Is Nantong Jiangshan Agrochemical & Chemicals Co.,Ltd.'s (SHSE:600389) Recent Stock Performance Influenced By Its Fundamentals In Any Way?
Is Nantong Jiangshan Agrochemical & Chemicals Co.,Ltd.'s (SHSE:600389) Recent Stock Performance Influenced By Its Fundamentals In Any Way?
Nantong Jiangshan Agrochemical & ChemicalsLtd's (SHSE:600389) stock is up by a considerable 7.2% over the past week. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to study its financial indicators more closely to see if they had a hand to play in the recent price move. Specifically, we decided to study Nantong Jiangshan Agrochemical & ChemicalsLtd's ROE in this article.
南通江山農化股份有限公司(SHSE:600389)的股票在過去一週內大幅上漲了7.2%。鑑於股價通常與公司的長期財務表現保持一致,我們決定更加仔細地研究其財務指標,以確定這些指標是否在最近的股價波動中發揮了作用。具體而言,我們決定在本文中研究南通江山農化股份有限公司的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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股東應考慮的重要因素是淨資產收益率或roe,因爲它告訴他們投資的資本如何被有效地再投資。簡單來說,它用於評估公司與其股權資本相關的盈利能力。
How Is ROE Calculated?
淨資產收益率怎麼計算?
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 Nantong Jiangshan Agrochemical & ChemicalsLtd is:
因此,根據上述公式,南通江山農化股份有限公司的roe爲:
6.8% = CN¥265m ÷ CN¥3.9b (Based on the trailing twelve months to June 2024).
6.8% = 2.65億元 ÷ 390億人民幣(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. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.07 in profit.
這個「回報」是指公司過去一年的盈利。另一種思考方式是,對於每1元人民幣的股權,公司能夠賺取0.07元的利潤。
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. 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.
我們已經確定,ROE是公司未來賺錢能力的有效衡量標準。現在我們需要評估公司爲未來增長而再投資或「保留」的利潤。這樣,我們就能了解公司的增長潛力。一般而言,在其他條件相等的情況下,具有高淨資產收益率和利潤保留率的公司,比那些不具備這些特點的公司有更高的增長率。
A Side By Side comparison of Nantong Jiangshan Agrochemical & ChemicalsLtd's Earnings Growth And 6.8% ROE
南通江山農化化工股份有限公司的淨利潤增長和6.8%的roe的旁邊對比
On the face of it, Nantong Jiangshan Agrochemical & ChemicalsLtd's ROE is not much to talk about. However, given that the company's ROE is similar to the average industry ROE of 6.4%, we may spare it some thought. Even so, Nantong Jiangshan Agrochemical & ChemicalsLtd has shown a fairly decent growth in its net income which grew at a rate of 15%. 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. Such as - high earnings retention or an efficient management in place.
乍一看,南通江山農化化工股份有限公司的roe並不值得一提。然而,考慮到公司的roe與行業平均roe6.4%相似,我們可能還需要考慮一下。即便如此,南通江山農化化工股份有限公司的淨利潤增長相當可觀,增速爲15%。考慮到roe並不特別高,我們推測也可能會有其他因素影響了公司的增長。比如高收益保留或有效的管理體系。
Next, on comparing with the industry net income growth, we found that Nantong Jiangshan Agrochemical & ChemicalsLtd's growth is quite high when compared to the industry average growth of 6.2% in the same period, which is great to see.
接下來,與行業淨利潤增長相比,我們發現南通江山農化化工股份有限公司的增長相當高,相較於同期行業平均增長率6.2%,這是很好的發現。
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. 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 Nantong Jiangshan Agrochemical & ChemicalsLtd's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
盈利增長是在估值股票時需要考慮的重要指標。投資者接下來需要確定的是,預期的盈利增長,或者缺乏盈利增長,是否已經融入股價中。通過這樣做,他們將了解股票是前往清澈藍色水域,還是等待污水淤泥中。如果您想了解南通江山農藥化學有限公司的估值,請查看其市盈率與行業板塊的比較。
Is Nantong Jiangshan Agrochemical & ChemicalsLtd Using Its Retained Earnings Effectively?
南通江山農藥化學有限公司是否有效利用留存收益?
While Nantong Jiangshan Agrochemical & ChemicalsLtd has a three-year median payout ratio of 60% (which means it retains 40% of profits), the company has still seen a fair bit of earnings growth in the past, meaning that its high payout ratio hasn't hampered its ability to grow.
儘管南通江山農藥化學有限公司的三年中值分紅比率爲60%(這意味着公司留存40%的利潤),但公司過去仍然看到了相當多的盈利增長,這意味着其高分紅比率並沒有阻礙其增長能力。
Moreover, Nantong Jiangshan Agrochemical & ChemicalsLtd 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,南通江山農藥化學有限公司決心繼續與股東分享其利潤,這一點我們可以從其至少連續十年支付股息的悠久歷史中推斷出。
Conclusion
結論
In total, it does look like Nantong Jiangshan Agrochemical & ChemicalsLtd 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. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總的來看,南通江山農化有一些業務上的積極因素。雖然毫無疑問其收益增長相當可觀,但我們認爲再投資率相當低,這意味着如果公司留住更多利潤,收益增長數字可能會顯著提高。話雖如此,從目前的分析師預測來看,我們發現該公司的收益有望獲得動力。要了解更多關於該公司最新分析師預測的信息,請查看該公司的分析師預測可視化。
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