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Declining Stock and Decent Financials: Is The Market Wrong About Genimous Technology Co., Ltd. (SZSE:000676)?

Declining Stock and Decent Financials: Is The Market Wrong About Genimous Technology Co., Ltd. (SZSE:000676)?

下跌的股票和良好的财务表现:市场是否对智度股份股份有限公司(SZSE:000676)判断错误?
Simply Wall St ·  06/27 22:40

Genimous Technology (SZSE:000676) has had a rough three months with its share price down 16%. 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 Genimous Technology's ROE in this article.

智度股份(SZSE:000676)的股价在过去三个月中下降了16%。但是,如果您仔细观察,就会发现它的关键财务指标看起来相当不错,这可能意味着,考虑到市场通常奖励更具有韧性的长期基本面,股票在长期内有潜力上涨。具体而言,在本文中,我们决定研究智度股份的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 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 Genimous Technology is:

因此,根据上述公式,智度股份的roe为:

9.8% = CN¥393m ÷ CN¥4.0b (Based on the trailing twelve months to March 2024).

9.8% = CN ¥ 393m ÷ CN¥4.0b(基于截至2024年3月的过去十二个月)。

The 'return' refers to a company's earnings over the last year. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.10 in profit.

“回报”是指公司在过去一年的盈利。这意味着对于每1元股东权益价值,公司产生了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。

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 everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

我们已经确定,roe是一个有效的利润生成衡量标准,用于评估公司未来的盈利能力。根据公司再投资或“保留”这些利润的比例以及这样做的有效性,我们能够评估公司的盈利增长潜力。假设其他所有因素保持不变,roe和利润保留的比例越高,相对于没有这些特征的公司,公司的增长率就越高。

Genimous Technology's Earnings Growth And 9.8% ROE

智度股份的盈利增长和9.8%的roe

When you first look at it, Genimous Technology's ROE doesn't look that attractive. However, the fact that the its ROE is quite higher to the industry average of 4.1% doesn't go unnoticed by us. But seeing Genimous Technology's five year net income decline of 7.0% over the past five years, we might rethink that. Remember, the company's ROE is a bit low to begin with, just that it is higher than the industry average. Hence, this goes some way in explaining the shrinking earnings.

一开始看,智度股份的roe并不那么具有吸引力。然而,它的roe相当高于行业平均水平的4.1%,这一点我们没有忽略。但是,考虑到智度股份过去五年的净利润下降了7.0%,我们可能会重新考虑。请记住,该公司的roe起点较低,只是高于行业平均水平。因此,这在某种程度上可以解释萎缩的利润。

As a next step, we compared Genimous Technology's performance with the industry and found thatGenimous Technology's performance is depressing even when compared with the industry, which has shrunk its earnings at a rate of 3.2% in the same period, which is a slower than the company.

接下来,我们将智度股份的表现与行业进行了比较,发现即使与下跌了3.2%的行业相比,智度股份的表现也是令人沮丧的,这是比公司慢的速度。

past-earnings-growth
SZSE:000676 Past Earnings Growth June 28th 2024
SZSE:000676过去的盈利增长2024年6月28日

Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. Is Genimous Technology fairly valued compared to other companies? These 3 valuation measures might help you decide.

盈利增长是考虑估值的重要指标。投资者应该尝试确定预期的盈利增长或下降,无论是哪种情况,是否已定价。这样做将有助于他们确定股票的未来看起来是有前途还是不祥。智度股份相对于其他公司是否公平定价?这3个估值指标可能会帮助您决定。

Is Genimous Technology Using Its Retained Earnings Effectively?

智度股份是否有效利用其保留的利润?

Genimous Technology doesn't pay any regular dividends, meaning that potentially all of its profits are being reinvested in the business, which doesn't explain why the company's earnings have shrunk if it is retaining all of its profits. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.

智度股份不支付任何定期股息,这意味着可能全部利润都被再投资于业务中,这并不能解释为什么公司的盈利下降,如果它保留了所有利润。看起来可能有其他原因来解释在这方面的不足。例如,业务可能正在衰退。

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。

Overall, we feel that Genimous Technology certainly does have some positive factors to consider. 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.

总体而言,我们认为智度股份确实有一些要考虑的积极因素。但是,尽管该公司具有相当高的roe和高利润保留率,其盈利增长数字仍然相当令人失望。这表明可能存在一些外部威胁,这些威胁正在阻碍增长。

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.

对本文有反馈?关于内容有所顾虑?直接和我们联系。或者,发送电子邮件至editorial-team (at) simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

对本文有反馈?关于内容有所顾虑?直接和我们联系。或者发送电子邮件至editorial-team@simplywallst.com。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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