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Will Weakness in Heilongjiang Publishing & Media Co., Ltd.'s (SHSE:605577) Stock Prove Temporary Given Strong Fundamentals?

Will Weakness in Heilongjiang Publishing & Media Co., Ltd.'s (SHSE:605577) Stock Prove Temporary Given Strong Fundamentals?

黑龍江出版傳媒有限公司會出現弱點'鑑於基本面強勁,s(SHSE: 605577)股票被證明是暫時的?
Simply Wall St ·  05/05 08:46

With its stock down 6.6% over the past three months, it is easy to disregard Heilongjiang Publishing & Media (SHSE:605577). However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. In this article, we decided to focus on Heilongjiang Publishing & Media's ROE.

黑龍江出版傳媒(SHSE: 605577)的股票在過去三個月中下跌了6.6%,很容易被忽視。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。在這篇文章中,我們決定重點關注黑龍江出版傳媒的投資回報率。

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 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股東需要考慮的重要因素,因爲它可以告訴他們資本再投資的有效性。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 Do You Calculate Return On Equity?

你如何計算股本回報率?

The formula for ROE is:

ROE 的公式是:

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 Heilongjiang Publishing & Media is:

因此,根據上述公式,黑龍江出版傳媒的投資回報率爲:

9.0% = CN¥340m ÷ CN¥3.8b (Based on the trailing twelve months to March 2024).

9.0% = 3.4億元人民幣 ÷ 38億元人民幣(基於截至2024年3月的過去十二個月)。

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.

“回報” 是過去十二個月的稅後收入。這意味着,公司每獲得價值1元人民幣的股東權益,就會產生0.09元的利潤。

What Has ROE Got To Do With Earnings Growth?

投資回報率與收益增長有什麼關係?

Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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 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.

到目前爲止,我們已經了解到,投資回報率衡量的是公司創造利潤的效率。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。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 Heilongjiang Publishing & Media's Earnings Growth And 9.0% ROE

黑龍江出版傳媒的收益增長和9.0%的投資回報率的並排比較

When you first look at it, Heilongjiang Publishing & Media's ROE doesn't look that attractive. Although a closer study shows that the company's ROE is higher than the industry average of 4.9% which we definitely can't overlook. Particularly, the substantial 23% net income growth seen by Heilongjiang Publishing & Media over the past five years is impressive . Bear in mind, the company does have a moderately low ROE. It is just that the industry ROE is lower. So, there might well be other reasons for the earnings to grow. For example, it is possible that the broader industry is going through a high growth phase, or that the company has a low payout ratio.

乍一看,黑龍江出版傳媒的投資回報率看起來並不那麼吸引人。儘管一項更仔細的研究表明,該公司的投資回報率高於行業平均水平的4.9%,但我們絕對不能忽視。特別是,黑龍江出版傳媒在過去五年中實現了23%的淨收入大幅增長,這令人印象深刻。請記住,該公司的投資回報率確實適中。只是行業的投資回報率較低。因此,收益增長很可能還有其他原因。例如,整個行業可能正在經歷高增長階段,或者該公司的派息率很低。

As a next step, we compared Heilongjiang Publishing & Media'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 2.4%.

下一步,我們將黑龍江出版傳媒的淨收入增長與該行業進行了比較,令人高興的是,我們發現該公司的增長高於行業平均增長2.4%。

past-earnings-growth
SHSE:605577 Past Earnings Growth May 5th 2024
SHSE: 605577 過去的收益增長 2024 年 5 月 5 日

Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. Is Heilongjiang Publishing & Media 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。無論如何,投資者應設法確定預期的收益增長或下降是否已計入其中。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,黑龍江出版傳媒的估值是否合理?這3種估值指標可能會幫助您做出決定。

Is Heilongjiang Publishing & Media Using Its Retained Earnings Effectively?

黑龍江出版傳媒是否有效使用其留存收益?

Heilongjiang Publishing & Media has a really low three-year median payout ratio of 9.6%, meaning that it has the remaining 90% left over to reinvest into its business. So it seems like the management is reinvesting profits heavily to grow its business and this reflects in its earnings growth number.

黑龍江出版傳媒的三年中位數派息率非常低,爲9.6%,這意味着其餘的90%可以再投資於其業務。因此,管理層似乎正在將利潤大量再投資以發展業務,這反映在其收益增長數字上。

While Heilongjiang Publishing & Media 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.

儘管黑龍江出版傳媒的收益有所增長,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 Heilongjiang Publishing & Media's performance. In particular, it's great to see that the company has seen significant growth in its earnings backed by a respectable ROE and a high reinvestment rate. If the company continues to grow its earnings the way it has, that could have a positive impact on its share price given how earnings per share influence long-term share prices. Not to forget, share price outcomes are also dependent on the potential risks a company may face. So it is important for investors to be aware of the risks involved in the business. Our risks dashboard will have the 1 risk we have identified for Heilongjiang Publishing & Media.

總的來說,我們對黑龍江出版傳媒的表現非常滿意。特別是,很高興看到該公司的收益在可觀的投資回報率和高再投資率的支持下實現了顯著增長。考慮到每股收益如何影響長期股價,如果該公司繼續以現有方式增長收益,這可能會對其股價產生積極影響。別忘了,股價結果還取決於公司可能面臨的潛在風險。因此,投資者必須意識到業務所涉及的風險。我們的風險儀表板將包含我們爲黑龍江出版傳媒確定的1種風險。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
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。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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