ZhongAn Online P & C Insurance Co., Ltd.'s (HKG:6060) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
ZhongAn Online P & C Insurance Co., Ltd.'s (HKG:6060) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
It is hard to get excited after looking at ZhongAn Online P & C Insurance's (HKG:6060) recent performance, when its stock has declined 13% over the past month. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. In this article, we decided to focus on ZhongAn Online P & C Insurance's ROE.
近一个月中,众安在线财产保险股票下跌了13%,让人很难感到兴奋。但如果您仔细注意,可能会发现它强大的财务状况意味着股票在长期内有可能增值,因为市场通常会奖励那些财务状况良好的公司。在本文中,我们决定重点关注众安在线财产保险的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
净资产收益率(ROE)是衡量公司增值和管理投资者资金有效性的测试。换句话说,它是一种盈利能力比率,用于衡量公司股东提供的资金回报率。
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 ZhongAn Online P & C Insurance is:
因此,根据上述公式,众安在线财产保险的roe为:
19% = CN¥3.8b ÷ CN¥20b (Based on the trailing twelve months to December 2023).
19% = CN¥38亿 ÷ CN¥200亿元 (截至2023年12月的过去十二个月)。
The 'return' is the yearly profit. So, this means that for every HK$1 of its shareholder's investments, the company generates a profit of HK$0.19.
‘回报’是每年的利润。这意味着,对于每1港元的股东投资,公司就会创造0.19港元的利润。
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. 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。
ZhongAn Online P & C Insurance's Earnings Growth And 19% ROE
众安在线财产保险的净利润增长和19%的roe
To begin with, ZhongAn Online P & C Insurance seems to have a respectable ROE. Especially when compared to the industry average of 6.3% the company's ROE looks pretty impressive. This probably laid the ground for ZhongAn Online P & C Insurance's significant 47% net income growth seen over the past five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.
首先,众安在线财产保险似乎拥有一个令人尊敬的roe。尤其是与行业平均roe为6.3%相比,该公司的roe看起来非常令人印象深刻。这可能为众安在线财产保险过去五年内净利润增长了47%奠定了基础。我们认为,也可能有其他因素对公司的盈利增长产生了积极影响。例如-高盈利保留率或有效的管理。
When you consider the fact that the industry earnings have shrunk at a rate of 6.3% in the same 5-year period, the company's net income growth is pretty remarkable.
当您考虑到行业收益在同一5年期间以6.3%的速度下降时,公司的净利润增长就非常显著了。
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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. Is 6060 fairly valued? This infographic on the company's intrinsic value has everything you need to know.
盈利增长是估值股票时需要考虑的重要指标。接下来,投资者需要确定的是预期的盈利增长是否已经被纳入了股票价格。这样做将有助于他们确定股票的未来是有前景还是不妙。6060是否合理定价?这份有关公司内在价值的信息图表包含了您需要知道的一切。
Is ZhongAn Online P & C Insurance Making Efficient Use Of Its Profits?
众安在线财产保险是否高效利用了其利润?
ZhongAn Online P & C Insurance doesn't pay any regular dividends currently which essentially means that it has been reinvesting all of its profits into the business. This definitely contributes to the high earnings growth number that we discussed above.
众安在线财产保险目前不支付常规股息,这基本上意味着它一直在将其所有利润再投资到业务中。这肯定有助于上述高盈利增长数字。
Conclusion
结论
Overall, we are quite pleased with ZhongAn Online P & C Insurance's performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. That being so, according to the latest industry analyst forecasts, the company's earnings are expected to shrink in the future. 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,我们对众安在线财产保险的表现感到相当满意。具体来说,我们喜欢公司以高回报率重新投资了一大部分利润。当然,这导致该公司的利润大幅增长。鉴于行业分析师的最新预测,该公司的盈利预计将在未来收缩。这些分析师的预期是基于行业的普遍预期,还是基于公司的基本面?单击此处,进入我们的分析师预测页面。
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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 (at) simplywallst.com。
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。