Is Greentown Service Group Co. Ltd.'s (HKG:2869) Recent Stock Performance Tethered To Its Strong Fundamentals?
Is Greentown Service Group Co. Ltd.'s (HKG:2869) Recent Stock Performance Tethered To Its Strong Fundamentals?
Most readers would already be aware that Greentown Service Group's (HKG:2869) stock increased significantly by 12% over the past three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Particularly, we will be paying attention to Greentown Service Group's ROE today.
大多数读者可能已经意识到绿城服务集团(HKG:2869)的股票在过去的三个月里大涨了12%。 长期来看,市场奖励坚实的财务表现,我们想知道在这种情况下是否是这样。 特别是,我们将关注绿城服务集团的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 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 Greentown Service Group is:
所以,根据以上公式,绿城服务集团的ROE为:
8.7% = CN¥716m ÷ CN¥8.2b (Based on the trailing twelve months to December 2023).
8.7%= CN¥71600万 ÷ CN¥82亿(基于截至2023年12月的过去12个月)。
The 'return' is the profit over the last twelve months. That means that for every HK$1 worth of shareholders' equity, the company generated HK$0.09 in profit.
‘回报’是过去12个月的利润。 这意味着每港元股东权益的公司创造了HK$0.09的利润。
Why Is ROE Important For Earnings Growth?
ROE对于盈利增长的重要性是什么?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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 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.
到目前为止,我们已经了解到roe衡量公司利润产生的效率。根据公司选择再投资或“保留”的利润比例,我们能够评估公司未来产生利润的能力。其他条件相同的情况下,roe和利润保留率均较高的公司通常比没有这些特征的公司成长速度更快。
Greentown Service Group's Earnings Growth And 8.7% ROE
绿城服务集团的盈利增长和8.7%的ROE
On the face of it, Greentown Service Group's ROE is not much to talk about. However, the fact that the its ROE is quite higher to the industry average of 4.5% doesn't go unnoticed by us. Yet, Greentown Service Group has posted measly growth of 4.5% over the past five years. Bear in mind, the company does have a low ROE. It is just that the industry ROE is lower. So that could be one of the factors that are causing earnings growth to stay low.
表面上看,绿城服务集团的ROE并不值得讨论。 但是,它的ROE相当高于4.5%的行业平均水平,这是我们注意到的。 但是,绿城服务集团在过去五年中的增长惨淡,公司ROE较低,而行业ROE更低,这可能是导致盈利增长低的因素之一。
Next, on comparing with the industry net income growth, we found that Greentown Service Group's growth is quite high when compared to the industry average growth of 0.6% in the same period, which is great to see.
接下来,与行业净收入增长进行比较,我们发现绿城服务集团的增长相当高,与同期行业平均增长率0.6%相比。
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The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Greentown Service Group is trading on a high P/E or a low P/E, relative to its industry.
对于一家公司附加价值的基础在很大程度上与其盈利增长有关。 投资者应该试图确定预期的盈利增长或下降(无论哪种情况),是否已经被定价。 如此做将有助于他们确定股票的未来前景是否看好或不利。 预期收益增长的一个良好指标是市盈率,其根据其盈利前景确定市场愿意为股票支付的价格。 因此,您可能希望检查绿城服务集团是否在高P/E或低P/E下交易,相对于其行业。
Is Greentown Service Group Using Its Retained Earnings Effectively?
绿城服务集团是否有效利用了其留存收益?
While Greentown Service Group has a decent three-year median payout ratio of 49% (or a retention ratio of 51%), it has seen very little growth in earnings. So there might be other factors at play here which could potentially be hampering growth. For example, the business has faced some headwinds.
虽然绿城服务集团有一个相当不错的三年中位数赔付比率为49%(或留存比率为51%),但其盈利增长却很少。 因此,在这里可能有其他因素可能会阻碍增长。 例如,该业务面临一些阻力。
Moreover, Greentown Service Group has been paying dividends for seven years, which is a considerable amount of time, suggesting that management must have perceived that the shareholders prefer dividends over earnings growth. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to rise to 59% over the next three years. Still, forecasts suggest that Greentown Service Group's future ROE will rise to 12% even though the the company's payout ratio is expected to rise. We presume that there could some other characteristics of the business that could be driving the anticipated growth in the company's ROE.
此外,绿城服务集团已经支付分红七年,这是相当长的时间,表明管理层必须认为股东更喜欢股利而不是盈利增长。 经过研究最新的分析师共识数据,我们发现该公司未来的赔付比率预计将在未来三年内升至59%。 尽管预测表明,绿城服务集团未来的ROE将升至12%,但公司的赔付比率预计将升高,我们推测该公司可能有其他特性正在推动ROE的预期增长。
Conclusion
结论
In total, we are pretty happy with Greentown Service Group's performance. In particular, it's great to see that the company has seen significant growth in its earnings backed by a respectable ROE and a high reinvestment rate. 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.
总的来说,我们对绿城服务集团的表现感到非常满意。 特别是看到公司在高不错的ROE和高再投资率的支持下实现了显着的收益增长。 话虽如此,最新的分析师预测显示,该公司将继续看到其收益的扩张。 这些分析师的预期是否基于行业的广泛预期或公司的基本面? 单击此处以进入我们的分析师预测页面。
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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
对本文有反馈?对内容感到担忧?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。