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Dong-E-E-Jiao Co.,Ltd.'s (SZSE:000423) Stock Is Going Strong: Is the Market Following Fundamentals?

Dong-E-E-Jiao Co.,Ltd.'s (SZSE:000423) Stock Is Going Strong: Is the Market Following Fundamentals?

東阿阿膠股份有限公司(SZSE:000423)的股票表現強勁:市場是否遵循基本面?
Simply Wall St ·  2024/11/29 08:48

Dong-E-E-JiaoLtd's (SZSE:000423) stock is up by a considerable 14% over the past three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. In this article, we decided to focus on Dong-E-E-JiaoLtd's ROE.

Dong-e-jiaoltd(深圳證券交易所代碼:000423)的股票在過去三個月中大幅上漲了14%。由於市場通常會爲公司的長期基本面買單,因此我們決定研究公司的關鍵績效指標,看看它們是否會影響市場。在本文中,我們決定重點關注東e-e-jiaoltd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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.

投資回報率或股本回報率是評估公司如何有效地從股東那裏獲得投資回報的有用工具。簡而言之,它衡量公司相對於股東權益的盈利能力。

How To Calculate Return On Equity?

如何計算股本回報率?

Return on equity can be calculated by using the formula:

股本回報率可以使用以下公式計算:

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 Dong-E-E-JiaoLtd is:

因此,根據上述公式,Dong-e-jiaoltd的投資回報率爲:

15% = CN¥1.5b ÷ CN¥9.9b (Based on the trailing twelve months to September 2024).

15% = 15元人民幣 ÷ 99元人民幣(基於截至2024年9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 CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.15.

「回報」 是企業在過去一年中獲得的收入。因此,這意味着該公司每投資1元人民幣,就會產生0.15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?

So far, we've learned that ROE is a measure of a company's profitability. 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 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,投資回報率是衡量公司盈利能力的指標。然後,我們能夠評估公司的收益增長潛力,具體取決於公司對這些利潤進行再投資或 「保留」 了多少及其有效性。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。

A Side By Side comparison of Dong-E-E-JiaoLtd's Earnings Growth And 15% ROE

Dong-e-e-jiaoltd的收益增長和15%的投資回報率的並排比較

At first glance, Dong-E-E-JiaoLtd seems to have a decent ROE. On comparing with the average industry ROE of 7.7% the company's ROE looks pretty remarkable. This probably laid the ground for Dong-E-E-JiaoLtd's significant 49% net income growth seen over the past five years. We reckon that there could also be other factors at play here. Such as - high earnings retention or an efficient management in place.

乍一看,Dong-e-e-jiaoltd的投資回報率似乎不錯。與7.7%的行業平均投資回報率相比,該公司的投資回報率看起來相當可觀。這可能爲Dong-e-e-jiaoltd在過去五年中實現49%的顯著淨收入增長奠定了基礎。我們認爲,這裏可能還有其他因素在起作用。例如——高收益留存率或實行高效管理。

As a next step, we compared Dong-E-E-JiaoLtd'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 9.1%.

下一步,我們將Dong-e-jiaoltd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行業平均增長9.1%。

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SZSE:000423 Past Earnings Growth November 29th 2024
SZSE: 000423 過去的收益增長 2024 年 11 月 29 日

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. Doing so will help them establish if the stock's future looks promising or ominous. What is 000423 worth today? The intrinsic value infographic in our free research report helps visualize whether 000423 is currently mispriced by the market.

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。這樣做將幫助他們確定股票的未來是樂觀還是不祥的。今天的000423值多少錢?我們的免費研究報告中的內在價值信息圖有助於可視化市場目前是否對000423進行了錯誤的定價。

Is Dong-E-E-JiaoLtd Using Its Retained Earnings Effectively?

Dong-e-e-jiaoltd 是否在有效使用其留存收益?

Dong-E-E-JiaoLtd has a significant three-year median payout ratio of 86%, meaning the company only retains 14% of its income. This implies that the company has been able to achieve high earnings growth despite returning most of its profits to shareholders.

Dong-e-e-jiaoltd的三年派息率中位數相當可觀,爲86%,這意味着該公司僅保留收入的14%。這意味着儘管將大部分利潤返還給了股東,但該公司仍能夠實現高收益增長。

Besides, Dong-E-E-JiaoLtd has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 89%. As a result, Dong-E-E-JiaoLtd's ROE is not expected to change by much either, which we inferred from the analyst estimate of 17% for future ROE.

此外,Dong-e-e-jiaoltd派發股息已有至少十年或更長時間了。這表明該公司致力於與股東分享利潤。根據分析師的最新估計,我們發現該公司未來三年的派息率預計將穩定在89%。因此,預計Dong-e-e-jiaoltd的投資回報率也不會有太大變化,我們從分析師對未來投資回報率爲17%的估計中推斷了這一點。

Conclusion

結論

On the whole, we feel that Dong-E-E-JiaoLtd's performance has been quite good. In particular, its high ROE is quite noteworthy and also the probable explanation behind its considerable earnings growth. Yet, the company is retaining a small portion of its profits. Which means that the company has been able to grow its earnings in spite of it, so that's not too bad. 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. 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,我們覺得東e-e-jiaoltd的表現相當不錯。特別是,其高投資回報率非常值得注意,也是其可觀收益增長背後的可能解釋。但是,該公司保留了其利潤的一小部分。這意味着儘管如此,該公司還是能夠增加收益,所以這還不錯。既然如此,對分析師最新預測的研究表明,預計該公司未來的收益增長將放緩。要了解有關公司未來收益增長預測的更多信息,請查看這份免費的分析師預測報告,以了解更多信息。

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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.

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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。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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