Jiangxi Sunshine Dairy Co., Ltd. (SZSE:001318) Stock Is Going Strong But Fundamentals Look Uncertain: What Lies Ahead ?
Jiangxi Sunshine Dairy Co., Ltd. (SZSE:001318) Stock Is Going Strong But Fundamentals Look Uncertain: What Lies Ahead ?
Most readers would already be aware that Jiangxi Sunshine Dairy's (SZSE:001318) stock increased significantly by 11% over the past month. But the company's key financial indicators appear to be differing across the board and that makes us question whether or not the company's current share price momentum can be maintained. Particularly, we will be paying attention to Jiangxi Sunshine Dairy's ROE today.
大多數讀者已經意識到,江西陽光乳業(SZSE:001318)的股票在過去一個月中大幅上漲了11%。但是該公司的關鍵財務指標似乎各不相同,這使我們質疑該公司目前的股價勢頭能否保持下去。特別是,我們今天將關注江西陽光乳業的投資回報率。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回報率或投資回報率是用於評估公司管理層利用公司資本效率的關鍵指標。換句話說,它揭示了公司成功地將股東投資轉化爲利潤。
Check out our latest analysis for Jiangxi Sunshine Dairy
查看我們對江西陽光乳業的最新分析
How To Calculate Return On Equity?
如何計算股本回報率?
The formula for ROE is:
ROE 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 Jiangxi Sunshine Dairy is:
因此,根據上述公式,江西陽光乳業的投資回報率爲:
8.3% = CN¥110m ÷ CN¥1.3b (Based on the trailing twelve months to September 2023).
8.3% = 1.1億元人民幣 ¥13億元人民幣(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¥0.08.
“回報” 是過去十二個月的稅後收入。因此,這意味着公司每投資1元人民幣,公司就會產生0.08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?
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. 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.
到目前爲止,我們已經了解到,投資回報率衡量的是公司創造利潤的效率。根據公司選擇將多少利潤進行再投資或 “保留”,我們便能夠評估公司未來創造利潤的能力。一般而言,在其他條件相同的情況下,股本回報率和利潤留存率高的公司的增長率要高於不具有這些屬性的公司。
Jiangxi Sunshine Dairy's Earnings Growth And 8.3% ROE
江西陽光乳業的收益增長和8.3%的投資回報率
On the face of it, Jiangxi Sunshine Dairy'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 8.5%. However, Jiangxi Sunshine Dairy has seen a flattish net income growth over the past five years, which is not saying much. 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.
從表面上看,江西陽光乳業的投資回報率沒什麼好說的。然而,一項更仔細的研究表明,該公司的投資回報率與8.5%的行業平均水平相似。但是,在過去五年中,江西陽光乳業的淨收入增長持平,這並不算什麼。請記住,該公司的投資回報率不是很高。因此,這爲該公司持平的收益增長提供了一些背景信息。
We then compared Jiangxi Sunshine Dairy's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 7.2% in the same 5-year period, which is a bit concerning.
然後,我們將江西陽光乳業的淨收入增長與行業進行了比較,發現該公司的增長數字低於同期7.2%的行業平均增長率,這有點令人擔憂。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231212/0-b16d3fd51fb3ffbf9de7008fd07f6feb-0-997435665c4b719f8e924c1031ad1907.png/big)
Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. If you're wondering about Jiangxi Sunshine Dairy's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
收益增長是估值股票時要考慮的重要指標。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。通過這樣做,他們將知道這隻股票是進入清澈的藍色海水還是沼澤水域在等着你。如果你想知道江西陽光乳業的估值,可以看看這個衡量其市盈率與行業比較的指標。
Is Jiangxi Sunshine Dairy Making Efficient Use Of Its Profits?
江西陽光乳業是否在有效利用其利潤?
Despite having a moderate three-year median payout ratio of 36% (meaning the company retains64% of profits) in the last three-year period, Jiangxi Sunshine Dairy'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,江西陽光乳業的三年中位派息率爲36%(這意味着該公司保留了64%的利潤),但其收益增長基本持平。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。
Only recently, Jiangxi Sunshine Dairy started paying a dividend. This means that the management might have concluded that its shareholders prefer dividends over earnings growth.
就在最近,江西陽光乳業才開始分紅。這意味着管理層可能已經得出結論,其股東更喜歡分紅而不是收益增長。
Conclusion
結論
In total, we're a bit ambivalent about Jiangxi Sunshine Dairy's performance. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. Up till now, we've only made a short study of the company's growth data. So it may be worth checking this free detailed graph of Jiangxi Sunshine Dairy's past earnings, as well as revenue and cash flows to get a deeper insight into the company's performance.
總的來說,我們對江西陽光乳業的表現有些矛盾。儘管該公司的利潤保留率確實很高,但其低迴報率可能阻礙了其收益增長。到目前爲止,我們只對公司的增長數據進行了簡短的研究。因此,可能值得查看這張免費的江西陽光乳業過去收益以及收入和現金流的詳細圖表,以更深入地了解該公司的業績。
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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。