環宇認證與檢驗的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 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 China Machinery Huanyu Certification and Inspection is:
因此,基於上述公式,中國機械環宇認證與檢驗的ROE爲:
7.6% = CN¥152m ÷ CN¥2.0b (Based on the trailing twelve months to March 2024).
7.6% = CN¥15200萬 ÷ CN¥20億(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. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.08.
「回報」是稅後收益的金額,在過去的12個月中賺取。 這意味着對於其股東的每1元投資,該公司可以產生0.08元的利潤。
Why Is ROE Important For Earnings Growth?
ROE爲什麼對淨利潤增長很重要?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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.
到目前爲止,我們已經了解到ROE衡量了公司創造利潤的效率。現在我們需要評估公司爲未來增長「保留」的利潤量,然後我們就能了解公司的增長潛力。如果一切都相等,那麼ROE和利潤保留都更高的公司通常比沒有這些特徵的公司增長率更高。
A Side By Side comparison of China Machinery Huanyu Certification and Inspection's Earnings Growth And 7.6% ROE
中國機械環宇認證與檢驗盈利增長和7.6%的ROE的對比。
At first glance, China Machinery Huanyu Certification and Inspection's ROE doesn't look very promising. Yet, a closer study shows that the company's ROE is similar to the industry average of 6.4%. Even so, China Machinery Huanyu Certification and Inspection has shown a fairly decent growth in its net income which grew at a rate of 17%. Taking into consideration that the ROE is not particularly high, we reckon that there could also be other factors at play which could be influencing the company's growth. For instance, the company has a low payout ratio or is being managed efficiently.
乍一看,中國機械環宇認證與檢驗的ROE似乎並不太可觀。然而,仔細研究後發現,該公司的ROE與行業平均水平相當(爲6.4%)。儘管如此,中國機械環宇認證與檢驗的淨利潤增長的速度相當不錯(以17%的速度增長)。考慮到ROE不是特別高,我們認爲還可能存在其他影響公司增長的因素,如公司具有低的派息比率或在有效經營。
Next, on comparing with the industry net income growth, we found that China Machinery Huanyu Certification and Inspection's growth is quite high when compared to the industry average growth of 0.6% in the same period, which is great to see.
接下來,與行業營收增長相比,我們發現中國機械環宇認證與檢驗的增長率與同期行業平均增長率0.6%相比相當高,這非常值得關注。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240812/0-cd00106059e0f5fb6f96d5b630af3f82-0-fae6a5ae52337ee36541a7ebb548d39d.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 China Machinery Huanyu Certification and Inspection's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
爲一家公司評估價值的基礎,在很大程度上取決於其盈利增長。投資者應當嘗試確定預期的盈利增長或下降,無論是哪種情況,是否已經定價。通過這樣做,他們將了解股票是否被投向清澈的藍色水域,或者是否會等待沼澤般的污水。如果您想了解中國機械環宇認證與檢驗的估值,請查看它的市盈率與所在行業的比較。
Is China Machinery Huanyu Certification and Inspection Efficiently Re-investing Its Profits?
中國機械環宇認證與檢驗是否有效地再投資其利潤?
China Machinery Huanyu Certification and Inspection has a significant three-year median payout ratio of 53%, meaning that it is left with only 47% to reinvest into its business. This implies that the company has been able to achieve decent earnings growth despite returning most of its profits to shareholders.
中國機械環宇認證與檢驗擁有顯著的三年中位數派息比率爲53%,這意味着只有47%的利潤可用於再投資其業務。這表明,儘管將大部分利潤歸還股東,該公司仍能夠實現不錯的盈利增長。
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。
In total, it does look like China Machinery Huanyu Certification and Inspection has some positive aspects to its business. While no doubt its earnings growth is pretty substantial, we do feel that the reinvestment rate is pretty low, meaning, the earnings growth number could have been significantly higher had the company been retaining more of its profits. So far, we've only made a quick discussion around the company's earnings growth. You can do your own research on China Machinery Huanyu Certification and Inspection and see how it has performed in the past by looking at this FREE detailed graph of past earnings, revenue and cash flows.
總的來說,中國機械環宇認證與檢驗的業務有一些積極方面。儘管其盈利增長相當可觀,但我們覺得再投資率相當低,這意味着,如果該公司保留更多的利潤,盈利增長可能會更高。目前,我們只是簡單討論了該公司的盈利增長。您可以自己研究中國機械環宇認證與檢驗,並查看過去的盈利、收入和現金流的免費詳細圖表來了解其過去的表現。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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。