Guangzhou Shiyuan Electronic Technology Company Limited's (SZSE:002841) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Guangzhou Shiyuan Electronic Technology Company Limited's (SZSE:002841) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
It is hard to get excited after looking at Guangzhou Shiyuan Electronic Technology's (SZSE:002841) recent performance, when its stock has declined 17% over the past three months. But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. Specifically, we decided to study Guangzhou Shiyuan Electronic Technology's ROE in this article.
近期视源股份(SZSE:002841)的股价下跌了17%,所以你可能没有太多兴趣。但如果你仔细观察,你会发现它的关键财务指标看起来相当不错,这意味着考虑到市场通常奖励更具长期抗风险能力的基本面,该股票可能具有长期上涨的潜力。具体而言,本篇文章专门研究了视源股份的ROE。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
净资产收益率(roe)是衡量公司经营管理层如何有效利用公司资本的关键指标。换言之,它是一种利润率,衡量由公司股东提供的资本的回报率。
How Is ROE Calculated?
净资产收益率怎么计算?
The formula for ROE is:
roe的公式是:
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 Guangzhou Shiyuan Electronic Technology is:
因此,根据以上公式,视源股份的ROE为:
10% = CN¥1.3b ÷ CN¥13b (Based on the trailing twelve months to March 2024).
10% = CN¥1.3b ÷ CN¥13b(基于截至2024年3月的过去12个月)
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.
“回报”是企业在过去一年内赚取的利润。这意味着,针对每个股东的1元投资,该公司将产生0.10元的利润。
What Is The Relationship Between ROE And Earnings Growth?
既然我们已经确定ROE是一种有效的利润生成标准,用于评估公司未来的盈利能力,我们现在需要评估公司“保留”为未来增长而重新投资的利润多少,这使我们对公司的增长潜力有了一个了解。一般而言,在其他条件相等的情况下,ROE和利润留存高的公司,增长率比没有这些属性的公司要高。
So far, we've learned that ROE is a measure of a company's profitability. 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.
到目前为止,我们已经了解到 ROE 是衡量公司盈利能力的一种指标。现在,我们需要评估公司重新投资或“保留”的利润有多少,以此来衡量公司的成长潜力。其他因素相同的情况下,具有更高的股本回报率和更高的利润保留的公司通常比没有相同特征的公司具有更高的增长率。
A Side By Side comparison of Guangzhou Shiyuan Electronic Technology's Earnings Growth And 10% ROE
对比视源股份的盈利增长和10%的ROE
When you first look at it, Guangzhou Shiyuan Electronic Technology's ROE doesn't look that attractive. However, the fact that the its ROE is quite higher to the industry average of 6.3% doesn't go unnoticed by us. Yet, Guangzhou Shiyuan Electronic Technology has posted measly growth of 4.1% over the past five years. Bear in mind, the company does have a low ROE. It is just that the industry ROE is lower. So that could be one of the factors that are causing earnings growth to stay low.
一开始看,视源股份的ROE看起来不那么吸引人。但是,我们注意到其ROE明显高于6.3%的行业平均水平。但是,视源股份过去五年的增长率仅为4.1%,需要注意的是,该公司ROE较低,只是行业ROE较低,这可能是导致收益增长低的因素之一。
We then compared Guangzhou Shiyuan Electronic Technology's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 6.4% in the same 5-year period, which is a bit concerning.
我们还将视源股份的净利润增长与行业进行了比较,发现在同一5年时期内,该公司的增长率低于6.4%的行业平均水平,稍有点令人担忧。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240607/0-b42310da8aa72cf9b813ea2772bf4865-0-859a8a241cac8a1f5d4caf2d7510ec2b.png/big)
Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. Is 002841 fairly valued? This infographic on the company's intrinsic value has everything you need to know.
盈利增长是股票估值的一个重要因素。投资者需要判断下一个期望的盈利增长是否已经体现到股价中。这将帮助他们确定股票的未来前景是看好还是看衰。002841股票价值内在价值的信息图中,您可以了解更多有关该公司的内在价值。
Is Guangzhou Shiyuan Electronic Technology Making Efficient Use Of Its Profits?
视源股份是否有效利用其利润?
Despite having a normal three-year median payout ratio of 35% (or a retention ratio of 65% over the past three years, Guangzhou Shiyuan Electronic Technology has seen very little growth in earnings as we saw above. So there might be other factors at play here which could potentially be hampering growth. For example, the business has faced some headwinds.
尽管视源股份有着正常的三年中位数派息比率为35%(或过去三年保留比率为65%),但正如上面所述,视源股份的盈利增长非常有限。因此可能存在其他因素在发挥作用,可能会妨碍增长。例如,该业务面临了一些困难。
Moreover, Guangzhou Shiyuan Electronic Technology has been paying dividends for seven years, which is a considerable amount of time, suggesting that management must have perceived that the shareholders prefer dividends over earnings growth.
此外,视源股份已连续七年派发股息,这是相当长的时间,这表明管理层认为股东喜欢派发股息而不是盈利增长。
Summary
总的来说,我们对伟明环保的表现非常满意。具体而言,我们喜欢公司以高回报率再投资了其利润的很大一部分。当然,这导致公司的收益大幅增长。但是,最新的行业分析师预测表明,该公司的收益预计将加速增长。
On the whole, we do feel that Guangzhou Shiyuan Electronic Technology has some positive attributes. However, while the company does have a decent ROE and a high profit retention, its earnings growth number is quite disappointing. This suggests that there might be some external threat to the business, that's hampering growth. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总体而言,我们确实认为视源股份有一些积极的特征。但是,虽然该公司的ROE不错,并且保留了较高的利润,但其盈利增长数值令人失望。这表明可能存在某些外部威胁来阻碍业务的增长。即便如此,最新的分析师预测显示该公司的盈利将继续增长。要了解有关该公司最新预测的分析师的详细信息,请查看该公司的分析师预测可视化。
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