YOOZOO Interactive Co., Ltd. (SZSE:002174) Is Going Strong But Fundamentals Appear To Be Mixed : Is There A Clear Direction For The Stock?
YOOZOO Interactive Co., Ltd. (SZSE:002174) Is Going Strong But Fundamentals Appear To Be Mixed : Is There A Clear Direction For The Stock?
YOOZOO Interactive's (SZSE:002174) stock is up by a considerable 42% over the past three months. But the company's key financial indicators appear to be differing across the board and that makes us question whether or not the company's current share price momentum can be maintained. Particularly, we will be paying attention to YOOZOO Interactive's ROE today.
遊族網絡(SZSE:002174)的股票在過去三個月中大幅上漲了42%。但是公司的關鍵財務指標似乎存在差異,這讓我們開始質疑公司目前的股價動能能否保持。特別是,今天我們將關注遊族網絡的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股東權益回報率(ROE)是檢驗公司增加其價值和管理投資者資金有效性的測試。簡而言之,ROE顯示每個美元的利潤與其股東的投資有關。
How Do You Calculate Return On Equity?
如何計算淨資產收益率?
The formula for ROE is:
roe的公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤(來自持續經營) ÷ 股東權益
So, based on the above formula, the ROE for YOOZOO Interactive is:
所以,根據以上公式,遊族網絡的roe爲:
1.9% = CN¥86m ÷ CN¥4.6b (Based on the trailing twelve months to September 2024).
1.9% = CN¥8600萬 ÷ CN¥46億(基於截至2024年9月的過去十二個月)。
The 'return' is the income the business earned over the last year. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.02 in profit.
「回報」是企業過去一年內賺取的收入。這意味着每1元人民幣的股東權益,公司產生了0.02元的利潤。
Why Is ROE Important For Earnings Growth?
ROE爲什麼對淨利潤增長很重要?
So far, we've learned that ROE is a measure of a company's profitability. 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 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.
到目前爲止,我們已經了解到roe是公司盈利能力的一種度量方法。根據公司再投資或「留存」利潤的程度以及其有效性,我們隨後能夠評估公司的盈利增長潛力。假設其他所有因素相同,則具有更高淨資產收益率和更高利潤保留的公司通常比沒有相同功能的公司增長率更高。
A Side By Side comparison of YOOZOO Interactive's Earnings Growth And 1.9% ROE
A Side By Side comparison of YOOZOO Interactive's Earnings Growth And 1.9% ROE
It is quite clear that YOOZOO Interactive's ROE is rather low. Not just that, even compared to the industry average of 4.4%, the company's ROE is entirely unremarkable. Therefore, it might not be wrong to say that the five year net income decline of 38% seen by YOOZOO Interactive was possibly a result of it having a 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.
It is quite clear that YOOZOO Interactive's ROE is rather low. Not just that, even compared to the industry average of 4.4%, the company's ROE is entirely unremarkable. Therefore, it might not be wrong to say that the five year net income decline of 38% seen by YOOZOO Interactive was possibly a result of it having a 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.
So, as a next step, we compared YOOZOO Interactive's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 4.8% over the last few years.
So, as a next step, we compared YOOZOO Interactive's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 4.8% over the last few years.
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. Is YOOZOO Interactive fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增長是股票估值中的一個重要因素。投資者要知道市場是否已經反映了公司預期的盈利增長(或下滑),從而幫助他們判斷股票是前景光明還是暗淡。與其他公司相比,遊族網絡是否被合理估值?以下三個估值指標可能會幫助您做出決定。
Is YOOZOO Interactive Using Its Retained Earnings Effectively?
遊族網絡是否有效利用留存收益?
Looking at its three-year median payout ratio of 48% (or a retention ratio of 52%) which is pretty normal, YOOZOO Interactive's declining earnings is rather baffling as one would expect to see a fair bit of growth when a company is retaining a good portion of its profits. So there could be some other explanations in that regard. For instance, the company's business may be deteriorating.
觀察遊族網絡三年的中位數支付比率爲48%(保留比率爲52%),這是相當正常的。但是,遊族網絡盈利下降反而令人費解,因爲人們本來期望公司在保留利潤的一大部分時會看到相當多的增長。因此,在這方面可能有一些其他解釋。例如,公司的業務可能正在惡化。
Additionally, YOOZOO Interactive has paid dividends over a period of nine years, which means that the company's management is rather focused on keeping up its dividend payments, regardless of the shrinking earnings.
此外,遊族網絡在九年內持續支付股息,這意味着公司管理層相當注重保持股息支付,而不管盈利萎縮。
Summary
總結
On the whole, we feel that the performance shown by YOOZOO Interactive can be open to many interpretations. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. With that said, we studied the latest analyst forecasts and found that while the company has shrunk its earnings in the past, analysts expect its earnings to grow in the future. 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.
總的來看,我們認爲遊族網絡展現的績效可以有許多業績解讀。儘管看起來它似乎保留了大部分利潤,但考慮到roe較低,投資者可能並沒有從所有再投資中獲益。低收益增長暗示我們的理論是正確的。話雖如此,我們研究了最新的分析師預測,發現雖然該公司過去減少了收益,但分析師預計其未來收益將增長。要了解更多關於公司未來收益增長預測的信息,請查看此免費的業績解讀報告,以獲取更多信息。
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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。