Sichuan Jiuzhou Electronic Co., Ltd.'s (SZSE:000801) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Sichuan Jiuzhou Electronic Co., Ltd.'s (SZSE:000801) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Sichuan Jiuzhou Electronic (SZSE:000801) has had a rough three months with its share price down 25%. 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. In this article, we decided to focus on Sichuan Jiuzhou Electronic's ROE.
四川九州电子(SZSE:000801)过去的3个月表现不佳,股价下跌25%。但如果您仔细留意,可能会发现其关键财务指标相当不错,这可能意味着股票在长期内有潜在上涨的可能,因为市场通常会奖励那些更具有弹性的长期基本面。在本文中,我们决定关注四川九州电子的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股东权益回报率(ROE)是检验公司增加其价值和管理投资者资金有效性的测试。简而言之,ROE显示每个美元的利润与其股东的投资有关。
How Do You Calculate Return On Equity?
怎样计算ROE?
The formula for return on equity is:
权益回报率的计算公式是:
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 Sichuan Jiuzhou Electronic is:
那么,根据上述公式,四川九州电子的roe是:
7.4% = CN¥243m ÷ CN¥3.3b (Based on the trailing twelve months to March 2024).
7.4%=CN¥2.43亿÷CN¥33亿(基于截至2024年3月的过去12个月)。
The 'return' is the profit over the last twelve months. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.07 in profit.
“回报”是过去12个月的利润。这意味着,对于每1元股东权益价值,公司创造了0.07元的利润。
What Has ROE Got To Do With Earnings Growth?
ROE与盈利增长有什么关系?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
我们已经确定ROE作为公司未来收益的有效利润生成度量。根据公司“保留”多少利润以及它如何有效地保留利润,我们能够评估公司的收益增长潜力。假设其他所有条件相同,具有更高股东权益回报率和更高利润保留的公司通常是与没有相同特征的公司相比增长速度更高的公司。
A Side By Side comparison of Sichuan Jiuzhou Electronic's Earnings Growth And 7.4% ROE
四川九州电子的收益增长和7.4%的roe对比
On the face of it, Sichuan Jiuzhou Electronic's ROE is not much to talk about. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 9.8% either. In spite of this, Sichuan Jiuzhou Electronic was able to grow its net income considerably, at a rate of 27% in the last five years. We reckon that there could be other factors at play here. For instance, the company has a low payout ratio or is being managed efficiently.
看起来,四川九州电子的roe并不值得大书特书。进一步的研究显示,公司的roe也不如行业平均水平,行业平均roe为9.8%。尽管如此,在过去的五年里,四川九州电子的净收入增长相当可观,达到了27%的速度。我们认为这里可能有其他因素在起作用,例如公司的股息支付比率较低或经营效率较高。
We then compared Sichuan Jiuzhou Electronic's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 6.1% in the same 5-year period.
然后,我们将四川九州电子的净收入增长与行业进行了比较,我们很高兴地看到,与同期行业增长率6.1%相比,公司的净收入增长率更高。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240628/0-61624c3e798b111a0a8b4b98d76a999a-0-73cb0adf1f84cda622bfd0897e300bd9.png/big)
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Sichuan Jiuzhou Electronic fairly valued compared to other companies? These 3 valuation measures might help you decide.
附着价值于公司的基础,在很大程度上与其收益增长有关。投资者了解市场是否已经定价了公司预期的收益增长(或下降)非常重要。这样做,他们就会知道股票是走向清澈的蓝水还是等待沼泽的沼泽地带。与其他公司相比,四川九州电子的价值是否合理?这3个估值指标可能会帮助您做出决策。
Is Sichuan Jiuzhou Electronic Using Its Retained Earnings Effectively?
四川九州电子是否有效利用其留存收益?
The three-year median payout ratio for Sichuan Jiuzhou Electronic is 36%, which is moderately low. The company is retaining the remaining 64%. This suggests that its dividend is well covered, and given the high growth we discussed above, it looks like Sichuan Jiuzhou Electronic is reinvesting its earnings efficiently.
四川九州电子的三年中位数股息支付比率为36%,属于中等水平,公司保留了剩余的64%。这表明其股息分红得到了很好的覆盖,并且考虑到上面我们讨论的高增长,看起来四川九州电子正在有效地重新投资其利润。
Besides, Sichuan Jiuzhou Electronic has been paying dividends over a period of nine years. This shows that the company is committed to sharing profits with its shareholders.
此外,四川九州电子连续9年派发股息。这表明公司致力于与股东分享利润。
Conclusion
结论
Overall, we feel that Sichuan Jiuzhou Electronic certainly does have some positive factors to consider. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high earnings growth. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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,我们认为四川九州电子肯定有一些积极因素值得考虑。尽管回报率较低,但公司将大部分利润再投入企业中,无疑促进了其高收益增长。话虽如此,从当前的分析师预测来看,我们发现公司的收益预计会越来越高。更多关于该公司的最新分析师预测,请查看此可视化分析师预测。
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Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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