GuiZhouYongJi Printing Co.,Ltd's (SHSE:603058) On An Uptrend But Financial Prospects Look Pretty Weak: Is The Stock Overpriced?
GuiZhouYongJi Printing Co.,Ltd's (SHSE:603058) On An Uptrend But Financial Prospects Look Pretty Weak: Is The Stock Overpriced?
GuiZhouYongJi PrintingLtd's (SHSE:603058) stock is up by a considerable 30% over the past three months. However, in this article, we decided to focus on its weak fundamentals, as long-term financial performance of a business is what ultimately dictates market outcomes. Specifically, we decided to study GuiZhouYongJi PrintingLtd's ROE in this article.
貴州永吉印刷股份有限公司(SHSE:603058)的股價在過去三個月裏上漲了相當可觀的30%。然而,在本文中,我們決定關注其薄弱的基本面,因爲一家企業的長期財務表現最終決定了市場結果。具體而言,我們決定在本文中研究貴州永吉印刷股份有限公司的roe。
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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
roe指股東權益回報率,是一種有用的工具,用於評估公司如何有效地從股東獲得的投資中產生回報。簡單來說,這衡量了一家公司相對於股東權益的盈利能力。
How Is ROE Calculated?
淨資產收益率怎麼計算?
ROE can be calculated by using the formula:
淨資產收益率可以使用以下公式進行計算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤(從持續經營中獲得)÷ 股東權益
So, based on the above formula, the ROE for GuiZhouYongJi PrintingLtd is:
因此,根據上述公式,貴州永吉印刷股份有限公司的roe爲:
9.3% = CN¥115m ÷ CN¥1.2b (Based on the trailing twelve months to March 2024).
9.3% = CN¥11500萬 ÷ CN¥12億(截至2024年3月的過去十二個月)。
The 'return' is the income the business earned 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¥0.09 in profit.
“回報”是企業在過去一年中獲得的收入。 另一種思考方法是,對於每1元人民幣的股權,公司能夠賺取0.09元人民幣的利潤。
What Has ROE Got To Do With Earnings Growth?
ROE與盈利增長有什麼關係?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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 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.
到目前爲止,我們已經了解到ROE衡量公司如何高效地生成利潤。現在我們需要評估公司以後的增長潛力,即公司重新投資或“保留”的利潤。其他條件相同的情況下,同時具有較高的股權回報率和較高的利潤保留的公司通常是相對於不具備相同特點的公司而言增長率更高的公司。
GuiZhouYongJi PrintingLtd's Earnings Growth And 9.3% ROE
貴州永吉印刷股份有限公司的盈利增長和9.3%的roe
When you first look at it, GuiZhouYongJi PrintingLtd's ROE doesn't look that attractive. However, the fact that the its ROE is quite higher to the industry average of 5.6% doesn't go unnoticed by us. But seeing GuiZhouYongJi PrintingLtd's five year net income decline of 12% over the past five years, we might rethink that. Bear in mind, the company does have a slightly low ROE. It is just that the industry ROE is lower. Therefore, the decline in earnings could also be the result of this.
當你第一次看到它時,貴州永吉印刷股份有限公司的roe看起來並不那麼有吸引力。然而,事實上它的roe比行業平均水平的5.6%要高得多,這並沒有逃過我們的觀察。但是看到貴州永吉印刷股份有限公司過去五年淨收入下降了12%,我們可能會重新考慮。請記住,該公司的roe略低。只是行業roe更低。因此,收益下降也可能是這個原因的結果。
As a next step, we compared GuiZhouYongJi PrintingLtd's performance with the industry and found thatGuiZhouYongJi PrintingLtd's performance is depressing even when compared with the industry, which has shrunk its earnings at a rate of 0.2% in the same period, which is a slower than the company.
作爲下一步,我們將貴州永吉印刷股份有限公司的表現與行業進行了比較,並發現即使與同期收益率下降了0.2%的行業相比,貴州永吉印刷股份有限公司的表現也令人沮喪。這比公司的下降速度還要慢。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240530/0-537e257a9ddf9a781e14309429e8d9fb-0-2721b87b32d99fff19db0cb646323794.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. This then helps them determine if the stock is placed for a bright or bleak future. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if GuiZhouYongJi PrintingLtd is trading on a high P/E or a low P/E, relative to its industry.
收益增長是評估股票價值時需要考慮的重要指標。投資者需要接下來判斷預期的收益增長或缺乏收益增長是否已經整合到股票價格中。這有助於他們判斷股票未來是光明還是暗淡。其中一個好的指標是預期收益增長。它通過決定市場願意爲基於其收益前景而支付的股票價格來確定。因此,你可能希望查看貴州永吉印刷股份有限公司的市盈率是高於行業平均水平還是低於行業平均水平。
Is GuiZhouYongJi PrintingLtd Using Its Retained Earnings Effectively?
貴州永吉印刷公司是否有效利用其留存收益?
GuiZhouYongJi PrintingLtd has a high three-year median payout ratio of 92% (that is, it is retaining 8.0% of its profits). This suggests that the company is paying most of its profits as dividends to its shareholders. This goes some way in explaining why its earnings have been shrinking. With only a little being reinvested into the business, earnings growth would obviously be low or non-existent. Our risks dashboard should have the 4 risks we have identified for GuiZhouYongJi PrintingLtd.
貴州永吉印刷公司的三年中值支付比率爲92%(即將其利潤的大部分作爲股息支付給股東)。這表明公司將大部分利潤支付給股東作爲股息,這在一定程度上可以解釋爲什麼公司的盈利正在縮水。由於公司的投資非常有限,因此盈利增長顯然會很低或不存在。我們的風險指示面板應該有我們爲貴州永吉印刷公司確定的四個風險。
Moreover, GuiZhouYongJi PrintingLtd has been paying dividends for seven years, which is a considerable amount of time, suggesting that management must have perceived that the shareholders prefer consistent dividends even though earnings have been shrinking.
此外,貴州永吉印刷公司已經支付股息七年,這是一段相當長的時間,表明管理層認爲股東們更喜歡穩定的股息,即使盈利在縮水。
Summary
總的來說,我們對偉明環保的表現非常滿意。具體而言,我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然,這導致公司的收益大幅增長。但是,最新的行業分析師預測表明,該公司的收益預計將加速增長。
Overall, we would be extremely cautious before making any decision on GuiZhouYongJi PrintingLtd. Its earnings growth particularly is not much to talk about even though it does have a pretty respectable ROE. The lack of growth can be blamed on its poor earnings retention. As discussed earlier, the company is retaining hardly any of its profits. So far, we've only made a quick discussion around the company's earnings growth. You can do your own research on GuiZhouYongJi PrintingLtd and see how it has performed in the past by looking at this FREE detailed graph of past earnings, revenue and cash flows.
總的來說,在做出任何關於貴州永吉印刷股份有限公司的決定之前,我們應該非常謹慎。儘管貴州永吉印刷公司的roe相當可觀,但其盈利增長尤其不值得一提。缺乏增長可以歸咎於其收益保留不佳。如前所述,該公司幾乎不留存其利潤。到目前爲止,我們只是簡單地討論了公司的盈利增長。您可以通過查看過去收益、收入和現金流的詳細圖表自行研究貴州永吉印刷公司的表現。
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。