Is Anshan Hifichem Co., Ltd.'s (SZSE:300758) Stock Price Struggling As A Result Of Its Mixed Financials?
Is Anshan Hifichem Co., Ltd.'s (SZSE:300758) Stock Price Struggling As A Result Of Its Mixed Financials?
It is hard to get excited after looking at Anshan Hifichem's (SZSE:300758) recent performance, when its stock has declined 8.3% over the past week. We, however decided to study the company's financials to determine if they have got anything to do with the price decline. Fundamentals usually dictate market outcomes so it makes sense to study the company's financials. Particularly, we will be paying attention to Anshan Hifichem's ROE today.
安山七彩化学(SZSE:300758)过去一周股价下跌8.3%,让人难以感到兴奋。然而,我们决定研究该公司的财务状况,以确定它与股价下跌是否有关。基本面通常决定市场结果,因此研究公司的财务状况是有意义的。特别是今天我们将关注安山七彩化学的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. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
对于股东来说,股东回报率(ROE)是一个重要的考虑因素,因为它告诉股东他们的资本被有效地再投资了多少。换句话说,它是一个衡量公司股东提供的资本回报率的盈利能力比率。
How Is ROE Calculated?
净资产收益率怎么计算?
ROE can be calculated by using the formula:
净资产收益率可以使用以下公式进行计算:
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 Anshan Hifichem is:
因此,根据上述公式,安山七彩化学的ROE为:
2.9% = CN¥52m ÷ CN¥1.8b (Based on the trailing twelve months to March 2024).
2.9% = CN¥5200万元 ÷ CN¥18亿(截至2024年3月的过去十二个月)。
The 'return' is the income the business earned over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.03.
“回报”是企业在过去一年内赚取的收入。这意味着公司每投资股东1元人民币,就可以赚取0.03元人民币的利润。
Why Is ROE Important For Earnings Growth?
ROE对于盈利增长的重要性是什么?
So far, we've learned that ROE is a measure of a company's profitability. 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是衡量公司盈利能力的一种指标。根据公司选择重新投资或'保留'多少利润,我们就能够评估公司未来生成利润的能力。假设其他条件相同,那些具有更高股本回报率和更高利润留存的公司通常比没有这些特征的公司有更高的增长率。
Anshan Hifichem's Earnings Growth And 2.9% ROE
安山七彩化学的盈利增长和2.9%的ROE
As you can see, Anshan Hifichem's ROE looks pretty weak. Not just that, even compared to the industry average of 6.4%, the company's ROE is entirely unremarkable. For this reason, Anshan Hifichem's five year net income decline of 29% is not surprising given its lower ROE. However, there could also be other factors causing the earnings to decline. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.
可以看出,安山七彩化学的ROE似乎相当低。不仅如此,甚至与行业平均水平的6.4%相比,该公司的ROE也毫不起眼。因此,考虑到委退率较低,安山七彩化学的五年净利润下降29%也就不足为奇了。然而,也可能有其他因素导致盈利下降。例如,公司资本配置不佳,或者公司的派息比率非常高。
However, when we compared Anshan Hifichem's growth with the industry we found that while the company's earnings have been shrinking, the industry has seen an earnings growth of 7.7% in the same period. This is quite worrisome.
然而,当我们将安山七彩化学的增长与行业相比较时,我们发现,虽然该公司的盈利一直在缩水,但与此同时,该行业的盈利增长率为7.7%。这是相当令人担忧的。
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The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Anshan Hifichem's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
评估公司价值的基础在很大程度上与其盈利增长有关。投资者了解市场是否已经定价了公司预期的盈利增长(或下降)是很重要的。这将有助于他们判断该股的未来是否看好或不利。如果你想了解安山七彩化学的估值,请查看它的市盈率与行业相比的这个表格。
Is Anshan Hifichem Efficiently Re-investing Its Profits?
安山七彩化学是否有效地重新投资其利润?
While the company did payout a portion of its dividend in the past, it currently doesn't pay a regular dividend. This implies that potentially all of its profits are being reinvested in the business.
虽然该公司过去曾分红一部分,但目前不支付常规股息。这意味着其所有的利润都被重新投资于业务中。
Conclusion
结论
In total, we're a bit ambivalent about Anshan Hifichem's performance. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. Having said that, looking at current analyst estimates, we found that the company's earnings growth rate is expected to see a huge improvement. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
总的来说,我们对安山七彩化学的表现持有一定的不确定性。虽然该公司利润留存率较高,但其收益率低可能正在阻碍其盈利增长。尽管如此,根据目前的分析师预测,我们发现该公司的盈利增长率有望大幅提高。如果您想了解有关该公司未来盈利增长预测的更多信息,请查看这份免费的分析师预测报告。
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Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。