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Kangji Medical Holdings Limited's (HKG:9997) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?

Kangji Medical Holdings Limited's (HKG:9997) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?

康基醫療控股有限公司(HKG:9997)的股票一直在下跌,但基本面看起來很強勁:市場錯了嗎?
Simply Wall St ·  09/09 18:00

It is hard to get excited after looking at Kangji Medical Holdings' (HKG:9997) recent performance, when its stock has declined 9.7% over the past three months. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Particularly, we will be paying attention to Kangji Medical Holdings' ROE today.

看完康基醫療控股(HKG:9997)的最近表現後並不容易讓人興奮,因爲其股票在過去三個月中下跌了9.7%。然而,股票價格通常受到公司的長期財務表現的影響,在這種情況下,看起來相當有前景。特別是,我們今天將關注康基醫療控股的roe。

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

淨資產收益率(ROE)是衡量公司增值和管理投資者資金有效性的測試。換句話說,它是一種盈利能力比率,用於衡量公司股東提供的資金回報率。

How To Calculate Return On Equity?

如何計算股東權益報酬率?

The formula for ROE is:

roe的公式是:

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 Kangji Medical Holdings is:

所以,根據以上公式,康基醫療控股的roe是:

21% = CN¥499m ÷ CN¥2.4b (Based on the trailing twelve months to June 2024).

21% = CN¥49900萬 ÷ CN¥24億(基於截至2024年6月的過去十二個月)。

The 'return' is the income the business earned over the last year. So, this means that for every HK$1 of its shareholder's investments, the company generates a profit of HK$0.21.

「回報率」是企業在過去一年賺取的收入。這意味着對於每1港元的股東投資,公司可以創造0.21港元的利潤。

Why Is ROE Important For Earnings Growth?

ROE爲什麼對淨利潤增長很重要?

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. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

我們已經意識到,ROE作爲公司未來盈利的有效衡量值。根據公司重新投資或「保留」這些利潤的程度,以及公司有效地運用這些利潤的程度,我們就能評估公司的盈利增長潛力。假設其他所有因素保持不變,ROE和利潤保留越高,增長率就會越高,相比於沒有這些特點的公司,公司的增長率就會更高。

A Side By Side comparison of Kangji Medical Holdings' Earnings Growth And 21% ROE

康基醫療控股的盈利增長和21%的roe的對比

To begin with, Kangji Medical Holdings seems to have a respectable ROE. On comparing with the average industry ROE of 7.9% the company's ROE looks pretty remarkable. This certainly adds some context to Kangji Medical Holdings' exceptional 22% net income growth seen over the past five years. We reckon that there could also be other factors at play here. For instance, the company has a low payout ratio or is being managed efficiently.

首先,康基醫療控股的roe似乎是可觀的。與行業平均roe的7.9%相比,公司的roe看起來相當卓越。這無疑爲康基醫療控股在過去五年中非凡的22%淨利潤增長增添了一些背景。我們認爲這裏可能還有其他因素在起作用。例如,該公司的派息比率較低或管理高效。

We then compared Kangji Medical Holdings' 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 12% in the same 5-year period.

隨後,我們將康基醫療控股的淨利潤增長與整個行業進行了比較,並且很高興地看到公司的增長數字高於同樣5年期間行業的12%的增長率。

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SEHK:9997 Past Earnings Growth September 9th 2024
sehk:9997 過去的盈利增長 2024年9月9日

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. Doing so will help them establish if the stock's future looks promising or ominous. Is Kangji Medical Holdings fairly valued compared to other companies? These 3 valuation measures might help you decide.

附加價值於一家公司的基礎,很大程度上取決於其盈利增長。投資者應該盡力確定盈利預期的增長或下降,無論是哪種情況,是否已被定價。這樣做將幫助他們確定股票的未來是否看好或不祥。康基醫療控股與其他公司相比是否公平定價?這些3項估值指標可能幫助您做決策。

Is Kangji Medical Holdings Making Efficient Use Of Its Profits?

康基醫療控股是否有效利用其利潤?

Kangji Medical Holdings' three-year median payout ratio is a pretty moderate 40%, meaning the company retains 60% of its income. This suggests that its dividend is well covered, and given the high growth we discussed above, it looks like Kangji Medical Holdings is reinvesting its earnings efficiently.

康基醫療控股的三年中位數派息率爲相當適中的40%,這意味着公司保留了60%的收入。這表明其股息有很好的保障,並且考慮到我們上面討論的高增長,康基醫療控股似乎在有效地將其利潤進行再投資。

Besides, Kangji Medical Holdings has been paying dividends over a period of three years. This shows that the company is committed to sharing profits with its shareholders.

此外,康基醫療控股已連續三年支付股息。這表明公司致力於與股東分享利潤。

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 Kangji Medical Holdings' performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.

總的來說,我們對康基醫療控股的業績感到非常滿意。特別是公司高額回報率下的大量業務再投資給我們留下了深刻印象。因而,預料良好的盈利增長也並不奇怪。不過,對最新分析師預測的研究表明,公司未來的盈利增長預計會放緩。這些分析師的預期是基於行業的普遍預期,還是基於公司的基本面呢?請點擊此處進入我們的分析師預測頁面了解更多信息。

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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。

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