Are Strong Financial Prospects The Force That Is Driving The Momentum In Xilinmen Furniture Co.,Ltd's SHSE:603008) Stock?
Are Strong Financial Prospects The Force That Is Driving The Momentum In Xilinmen Furniture Co.,Ltd's SHSE:603008) Stock?
Xilinmen FurnitureLtd's (SHSE:603008) stock is up by a considerable 15% over the past three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. In this article, we decided to focus on Xilinmen FurnitureLtd's ROE.
过去三个月，西林门家具有限公司（SHSE：603008）的股票上涨了15%。鉴于市场长期回报强劲的财务表现，我们想知道此情况是否适用。在本文中，我们决定关注西林门家具有限公司的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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
roe或股东权益回报率是评估公司如何有效地从股东那里获得回报的有用工具。简而言之，它用于评估公司相对于其权益资本的盈利能力。
How To Calculate Return On Equity?
如何计算股东权益报酬率？
ROE can be calculated by using the formula:
净资产收益率可以使用以下公式进行计算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润（从持续经营中获得）÷ 股东权益
So, based on the above formula, the ROE for Xilinmen FurnitureLtd is:
因此，基于以上公式，西林门家具有限公司的roe为：
11% = CN¥461m ÷ CN¥4.0b (Based on the trailing twelve months to March 2024).
11% = CN¥461m ÷ CN¥4.0b（基于最近十二个月，截至2024年3月）。
The 'return' is the profit 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¥0.11.
“回报”是指过去十二个月的利润。因此，这意味着对于其股东每一元投资，公司可以创造CN¥0.11的利润。
What Has ROE Got To Do With Earnings Growth?
ROE与盈利增长有什么关系？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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 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.
因此，我们已经了解到roe是衡量公司利润率的有效方法。根据公司重新投资或“保留”这些收益的程度以及其有效程度，我们就能评估公司的盈利增长潜力。假设其他条件相同，权益回报率和利润保留越高的公司通常比没有相同特点的公司具有更快的增长率。
Xilinmen FurnitureLtd's Earnings Growth And 11% ROE
西林门家具有限公司的盈利增长和11%的roe
At first glance, Xilinmen FurnitureLtd seems to have a decent ROE. Further, the company's ROE is similar to the industry average of 9.8%. This certainly adds some context to Xilinmen FurnitureLtd's exceptional 29% net income growth seen over the past five years. However, there could also be other drivers behind this growth. For instance, the company has a low payout ratio or is being managed efficiently.
乍一看，西林门家具有限公司的roe似乎还不错。此外，该公司的roe与行业平均水平9.8%相似。这无疑为西林门家具有限公司过去五年的非凡29%的净利润增长增添了一些背景。但是，此增长背后也可能有其他驱动因素。例如，该公司的派息比率较低或者管理效率较高。
As a next step, we compared Xilinmen FurnitureLtd's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 6.1%.
作为下一步，我们将西林门家具有限公司的净利润增长与行业进行了比较，令人欣慰的是，我们发现该公司的增长高于平均行业增长6.1%。
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 Xilinmen FurnitureLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
评估公司价值的基础，在很大程度上与其盈利增长挂钩。投资者下一步需要确定的是，预期的盈利增长或缺乏盈利增长是否已经融入股价中。通过这样做，他们将了解股票是进入清澈的蓝色水域还是等待泥泞的水域。与其他公司相比，西林门家具有限公司的估值是否合理？这三项估值指标可能有所帮助。
Is Xilinmen FurnitureLtd Making Efficient Use Of Its Profits?
西林门家具有限公司是否有效地利用其利润？
Xilinmen FurnitureLtd's ' three-year median payout ratio is on the lower side at 19% implying that it is retaining a higher percentage (81%) of its profits. So it seems like the management is reinvesting profits heavily to grow its business and this reflects in its earnings growth number.
西林门家具有限公司的三年中值派息比率较低，为19%，表明其保留了更高的利润百分比（81%）。因此，管理层似乎正在大量重新投资以促进业务增长，这也表现在其盈利增长数字中。
Besides, Xilinmen FurnitureLtd has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders.
另外，西林门家具有限公司的股息已经连续十年以上派发。这表明该公司致力于与股东分享利润。
Conclusion
结论
Overall, we are quite pleased with Xilinmen FurnitureLtd's performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总的来说，我们对西林门家具有限公司的表现非常满意。具体来说，我们喜欢公司以高回报率重投利润这一事实。当然，这导致公司的盈利增长大幅增长。虽然如此，对最新分析师预测的研究显示，该公司未来的盈利增长有所放缓。要了解有关该公司最新分析师预测的更多信息，请查看此分析师预测可视化。
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