HBIS Resources Co., Ltd.'s (SZSE:000923) Financials Are Too Obscure To Link With Current Share Price Momentum: What's In Store For the Stock?
HBIS Resources Co., Ltd.'s (SZSE:000923) Financials Are Too Obscure To Link With Current Share Price Momentum: What's In Store For the Stock?
Most readers would already be aware that HBIS Resources' (SZSE:000923) stock increased significantly by 14% over the past three months. However, we decided to pay attention to the company's fundamentals which don't appear to give a clear sign about the company's financial health. Particularly, we will be paying attention to HBIS Resources' ROE today.
大多數讀者已經意識到,HBIS Resources(深圳證券交易所代碼:000923)的股票在過去三個月中大幅增長了14%。但是,我們決定關注公司的基本面,這些基本面似乎並未給公司的財務狀況提供明確的信號。特別是,我們今天將關注HBIS Resources的投資回報率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股本回報率或投資回報率是對公司增值和管理投資者資金的有效性的考驗。簡而言之,投資回報率顯示了每美元從其股東投資中產生的利潤。
How Do You Calculate Return On Equity?
你如何計算股本回報率?
ROE can be calculated by using the formula:
ROE 可以通過使用以下公式計算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤(來自持續經營)÷ 股東權益
So, based on the above formula, the ROE for HBIS Resources is:
因此,根據上述公式,HBIS資源的投資回報率爲:
8.6% = CN¥1.1b ÷ CN¥13b (Based on the trailing twelve months to September 2024).
8.6% = 11元人民幣 ÷ 130元人民幣(基於截至2024年9月的過去十二個月)。
The 'return' is the profit over the last twelve months. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.09 in profit.
「回報」 是過去十二個月的利潤。另一種思考方式是,每持有價值1元人民幣的股權,該公司就能獲得0.09元人民幣的利潤。
What Is The Relationship Between ROE And Earnings Growth?
投資回報率與收益增長之間有什麼關係?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
我們已經確定,投資回報率是衡量公司未來收益的有效盈利指標。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。
HBIS Resources' Earnings Growth And 8.6% ROE
HBIS Resources的收益增長和8.6%的投資回報率
On the face of it, HBIS Resources' ROE is not much to talk about. Yet, a closer study shows that the company's ROE is similar to the industry average of 7.5%. Having said that, HBIS Resources has shown a meagre net income growth of 2.0% over the past five years. Remember, the company's ROE is not particularly great to begin with. Hence, this does provide some context to low earnings growth seen by the company.
從表面上看,HBIS Resources的投資回報率沒什麼好談的。然而,一項更仔細的研究表明,該公司的投資回報率與行業平均水平的7.5%相似。話雖如此,在過去五年中,HBIS Resources的淨收入增長微不足道,爲2.0%。請記住,公司的投資回報率一開始並不是特別好。因此,這確實爲公司所看到的低收益增長提供了一些背景信息。
As a next step, we compared HBIS Resources' net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 9.8% in the same period.
下一步,我們將HBIS Resources的淨收入增長與該行業進行了比較,並失望地看到該公司的增長低於同期9.8%的行業平均增長。
Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if HBIS Resources is trading on a high P/E or a low P/E, relative to its industry.
收益增長是股票估值的重要因素。無論如何,投資者應設法確定預期的收益增長或下降是否已計入其中。然後,這可以幫助他們確定股票是面向光明還是暗淡的未來。衡量預期收益增長的一個很好的指標是市盈率,它根據收益前景決定了市場願意爲股票支付的價格。因此,您可能需要檢查相對於其行業,HBIS Resources的交易市盈率是高還是低。
Is HBIS Resources Efficiently Re-investing Its Profits?
HBIS Resources是否有效地將其利潤再投資?
Despite having a moderate three-year median payout ratio of 32% (implying that the company retains the remaining 68% of its income), HBIS Resources' earnings growth was quite low. So there might be other factors at play here which could potentially be hampering growth. For example, the business has faced some headwinds.
儘管三年派息率中位數爲32%(這意味着該公司保留了剩餘的68%的收入),但HBIS Resources的收益增長還是相當低的。因此,這裏可能還有其他因素在起作用,這些因素可能會阻礙增長。例如,該業務面臨一些阻力。
In addition, HBIS Resources has been paying dividends over a period of at least ten years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth.
此外,HBIS Resources在至少十年內一直在支付股息,這表明即使以業務增長爲代價,繼續支付股息對管理層來說也更爲重要。
Conclusion
結論
Overall, we have mixed feelings about HBIS Resources. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
總的來說,我們對HBIS Resources的看法喜憂參半。儘管該公司的再投資率確實很高,但低投資回報率意味着所有這些再投資都沒有給投資者帶來任何好處,而且還對收益增長產生了負面影響。既然如此,分析師的最新預測顯示,該公司的收益將繼續擴大。要了解有關公司未來收益增長預測的更多信息,請查看這份關於分析師預測的免費報告,以了解更多信息。
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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提供基於歷史數據和分析師預測的評論,我們的文章並非旨在提供財務建議。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,我們的分析可能不會考慮最新的價格敏感型公司公告或定性材料。華爾街只是沒有持有上述任何股票的頭寸。