Shandong Gold Phoenix Co.,Ltd's (SHSE:603586) Stock Going Strong But Fundamentals Look Weak: What Implications Could This Have On The Stock?
Shandong Gold Phoenix Co.,Ltd's (SHSE:603586) Stock Going Strong But Fundamentals Look Weak: What Implications Could This Have On The Stock?
Most readers would already be aware that Shandong Gold PhoenixLtd's (SHSE:603586) stock increased significantly by 15% over the past week. We, however wanted to have a closer look at its key financial indicators as the markets usually pay for long-term fundamentals, and in this case, they don't look very promising. Specifically, we decided to study Shandong Gold PhoenixLtd's ROE in this article.
大多数读者已经意识到,山东金凤有限公司(SHSE:603586)的股票在过去一周大幅上涨了15%。但是,我们想仔细研究其关键财务指标,因为市场通常为长期基本面买单,在这种情况下,它们看起来并不十分乐观。具体而言,我们决定在本文中研究山东金凤有限公司的投资回报率。
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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
ROE或股本回报率是评估公司如何有效地从股东那里获得的投资中获得回报的有用工具。简而言之,它用于评估公司相对于其股权资本的盈利能力。
Check out our latest analysis for Shandong Gold PhoenixLtd
看看我们对山东金凤凰有限公司的最新分析
How To Calculate Return On Equity?
如何计算股本回报率?
ROE can be calculated by using the formula:
ROE 可以通过以下公式计算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润(来自持续经营业务)÷ 股东权益
So, based on the above formula, the ROE for Shandong Gold PhoenixLtd is:
因此,根据上述公式,山东金凤有限公司的投资回报率为:
7.5% = CN¥168m ÷ CN¥2.2b (Based on the trailing twelve months to September 2023).
7.5% = 1.68亿元人民币 ¥222亿元人民币(基于截至2023年9月的过去十二个月)。
The 'return' is the income the business earned over the last year. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.08 in profit.
“回报” 是企业在过去一年中获得的收入。另一种看法是,每持有价值1元人民币的股权,公司就能获得0.08元人民币的利润。
What Is The Relationship Between ROE And Earnings Growth?
投资回报率与收益增长之间有什么关系?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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.
到目前为止,我们已经了解到,投资回报率衡量的是公司创造利润的效率。根据公司选择将多少利润进行再投资或 “保留”,我们便能够评估公司未来创造利润的能力。假设其他条件都一样,与功能不相同的公司相比,具有更高股本回报率和更高利润保留率的公司通常具有更高的增长率。
Shandong Gold PhoenixLtd's Earnings Growth And 7.5% ROE
山东金凤有限公司的收益增长和7.5%的投资回报率
On the face of it, Shandong Gold PhoenixLtd's ROE is not much to talk about. Yet, a closer study shows that the company's ROE is similar to the industry average of 7.4%. Still, Shandong Gold PhoenixLtd has seen a flat net income growth over the past five years. Bear in mind, the company's ROE is not very high. Hence, this provides some context to the flat earnings growth seen by the company.
从表面上看,山东金凤有限公司的投资回报率没什么好说的。然而,一项更仔细的研究表明,该公司的投资回报率与7.4%的行业平均水平相似。尽管如此,在过去五年中,山东金凤有限公司的净收入增长持平。请记住,该公司的投资回报率不是很高。因此,这为该公司持平的收益增长提供了一些背景信息。
As a next step, we compared Shandong Gold PhoenixLtd's net income growth with the industry and discovered that the industry saw an average growth of 4.0% in the same period.
下一步,我们将山东金凤有限公司的净收入增长与行业进行了比较,发现同期该行业的平均增长率为4.0%。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231109/0-989ce751cfcf864a1eccbcce05759aa7-0-a78c828af72fd57ec2b04cd82227a772.png/big)
Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. If you're wondering about Shandong Gold PhoenixLtd's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
收益增长是估值股票时要考虑的重要指标。对于投资者来说,重要的是要知道市场是否影响了公司的预期收益增长(或下降)。然后,这可以帮助他们确定股票是面向光明还是黯淡的未来。如果你想知道山东金凤有限公司的估值,可以看看这个衡量其市盈率与行业比较的指标。
Is Shandong Gold PhoenixLtd Using Its Retained Earnings Effectively?
山东金凤有限公司是否在有效使用其留存收益?
Shandong Gold PhoenixLtd has a high three-year median payout ratio of 71% (or a retention ratio of 29%), meaning that the company is paying most of its profits as dividends to its shareholders. This does go some way in explaining why there's been no growth in its earnings.
山东金凤有限公司的三年期中位派息率很高,为71%(或留存率为29%),这意味着该公司将大部分利润作为股息支付给股东。这确实在某种程度上解释了为什么其收益没有增长。
In addition, Shandong Gold PhoenixLtd has been paying dividends over a period of five years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth.
此外,山东金凤有限公司在五年内一直在派发股息,这表明即使以牺牲业务增长为代价,维持股息支付对管理层来说更为重要。
Conclusion
结论
Overall, we would be extremely cautious before making any decision on Shandong Gold PhoenixLtd. As a result of its low ROE and lack of much reinvestment into the business, the company has seen a disappointing earnings growth rate. Up till now, we've only made a short study of the company's growth data. You can do your own research on Shandong Gold PhoenixLtd and see how it has performed in the past by looking at this FREE detailed graph of past earnings, revenue and cash flows.
总体而言,在对山东金凤有限公司做出任何决定之前,我们会非常谨慎。由于投资回报率低以及对业务缺乏大量再投资,该公司的收益增长率令人失望。到目前为止,我们只对公司的增长数据进行了简短的研究。你可以自己研究山东金凤有限公司,看看这张过去的收益、收入和现金流的免费详细图表,看看它过去的表现。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。