Are Kaishan Group Co., Ltd.'s (SZSE:300257) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?
Are Kaishan Group Co., Ltd.'s (SZSE:300257) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?
It is hard to get excited after looking at Kaishan Group's (SZSE:300257) recent performance, when its stock has declined 10% over the past month. However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. Specifically, we decided to study Kaishan Group's ROE in this article.
看了開山集團(深圳證券交易所代碼:300257)最近的表現,很難感到興奮,當時其股票在過去一個月中下跌了10%。但是,該公司的基本面看起來相當不錯,長期財務狀況通常與未來的市場價格走勢一致。具體而言,我們決定在本文中研究開山集團的投資回報率。
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. Put another way, it reveals the company's success at turning shareholder investments into profits.
投資回報率或股本回報率是評估公司如何有效地從股東那裏獲得投資回報的有用工具。換句話說,它揭示了公司成功地將股東投資轉化爲利潤。
See our latest analysis for Kaishan Group
查看我們對開山集團的最新分析
How Is ROE Calculated?
ROE 是如何計算的?
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 Kaishan Group is:
因此,根據上述公式,開山集團的投資回報率爲:
6.9% = CN¥430m ÷ CN¥6.2b (Based on the trailing twelve months to September 2023).
6.9% = 4.3億元人民幣 ÷ 62億元人民幣(基於截至2023年9月的過去十二個月)。
The 'return' refers to a company's earnings 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¥0.07 in profit.
“回報” 是指公司去年的收益。另一種看法是,每持有價值1元人民幣的股權,公司就能獲得0.07元人民幣的利潤。
What Has ROE Got To Do With Earnings Growth?
投資回報率與收益增長有什麼關係?
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 everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
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創造指標。我們現在需要評估公司爲未來增長再投資或 “保留” 了多少利潤,這樣我們就可以了解公司的增長潛力。假設其他一切都保持不變,那麼與不一定具有這些特徵的公司相比,投資回報率和利潤保留率越高,公司的增長率就越高。
Kaishan Group's Earnings Growth And 6.9% ROE
開山集團的收益增長和6.9%的投資回報率
When you first look at it, Kaishan Group's ROE doesn't look that attractive. Yet, a closer study shows that the company's ROE is similar to the industry average of 7.5%. Particularly, the exceptional 26% net income growth seen by Kaishan Group over the past five years is pretty remarkable. Considering the moderately low ROE, it is quite possible that there might be some other aspects that are positively influencing the company's earnings growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
當你第一次看時,開山集團的投資回報率看起來並不那麼吸引人。然而,一項更仔細的研究表明,該公司的投資回報率與行業平均水平的7.5%相似。特別是,開山集團在過去五年中實現了26%的驚人淨收入增長,這非常引人注目。考慮到投資回報率適中,很可能還有其他一些方面對公司的收益增長產生積極影響。例如,公司的管理層可能做出了一些良好的戰略決策,或者公司的派息率很低。
Next, on comparing with the industry net income growth, we found that Kaishan Group's growth is quite high when compared to the industry average growth of 11% in the same period, which is great to see.
接下來,與行業淨收入增長相比,我們發現,與同期行業平均增長11%相比,開山集團的增長相當高,這真是太好了。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240122/0-a56b1d6600cf8edfe066f4c00640b786-0-6a50da32f325c7812d96381cfa501f65.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). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Kaishan Group fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增長是對股票進行估值時要考慮的重要指標。對於投資者來說,重要的是要知道市場是否對公司的預期收益增長(或下降)進行了定價。通過這樣做,他們將知道股票是走向清澈的藍色海水,還是沼澤的水域在等着你。與其他公司相比,開山集團的估值是否合理?這3種估值指標可能會幫助您做出決定。
Is Kaishan Group Using Its Retained Earnings Effectively?
開山集團是否在有效使用其留存收益?
Kaishan Group's three-year median payout ratio to shareholders is 17%, which is quite low. This implies that the company is retaining 83% of its profits. So it seems like the management is reinvesting profits heavily to grow its business and this reflects in its earnings growth number.
開山集團的三年股東派息率中位數爲17%,相當低。這意味着該公司保留了83%的利潤。因此,管理層似乎正在將利潤大量再投資以發展業務,這反映在其收益增長數字上。
Moreover, Kaishan Group is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years.
此外,開山集團決心繼續與股東分享利潤,這是我們從其支付股息至少十年的悠久歷史中推斷出來的。
Summary
摘要
In total, it does look like Kaishan Group has some positive aspects to its business. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
總的來說,開山集團的業務看起來確實有一些積極的方面。儘管回報率很低,但由於對業務進行了大量再投資,該公司的收益增長令人印象深刻。既然如此,分析師的最新預測顯示,該公司的收益將繼續擴大。要了解有關公司未來收益增長預測的更多信息,請查看這份關於分析師預測的免費報告,以了解更多信息。
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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。