Is Shenzhen Han's CNC Technology Co., Ltd.'s (SZSE:301200) Stock On A Downtrend As A Result Of Its Poor Financials?
Is Shenzhen Han's CNC Technology Co., Ltd.'s (SZSE:301200) Stock On A Downtrend As A Result Of Its Poor Financials?
With its stock down 17% over the past three months, it is easy to disregard Shenzhen Han's CNC Technology (SZSE:301200). To decide if this trend could continue, we decided to look at its weak fundamentals as they shape the long-term market trends. Particularly, we will be paying attention to Shenzhen Han's CNC Technology's ROE today.
深圳大族數控科技(深交所股票代碼:301200)在過去三個月中下跌了17%,很容易被忽視。爲了決定這種趨勢能否持續下去,我們決定研究其疲軟的基本面,因爲它們塑造了長期市場趨勢。特別是,我們今天將關注深圳大族數控科技的投資回報率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
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,它衡量公司相對於股東權益的盈利能力。
How Do You Calculate Return On Equity?
你如何計算股本回報率?
ROE can be calculated by using the formula:
ROE 可以通過以下公式計算:
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 Han's CNC Technology is:
因此,根據上述公式,深圳大族數控技術的投資回報率爲:
3.8% = CN¥192m ÷ CN¥5.1b (Based on the trailing twelve months to September 2023).
3.8% = 1.92億元人民幣 ÷ 51億元人民幣(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. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.04 in profit.
“回報” 是過去十二個月的稅後收入。這意味着,每持有價值1元人民幣的股權,公司就會產生0.04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?
So far, we've learned that ROE is a measure of a company's profitability. 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. 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,投資回報率是衡量公司盈利能力的指標。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。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。
Shenzhen Han's CNC Technology's Earnings Growth And 3.8% ROE
深圳大族數控科技的收益增長和3.8%的投資回報率
It is quite clear that Shenzhen Han's CNC Technology's ROE is rather low. Even compared to the average industry ROE of 7.6%, the company's ROE is quite dismal. Hence, the flat earnings seen by Shenzhen Han's CNC Technology over the past five years could probably be the result of it having a lower ROE.
很明顯,深圳大族數控科技的投資回報率相當低。即使與7.6%的行業平均投資回報率相比,該公司的投資回報率也相當慘淡。因此,深圳大族數控科技在過去五年中收益持平可能是其投資回報率較低的結果。
We then compared Shenzhen Han's CNC Technology's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 12% in the same 5-year period, which is a bit concerning.
然後,我們將深圳大族數控科技的淨收入增長與該行業進行了比較,發現該公司的增長數字低於同期5年的12%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/7781/20240215/0-e379eb054770b076f9d27d5ad0d99a0c-0-7348704382518429795b8603b23c38ac.png/big)
Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. 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 Shenzhen Han's CNC Technology's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
收益增長是對股票進行估值時要考慮的重要指標。投資者接下來需要確定的是,預期的收益增長或缺乏收益是否已經包含在股價中。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。如果你想知道深圳大族數控科技的估值,可以看看這個衡量其市盈率與行業相比的指標。
Is Shenzhen Han's CNC Technology Using Its Retained Earnings Effectively?
深圳大族數控技術是否有效地使用了其留存收益?
Shenzhen Han's CNC Technology's very high three-year median payout ratio of 108% suggests that the company is paying its shareholders more than what it is earning. This does go some way in explaining the negligible earnings growth seen by Shenzhen Han's CNC Technology. Paying a dividend beyond their means is usually not viable over the long term. That's a huge risk in our books. Our risks dashboard should have the 3 risks we have identified for Shenzhen Han's CNC Technology.
深圳大族數控科技的三年中位數派息率非常高,爲108%,這表明該公司向股東支付的薪水超過了其收入。這確實在某種程度上解釋了深圳大族數控科技所看到的微不足道的收益增長。從長遠來看,超出其承受能力的股息通常是不可行的。在我們的書中,這是一個巨大的風險。我們的風險儀表板應包含我們爲深圳大族數控技術確定的三種風險。
In addition, Shenzhen Han's CNC Technology only recently started paying a dividend so the management must have decided the shareholders prefer dividends over earnings growth.
此外,深圳大族數控科技直到最近才開始派發股息,因此管理層一定已經決定股東更喜歡分紅而不是收益增長。
Conclusion
結論
Overall, we would be extremely cautious before making any decision on Shenzhen Han's CNC Technology. Particularly, its ROE is a huge disappointment, not to mention its lack of proper reinvestment into the business. As a result its earnings growth has also been quite disappointing. Until now, we have only just grazed the surface of the company's past performance by looking at the company's fundamentals. So it may be worth checking this free detailed graph of Shenzhen Han's CNC Technology's past earnings, as well as revenue and cash flows to get a deeper insight into the company's performance.
總體而言,在就深圳大族數控技術做出任何決定之前,我們會非常謹慎。特別是,其投資回報率令人非常失望,更不用說缺乏對該業務的適當再投資了。因此,其收益增長也相當令人失望。到目前爲止,我們只是通過研究公司的基本面來摸清公司過去業績的表面。因此,可能值得查看深圳大族數控科技過去的收益以及收入和現金流的免費詳細圖表,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。