Is Shandong Nanshan Aluminium Co.,Ltd.'s (SHSE:600219) Recent Stock Performance Tethered To Its Strong Fundamentals?
Is Shandong Nanshan Aluminium Co.,Ltd.'s (SHSE:600219) Recent Stock Performance Tethered To Its Strong Fundamentals?
Shandong Nanshan AluminiumLtd (SHSE:600219) has had a great run on the share market with its stock up by a significant 11% over the last 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. Specifically, we decided to study Shandong Nanshan AluminiumLtd's ROE in this article.
山東南山鋁業股份有限公司(SHSE:600219)股票在股市上表現出色,過去三個月上漲了顯著的11%。由於市場通常會爲公司的長期基本面買單,我們決定研究該公司的關鍵績效因子,看看它們是否可能影響市場。具體而言,我們決定在本文中研究山東南山鋁業的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 Is ROE Calculated?
淨資產收益率怎麼計算?
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
淨資產收益率 = 淨利潤(來自持續經營) ÷ 股東權益
So, based on the above formula, the ROE for Shandong Nanshan AluminiumLtd is:
因此,根據上述公式,山東南山鋁業的ROE爲:
10% = CN¥5.8b ÷ CN¥56b (Based on the trailing twelve months to September 2024).
10% = 5800000000人民幣 ÷ 56000000000人民幣(截至2024年9月的過去十二個月)。
The 'return' refers to a company's earnings over the last year. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.10 in profit.
「回報」是指公司在過去一年內的收益。這可以這樣理解,對於每1元股東資本,該公司獲得了0.10元的利潤。
Why Is ROE Important For Earnings Growth?
ROE爲什麼對淨利潤增長很重要?
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roe是公司盈利能力的一種度量方法。根據公司再投資或「留存」利潤的程度以及其有效性,我們隨後能夠評估公司的盈利增長潛力。假設其他所有因素相同,則具有更高淨資產收益率和更高利潤保留的公司通常比沒有相同功能的公司增長率更高。
Shandong Nanshan AluminiumLtd's Earnings Growth And 10% ROE
Shandong Nanshan AluminiumLtd's Earnings Growth And 10% ROE
On the face of it, Shandong Nanshan AluminiumLtd's ROE is not much to talk about. However, the fact that the company's ROE is higher than the average industry ROE of 7.5%, is definitely interesting. This probably goes some way in explaining Shandong Nanshan AluminiumLtd's moderate 19% growth over the past five years amongst other factors. Bear in mind, the company does have a moderately low ROE. It is just that the industry ROE is lower. Hence there might be some other aspects that are causing earnings to grow. Such as- high earnings retention or the company belonging to a high growth industry.
On the face of it, Shandong Nanshan AluminiumLtd's ROE is not much to talk about. However, the fact that the company's ROE is higher than the average industry ROE of 7.5%, is definitely interesting. This probably goes some way in explaining Shandong Nanshan AluminiumLtd's moderate 19% growth over the past five years amongst other factors. Bear in mind, the company does have a moderately low ROE. It is just that the industry ROE is lower. Hence there might be some other aspects that are causing earnings to grow. Such as- high earnings retention or the company belonging to a high growth industry.
We then compared Shandong Nanshan AluminiumLtd's 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 9.8% in the same 5-year period.
We then compared Shandong Nanshan AluminiumLtd's 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 9.8% in the same 5-year period.
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. Is Shandong Nanshan AluminiumLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
投資者對公司進行估值的基礎在很大程度上取決於其盈利增長。接下來投資者需要判斷的是,預期的盈利增長,或者其缺失是否已經融入了股價中。這有助於他們判斷股票是面臨光明還是暗淡的未來。與其他公司相比,山東南山鋁業股份有限公司是否定價合理?以下3個估值指標可能幫助您決定。
Is Shandong Nanshan AluminiumLtd Making Efficient Use Of Its Profits?
山東南山鋁業股份有限公司是否有效利用其利潤?
Shandong Nanshan AluminiumLtd's three-year median payout ratio to shareholders is 20% (implying that it retains 80% of its income), which is on the lower side, so it seems like the management is reinvesting profits heavily to grow its business.
山東南山鋁業股份有限公司向股東的三年中值支付比率爲20%(暗示其留存80%的收入),這是偏低的,因此似乎管理層正在大量再投資利潤以發展業務。此外,山東南山鋁業股份有限公司至少已連續十年向股東分紅。這表明公司致力於與股東分享利潤。根據最新分析師的預測,我們發現該公司未來三年的股利支付比率預計將穩定在22%。因此,預測顯示山東南山鋁業股份有限公司未來的roe將爲8.7%,與當前roe相似。
Besides, Shandong Nanshan AluminiumLtd 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 22%. Accordingly, forecasts suggest that Shandong Nanshan AluminiumLtd's future ROE will be 8.7% which is again, similar to the current ROE.
此外,山東南山鋁業股份有限公司至少已連續十年向股東支付股息。這表明公司致力於與股東分享利潤。根據最新分析師的估計,我們發現該公司未來三年的股利支付比率預計將保持在22%。因此,預測顯示山東南山鋁業股份有限公司未來的roe將爲8.7%,與當前roe相似。
Conclusion
結論
On the whole, we feel that Shandong Nanshan AluminiumLtd's performance has been quite good. Specifically, we like that it has been reinvesting a high portion of its profits at a moderate rate of return, resulting in earnings expansion. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總體來看,我們認爲山東南山鋁業的表現相當不錯。具體來說,我們喜歡它以適度的回報率將高比例的利潤再投資,從而實現盈利擴張。話雖如此,最新的行業分析師預測表明,公司的盈利增長預計將放緩。要了解更多關於該公司最新分析師預測的信息,請查看這份公司的分析師預測可視化。
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