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Glodon Company Limited's (SZSE:002410) Stock Is Going Strong: Have Financials A Role To Play?

Glodon Company Limited's (SZSE:002410) Stock Is Going Strong: Have Financials A Role To Play?

广联达股份有限公司(深交所代码:002410)的股票表现强劲:财务数据是否发挥了作用?
Simply Wall St ·  12/12 19:05

Most readers would already be aware that Glodon's (SZSE:002410) stock increased significantly by 47% over the past 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. Specifically, we decided to study Glodon's ROE in this article.

大多数读者可能已经知道广联达(SZSE:002410)的股票在过去三个月中显著上涨了47%。众所周知,基本面通常是指导市场价格波动的因素,因此我们决定今天来看看公司的主要财务指标,以判断它们在最近的价格波动中是否发挥了作用。具体来说,我们决定在本文中研究广联达的ROE。

ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

ROE或股本回报率是一个有用的工具,用于评估公司如何有效地利用其股东投入的资金来产生回报。换句话说,它是一个衡量公司股东所提供资本的回报率的盈利能力比率。

How To Calculate Return On Equity?

如何计算股东权益回报率?

ROE can be calculated by using the formula:

ROE可以通过以下公式计算:

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

股东权益回报率 = 净利润(来自持续运营)÷ 股东权益

So, based on the above formula, the ROE for Glodon is:

所以,根据上述公式,广联达的roe为:

1.1% = CN¥70m ÷ CN¥6.5b (Based on the trailing twelve months to September 2024).

1.1% = CN¥7000万 ÷ CN¥65亿(基于截至2024年9月的过去十二个月数据)。

The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.01 in profit.

'回报'是过去十二个月的利润。一种理解方式是,对于每CN¥1的股东资本,公司获得了CN¥0.01的利润。

Why Is ROE Important For Earnings Growth?

ROE为什么对净利润增长很重要?

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. 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.

到目前为止,我们已经了解到ROE是公司的盈利能力的一种衡量标准。根据公司选择再投资或“留存”的利润比例,我们能够评估公司未来产生利润的能力。一般来说,其他条件相同的情况下,具有高股本回报率和利润留存的公司,增长率往往高于没有这些特点的公司。

A Side By Side comparison of Glodon's Earnings Growth And 1.1% ROE

广联达的盈利增长与1.1% ROE的并排比较

It is hard to argue that Glodon's ROE is much good in and of itself. Not just that, even compared to the industry average of 4.5%, the company's ROE is entirely unremarkable. As a result, Glodon's flat earnings over the past five years doesn't come as a surprise given its lower ROE.

很难说广联达的ROE本身有多好。 不仅如此,与行业平均4.5%的ROE相比,该公司的ROE完全不值得一提。因此,考虑到其较低的ROE,广联达过去五年的盈利持平并不令人惊讶。

As a next step, we compared Glodon's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 1.1%.

作为下一步,我们将广联达的净利润增长与行业进行了比较,令人欣喜的是,我们发现该公司的增长高于行业平均增长1.1%。

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SZSE:002410 Past Earnings Growth December 13th 2024
SZSE:002410 过去的盈利增长 2024年12月13日

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). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. What is 002410 worth today? The intrinsic value infographic in our free research report helps visualize whether 002410 is currently mispriced by the market.

盈利增长是股票估值中的一个重要因素。投资者了解市场是否已经考虑到公司的预期盈利增长(或下降)非常重要。通过这样做,他们将能够判断股票是朝着明朗的沃特世前进,还是等待沼泽的水域。002410今天值多少钱?我们免费研究报告中的内在价值信息图有助于可视化002410当前是否被市场定价错误。

Is Glodon Efficiently Re-investing Its Profits?

广联达是否有效地重新投资其利润?

The high three-year median payout ratio of 53% (meaning, the company retains only 47% of profits) for Glodon suggests that the company's earnings growth was miniscule as a result of paying out a majority of its earnings.

广联达高达53%的三年中位支付比例(这意味着公司仅保留47%的利润)表明,公司的盈利增长微乎其微,因为公司支付了大部分利润。

Moreover, Glodon has been paying dividends for at least ten years or more suggesting that management must have perceived that the shareholders prefer dividends over earnings growth. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 51%. Still, forecasts suggest that Glodon's future ROE will rise to 13% even though the the company's payout ratio is not expected to change by much.

此外,广联达至少已经支付了十年或更长时间的分红,这表明管理层必须意识到股东更喜欢分红而非盈利增长。根据最新的分析师估计,我们发现公司未来三年的支付比例预计将保持在51%。尽管公司的支付比例预计不会有太大变化,但预测仍然表明广联达未来的ROE将上升至13%。

Summary

总结

Overall, we feel that Glodon certainly does have some positive factors to consider. 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. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

总体而言,我们认为广联达确实有一些正面的因素需要考虑。虽然毫无疑问,其盈利增长相当可观,但我们感到再投资率相对较低,这意味着,如果公司能保留更多的利润,盈利增长的数字本可以显著更高。尽管如此,最新的分析师预测显示,该公司将继续实现盈利的扩张。要了解有关该公司的最新分析师预测,请查看关于该公司的分析师预测可视化。

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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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这篇来自Simply Wall St的文章是一般性的。我们根据历史数据和分析师预测提供评论,采用无偏见的方法,我们的文章并不旨在提供财务建议。它不构成对任何股票的买入或卖出建议,也未考虑到您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意,我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St在提到的任何股票中均没有持仓。

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