Baoding Lucky Innovative Materials Co.,Ltd's (SZSE:300446) Has Performed Well But Fundamentals Look Varied: Is There A Clear Direction For The Stock?
Baoding Lucky Innovative Materials Co.,Ltd's (SZSE:300446) Has Performed Well But Fundamentals Look Varied: Is There A Clear Direction For The Stock?
Most readers would already know that Baoding Lucky Innovative MaterialsLtd's (SZSE:300446) stock increased by 4.5% over the past week. However, we decided to study the company's mixed-bag of fundamentals to assess what this could mean for future share prices, as stock prices tend to be aligned with a company's long-term financial performance. Particularly, we will be paying attention to Baoding Lucky Innovative MaterialsLtd's ROE today.
大多数读者应该已经知道,保定瑞幸创新材料有限公司(SZSE:300446)的股票在过去一周上涨了4.5%。然而,我们决定研究该公司的各种基本面因素,以评估这对未来股价可能意味着什么,因为股价往往与公司的长期财务表现保持一致。今天我们特别关注保定瑞幸创新材料有限公司的净资产收益率。
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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
股本回报率或净资产收益率是股东要考虑的一个重要因素,因为它告诉他们他们的资本再投资的效率。换句话说,这是一个衡量公司股东提供的资本回报率的盈利比率。
See our latest analysis for Baoding Lucky Innovative MaterialsLtd
请看我们对保定瑞幸创新材料有限公司的最新分析
How Do You Calculate Return On Equity?
你如何计算股本回报率?
The formula for return on equity is:
这个股本回报率公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润?股东权益
So, based on the above formula, the ROE for Baoding Lucky Innovative MaterialsLtd is:
因此,根据上述公式,保定瑞幸创新材料有限公司的净资产收益率为:
1.6% = CN¥11m ÷ CN¥691m (Based on the trailing twelve months to June 2023).
1.6%=1100万元×6.91亿元(以截至2023年6月的12个月为基础)。
The 'return' is the yearly profit. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.02 in profit.
“回报”就是年度利润。一种概念化的方法是,公司每拥有1元人民币的股东资本,就会获得0.02元人民币的利润。
Why Is ROE Important For Earnings Growth?
为什么净资产收益率对收益增长很重要?
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. 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.
到目前为止,我们了解到净资产收益率是衡量一家公司盈利能力的指标。根据公司将这些利润再投资或“保留”多少,以及这样做的效率如何,我们就能够评估一家公司的收益增长潜力。一般来说,在其他条件相同的情况下,股本回报率和利润留存较高的公司比不具备这些特征的公司有更高的增长率。
A Side By Side comparison of Baoding Lucky Innovative MaterialsLtd's Earnings Growth And 1.6% ROE
保定瑞幸创新材料有限公司盈利增长与净资产收益率1.6%的并列比较
It is hard to argue that Baoding Lucky Innovative MaterialsLtd's ROE is much good in and of itself. Not just that, even compared to the industry average of 7.4%, the company's ROE is entirely unremarkable. For this reason, Baoding Lucky Innovative MaterialsLtd's five year net income decline of 58% is not surprising given its lower ROE. We reckon that there could also be other factors at play here. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.
很难说保定瑞幸创新材料有限公司的净资产收益率本身就很好。不仅如此,即使与7.4%的行业平均水平相比,该公司的净资产收益率也完全不起眼。出于这个原因,保定瑞幸创新材料有限公司五年来净收入下降58%并不令人意外,因为它的净资产收益率较低。我们认为,可能还有其他因素在起作用。例如,企业的资本配置不佳,或者公司的派息率非常高。
That being said, we compared Baoding Lucky Innovative MaterialsLtd's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 14% in the same 5-year period.
话虽如此,我们将保定瑞幸创新材料有限公司的表现与行业进行了比较,当我们发现保定瑞幸创新材料有限公司的收益在同一个5年内以14%的速度增长时,我们感到担忧。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231011/0-a334c3ac21d86a2d2396815b981f0159-0-fb9ab3209d146d13bd764925c849008e.png/big)
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Baoding Lucky Innovative MaterialsLtd's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
赋予一家公司价值的基础在很大程度上与其盈利增长挂钩。投资者应该尝试确定预期的收益增长或下降是否已计入价格,无论是哪种情况。这样做将有助于他们确定该股的未来看起来是光明的还是不祥的。如果你想知道保定瑞幸创新材料有限公司的估值,看看这个衡量其市盈率的指标,与其行业相比。
Is Baoding Lucky Innovative MaterialsLtd Using Its Retained Earnings Effectively?
保定瑞幸创新材料有限公司是否有效利用其留存收益?
While the company did payout a portion of its dividend in the past, it currently doesn't pay a dividend. This implies that potentially all of its profits are being reinvested in the business.
虽然该公司过去确实支付了一部分股息,但目前它不支付股息。这意味着,它的所有利润可能都将再投资于该业务。
Conclusion
结论
On the whole, we feel that the performance shown by Baoding Lucky Innovative MaterialsLtd can be open to many interpretations. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. Our risks dashboard would have the 3 risks we have identified for Baoding Lucky Innovative MaterialsLtd.
总体而言,我们觉得保定瑞幸创新材料有限公司的表现可以有多种解读。尽管它似乎保留了大部分利润,但鉴于净资产收益率较低,投资者可能终究不会从所有这些再投资中受益。低收益增长率表明我们的理论是正确的。总而言之,我们将谨慎对待这家公司,其中一种方法是查看业务的风险概况。我们的风险仪表板将包含我们为保定瑞幸创新材料有限公司确定的3个风险。
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本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。