Weak Financial Prospects Seem To Be Dragging Down Shenzhen Cereals Holdings Co.,Ltd (SZSE:000019) Stock
Weak Financial Prospects Seem To Be Dragging Down Shenzhen Cereals Holdings Co.,Ltd (SZSE:000019) Stock
It is hard to get excited after looking at Shenzhen Cereals HoldingsLtd's (SZSE:000019) recent performance, when its stock has declined 13% over the past three months. To decide if this trend could continue, we decided to look at its weak fundamentals as they shape the long-term market trends. Specifically, we decided to study Shenzhen Cereals HoldingsLtd's ROE in this article.
看了深圳穀物控股有限公司(SZSE:000019)最近的表現,很難感到興奮,當時其股票在過去三個月中下跌了13%。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。具體而言,我們決定在本文中研究深圳穀物控股有限公司的投資回報率。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. 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股東需要考慮的重要因素,因爲它可以告訴他們資本再投資的有效性。換句話說,它揭示了公司成功地將股東投資轉化爲利潤。
How Do You Calculate Return On Equity?
你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 Shenzhen Cereals HoldingsLtd is:
因此,根據上述公式,深圳穀物控股有限公司的投資回報率爲:
7.8% = CN¥374m ÷ CN¥4.8b (Based on the trailing twelve months to September 2023).
7.8% = 3.74億元人民幣 ÷ 48億元人民幣(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。
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?
So far, we've learned that ROE is a measure of a company's profitability. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. 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.
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。然後,我們能夠評估公司的收益增長潛力,具體取決於公司對這些利潤進行再投資或 “保留” 了多少及其有效性。假設其他一切保持不變,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。
A Side By Side comparison of Shenzhen Cereals HoldingsLtd's Earnings Growth And 7.8% ROE
深圳穀物控股有限公司的收益增長和7.8%的投資回報率的並排比較
At first glance, Shenzhen Cereals HoldingsLtd's ROE doesn't look very promising. Yet, a closer study shows that the company's ROE is similar to the industry average of 8.5%. Having said that, Shenzhen Cereals HoldingsLtd's net income growth over the past five years is more or less flat. 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.
乍一看,深圳穀物控股有限公司的投資回報率看起來並不十分樂觀。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8.5%相似。話雖如此,深圳穀物控股有限公司在過去五年中的淨收入增長基本持平。請記住,該公司的投資回報率不是很高。因此,這爲公司盈利的持平增長提供了一些背景信息。
We then compared Shenzhen Cereals HoldingsLtd's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 7.3% in the same 5-year period, which is a bit concerning.
然後,我們將深圳穀物控股有限公司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7.3%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/7781/20240307/0-037ae9f66697b944d850c169a371b9a1-0-734390b4771e52644ce579e407f1a928.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. If you're wondering about Shenzhen Cereals HoldingsLtd's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
收益增長是股票估值的重要因素。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。如果你想知道深圳穀物控股有限公司的估值,可以看看這個衡量其市盈率與行業相比的指標。
Is Shenzhen Cereals HoldingsLtd Using Its Retained Earnings Effectively?
深圳穀物控股有限公司是否在有效使用其留存收益?
The high three-year median payout ratio of 67% (meaning, the company retains only 33% of profits) for Shenzhen Cereals HoldingsLtd suggests that the company's earnings growth was miniscule as a result of paying out a majority of its earnings.
深圳穀物控股有限公司三年來最高的派息率中位數爲67%(這意味着該公司僅保留利潤的33%),這表明由於支付了大部分收益,該公司的收益增長微乎其微。
In addition, Shenzhen Cereals HoldingsLtd has been paying dividends over a period of at least ten 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,深圳穀物控股有限公司至少十年來一直在派發股息,這表明即使以業務增長爲代價,繼續支付股息對管理層來說也更爲重要。
Conclusion
結論
On the whole, Shenzhen Cereals HoldingsLtd's performance is quite a big let-down. The company has seen a lack of earnings growth as a result of retaining very little profits and whatever little it does retain, is being reinvested at a very low rate of return. So far, we've only made a quick discussion around the company's earnings growth. To gain further insights into Shenzhen Cereals HoldingsLtd's past profit growth, check out this visualization of past earnings, revenue and cash flows.
總體而言,深圳穀物控股有限公司的表現相當令人失望。由於保留的利潤很少,該公司一直缺乏收益增長,無論保留的利潤很少,都以非常低的回報率進行再投資。到目前爲止,我們僅就公司的收益增長進行了簡短的討論。要進一步了解深圳穀物控股有限公司過去的利潤增長,請查看這份過去收益、收入和現金流的可視化圖表。
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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。