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Is Guangdong Ellington Electronics Technology Co.,Ltd's (SHSE:603328) Recent Stock Performance Influenced By Its Financials In Any Way?

Is Guangdong Ellington Electronics Technology Co.,Ltd's (SHSE:603328) Recent Stock Performance Influenced By Its Financials In Any Way?

是广东艾灵顿电子科技有限公司吗, Ltd(上海证券交易所代码:603328)最近的股票表现是否受到其财务状况的影响?
Simply Wall St ·  04/30 08:53

Most readers would already know that Guangdong Ellington Electronics TechnologyLtd's (SHSE:603328) stock increased by 7.8% over the past three months. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to investigate if the company's decent financials had a hand to play in the recent price move. Specifically, we decided to study Guangdong Ellington Electronics TechnologyLtd's ROE in this article.

大多数读者已经知道,广东艾灵顿电子科技有限公司(SHSE: 603328)的股票在过去三个月中上涨了7.8%。鉴于股票价格通常与公司的长期财务表现一致,我们决定调查该公司的良好财务状况是否在近期的价格变动中发挥了作用。具体而言,我们决定在本文中研究广东艾灵顿电子科技有限公司的投资回报率。

Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

股本回报率或投资回报率是股东需要考虑的重要因素,因为它可以告诉他们资本再投资的有效性。简而言之,它用于评估公司相对于其股权资本的盈利能力。

How To Calculate Return On Equity?

如何计算股本回报率?

Return on equity can be calculated by using the formula:

股本回报率可以使用以下公式计算:

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

股本回报率 = 净利润(来自持续经营业务)÷ 股东权益

So, based on the above formula, the ROE for Guangdong Ellington Electronics TechnologyLtd is:

因此,根据上述公式,广东艾灵顿电子科技有限公司的投资回报率为:

9.4% = CN¥355m ÷ CN¥3.8b (Based on the trailing twelve months to December 2023).

9.4% = 3.55亿元人民币 ÷ 38亿元人民币(基于截至2023年12月的过去十二个月)。

The 'return' is the amount earned after tax over the last twelve months. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.09 in profit.

“回报” 是过去十二个月的税后收入。这意味着,公司每获得价值1元人民币的股东权益,就会产生0.09元的利润。

What Has ROE Got To Do With Earnings Growth?

投资回报率与收益增长有什么关系?

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. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.

到目前为止,我们已经了解到,投资回报率是衡量公司盈利能力的指标。根据公司选择将多少利润进行再投资或 “保留”,我们便能够评估公司未来创造利润的能力。假设其他一切保持不变,那么与不一定具有这些特征的公司相比,投资回报率和利润保留率越高,公司的增长率就越高。

A Side By Side comparison of Guangdong Ellington Electronics TechnologyLtd's Earnings Growth And 9.4% ROE

广东艾灵顿电子科技有限公司的收益增长和9.4%的投资回报率的并排比较

At first glance, Guangdong Ellington Electronics TechnologyLtd's ROE doesn't look very promising. However, the fact that the company's ROE is higher than the average industry ROE of 6.2%, is definitely interesting. But seeing Guangdong Ellington Electronics TechnologyLtd's five year net income decline of 22% over the past five years, we might rethink that. Remember, the company's ROE is a bit low to begin with, just that it is higher than the industry average. Therefore, the decline in earnings could also be the result of this.

乍一看,广东艾灵顿电子科技有限公司的投资回报率看起来并不十分乐观。但是,该公司的投资回报率高于6.2%的行业平均投资回报率,这一事实绝对很有趣。但是,鉴于广东艾灵顿电子科技有限公司的五年净收入在过去五年中下降了22%,我们可能会重新考虑这个问题。请记住,该公司的投资回报率一开始有点低,只是高于行业平均水平。因此,收入的下降也可能是由此造成的。

So, as a next step, we compared Guangdong Ellington Electronics TechnologyLtd'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 7.1% over the last few years.

因此,下一步,我们将广东艾灵顿电子科技有限公司的表现与行业进行了比较,失望地发现,尽管该公司一直在缩减收益,但该行业在过去几年中一直以7.1%的速度增长。

past-earnings-growth
SHSE:603328 Past Earnings Growth April 30th 2024
SHSE: 603328 过去的收益增长 2024 年 4 月 30 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. This then helps them determine if the stock is placed for a bright or bleak future. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Guangdong Ellington Electronics TechnologyLtd is trading on a high P/E or a low P/E, relative to its industry.

为公司附加价值的基础在很大程度上与其收益增长息息相关。投资者接下来需要确定的是,预期的收益增长或缺乏收益是否已经包含在股价中。然后,这可以帮助他们确定股票是为光明还是暗淡的未来而布局。衡量预期收益增长的一个很好的指标是市盈率,它根据收益前景决定了市场愿意为股票支付的价格。因此,您可能需要检查广东艾灵顿电子科技有限公司相对于其行业是高市盈率还是低市盈率。

Is Guangdong Ellington Electronics TechnologyLtd Making Efficient Use Of Its Profits?

广东艾灵顿电子科技有限公司是否在有效利用其利润?

Despite having a normal three-year median payout ratio of 48% (where it is retaining 52% of its profits), Guangdong Ellington Electronics TechnologyLtd has seen a decline in earnings as we saw above. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.

尽管正常的三年派息率中位数为48%(保留了52%的利润),但如上所示,广东艾灵顿电子科技有限公司的收益却有所下降。看来可能还有其他一些原因可以解释这方面的不足。例如,业务可能会下滑。

In addition, Guangdong Ellington Electronics TechnologyLtd has been paying dividends over a period of at least ten years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth.

此外,广东艾灵顿电子科技有限公司至少十年来一直在派发股息,这表明即使以业务增长为代价,继续支付股息对管理层来说也更为重要。

Conclusion

结论

Overall, we feel that Guangdong Ellington Electronics TechnologyLtd certainly does have some positive factors to consider. Yet, the low earnings growth is a bit concerning, especially given that the company has a respectable rate of return and is reinvesting a huge portion of its profits. By the looks of it, there could be some other factors, not necessarily in control of the business, that's preventing growth. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. Our risks dashboard would have the 2 risks we have identified for Guangdong Ellington Electronics TechnologyLtd.

总的来说,我们认为广东艾灵顿电子科技有限公司确实有一些积极的因素需要考虑。但是,低收益增长有点令人担忧,特别是考虑到该公司的回报率可观,并且正在将很大一部分利润再投资。从表面上看,可能还有其他一些因素阻碍了增长,这些因素不一定是业务的控制。虽然我们不会完全解散公司,但我们要做的是努力确定业务的风险,以便在公司周围做出更明智的决定。我们的风险仪表板将包含我们为广东艾灵顿电子科技有限公司确定的两种风险。

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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的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

译文内容由第三方软件翻译。


以上内容仅用作资讯或教育之目的,不构成与富途相关的任何投资建议。富途竭力但不能保证上述全部内容的真实性、准确性和原创性。
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