Is Weakness In Jiangxi Yuean Advanced Materials Co.,Ltd. (SHSE:688786) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
Is Weakness In Jiangxi Yuean Advanced Materials Co.,Ltd. (SHSE:688786) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
It is hard to get excited after looking at Jiangxi Yuean Advanced MaterialsLtd's (SHSE:688786) recent performance, when its stock has declined 11% over the past week. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Specifically, we decided to study Jiangxi Yuean Advanced MaterialsLtd's ROE in this article.
看了江西悅安新材料有限公司（上海證券交易所股票代碼：688786）最近的業績，很難感到興奮，當時該公司的股票在過去一週下跌了11％。但是，股票價格通常由公司的長期財務業績驅動，在這種情況下，這看起來很有希望。具體而言，我們決定在本文中研究江西悅安新材料有限公司的投資回報率。
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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
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衡量標準。換句話說，它是一種盈利比率，用於衡量公司股東提供的資本的回報率。
View our latest analysis for Jiangxi Yuean Advanced MaterialsLtd
查看我們對江西悅安新材料有限公司的最新分析
How Do You Calculate Return On Equity?
你如何計算股本回報率？
Return on equity can be calculated by using the formula:
股本回報率可以使用以下公式計算：
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 Jiangxi Yuean Advanced MaterialsLtd is:
因此，根據上述公式，江西悅安新材料有限公司的投資回報率爲：
11% = CN¥78m ÷ CN¥683m (Based on the trailing twelve months to September 2023).
11% = 7800萬元人民幣 ÷ 6.83億元人民幣（基於截至2023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¥0.11 in profit.
“回報” 是指公司去年的收益。另一種看法是，每持有價值1元人民幣的股權，公司就能獲得0.11元人民幣的利潤。
Why Is ROE Important For Earnings Growth?
爲什麼投資回報率對收益增長很重要？
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，ROE衡量的是公司創造利潤的效率。然後，根據公司對這些利潤進行再投資或 “保留” 的金額及其有效性，我們就能評估公司的盈利增長潛力。一般而言，在其他條件相同的情況下，股本回報率和利潤保留率高的公司比不具備這些屬性的公司的增長率更高。
A Side By Side comparison of Jiangxi Yuean Advanced MaterialsLtd's Earnings Growth And 11% ROE
江西悅安新材料有限公司的收益增長和11％的投資回報率的並排比較
To start with, Jiangxi Yuean Advanced MaterialsLtd's ROE looks acceptable. Especially when compared to the industry average of 7.0% the company's ROE looks pretty impressive. This certainly adds some context to Jiangxi Yuean Advanced MaterialsLtd's decent 14% net income growth seen over the past five years.
首先，江西悅安新材料有限公司的投資回報率似乎可以接受。特別是與7.0％的行業平均水平相比，該公司的投資回報率看起來相當可觀。這無疑爲江西悅安新材料有限公司在過去五年中實現的14％的淨收入增長增添了一些背景信息。
Next, on comparing Jiangxi Yuean Advanced MaterialsLtd's net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 13% over the last few years.
接下來，在將江西悅安新材料有限公司的淨收入增長與該行業的淨收入增長進行比較時，我們發現該公司報告的增長與過去幾年13％的行業平均增長率相似。
Earnings growth is an important metric to consider when valuing a stock. 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 Jiangxi Yuean Advanced MaterialsLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增長是對股票進行估值時要考慮的重要指標。對於投資者來說，重要的是要知道市場是否對公司的預期收益增長（或下降）進行了定價。然後，這可以幫助他們確定股票是面向光明還是暗淡的未來。與其他公司相比，江西悅安新材料有限公司的估值是否合理？這3種估值指標可能會幫助您做出決定。
Is Jiangxi Yuean Advanced MaterialsLtd Making Efficient Use Of Its Profits?
江西悅安新材料有限公司是否在有效利用其利潤？
While Jiangxi Yuean Advanced MaterialsLtd has a three-year median payout ratio of 51% (which means it retains 49% of profits), the company has still seen a fair bit of earnings growth in the past, meaning that its high payout ratio hasn't hampered its ability to grow.
儘管江西悅安新材料有限公司的三年派息率中位數爲51％（這意味着它保留了49％的利潤），但該公司過去的收益仍有相當大的增長，這意味着其高派息率並未阻礙其增長能力。
While Jiangxi Yuean Advanced MaterialsLtd has seen growth in its earnings, it only recently started to pay a dividend. It is most likely that the company decided to impress new and existing shareholders with a dividend.
儘管江西悅安新材料有限公司的收益有所增長，但它直到最近才開始派息。該公司很可能決定通過分紅給新老股東留下深刻的印象。
Summary
摘要
In total, we are pretty happy with Jiangxi Yuean Advanced MaterialsLtd's performance. We are particularly impressed by the considerable earnings growth posted by the company, which was likely backed by its high ROE. While the company is paying out most of its earnings as dividends, it has been able to grow its earnings in spite of it, so that's probably a good sign. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
總的來說，我們對江西悅安新材料有限公司的表現非常滿意。該公司公佈的可觀收益增長給我們留下了特別深刻的印象，這可能得到了其高投資回報率的支持。儘管該公司將大部分收益作爲股息支付，但儘管如此，它還是得以增加收益，因此這可能是一個好兆頭。話雖如此，從分析師目前的估計來看，我們發現該公司的收益有望增強。這些分析師的預期是基於對該行業的廣泛預期，還是基於公司的基本面？點擊此處進入我們分析師對公司的預測頁面。
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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。
譯文內容由第三人軟體翻譯。