KINGSEMI Co., Ltd.'s (SHSE:688037) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
KINGSEMI Co., Ltd.'s (SHSE:688037) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
KINGSEMI (SHSE:688037) has had a rough week with its share price down 6.7%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. Particularly, we will be paying attention to KINGSEMI's ROE today.
近期KINGSEMI (SHSE:688037)的股價下跌了6.7%。但是如果您仔細觀察,可能會發現其強大的財務狀況意味着該股票在長期內有望增值,因爲市場通常會獎勵具有良好財務健康的公司。特別是今天我們將關注KINGSEMI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 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 KINGSEMI is:
所以,根據以上公式,KINGSEMI的ROE爲:
8.2% = CN¥200m ÷ CN¥2.4b (Based on the trailing twelve months to March 2024).
8.2% = CN¥ 20000萬 ÷ CN¥ 24億(基於截至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¥0.08 in profit.
'回報'是上一年度稅後收入。從一個角度來看,對於每一元股東的資本,公司賺取了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. 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. 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.
到目前爲止,我們已經知道roe衡量公司生成利潤的效率。根據公司選擇再投資或「保留」的利潤的多少,我們能夠評估公司未來生成利潤的能力。一般而言,在其他條件相等的情況下,roe和盈利保留較高的公司,比沒有這些屬性的公司增長率更高。
KINGSEMI's Earnings Growth And 8.2% ROE
KINGSEMI的盈利增長和8.2%的ROE
On the face of it, KINGSEMI's ROE is not much to talk about. Although a closer study shows that the company's ROE is higher than the industry average of 5.8% which we definitely can't overlook. Particularly, the substantial 47% net income growth seen by KINGSEMI over the past five years is impressive . That being said, the company does have a slightly low ROE to begin with, just that it is higher than the industry average. So, there might well be other reasons for the earnings to grow. For example, it is possible that the broader industry is going through a high growth phase, or that the company has a low payout ratio.
初看之下,KINGSEMI的ROE似乎不值一提。但仔細研究後,我們發現公司的ROE高於行業平均水平5.8%,這絕對是不容忽視的。特別是KINGSEMI在過去五年中實現了47%的淨利潤增長,這是非常令人印象深刻的。話雖如此,該公司的ROE略低於行業平均水平,只是比行業平均水平高一些而已。因此,盈利增長的原因可能還有其他因素。例如,行業板塊正在經歷高增長階段,或者該公司採用的支付比率較低。
We then compared KINGSEMI'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 19% in the same 5-year period.
接下來我們將KINGSEMI的淨利潤增長與行業平均水平進行了比較,我們很高興地發現,該公司的增長率比同一5年期內增長率爲19%的行業高。
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The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. Is KINGSEMI fairly valued compared to other companies? These 3 valuation measures might help you decide.
公司價值的評估在很大程度上與其盈利增長有關。投資者需要判斷下一個步驟是:預期的盈利增長或其缺乏是否已反映在股價中。這有助於他們判斷股票的前景是光明還是暗淡。KINGSEMI相對於其他公司是公平定價的嗎?這3個估值指標可能會幫助您決定。
Is KINGSEMI Efficiently Re-investing Its Profits?
KINGSEMI是否在有效地重新投資其利潤?
KINGSEMI's three-year median payout ratio to shareholders is 18%, which is quite low. This implies that the company is retaining 82% of its profits. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.
KINGSEMI向股東的三年中位數支付比率爲18%,這相當低。這意味着該公司保留了82%的利潤。這表明管理層正在通過公司的增長證明大部分利潤是再投資到業務中的。
Moreover, KINGSEMI is determined to keep sharing its profits with shareholders which we infer from its long history of four years of paying a dividend.
此外,從公司長達四年的派息歷史記錄來看,KINGSEMI致力於與股東分享其利潤。
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。
Overall, we are quite pleased with KINGSEMI's performance. Specifically, we like that it has been reinvesting a high portion of its profits at a moderate rate of return, resulting in earnings expansion. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總體而言,我們對KINGSEMI的表現非常滿意。特別是我們喜歡它以適度的回報率高比例重新投資大部分利潤,從而實現收益增長。最新的行業分析師預測顯示,該公司預計將保持其目前的增長率。要了解有關該公司最新分析師預測的更多信息,請查看此分析師預測可視化。
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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。