Gaona Aero Material Co., Ltd.'s (SZSE:300034) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
Gaona Aero Material Co., Ltd.'s (SZSE:300034) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
It is hard to get excited after looking at Gaona Aero Material's (SZSE:300034) recent performance, when its stock has declined 19% over the past three months. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Particularly, we will be paying attention to Gaona Aero Material's ROE today.
在看了鋼研高納(SZSE:300034)最近三個月的表現,股價下跌了19%之後,很難讓人感到興奮。但是,股價通常會受到公司長期財務表現的推動,而在這種情況下,前景看起來相當有前途。特別是今天我們將關注鋼研高納的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 Is ROE Calculated?
淨資產收益率怎麼計算?
The formula for return on equity is:
權益回報率的計算公式是:
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 Gaona Aero Material is:
因此,根據上述公式,鋼研高納的roe爲:
12% = CN¥471m ÷ CN¥3.9b (Based on the trailing twelve months to March 2024).
12%= CN¥47100萬 ÷ CN¥39億(基於截至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¥0.12 in profit.
“回報”是每年的利潤。另一種思考方式是,該公司能夠在每元1元的淨資產中賺取0.12元的利潤。
Why Is ROE Important For Earnings Growth?
ROE對於盈利增長的重要性是什麼?
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.
因此,我們已經了解到ROE衡量公司如何高效地創造利潤。根據公司重新投資或“保留”的利潤數量以及其有效性,我們隨後能夠評估公司的收益增長潛力。假設其他所有因素均保持不變,則ROE和利潤保留率越高,相對於不一定具備這些特徵的公司,公司的增長率就越高。
Gaona Aero Material's Earnings Growth And 12% ROE
鋼研高納的盈利增長和12%的roe
To begin with, Gaona Aero Material seems to have a respectable ROE. Further, the company's ROE compares quite favorably to the industry average of 5.0%. This certainly adds some context to Gaona Aero Material's decent 20% net income growth seen over the past five years.
首先,鋼研高納的roe似乎還不錯。此外,公司的roe相當優於行業平均水平5.0%。這肯定爲過去5年中看到的20%的淨利潤增長添加了一些背景。
We then compared Gaona Aero Material'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 10% in the same 5-year period.
然後,我們將鋼研高納的淨利潤增長與行業進行比較,很高興地看到公司的增長數字高於同一5年期內行業的增長率10%。
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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. This then helps them determine if the stock is placed for a bright or bleak future. What is 300034 worth today? The intrinsic value infographic in our free research report helps visualize whether 300034 is currently mispriced by the market.
盈利增長是估值股票時需要考慮的重要指標。投資者需要判斷接下來預期的盈利增長是否已經反映在股價之中,這有助於他們判斷是否偏向於未來光明還是黯淡。300034今天值多少錢?我們免費提供的內在價值信息圖爲您展示了300034當前是否被市場錯價。
Is Gaona Aero Material Using Its Retained Earnings Effectively?
鋼研高納是否有效利用其留存盈利?
Gaona Aero Material has a three-year median payout ratio of 27%, which implies that it retains the remaining 73% of its profits. This suggests that its dividend is well covered, and given the decent growth seen by the company, it looks like management is reinvesting its earnings efficiently.
鋼研高納三年的中位數紅利支付比率爲27%,這意味着其保留了其餘73%的利潤。這表明其股息有很好的保障,鑑於公司的良好增長,看起來管理層正在有效地再投資其盈利。
Moreover, Gaona Aero Material 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.
此外,我們可以從鋼研高納至少十年來一直支付股息這一長期歷史中推斷出,公司有決心繼續與股東分享其利潤。
Conclusion
結論
On the whole, we feel that Gaona Aero Material's performance has been quite good. 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. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總體而言,我們認爲鋼研高納的表現相當不錯。具體來說,我們喜歡公司以高回報率再投資其巨額利潤,這當然導致了公司收益的實質性增長。不過,最新的行業分析師預測顯示,該公司的收益預計將加速增長。要了解更多有關該公司的最新分析師預測,請查看此分析師預測的可視化圖表。
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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。