Is INESA Intelligent Tech Inc.'s (SHSE:600602) Stock Price Struggling As A Result Of Its Mixed Financials?
Is INESA Intelligent Tech Inc.'s (SHSE:600602) Stock Price Struggling As A Result Of Its Mixed Financials?
INESA Intelligent Tech (SHSE:600602) has had a rough three months with its share price down 12%. It is possible that the markets have ignored the company's differing financials and decided to lean-in to the negative sentiment. Stock prices are usually driven by a company's financial performance over the long term, and therefore we decided to pay more attention to the company's financial performance. Specifically, we decided to study INESA Intelligent Tech's ROE in this article.
INESA Intelligent Tech(SHSE: 600602)的股價在過去的三個月裏下跌了12%。可能市場忽略了該公司的不同財務狀況而轉向負面情緒。股票價格通常受到公司長期的業務表現推動,因此我們決定更加關注公司的財務業績。具體而言,我們決定在本文中研究INESA Intelligent Tech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. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE(淨資產收益率)是股東需考慮的一個重要因素,因爲它告訴他們資本被有效地再投資的效果如何。換句話說,它揭示了公司將股東的投資轉化爲利潤的成功程度。
How To Calculate Return On Equity?
如何計算股東權益報酬率?
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 INESA Intelligent Tech is:
因此,基於上述公式,INESA Intelligent Tech的ROE爲:
5.2% = CN¥247m ÷ CN¥4.8b (Based on the trailing twelve months to March 2024).
5.2%=CN¥24700萬÷CN¥48億(基於截至2024年3月的過去12個月)
The 'return' is the yearly profit. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.05 in profit.
“回報”是年度利潤。這意味着對於每CN¥1的股東權益價值,公司創造了CN¥0.05的利潤。
What Is The Relationship Between ROE And Earnings Growth?
ROE與盈利增長之間的關係是什麼?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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.
到目前爲止,我們已經了解到roe衡量公司生成利潤的效率。根據公司再投資或“保留”的利潤比例及其有效性,我們能夠評估公司的收益增長潛力。在其他一切保持不變的情況下,roe和利潤保留率越高,公司的增長率就越高,相比於那些不一定擁有這些特性的公司。
INESA Intelligent Tech's Earnings Growth And 5.2% ROE
INESA Intelligent Tech的盈利增長和5.2%的ROE
On the face of it, INESA Intelligent Tech's ROE is not much to talk about. However, given that the company's ROE is similar to the average industry ROE of 5.2%, we may spare it some thought. But then again, INESA Intelligent Tech's five year net income shrunk at a rate of 5.8%. Bear in mind, the company does have a slightly low ROE. Hence, this goes some way in explaining the shrinking earnings.
表面上看,INESA Intelligent Tech的ROE並沒有什麼值得一提的。不過,考慮到該公司的ROE與行業平均ROE相似,我們可能需要考慮一下。但是需要注意的是,INESA Intelligent Tech的五年淨利潤以5.8%的速度縮水。需要牢記的是,該公司的ROE稍微有些低。因此,這在一定程度上可以解釋萎縮的收益。
That being said, we compared INESA Intelligent Tech's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 3.7% in the same 5-year period.
儘管如此,我們將INESA Intelligent Tech的表現與行業進行了比較,並發現,在相同的五年期間內,隨着公司收益下降,行業的收益增長了3.7%,這讓我們感到擔憂。
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Earnings growth is a huge factor in stock valuation. 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 INESA Intelligent Tech is trading on a high P/E or a low P/E, relative to its industry.
盈利增長是股票估值的一個重要因素。投資者應該努力確定預期的盈利增長或下降(無論哪種情況),無論是市場是否定價。這樣做將有助於他們確定股票的未來前景是光明還是險惡。預期收益增長的一個很好的指標是市盈率(P / E比),它根據其盈利前景確定市場願意爲一隻股票付出的價格。因此,您可能需要檢查INESA Intelligent Tech是否相對於其行業以高P / E還是低P / E進行交易。
Is INESA Intelligent Tech Using Its Retained Earnings Effectively?
INESA Intelligent Tech是否有效地利用了其留存收益?
Despite having a normal three-year median payout ratio of 30% (where it is retaining 70% of its profits), INESA Intelligent Tech has seen a decline in earnings as we saw above. So there could be some other explanations in that regard. For instance, the company's business may be deteriorating.
儘管具有30%的正常三年中位數分紅比率(其中將其利潤的70%保留),然而因爲INESA Intelligent Tech的收益率如上所述出現下降,因此可能有其他說明。例如,該公司的業務可能正在惡化。
Additionally, INESA Intelligent Tech has paid dividends over a period of eight years, which means that the company's management is rather focused on keeping up its dividend payments, regardless of the shrinking earnings. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to rise to 71% over the next three years. However, the company's ROE is not expected to change by much despite the higher expected payout ratio.
此外,INESA Intelligent Tech已經支付分紅已達八年之久,這意味着該公司的管理層非常專注於保持其分紅付款,而不考慮收益的萎縮。在研究最新的分析師共識數據時,我們發現該公司未來的分紅比率預計將在未來三年內上升至71%。但是,儘管分紅預期比較高,公司的ROE預計不會有太大變化。
Summary
總的來說,我們對偉明環保的表現非常滿意。具體而言,我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然,這導致公司的收益大幅增長。但是,最新的行業分析師預測表明,該公司的收益預計將加速增長。
In total, we're a bit ambivalent about INESA Intelligent Tech's performance. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. 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,我們對INESA Intelligent Tech的表現持有一點矛盾的態度。雖然該公司有高的再投資率,但低的ROE表明,所有的再投資並沒有爲其投資者帶來任何好處,而且,它還對收益增長產生了負面影響。儘管如此,最新的行業分析師預測顯示,分析師預期看到公司的收益增長率出現了巨大的改善。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?點擊此處進入我們的分析師預測頁面以了解更多信息。
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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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@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
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。