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Has S.F. Holding Co., Ltd.'s (SZSE:002352) Impressive Stock Performance Got Anything to Do With Its Fundamentals?

Has S.F. Holding Co., Ltd.'s (SZSE:002352) Impressive Stock Performance Got Anything to Do With Its Fundamentals?

S.F. Holding Co., Ltd.(深交所代碼:002352)令人印象深刻的股票表現與其基本面有關係嗎?
Simply Wall St ·  2024/12/09 10:58

S.F. Holding (SZSE:002352) has had a great run on the share market with its stock up by a significant 12% over the last three months. As most would know, fundamentals are what usually guide market price movements over the long-term, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. In this article, we decided to focus on S.F. Holding's ROE.

順豐控股(SZSE:002352)在股票市場上表現良好,其股票在過去三個月中大幅上漲了12%。正如大多數人所知道的那樣,基本面通常是指導市場價格長期走勢的因素,因此我們今天決定研究公司的關鍵財務指標,以確定它們在近期的價格走勢中是否可以發揮任何作用。在本文中,我們決定重點關注順豐控股的投資回報率。

Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.

股本回報率或投資回報率是用於評估公司管理層利用公司資本效率的關鍵指標。簡而言之,它衡量公司相對於股東權益的盈利能力。

How To Calculate Return On Equity?

如何計算股本回報率?

ROE can be calculated by using the formula:

ROE 可以通過使用以下公式計算:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

股本回報率 = 淨利潤(來自持續經營)÷ 股東權益

So, based on the above formula, the ROE for S.F. Holding is:

因此,根據上述公式,順豐控股的投資回報率爲:

9.5% = CN¥9.6b ÷ CN¥101b (Based on the trailing twelve months to September 2024).

9.5% = 96元人民幣 ÷ 1010元人民幣(基於截至2024年9月的過去十二個月)。

The 'return' refers to a company's earnings over the last year. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.09 in profit.

「回報」 是指公司去年的收益。另一種思考方式是,公司每擁有價值1元人民幣的股權,就能獲得0.09元的利潤。

What Is The Relationship Between ROE And Earnings Growth?

投資回報率與收益增長之間有什麼關係?

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. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.

到目前爲止,我們已經了解到,投資回報率衡量的是公司創造利潤的效率。然後,我們能夠評估公司的收益增長潛力,具體取決於公司對這些利潤進行再投資或 「保留」 了多少及其有效性。一般而言,在其他條件相同的情況下,股本回報率和利潤留存率高的公司的增長率要高於不具有這些屬性的公司。

S.F. Holding's Earnings Growth And 9.5% ROE

順豐控股的收益增長和9.5%的投資回報率

At first glance, S.F. Holding's ROE doesn't look very promising. However, given that the company's ROE is similar to the average industry ROE of 8.3%, we may spare it some thought. On the other hand, S.F. Holding reported a moderate 10% net income growth over the past five years. Considering the moderately low ROE, it is quite possible that there might be some other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.

乍一看,順豐控股的投資回報率看起來並不十分樂觀。但是,鑑於該公司的投資回報率與8.3%的平均行業投資回報率相似,我們可以不加思索。另一方面,順豐控股報告稱,在過去五年中,淨收入溫和增長了10%。考慮到投資回報率適中,很可能還有其他一些方面對公司的收益增長產生積極影響。例如——高收益留存率或實行高效管理。

We then compared S.F. Holding'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 7.8% in the same 5-year period.

然後,我們將順豐控股的淨收入增長與該行業進行了比較,我們很高興地看到,與該行業相比,順豐控股的淨收入增長率更高,該行業在同期的增長率爲7.8%。

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SZSE:002352 Past Earnings Growth December 9th 2024
SZSE: 002352 過去的收益增長 2024 年 12 月 9 日

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Has the market priced in the future outlook for 002352? You can find out in our latest intrinsic value infographic research report.

爲公司附加價值的基礎在很大程度上與其收益增長息息相關。投資者接下來需要確定的是,預期的收益增長或缺乏收益是否已經包含在股價中。通過這樣做,他們將知道股票是走向清澈的藍色海水還是沼澤水域在等着呢。市場對002352的未來展望進行了定價嗎?你可以在我們最新的內在價值信息圖研究報告中找到答案。

Is S.F. Holding Using Its Retained Earnings Effectively?

順豐控股有效使用其留存收益嗎?

S.F. Holding has a low three-year median payout ratio of 19%, meaning that the company retains the remaining 81% of its profits. This suggests that the management is reinvesting most of the profits to grow the business.

順豐控股的三年派息率中位數很低,爲19%,這意味着該公司保留了剩餘的81%的利潤。這表明管理層正在將大部分利潤再投資以發展業務。

Moreover, S.F. Holding is determined to keep sharing its profits with shareholders which we infer from its long history of eight years of paying a dividend. Looking at the current analyst consensus data, we can see that the company's future payout ratio is expected to rise to 36% over the next three years. Despite the higher expected payout ratio, the company's ROE is not expected to change by much.

此外,順豐控股決心繼續與股東分享利潤,這是我們從其八年支付股息的長期歷史中推斷出來的。從目前的分析師共識數據來看,我們可以看到,該公司的未來派息率預計將在未來三年內升至36%。儘管預期派息率更高,但該公司的投資回報率預計不會有太大變化。

Conclusion

結論

In total, it does look like S.F. Holding has some positive aspects to its business. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high earnings growth. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. 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.

總的來說,順豐控股的業務看起來確實有一些積極的方面。儘管回報率很低,但該公司將其利潤的很大一部分再投資於業務這一事實無疑促進了其高收益增長。話雖如此,最新的行業分析師預測顯示,該公司的收益有望加速。要了解有關公司未來收益增長預測的更多信息,請查看這份關於分析師預測的免費報告,以了解更多信息。

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Simply Wall St 的這篇文章本質上是籠統的。我們僅使用公正的方法提供基於歷史數據和分析師預測的評論,我們的文章並非旨在提供財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不會考慮最新的價格敏感型公司公告或定性材料。華爾街只是沒有持有上述任何股票的頭寸。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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