China Machinery Huanyu Certification and Inspection Co., LTD (SZSE:301508) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
China Machinery Huanyu Certification and Inspection Co., LTD (SZSE:301508) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
China Machinery Huanyu Certification and Inspection (SZSE:301508) has had a rough three months with its share price down 22%. However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. In this article, we decided to focus on China Machinery Huanyu Certification and Inspection's ROE.
中国机械环宇认证与检验(SZSE:301508)的股价在过去三个月内一路下跌,跌幅达22%。然而,股价通常受到公司长期财务状况的推动,而本案例中的情况相当令人满意。本文重点关注中国机械环宇认证与检验的ROE。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回报率或roe是一项关键指标,用于评估公司管理层使用公司资本的效率。换句话说,它揭示了公司将股东的投资转化为利润的成功。
How Do You Calculate Return On Equity?
怎样计算ROE?
The formula for return on equity is:
权益回报率的计算公式是:
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 China Machinery Huanyu Certification and Inspection is:
因此,基于上述公式,中国机械环宇认证与检验的ROE为:
7.6% = CN¥152m ÷ CN¥2.0b (Based on the trailing twelve months to March 2024).
7.6% = CN¥15200万 ÷ CN¥20亿(截至2024年3月的过去十二个月)。
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.08.
“回报”是税后收益的金额,在过去的12个月中赚取。 这意味着对于其股东的每1元投资,该公司可以产生0.08元的利润。
Why Is ROE Important For Earnings Growth?
ROE为什么对净利润增长很重要?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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衡量了公司创造利润的效率。现在我们需要评估公司为未来增长“保留”的利润量,然后我们就能了解公司的增长潜力。如果一切都相等,那么ROE和利润保留都更高的公司通常比没有这些特征的公司增长率更高。
A Side By Side comparison of China Machinery Huanyu Certification and Inspection's Earnings Growth And 7.6% ROE
中国机械环宇认证与检验盈利增长和7.6%的ROE的对比。
At first glance, China Machinery Huanyu Certification and Inspection's ROE doesn't look very promising. Yet, a closer study shows that the company's ROE is similar to the industry average of 6.4%. Even so, China Machinery Huanyu Certification and Inspection has shown a fairly decent growth in its net income which grew at a rate of 17%. Taking into consideration that the ROE is not particularly high, we reckon that there could also be other factors at play which could be influencing the company's growth. For instance, the company has a low payout ratio or is being managed efficiently.
乍一看,中国机械环宇认证与检验的ROE似乎并不太可观。然而,仔细研究后发现,该公司的ROE与行业平均水平相当(为6.4%)。尽管如此,中国机械环宇认证与检验的净利润增长的速度相当不错(以17%的速度增长)。考虑到ROE不是特别高,我们认为还可能存在其他影响公司增长的因素,如公司具有低的派息比率或在有效经营。
Next, on comparing with the industry net income growth, we found that China Machinery Huanyu Certification and Inspection'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,与行业营收增长相比,我们发现中国机械环宇认证与检验的增长率与同期行业平均增长率0.6%相比相当高,这非常值得关注。
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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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. If you're wondering about China Machinery Huanyu Certification and Inspection's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
为一家公司评估价值的基础,在很大程度上取决于其盈利增长。投资者应当尝试确定预期的盈利增长或下降,无论是哪种情况,是否已经定价。通过这样做,他们将了解股票是否被投向清澈的蓝色水域,或者是否会等待沼泽般的污水。如果您想了解中国机械环宇认证与检验的估值,请查看它的市盈率与所在行业的比较。
Is China Machinery Huanyu Certification and Inspection Efficiently Re-investing Its Profits?
中国机械环宇认证与检验是否有效地再投资其利润?
China Machinery Huanyu Certification and Inspection has a significant three-year median payout ratio of 53%, meaning that it is left with only 47% to reinvest into its business. This implies that the company has been able to achieve decent earnings growth despite returning most of its profits to shareholders.
中国机械环宇认证与检验拥有显著的三年中位数派息比率为53%,这意味着只有47%的利润可用于再投资其业务。这表明,尽管将大部分利润归还股东,该公司仍能够实现不错的盈利增长。
Summary
总的来说,我们对伟明环保的表现非常满意。具体而言,我们喜欢公司以高回报率再投资了其利润的很大一部分。当然,这导致公司的收益大幅增长。但是,最新的行业分析师预测表明,该公司的收益预计将加速增长。
In total, it does look like China Machinery Huanyu Certification and Inspection has some positive aspects to its business. While no doubt its earnings growth is pretty substantial, we do feel that the reinvestment rate is pretty low, meaning, the earnings growth number could have been significantly higher had the company been retaining more of its profits. So far, we've only made a quick discussion around the company's earnings growth. You can do your own research on China Machinery Huanyu Certification and Inspection and see how it has performed in the past by looking at this FREE detailed graph of past earnings, revenue and cash flows.
总的来说,中国机械环宇认证与检验的业务有一些积极方面。尽管其盈利增长相当可观,但我们觉得再投资率相当低,这意味着,如果该公司保留更多的利润,盈利增长可能会更高。目前,我们只是简单讨论了该公司的盈利增长。您可以自己研究中国机械环宇认证与检验,并查看过去的盈利、收入和现金流的免费详细图表来了解其过去的表现。
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