Weihai Guangtai Airport Equipment Co.,Ltd (SZSE:002111) Stock Is Going Strong But Fundamentals Look Uncertain: What Lies Ahead ?
Weihai Guangtai Airport Equipment Co.,Ltd (SZSE:002111) Stock Is Going Strong But Fundamentals Look Uncertain: What Lies Ahead ?
Weihai Guangtai Airport EquipmentLtd's (SZSE:002111) stock is up by a considerable 31% over the past month. However, we decided to pay attention to the company's fundamentals which don't appear to give a clear sign about the company's financial health. Particularly, we will be paying attention to Weihai Guangtai Airport EquipmentLtd's ROE today.
威海光泰机场设备有限公司(深圳证券交易所:002111)的股票在过去一个月中大幅上涨了31%。但是,我们决定关注公司的基本面,这些基本面似乎并未给公司的财务状况提供明确的信号。特别是,我们今天将关注威海光泰机场设备有限公司的投资回报率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
股本回报率或投资回报率是对公司增值和管理投资者资金的有效性的考验。换句话说,它是衡量公司股东提供的资本回报率的盈利比率。
How To Calculate Return On Equity?
如何计算股本回报率?
ROE can be calculated by using the formula:
ROE 可以通过以下公式计算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润(来自持续经营业务)÷ 股东权益
So, based on the above formula, the ROE for Weihai Guangtai Airport EquipmentLtd is:
因此,根据上述公式,威海光泰机场设备有限公司的投资回报率为:
7.4% = CN¥224m ÷ CN¥3.0b (Based on the trailing twelve months to September 2023).
7.4% = 2.24亿元人民币 ÷ 30亿元人民币(基于截至2023年9月的过去十二个月)。
The 'return' refers to a company's earnings over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.07.
“回报” 是指公司去年的收益。因此,这意味着公司每投资1元人民币,公司就会产生0.07元人民币的利润。
Why Is ROE Important For Earnings Growth?
为什么投资回报率对收益增长很重要?
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.
到目前为止,我们已经了解到,投资回报率衡量的是公司创造利润的效率。根据公司选择将多少利润进行再投资或 “保留”,我们便能够评估公司未来创造利润的能力。一般而言,在其他条件相同的情况下,股本回报率和利润留存率高的公司的增长率要高于不具有这些属性的公司。
Weihai Guangtai Airport EquipmentLtd's Earnings Growth And 7.4% ROE
威海光泰机场设备有限公司的收益增长和7.4%的投资回报率
At first glance, Weihai Guangtai Airport EquipmentLtd's ROE doesn't look very promising. However, its ROE is similar to the industry average of 7.5%, so we won't completely dismiss the company. But then again, Weihai Guangtai Airport EquipmentLtd's five year net income shrunk at a rate of 12%. Remember, the company's ROE is a bit low to begin with. Hence, this goes some way in explaining the shrinking earnings.
乍一看,威海光泰机场设备有限公司的投资回报率看起来并不十分乐观。但是,其投资回报率与行业平均水平的7.5%相似,因此我们不会完全解散该公司。但话又说回来,威海光泰机场设备有限公司的五年净收入以12%的速度萎缩。请记住,公司的投资回报率一开始有点低。因此,这在某种程度上解释了收益的萎缩。
So, as a next step, we compared Weihai Guangtai Airport EquipmentLtd's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 11% over the last few years.
因此,下一步,我们将威海光泰机场设备有限公司的业绩与行业进行了比较,失望地发现,尽管该公司一直在缩减收益,但该行业在过去几年中一直以11%的速度增长收益。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240309/0-900a283476f1b33a55bef14ac17b3abe-0-aec9b1df4bd0cd9970fbc42a32cd0c95.png/big)
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. Is Weihai Guangtai Airport EquipmentLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
为公司附加价值的基础在很大程度上与其收益增长息息相关。投资者接下来需要确定的是,预期的收益增长或缺乏收益是否已经包含在股价中。通过这样做,他们将知道股票是走向清澈的蓝色海水还是沼泽水域在等着呢。与其他公司相比,威海光泰机场设备有限公司的估值是否合理?这3种估值指标可能会帮助您做出决定。
Is Weihai Guangtai Airport EquipmentLtd Making Efficient Use Of Its Profits?
威海光泰机场设备有限公司是否在有效利用其利润?
In spite of a normal three-year median payout ratio of 40% (that is, a retention ratio of 60%), the fact that Weihai Guangtai Airport EquipmentLtd's earnings have shrunk is quite puzzling. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
尽管正常的三年派息率中位数为40%(即留存率为60%),但威海光泰机场设备有限公司的收益萎缩这一事实还是相当令人费解的。看来可能还有其他一些原因可以解释这方面的不足。例如,业务可能会下滑。
Moreover, Weihai Guangtai Airport EquipmentLtd has been paying dividends for at least ten years or more suggesting that management must have perceived that the shareholders prefer dividends over earnings growth.
此外,威海光泰机场设备有限公司派发股息已有至少十年或更长时间,这表明管理层一定已经意识到股东更喜欢分红而不是收益增长。
Summary
摘要
In total, we're a bit ambivalent about Weihai Guangtai Airport EquipmentLtd's performance. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. To know the 2 risks we have identified for Weihai Guangtai Airport EquipmentLtd visit our risks dashboard for free.
总的来说,我们对威海光泰机场设备有限公司的表现有点矛盾。尽管该公司的利润保留率确实很高,但其低回报率可能会阻碍其收益增长。总而言之,我们将谨慎对待这家公司,其中一种方法是研究该业务的风险状况。要了解我们为威海光泰机场设备有限公司确定的两种风险,请免费访问我们的风险控制面板。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。