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Venustech Group Inc. (SZSE:002439) Is Going Strong But Fundamentals Appear To Be Mixed : Is There A Clear Direction For The Stock?

Venustech Group Inc. (SZSE:002439) Is Going Strong But Fundamentals Appear To Be Mixed : Is There A Clear Direction For The Stock?

啓明星辰 (SZSE:002439) 表現強勁,但基本面似乎存在分歧:股票是否有明確方向?
Simply Wall St ·  12/17 23:18

Venustech Group (SZSE:002439) has had a great run on the share market with its stock up by a significant 32% over the last three months. However, we wonder if the company's inconsistent financials would have any adverse impact on the current share price momentum. In this article, we decided to focus on Venustech Group's ROE.

Venustech集團(SZSE:002439)在股票市場上表現良好,其股票在過去三個月中大幅上漲了32%。但是,我們想知道該公司財務狀況不穩定是否會對當前的股價勢頭產生任何不利影響。在本文中,我們決定重點關注Venustech集團的投資回報率。

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

股本回報率或投資回報率是對公司價值增長和管理投資者資金的有效性的考驗。簡而言之,它用於評估公司相對於其股權資本的盈利能力。

How Do You Calculate Return On Equity?

你如何計算股本回報率?

The formula for return on equity is:

股本回報率的公式是:

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 Venustech Group is:

因此,根據上述公式,Venustech集團的投資回報率爲:

2.5% = CN¥286m ÷ CN¥11b (Based on the trailing twelve months to September 2024).

2.5% = 28600萬元人民幣 ÷ 110元人民幣(基於截至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¥0.02 in profit.

「回報」 是指公司去年的收益。對此進行概念化的一種方法是,該公司每擁有1元人民幣的股本即可獲得0.02元人民幣的利潤。

Why Is ROE Important For Earnings Growth?

爲什麼投資回報率對收益增長很重要?

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,投資回報率是衡量公司未來收益的有效利潤指標。我們現在需要評估公司再投資或 「保留」 了多少利潤以用於未來的增長,這樣我們就可以了解公司的增長潛力。一般而言,在其他條件相同的情況下,股本回報率和利潤保留率高的公司比不具備這些屬性的公司的增長率更高。

Venustech Group's Earnings Growth And 2.5% ROE

Venustech 集團的收益增長和 2.5% 的投資回報率

It is hard to argue that Venustech Group's ROE is much good in and of itself. Even compared to the average industry ROE of 4.5%, the company's ROE is quite dismal. As a result, Venustech Group's flat earnings over the past five years doesn't come as a surprise given its lower ROE.

很難說Venustech集團的投資回報率本身就非常好。即使與4.5%的行業平均投資回報率相比,該公司的投資回報率也相當慘淡。因此,鑑於投資回報率較低,Venustech集團在過去五年中收益持平並不令人意外。

We then compared Venustech Group's net income growth with the industry and found that the company's growth figure is a bit less than the average industry growth rate of 1.1% in the same 5-year period.

然後,我們將Venustech集團的淨收入增長與該行業進行了比較,發現該公司的增長數字略低於同期行業1.1%的平均增長率。

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SZSE:002439 Past Earnings Growth December 18th 2024
SZSE: 002439 過去的收益增長 2024 年 12 月 18 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. 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 Venustech Group is trading on a high P/E or a low P/E, relative to its industry.

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。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Venustech集團相對於其行業是高市盈率還是低市盈率。

Is Venustech Group Making Efficient Use Of Its Profits?

Venustech集團是否在有效利用其利潤?

Venustech Group's low three-year median payout ratio of 18% (implying that the company keeps82% of its income) should mean that the company is retaining most of its earnings to fuel its growth and this should be reflected in its growth number, but that's not the case.

Venustech Group的三年中位數派息率很低,爲18%(這意味着該公司保留了收入的82%),這應該意味着該公司保留了大部分收益來推動增長,這應該反映在其增長數字中,但事實並非如此。

In addition, Venustech Group 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. Looking at the current analyst consensus data, we can see that the company's future payout ratio is expected to rise to 42% over the next three years. Regardless, the future ROE for Venustech Group is speculated to rise to 8.1% despite the anticipated increase in the payout ratio. There could probably be other factors that could be driving the future growth in the ROE.

此外,Venustech Group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,維持股息支付對管理層來說也更爲重要。從目前的分析師共識數據來看,我們可以看出,該公司的未來派息率預計將在未來三年內升至42%。無論如何,儘管預計派息率將增加,但預計Venustech集團的未來投資回報率仍將升至8.1%。可能還有其他因素可能推動投資回報率的未來增長。

Summary

摘要

On the whole, we feel that the performance shown by Venustech Group can be open to many interpretations. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

總的來說,我們認爲Venustech集團表現出的表現可以有多種解釋。儘管該公司的利潤保留率確實很高,但其低迴報率可能會阻礙其收益增長。既然如此,最新的行業分析師預測顯示,分析師預計公司的收益增長率將得到巨大改善。要詳細了解分析師對公司的最新預測,請查看該公司的分析師預測的可視化。

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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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