Could The Market Be Wrong About Jiangsu Provincial Agricultural Reclamation and Development Co.,Ltd. (SHSE:601952) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About Jiangsu Provincial Agricultural Reclamation and Development Co.,Ltd. (SHSE:601952) Given Its Attractive Financial Prospects?
Jiangsu Provincial Agricultural Reclamation and DevelopmentLtd (SHSE:601952) has had a rough three months with its share price down 4.0%. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Specifically, we decided to study Jiangsu Provincial Agricultural Reclamation and DevelopmentLtd's ROE in this article.
江蘇省農墾開發有限公司（SHSE: 601952）經歷了艱難的三個月，其股價下跌了4.0％。但是，仔細觀察其良好的財務狀況可能會讓你重新考慮。鑑於基本面通常會推動長期市場業績，因此該公司值得關注。具體而言，我們決定在本文中研究江蘇省農墾開發有限公司的投資回報率。
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. 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股東要考慮的重要因素，因爲它告訴他們資本再投資的有效性。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。
See our latest analysis for Jiangsu Provincial Agricultural Reclamation and DevelopmentLtd
查看我們對江蘇省農墾開發有限公司的最新分析
How Is ROE Calculated?
ROE 是如何計算的？
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 Jiangsu Provincial Agricultural Reclamation and DevelopmentLtd is:
因此，根據上述公式，江蘇省農墾開發有限公司的投資回報率爲：
11% = CN¥763m ÷ CN¥6.8b (Based on the trailing twelve months to September 2023).
11% = 7.63億元人民幣 ÷ 68億元人民幣（基於截至2023年9月的過去十二個月）。
The 'return' is the profit over the last twelve months. 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” 是過去十二個月的利潤。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。
What Has ROE Got To Do With Earnings Growth?
投資回報率與收益增長有什麼關係？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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.
我們已經確定，投資回報率是衡量公司未來收益的有效盈利指標。現在，我們需要評估公司再投資或 “保留” 了多少利潤以用於未來的增長，從而使我們對公司的增長潛力有所了解。假設其他條件都一樣，與功能不相同的公司相比，具有更高股本回報率和更高利潤保留率的公司通常具有更高的增長率。
A Side By Side comparison of Jiangsu Provincial Agricultural Reclamation and DevelopmentLtd's Earnings Growth And 11% ROE
江蘇省農墾開發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, Jiangsu Provincial Agricultural Reclamation and DevelopmentLtd's ROE looks acceptable. Further, the company's ROE compares quite favorably to the industry average of 8.5%. This probably laid the ground for Jiangsu Provincial Agricultural Reclamation and DevelopmentLtd's moderate 7.5% net income growth seen over the past five years.
首先，江蘇省農墾開發有限公司的投資回報率似乎是可以接受的。此外，該公司的投資回報率與行業平均水平的8.5％相比相當不錯。這可能爲江蘇省農墾開發有限公司在過去五年中實現7.5％的溫和淨收入增長奠定了基礎。
As a next step, we compared Jiangsu Provincial Agricultural Reclamation and DevelopmentLtd's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 7.3% in the same period.
下一步，我們將江蘇省農墾開發有限公司的淨收入增長與該行業進行了比較，發現與同期行業平均增長率7.3％相比，該公司的增長數字相似。
Earnings growth is a huge factor in stock valuation. 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. If you're wondering about Jiangsu Provincial Agricultural Reclamation and DevelopmentLtd's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
收益增長是股票估值的重要因素。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。然後，這可以幫助他們確定股票是爲光明還是暗淡的未來而佈局。如果你想知道江蘇省農墾開發有限公司的估值，可以看看這個衡量其與行業相比的市盈率指標。
Is Jiangsu Provincial Agricultural Reclamation and DevelopmentLtd Making Efficient Use Of Its Profits?
江蘇省農墾開發有限公司是否在有效利用其利潤？
With a three-year median payout ratio of 43% (implying that the company retains 57% of its profits), it seems that Jiangsu Provincial Agricultural Reclamation and DevelopmentLtd is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.
江蘇省農墾開發有限公司的三年派息率中位數爲43％（這意味着該公司保留了57％的利潤），看來正在進行有效的再投資，其收益將實現可觀的增長，並支付可觀的股息。
Moreover, Jiangsu Provincial Agricultural Reclamation and DevelopmentLtd is determined to keep sharing its profits with shareholders which we infer from its long history of six years of paying a dividend.
此外，江蘇省農墾開發有限公司決心繼續與股東分享利潤，這是我們從其六年分紅的悠久歷史中推斷出來的。
Summary
摘要
On the whole, we feel that Jiangsu Provincial Agricultural Reclamation and DevelopmentLtd's performance has been quite good. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. 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，我們覺得江蘇省農墾開發有限公司的業績相當不錯。特別是，很高興看到該公司正在對其業務進行大量投資，再加上高回報率，這爲其收益帶來了可觀的增長。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。