Could The Market Be Wrong About Sailvan Times Co., Ltd. (SZSE:301381) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About Sailvan Times Co., Ltd. (SZSE:301381) Given Its Attractive Financial Prospects?
Sailvan Times (SZSE:301381) has had a rough three months with its share price down 25%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. In this article, we decided to focus on Sailvan Times' ROE.
Sailvan Times(深圳證券交易所代碼:301381)經歷了艱難的三個月,其股價下跌了25%。但是,如果你密切關注,你可能會發現,鑑於市場通常會獎勵財務狀況良好的公司,其強勁的財務狀況可能意味着該股的長期價值可能會增加。在這篇文章中,我們決定重點關注Sailvan Times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. 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對公司增值和管理投資者資金的有效性的考驗。換句話說,它揭示了公司成功地將股東投資轉化爲利潤。
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 Sailvan Times is:
因此,根據上述公式,Sailvan Times的投資回報率爲:
10% = CN¥251m ÷ CN¥2.4b (Based on the trailing twelve months to September 2023).
10% = 2.51億元人民幣 ÷ 24億元人民幣(基於截至2023年9月的過去十二個月)。
The 'return' is the income the business earned over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.10.
“回報” 是企業在過去一年中獲得的收入。因此,這意味着公司每投資1元人民幣,公司就會產生0.10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?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
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。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。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 Sailvan Times' Earnings Growth And 10% ROE
Sailvan Times的收益增長和10%的投資回報率的並排比較
On the face of it, Sailvan Times' ROE is not much to talk about. However, the fact that the company's ROE is higher than the average industry ROE of 5.3%, is definitely interesting. This probably goes some way in explaining Sailvan Times' moderate 16% growth over the past five years amongst other factors. Bear in mind, the company does have a moderately low ROE. It is just that the industry ROE is lower. So there might well be other reasons for the earnings to grow. E.g the company has a low payout ratio or could belong to a high growth industry.
從表面上看,Sailvan Times的投資回報率沒什麼好談的。但是,該公司的投資回報率高於5.3%的行業平均投資回報率,這一事實絕對很有趣。除其他因素外,這可能在某種程度上解釋了Sailvan Times在過去五年中16%的溫和增長。請記住,該公司的投資回報率確實適中。只是行業的投資回報率較低。因此,收益增長很可能還有其他原因。例如,該公司的派息率較低,或者可能屬於高增長行業。
Given that the industry shrunk its earnings at a rate of 6.7% over the last few years, the net income growth of the company is quite impressive.
鑑於該行業在過去幾年中以6.7%的速度縮減了收益,該公司的淨收入增長令人印象深刻。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. Has the market priced in the future outlook for 301381? You can find out in our latest intrinsic value infographic research report.
爲公司附加價值的基礎在很大程度上與其收益增長息息相關。無論如何,投資者應設法確定預期的收益增長或下降是否已計入其中。這樣做將幫助他們確定股票的未來是樂觀還是不祥的。市場對301381的未來展望進行了定價嗎?你可以在我們最新的內在價值信息圖研究報告中找到答案。
Is Sailvan Times Efficiently Re-investing Its Profits?
Sailvan Times 是否有效地將其利潤再投資?
Sailvan Times doesn't pay any dividend currently which essentially means that it has been reinvesting all of its profits into the business. This definitely contributes to the decent earnings growth number that we discussed above.
Sailvan Times目前不支付任何股息,這本質上意味着它一直在將所有利潤再投資於該業務。這無疑有助於實現我們上面討論的可觀的收入增長數字。
Summary
摘要
On the whole, we feel that Sailvan Times' performance has been quite good. Specifically, we like that it has been reinvesting a high portion of its profits at a moderate rate of return, resulting in earnings expansion. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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,我們覺得Sailvan Times的表現相當不錯。具體而言,我們喜歡它一直在以適度的回報率再投資其很大一部分利潤,從而實現了收益的擴張。話雖如此,從分析師目前的估計來看,我們發現該公司的收益有望增強。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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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。