ZYF Lopsking Aluminum (SZSE:002333) has had a rough three months with its share price down 12%. But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. In this article, we decided to focus on ZYF Lopsking Aluminum's ROE.
ZYF Lopsking Aluminum（深圳證券交易所：002333）經歷了艱難的三個月，其股價下跌了12％。但是，如果你密切關注，你可能會發現其關鍵財務指標看起來相當不錯，考慮到市場通常會獎勵更具彈性的長期基本面，這可能意味着該股有可能在長期內上漲。在這篇文章中，我們決定重點介紹ZYF Lopsking Aluminum的投資回報率。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
ROE或股本回報率是評估公司如何有效地從股東那裏獲得的投資中獲得回報的有用工具。簡而言之，它用於評估公司相對於其股權資本的盈利能力。
How To Calculate Return On Equity?
如何計算股本回報率？
ROE can be calculated by using the formula:
ROE 可以通過以下公式計算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤（來自持續經營業務）÷ 股東權益
So, based on the above formula, the ROE for ZYF Lopsking Aluminum is:
因此，根據上述公式，ZYF Lopsking Aluminum的投資回報率爲：
2.9% = CN¥55m ÷ CN¥1.9b (Based on the trailing twelve months to June 2024).
2.9% = 5500萬元人民幣 ÷ 19元人民幣（基於截至2024年6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¥0.03.
「回報」 是指公司去年的收益。因此，這意味着該公司每投資1元人民幣，就會產生0.03元人民幣的利潤。
What Has ROE Got To Do With Earnings Growth?
投資回報率與收益增長有什麼關係？
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. 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，投資回報率衡量的是公司創造利潤的效率。根據公司選擇將多少利潤進行再投資或 「保留」，我們便能夠評估公司未來創造利潤的能力。假設其他條件都一樣，與功能不相同的公司相比，具有更高股本回報率和更高利潤保留率的公司通常具有更高的增長率。
ZYF Lopsking Aluminum's Earnings Growth And 2.9% ROE
ZYF Lopsking Aluminum 的收益增長和 2.9% 的投資回報率
As you can see, ZYF Lopsking Aluminum's ROE looks pretty weak. Not just that, even compared to the industry average of 7.7%, the company's ROE is entirely unremarkable. In spite of this, ZYF Lopsking Aluminum was able to grow its net income considerably, at a rate of 27% in the last five years. We believe that there might be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.
如你所見，ZYF Lopsking Aluminum的投資回報率看起來相當疲軟。不僅如此，即使與7.7％的行業平均水平相比，該公司的投資回報率也完全不引人注目。儘管如此，ZYF Lopsking Aluminum還是得以大幅增長其淨收入，在過去五年中增長了27％。我們認爲，可能還有其他方面對公司的收益增長產生積極影響。例如，該公司的派息率較低或管理效率很高。
As a next step, we compared ZYF Lopsking Aluminum's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 10%.
下一步，我們將ZYF Lopsking Aluminum的淨收入增長與該行業進行了比較，令人高興的是，我們發現該公司的增長高於10％的行業平均增長。
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. This then helps them determine if the stock is placed for a bright or bleak future. If you're wondering about ZYF Lopsking Aluminum's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
收益增長是對股票進行估值時要考慮的重要指標。投資者接下來需要確定的是，預期的收益增長或缺乏收益是否已經包含在股價中。然後，這可以幫助他們確定股票是爲光明還是暗淡的未來而佈局。如果你想知道ZYF Lopsking Aluminum的估值，可以看看這個衡量其市盈率與行業相比的指標。
Is ZYF Lopsking Aluminum Making Efficient Use Of Its Profits?
ZYF Lopsking 鋁業能否有效利用其利潤？
ZYF Lopsking Aluminum's three-year median payout ratio is a pretty moderate 46%, meaning the company retains 54% of its income. By the looks of it, the dividend is well covered and ZYF Lopsking Aluminum is reinvesting its profits efficiently as evidenced by its exceptional growth which we discussed above.
ZYF Lopsking Aluminum的三年派息率中位數爲46％，這意味着該公司保留了54％的收入。從表面上看，股息覆蓋範圍很廣，ZYF Lopsking Aluminum正在有效地再投資其利潤，我們上面討論的其非凡增長就證明了這一點。
Moreover, ZYF Lopsking Aluminum is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years.
此外，ZYF Lopsking Aluminum決心繼續與股東分享利潤，這是我們從其支付股息至少十年的悠久歷史中推斷出來的。
Summary
摘要
In total, it does look like ZYF Lopsking Aluminum has some positive aspects to its business. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings.
總的來說，ZYF Lopsking Aluminum的業務看起來確實有一些積極的方面。儘管投資回報率很低，但由於再投資率很高，該公司的收益實現了可觀的增長。
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.
對這篇文章有反饋嗎？對內容感到擔憂嗎？請直接聯繫我們。或者，也可以發送電子郵件至編輯團隊 (at) simplywallst.com。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論，我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議，也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意，我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之，華爾街沒有持有任何上述股票的頭寸。