Are Robust Financials Driving The Recent Rally In Yindu Kitchen Equipment Co., Ltd's (SHSE:603277) Stock?
Are Robust Financials Driving The Recent Rally In Yindu Kitchen Equipment Co., Ltd's (SHSE:603277) Stock?
Most readers would already be aware that Yindu Kitchen Equipment's (SHSE:603277) stock increased significantly by 11% over the past three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. Particularly, we will be paying attention to Yindu Kitchen Equipment's ROE today.
大多數讀者已經意識到，銀都廚房設備（上海證券交易所代碼：603277）的股票在過去三個月中大幅增長了11％。由於市場通常會爲公司的長期基本面買單，因此我們決定研究公司的關鍵績效指標，看看它們是否會影響市場。特別是，我們今天將關注銀都廚房設備的投資回報率。
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 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（來自持續經營業務）÷ 股東權益
So, based on the above formula, the ROE for Yindu Kitchen Equipment is:
因此，根據上述公式，銀都廚房設備的投資回報率爲：
18% = CN¥485m ÷ CN¥2.7b (Based on the trailing twelve months to September 2023).
18% = 4.85億元人民幣 ÷ 27億元人民幣（基於截至2023年9月的過去十二個月）。
The 'return' is the yearly profit. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.18 in profit.
“回報” 是每年的利潤。對此進行概念化的一種方法是，該公司每擁有1元人民幣的股本即可獲得0.18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？
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.
到目前爲止，我們已經了解到，投資回報率是衡量公司盈利能力的指標。根據公司選擇將多少利潤進行再投資或 “保留”，我們便能夠評估公司未來創造利潤的能力。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。
A Side By Side comparison of Yindu Kitchen Equipment's Earnings Growth And 18% ROE
銀都廚房設備的收益增長和18％的投資回報率的並排比較
To start with, Yindu Kitchen Equipment's ROE looks acceptable. Further, the company's ROE compares quite favorably to the industry average of 7.4%. This certainly adds some context to Yindu Kitchen Equipment's decent 15% net income growth seen over the past five years.
首先，銀都廚房設備的投資回報率似乎可以接受。此外，該公司的投資回報率與行業平均水平的7.4％相比相當不錯。這無疑爲銀都廚房設備在過去五年中實現的15％的可觀淨收入增長增添了一些背景信息。
As a next step, we compared Yindu Kitchen Equipment'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 11%.
下一步，我們將銀都廚房設備的淨收入增長與行業進行了比較，令人高興的是，我們發現該公司的增長高於11％的行業平均增長。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. If you're wondering about Yindu Kitchen Equipment's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
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。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。如果你想知道銀都廚房設備的估值，可以看看這個衡量銀都廚房設備與行業相比的市盈率指標。
Is Yindu Kitchen Equipment Efficiently Re-investing Its Profits?
銀都廚房設備是否有效地將利潤再投資？
While the company did pay out a portion of its dividend in the past, it currently doesn't pay a dividend. We infer that the company has been reinvesting all of its profits to grow its business.
儘管該公司過去確實支付了部分股息，但目前不支付股息。我們推斷，該公司一直在將其所有利潤再投資於發展業務。
Conclusion
結論
In total, we are pretty happy with Yindu Kitchen Equipment's performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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，我們對銀都廚房設備的表現非常滿意。特別是，我們喜歡該公司對其業務進行大量再投資，而且回報率很高。毫不奇怪，這帶來了令人印象深刻的收益增長。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。要了解有關公司未來收益增長預測的更多信息，請查看這份免費的分析師預測報告，以了解更多信息。
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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根據歷史數據和分析師的預測提供評論，我們的文章無意作爲財務建議。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，我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之，華爾街沒有持有任何上述股票的頭寸。
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