Zhejiang Meishuo Electric Technology Co.,Ltd's (SZSE:301295) On An Uptrend But Financial Prospects Look Pretty Weak: Is The Stock Overpriced?
Zhejiang Meishuo Electric Technology Co.,Ltd's (SZSE:301295) On An Uptrend But Financial Prospects Look Pretty Weak: Is The Stock Overpriced?
Zhejiang Meishuo Electric TechnologyLtd (SZSE:301295) has had a great run on the share market with its stock up by a significant 28% over the last week. 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. Particularly, we will be paying attention to Zhejiang Meishuo Electric TechnologyLtd's ROE today.
浙江美硕电子科技股份有限公司（SZSE：301295）在股票市场上运行良好，股价在过去一周内显著上涨了28％。然而，在本文中，我们决定关注其弱势基本面，因为业务的长期财务表现最终决定了市场结果。 特别是，我们将关注浙江美硕电子科技今天的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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回报率或ROE是一项用于评估公司管理层如何利用公司资本的效率的关键指标。简而言之，它用于评估公司相对于其股本资本的盈利能力。
How Do You Calculate Return On Equity?
怎样计算ROE?
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 Zhejiang Meishuo Electric TechnologyLtd is:
因此，根据上述公式，浙江美硕电子科技的roe为：
4.1% = CN¥40m ÷ CN¥975m (Based on the trailing twelve months to March 2024).
4.1％=CN¥40m÷CN¥975m（根据截至2024年3月的过去十二个月）.
The 'return' refers to a company's earnings over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.04.
“收益率”是指公司在过去一年中的收益。这意味着对于股东每投资1元人民币，公司就能创造0.04元人民币的利润。
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。
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. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
到目前为止，我们已经了解了ROE衡量公司产生利润的效率。现在，我们需要评估公司为未来增长“留存”的利润或“保留”多少，这就让我们对公司的增长潜力有了一个想法。一般来说，其他条件相同的情况下，ROE和利润保留较高的公司比没有这些属性的公司具有更高的增长率。
Zhejiang Meishuo Electric TechnologyLtd's Earnings Growth And 4.1% ROE
浙江美硕电子科技的盈利增长和4.1％的roe
As you can see, Zhejiang Meishuo Electric TechnologyLtd's ROE looks pretty weak. Even when compared to the industry average of 6.9%, the ROE figure is pretty disappointing. Thus, the low net income growth of 3.0% seen by Zhejiang Meishuo Electric TechnologyLtd over the past five years could probably be the result of it having a lower ROE.
正如您所看到的，浙江美硕电子科技的roe看起来相当弱。即使与行业平均水平6.9％相比，roe指标也相当令人失望。因此，浙江美硕电子科技过去五年净收入增长率只有3.0％，可能是其roe较低的结果。
Next, on comparing with the industry net income growth, we found that Zhejiang Meishuo Electric TechnologyLtd's reported growth was lower than the industry growth of 12% over the last few years, which is not something we like to see.
接下来，与行业净收入增长进行比较，我们发现浙江美硕电子科技过去几年的报告增长低于行业的12％，这并不是我们想看到的。
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is Zhejiang Meishuo Electric TechnologyLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增长是股票估值的重要因素。投资者了解市场是否已经定价了公司预期的盈利增长（或下降）非常重要。这样做将有助于他们确定股票的未来前景是有希望还是可怕的。浙江美硕电子科技股份有限公司相对于其他公司是否公平价值？这3个估值指标可能会帮助你决定。
Is Zhejiang Meishuo Electric TechnologyLtd Efficiently Re-investing Its Profits?
浙江美硕电子科技能有效地再投资其利润吗？
The high three-year median payout ratio of 78% (that is, the company retains only 22% of its income) over the past three years for Zhejiang Meishuo Electric TechnologyLtd suggests that the company's earnings growth was lower as a result of paying out a majority of its earnings.
浙江美硕电子科技过去三年的高三年中位数支付比率为78％（也就是说，该公司仅留下22％的收入），这表明该公司的盈利增长受到其支付大部分收益的影响而降低。
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。
In total, we would have a hard think before deciding on any investment action concerning Zhejiang Meishuo Electric TechnologyLtd. Because the company is not reinvesting much into the business, and given the low ROE, it's not surprising to see the lack or absence of growth in its earnings. In brief, we think the company is risky and investors should think twice before making any final judgement on this company. Our risks dashboard would have the 3 risks we have identified for Zhejiang Meishuo Electric TechnologyLtd.
总的来说，在决定是否进行任何有关浙江美硕电子科技的投资行动之前，我们必须进行深思熟虑。因为公司没有很多再投资到业务中，而且考虑到roe较低，看到其收益缺乏或缺乏增长并不令人意外。简而言之，我们认为该公司存在风险，投资者在对该公司作出任何最终判断之前应该三思而行。我们的风险仪表板将有3个风险，我们已经为浙江美硕电子科技股份有限公司确定了这些风险。
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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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