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Is Binjiang Service Group Co. Ltd.'s (HKG:3316) Recent Stock Performance Tethered To Its Strong Fundamentals?

Is Binjiang Service Group Co. Ltd.'s (HKG:3316) Recent Stock Performance Tethered To Its Strong Fundamentals?

濱江服務集團有限公司(HKG:3316)最近的股票表現是否與其強勁的基本面有關?
Simply Wall St ·  2024/12/12 14:59

Binjiang Service Group (HKG:3316) has had a great run on the share market with its stock up by a significant 17% 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. In this article, we decided to focus on Binjiang Service Group's ROE.

滘江服務集團(HKG:3316)在股市上表現出色,過去三個月其股票上漲了顯著的17%。由於市場通常關注公司的長期基本面,我們決定研究公司的關鍵業績因數,以看看它們是否可能影響市場。 在這篇文章中,我們決定專注於滘江服務集團的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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.

股本回報率或ROE是股東需要考慮的重要因素,因爲它告訴他們自己的資本是如何有效地被再投資的。簡單來說,它衡量的是公司相對於股東權益的盈利能力。

How Is ROE Calculated?

淨資產收益率怎麼計算?

Return on equity can be calculated by using the formula:

淨資產收益率可以通過以下公式計算:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

股東權益回報率 = 凈利潤(來自持續運營)÷ 股東權益

So, based on the above formula, the ROE for Binjiang Service Group is:

因此,根據上述公式,滘江服務集團的ROE爲:

37% = CN¥538m ÷ CN¥1.5b (Based on the trailing twelve months to June 2024).

37% = CN¥53800萬 ÷ CN¥15億(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. One way to conceptualize this is that for each HK$1 of shareholders' capital it has, the company made HK$0.37 in profit.

「回報」是業務在過去一年中獲得的收入。一個概念化的方式是,對於每HK$1的股東資本,公司賺取了HK$0.37的利潤。

Why Is ROE Important For Earnings Growth?

ROE爲什麼對凈利潤增長很重要?

Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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,我們了解到ROE衡量的是公司產生利潤的效率。根據公司再投資或"保留"這些利潤的多少,以及它的有效性,我們能夠評估公司的收益增長潛力。在其他條件相同的情況下,既有較高的權益回報率又有較高利潤保留的公司通常比沒有這些特徵的公司擁有更高的增長率。

A Side By Side comparison of Binjiang Service Group's Earnings Growth And 37% ROE

對濱江服務集團的盈利增長和37% ROE的並列比較

Firstly, we acknowledge that Binjiang Service Group has a significantly high ROE. Additionally, the company's ROE is higher compared to the industry average of 7.4% which is quite remarkable. Under the circumstances, Binjiang Service Group's considerable five year net income growth of 30% was to be expected.

首先,我們承認濱江服務集團的ROE顯著偏高。此外,公司的ROE高於行業平均水平7.4%,這相當顯著。在這種情況下,濱江服務集團五年內30%的凈利潤增長是可以預見的。

We then compared Binjiang Service Group'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 3.9% in the same 5-year period.

隨後我們將濱江服務集團的凈利潤增長與行業進行了比較,我們高興地看到,與行業在同五年期間的3.9%的增長率相比,公司的增長數據更高。

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SEHK:3316 Past Earnings Growth December 12th 2024
SEHK:3316 過去的盈利增長 2024年12月12日

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. Has the market priced in the future outlook for 3316? You can find out in our latest intrinsic value infographic research report.

盈利增長是股票估值的重要因素。投資者應嘗試確定預期的盈利增長或下降,視情況而定,是否已經被定價。這有助於他們判斷股票是走向光明還是黯淡的未來。市場是否已經考慮了3316的未來前景?你可以在我們最新的內在價值信息圖研究報告中找到答案。

Is Binjiang Service Group Using Its Retained Earnings Effectively?

濱江服務集團是否有效利用了其留存收益?

The high three-year median payout ratio of 59% (implying that it keeps only 41% of profits) for Binjiang Service Group suggests that the company's growth wasn't really hampered despite it returning most of the earnings to its shareholders.

濱江服務集團高達59%的三年中位數派息比率(意味着它僅保留41%的利潤)表明,該公司的增長並沒有因爲將大部分收益返還給股東而受到嚴重阻礙。

Additionally, Binjiang Service Group has paid dividends over a period of six years which means that the company is pretty serious about sharing its profits with shareholders.

此外,濱江服務集團在六年的期間內支付了分紅,這意味着該公司十分重視與股東分享其利潤。

Conclusion

結論

In total, we are pretty happy with Binjiang Service Group's performance. 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. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. 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.

總體來說,我們對濱江服務集團的表現非常滿意。特別是,它的高ROE非常引人注目,這也是其顯著盈利增長的可能解釋。然而,公司的利潤留存較小。這意味着公司能夠在此背景下實現盈利增長,因此這並不算太糟糕。也就是說,預計公司的盈利增長將放緩,正如當前分析師的預估所預測的那樣。這些分析師的預期是基於行業的廣泛預期,還是基於公司的基本面?點擊這裏查看我們分析師的公司預測頁面。

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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.

對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall ST在提到的任何股票中均沒有持倉。

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