Jiangsu Yoke Technology Co., Ltd.'s (SZSE:002409) Stock Is Going Strong: Is the Market Following Fundamentals?
Jiangsu Yoke Technology Co., Ltd.'s (SZSE:002409) Stock Is Going Strong: Is the Market Following Fundamentals?
Most readers would already be aware that Jiangsu Yoke Technology's (SZSE:002409) stock increased significantly by 18% over the past three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. In this article, we decided to focus on Jiangsu Yoke Technology's ROE.
大多數讀者可能已經意識到,江蘇雅科科技(SZSE:002409)的股票在過去三個月中顯著增長了18%。由於市場通常爲一家公司的長期基本面付出,我們決定研究該公司的關鍵績效指標,以查看它們是否可能影響市場。在這篇文章中,我們決定關注江蘇雅科技的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股東權益回報率ROE是測試公司增值能力和管理股東投資的有效性的指標。更簡單地說,它衡量公司在股東權益中的盈利能力。
How Do You Calculate Return On Equity?
怎樣計算ROE?
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤(從持續經營中獲得)÷ 股東權益
So, based on the above formula, the ROE for Jiangsu Yoke Technology is:
因此,根據上述公式,江蘇雅科技的roe爲:
7.7% = CN¥676m ÷ CN¥8.8b (Based on the trailing twelve months to March 2024).
7.7% = CN¥67600萬 ÷ CN¥88億 (截至2024年3月的過去十二個月)。
The 'return' is the yearly profit. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.08 in profit.
“回報”是每年的利潤。換句話說,對於每一元人民幣的股權,公司能夠賺取0.08元人民幣的利潤。
Why Is ROE Important For Earnings Growth?
ROE對於盈利增長的重要性是什麼?
So far, we've learned that ROE is a measure of a company's profitability. 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.
到目前爲止,我們已經了解到 ROE 是衡量公司盈利能力的指標。根據公司再投資或“保留”的這些利潤的數量以及其有效性,我們可以評估公司的盈利增長潛力。假設其他都相同,ROE 和利潤保留較高的公司通常具有更高的增長率,與那些沒有這些特點的公司相比。
Jiangsu Yoke Technology's Earnings Growth And 7.7% ROE
江蘇雅科技的收益增長和7.7%的roe
On the face of it, Jiangsu Yoke Technology's ROE is not much to talk about. However, the fact that the its ROE is quite higher to the industry average of 6.4% doesn't go unnoticed by us. This certainly adds some context to Jiangsu Yoke Technology's moderate 18% net income growth seen over the past five years. That being said, the company does have a slightly low ROE to begin with, just that it is higher than the industry average. Therefore, the growth in earnings could also be the result of other factors. For example, it is possible that the broader industry is going through a high growth phase, or that the company has a low payout ratio.
乍一看,江蘇雅科技的roe不值一提。但是,它的roe相當高於行業平均水平6.4%,這個事實沒有逃脫我們的注意。這肯定爲江蘇雅科技過去五年中適度的18%淨利潤增長增加了一些背景。但話說回來,該公司的roe開始略低,只是高於行業平均水平。因此,收益增長也可能是其他因素的結果。例如,更廣泛的行業可能正在經歷高增長階段,或者該公司的賠付比率較低。
We then compared Jiangsu Yoke Technology'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 7.9% in the same 5-year period.
然後,我們將江蘇雅科技的淨收益增長與行業進行了比較,很高興地看到該公司的增長數字在同樣的5年期內比行業的增長率7.9%要高。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240706/0-6e967ea7149bac8a59ed2693f1ad37cd-0-e438d931fb960ed5795f2cc9dd563929.png/big)
Earnings growth is an important metric to consider when valuing a stock. 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. If you're wondering about Jiangsu Yoke Technology's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
收益增長是估值股票時要考慮的重要指標。投資者需要下一步確定的是預期的收益增長,或者缺乏它,是否已經納入了股票價格。這樣做將有助於他們確定股票的未來前景是看漲還是看跌。如果你想了解江蘇雅科技的估值,請查看這個衡量估值的市盈率與其行業的比較。
Is Jiangsu Yoke Technology Using Its Retained Earnings Effectively?
江蘇雅科技是否有效利用其留存利潤?
Jiangsu Yoke Technology has a healthy combination of a moderate three-year median payout ratio of 27% (or a retention ratio of 73%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.
江蘇雅科技具有中等的三年中位賠付比率27%(或留存比率73%)和合理的盈利增長,因此該公司一直在有效利用其利潤。
Besides, Jiangsu Yoke Technology has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders.
此外,江蘇雅科技已經連續十年或更長時間派發股息。這表明公司致力於與股東分享利潤。
Conclusion
結論
On the whole, we feel that Jiangsu Yoke Technology's performance has been quite good. Particularly, we like that the company is reinvesting heavily into its business at a moderate rate of return. Unsurprisingly, this has led to an impressive earnings growth. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. 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.
總體而言,我們認爲江蘇雅科技的表現相當不錯。特別是,我們喜歡該公司以適度的回報率大量重新投資業務。不足爲奇的是,這導致了令人印象深刻的盈利增長。儘管如此,最新的分析師預測顯示,該公司將繼續看到其收益的擴張。這些分析師的預期是基於行業的廣泛預期,還是基於公司的基本面?請單擊此處,轉到我們分析師的預測頁面。
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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.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者,發送電子郵件至editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。