Are Strong Financial Prospects The Force That Is Driving The Momentum In Guizhou Space Appliance Co., LTD's SZSE:002025) Stock?
Are Strong Financial Prospects The Force That Is Driving The Momentum In Guizhou Space Appliance Co., LTD's SZSE:002025) Stock?
Guizhou Space Appliance (SZSE:002025) has had a great run on the share market with its stock up by a significant 14% over the last three months. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes. In this article, we decided to focus on Guizhou Space Appliance's ROE.
航天电器(SZSE:002025)在股票市场上运行良好,股票在过去三个月中上涨了14%。 鉴于公司的出色表现,我们决定更仔细地研究其财务指标,因为一个公司的长期财务状况通常决定了市场结果。在本文中,我们决定专注于航天电器的roe。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股东必须考虑股本回报率或ROE,因为它告诉他们公司如何有效地重新投资他们的资本。 简而言之,ROE显示每美元股东投资所产生的利润。
How To Calculate Return On Equity?
如何计算股东权益报酬率?
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 Guizhou Space Appliance is:
因此,根据上述公式,航天电器的roe为:
12% = CN¥874m ÷ CN¥7.5b (Based on the trailing twelve months to March 2024).
12%= CN ¥87400万 ÷ CN ¥75亿(截至2024年3月的过去十二个月)
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¥0.12 in profit.
“回报”是过去十二个月的利润。这意味着对于每一元股东权益,公司创造了0.12元利润。
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. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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是一种有效的盈利增长衡量标准,用于评估公司未来盈利的能力,根据公司选择重新投资或“保留”其利润的数量,我们可以评估公司未来的盈利能力。假设其他一切不变,roe和利润保留越高,与没有这些特征的公司相比,公司的增长速度就越高。
Guizhou Space Appliance's Earnings Growth And 12% ROE
航天电器的盈利增长和12%的roe
To start with, Guizhou Space Appliance's ROE looks acceptable. Further, the company's ROE compares quite favorably to the industry average of 5.0%. This certainly adds some context to Guizhou Space Appliance's decent 15% net income growth seen over the past five years.
首先,航天电器的roe看起来是可以接受的。此外,公司的roe与行业平均值5.0%相比,相当有优势。这无疑为航天电器过去五年中不错的15%净利润增长情况增加了一些背景。
Next, on comparing with the industry net income growth, we found that Guizhou Space Appliance's growth is quite high when compared to the industry average growth of 10% in the same period, which is great to see.
接下来,比较产业净收入增长率后,我们发现航天电器的增长率与相同时期产业平均增长率为10%相比相当高,这是很好的。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240705/0-34708c2ecd7e1b953d492753df9235e1-0-c7ac8a30b69a78a4664fedf2725502d1.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 Guizhou Space Appliance fairly valued compared to other companies? These 3 valuation measures might help you decide.
赋予公司价值的基础很大程度上取决于其盈利增长。投资者知道市场是否已经定价了公司预期的盈利增长(或下降)是很重要的。这样做,他们会知道股票是前往清晰的蓝色海水还是前往沼泽型水域。与其他公司相比,航天电器是否有公平定价?这3项估值措施可能会帮助您决定。
Is Guizhou Space Appliance Making Efficient Use Of Its Profits?
航天电器是否有效利用其利润?
Guizhou Space Appliance has a low three-year median payout ratio of 18%, meaning that the company retains the remaining 82% of its profits. This suggests that the management is reinvesting most of the profits to grow the business.
航天电器的三年中位数股息支付比率很低,为18%,这意味着公司保留了其余82%的利润。这表明管理层正在重新投资大部分利润以促进业务增长。
Moreover, Guizhou Space Appliance is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Existing analyst estimates suggest that the company's future payout ratio is expected to drop to 11% over the next three years. The fact that the company's ROE is expected to rise to 15% over the same period is explained by the drop in the payout ratio.
此外,航天电器决定继续与股东分享其利润,我们从其连续十年支付股息的历史推断出这一点。现有的分析师估计显示公司未来的股息支付比率预计将在未来三年内降至11%。公司roe预计在同一时期内上升至15%,这是由于股息支付比率的下降所解释的。
Conclusion
结论
Overall, we are quite pleased with Guizhou Space Appliance's performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
总的来说,我们对航天电器的表现相当满意。特别是,我们喜欢公司在高回报率下大量重新投资其业务。毫不奇怪,这导致了令人瞩目的盈利增长。尽管如此,在查看当前的分析师预测时,我们发现公司的盈利预计将获得动量。这些分析师的预测是基于行业的广泛预期还是基于公司的基本面?单击此处进入公司的分析师预测页面。
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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
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