SHENZHEN TOPRAYSOLAR Co.,Ltd. (SZSE:002218) Stock Is Going Strong But Fundamentals Look Uncertain: What Lies Ahead ?
SHENZHEN TOPRAYSOLAR Co.,Ltd. (SZSE:002218) Stock Is Going Strong But Fundamentals Look Uncertain: What Lies Ahead ?
SHENZHEN TOPRAYSOLARLtd's (SZSE:002218) stock is up by a considerable 16% over the past month. However, we decided to pay attention to the company's fundamentals which don't appear to give a clear sign about the company's financial health. In this article, we decided to focus on SHENZHEN TOPRAYSOLARLtd's ROE.
深圳TopraySolarLtd(深圳證券交易所:002218)的股票在過去一個月中大幅上漲了16%。但是,我們決定關注公司的基本面,這些基本面似乎並未給出公司財務狀況的明確信號。在本文中,我們決定重點關注深圳TopraySolarLtd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. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股本回報率或投資回報率是對公司增值和管理投資者資金的有效性的考驗。簡而言之,投資回報率顯示了每美元從其股東投資中產生的利潤。
Check out our latest analysis for SHENZHEN TOPRAYSOLARLtd
查看我們對深圳TopraySolarLtd的最新分析
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(來自持續經營業務)÷ 股東權益
So, based on the above formula, the ROE for SHENZHEN TOPRAYSOLARLtd is:
因此,根據上述公式,深圳TopraySolarLtd的投資回報率爲:
1.2% = CN¥50m ÷ CN¥4.2b (Based on the trailing twelve months to September 2023).
1.2% = 5000萬元人民幣 ¥42億元人民幣(基於截至2023年9月的過去十二個月)。
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.01.
“回報” 是過去十二個月的稅後收入。因此,這意味着其股東每投資1元人民幣,公司就會產生0.01元人民幣的利潤。
What Is The Relationship Between ROE And Earnings Growth?
投資回報率與收益增長之間有什麼關係?
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. 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.
我們已經確定,投資回報率是衡量公司未來收益的有效盈利指標。現在,我們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,從而使我們對公司的增長潛力有所了解。假設其他條件都一樣,與功能不相同的公司相比,具有更高股本回報率和更高利潤保留率的公司通常具有更高的增長率。
A Side By Side comparison of SHENZHEN TOPRAYSOLARLtd's Earnings Growth And 1.2% ROE
深圳 TopraySolarLtd 的收益增長和 1.2% 的投資回報率的並排比較
As you can see, SHENZHEN TOPRAYSOLARLtd's ROE looks pretty weak. Not just that, even compared to the industry average of 6.1%, the company's ROE is entirely unremarkable. As a result, SHENZHEN TOPRAYSOLARLtd's flat earnings over the past five years doesn't come as a surprise given its lower ROE.
如你所見,深圳TopraySolarLtd的投資回報率看起來相當疲軟。不僅如此,即使與6.1%的行業平均水平相比,該公司的投資回報率也完全不起眼。因此,鑑於其投資回報率較低,深圳TopraySolarLtd在過去五年的收益持平也就不足爲奇了。
Next, on comparing with the industry net income growth, we found that the industry grew its earnings by 28% over the last few years.
接下來,與行業淨收入增長相比,我們發現該行業的收益在過去幾年中增長了28%。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231116/0-d0029bd0059947bc440ba0af3c47acaa-0-1d7ec12a511e0c5343e1d24acd3b63ef.png/big)
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. Doing so will help them establish if the stock's future looks promising or ominous. Is SHENZHEN TOPRAYSOLARLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增長是股票估值的重要因素。投資者應努力確定預期的收益增長或下降,無論情況如何,是否已被考慮在內。這樣做將幫助他們確定股票的未來是光明還是不祥。與其他公司相比,深圳TopraySolarLtd的估值是否公平?這三種估值指標可能有助於您做出決定。
Is SHENZHEN TOPRAYSOLARLtd Making Efficient Use Of Its Profits?
深圳 TopraySolarLtd 是否在有效利用其利潤?
Despite having a moderate three-year median payout ratio of 37% (meaning the company retains63% of profits) in the last three-year period, SHENZHEN TOPRAYSOLARLtd's earnings growth was more or les flat. So there might be other factors at play here which could potentially be hampering growth. For example, the business has faced some headwinds.
儘管在過去三年中,深圳TopraySolarLtd的三年中位派息率爲37%(這意味着公司保留了63%的利潤),但其收益增長或多或少持平。因此,這裏可能還有其他因素在起作用,這些因素可能會阻礙增長。例如,該業務面臨一些阻力。
In addition, SHENZHEN TOPRAYSOLARLtd has been paying dividends over a period of eight 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,深圳TopraySolarLtd已經分紅了八年,這表明即使以犧牲業務增長爲代價,維持股息支付對管理層來說更爲重要。
Summary
摘要
On the whole, we feel that the performance shown by SHENZHEN TOPRAYSOLARLtd 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. So far, we've only made a quick discussion around the company's earnings growth. To gain further insights into SHENZHEN TOPRAYSOLARLtd's past profit growth, check out this visualization of past earnings, revenue and cash flows.
總體而言,我們認爲深圳TopraySolarLtd所表現出的表現可以有多種解釋。儘管它似乎保留了大部分利潤,但鑑於投資回報率低,投資者畢竟可能無法從所有這些再投資中受益。低收益增長表明我們的理論是正確的。到目前爲止,我們只對公司的收益增長進行了簡短的討論。要進一步了解深圳TopraySolarLtd過去的利潤增長,請查看過去的收益、收入和現金流的可視化。
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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根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。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,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。