Are Inmyshow Digital Technology(Group)Co.,Ltd.'s (SHSE:600556) Mixed Financials Driving The Negative Sentiment?
Are Inmyshow Digital Technology(Group)Co.,Ltd.'s (SHSE:600556) Mixed Financials Driving The Negative Sentiment?
With its stock down 17% over the past three months, it is easy to disregard Inmyshow Digital Technology(Group)Co.Ltd (SHSE:600556). It is possible that the markets have ignored the company's differing financials and decided to lean-in to the negative sentiment. Long-term fundamentals are usually what drive market outcomes, so it's worth paying close attention. Particularly, we will be paying attention to Inmyshow Digital Technology(Group)Co.Ltd's ROE today.
Inmyshow數字科技（集團）有限公司（上海證券交易所股票代碼：600556）的股票在過去三個月中下跌了17％，很容易被忽視。市場可能忽視了該公司不同的財務狀況，決定傾向於負面情緒。長期基本面通常是推動市場結果的因素，因此值得密切關注。特別是，我們今天將關注Inmyshow數字科技（集團）有限公司的投資回報率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股本回報率或投資回報率是對公司增值和管理投資者資金的有效性的考驗。簡而言之，投資回報率顯示了每美元從其股東投資中產生的利潤。
How Is ROE Calculated?
ROE 是如何計算的？
ROE can be calculated by using the formula:
ROE 可以通過以下公式計算：
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 Inmyshow Digital Technology(Group)Co.Ltd is:
因此，根據上述公式，Inmyshow數字科技（集團）有限公司的投資回報率爲：
2.0% = CN¥76m ÷ CN¥3.8b (Based on the trailing twelve months to September 2023).
2.0% = 7600萬元人民幣 ÷ 38億元人民幣（基於截至2023年9月的過去十二個月）。
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.02.
“申報表” 是過去十二個月的稅後收入金額。因此，這意味着其股東每投資1元人民幣，公司就會產生0.02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？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
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。然後，我們能夠評估公司的收益增長潛力，具體取決於公司對這些利潤進行再投資或 “保留” 了多少及其有效性。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。
Inmyshow Digital Technology(Group)Co.Ltd's Earnings Growth And 2.0% ROE
Inmyshow 數字科技（集團）有限公司的收益增長和 2.0% 的投資回報率
It is quite clear that Inmyshow Digital Technology(Group)Co.Ltd's ROE is rather low. Even compared to the average industry ROE of 6.1%, the company's ROE is quite dismal. Therefore, it might not be wrong to say that the five year net income decline of 10% seen by Inmyshow Digital Technology(Group)Co.Ltd was possibly a result of it having a lower ROE. However, there could also be other factors causing the earnings to decline. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.
很明顯，Inmyshow數字科技（集團）有限公司的投資回報率相當低。即使與6.1％的行業平均投資回報率相比，該公司的投資回報率也相當慘淡。因此，說Inmyshow數字科技（集團）有限公司五年淨收入下降10％可能是其投資回報率下降的結果，這可能沒有錯。但是，也可能有其他因素導致收益下降。例如，該企業的資本分配不佳，或者該公司的派息率非常高。
However, when we compared Inmyshow Digital Technology(Group)Co.Ltd's growth with the industry we found that while the company's earnings have been shrinking, the industry has seen an earnings growth of 2.2% in the same period. This is quite worrisome.
但是，當我們將Inmyshow數字科技（集團）有限公司的增長與該行業的增長進行比較時，我們發現，儘管該公司的收益一直在萎縮，但該行業同期的收益增長了2.2％。這非常令人擔憂。
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). Doing so will help them establish if the stock's future looks promising or ominous. Is 600556 fairly valued? This infographic on the company's intrinsic value has everything you need to know.
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。這樣做將幫助他們確定股票的未來是樂觀還是不祥的。600556 估值合理嗎？這張關於公司內在價值的信息圖包含了你需要知道的一切。
Is Inmyshow Digital Technology(Group)Co.Ltd Using Its Retained Earnings Effectively?
Inmyshow 數字科技（集團）有限公司是否在有效使用其留存收益？
Inmyshow Digital Technology(Group)Co.Ltd's low three-year median payout ratio of 10.0% (implying that it retains the remaining 90% of its profits) comes as a surprise when you pair it with the shrinking earnings. This typically shouldn't be the case when a company is retaining most of its earnings. So there could be some other explanations in that regard. For example, the company's business may be deteriorating.
Inmyshow Digital Technology（集團）有限公司的三年低派息率中位數爲10.0％（這意味着它保留了剩餘的90％的利潤），這與不斷萎縮的收益相結合，這真是令人驚訝。當公司保留大部分收益時，通常不應出現這種情況。因此，在這方面可能還有其他解釋。例如，公司的業務可能正在惡化。
Additionally, Inmyshow Digital Technology(Group)Co.Ltd has paid dividends over a period of four years, which means that the company's management is rather focused on keeping up its dividend payments, regardless of the shrinking earnings.
此外，Inmyshow Digital Technology（集團）有限公司已在四年內派發了股息，這意味着無論收益如何萎縮，該公司的管理層都相當專注於維持股息支付。
Summary
摘要
Overall, we have mixed feelings about Inmyshow Digital Technology(Group)Co.Ltd. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. With that said, we studied the latest analyst forecasts and found that while the company has shrunk its earnings in the past, analysts expect its earnings to grow in the future. 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.
總體而言，我們對Inmyshow Digital Technology（集團）有限公司的看法喜憂參半。儘管該公司的利潤保留率確實很高，但其低迴報率可能會阻礙其收益增長。話雖如此，我們研究了分析師的最新預測，發現儘管該公司過去曾縮減收益，但分析師預計其未來收益將增長。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。
譯文內容由第三人軟體翻譯。