Hangzhou Fortune Gas Cryogenic Group Co., Ltd.'s (SHSE:603173) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Hangzhou Fortune Gas Cryogenic Group Co., Ltd.'s (SHSE:603173) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Hangzhou Fortune Gas Cryogenic Group (SHSE:603173) has had a rough three months with its share price down 21%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. In this article, we decided to focus on Hangzhou Fortune Gas Cryogenic Group's ROE.
杭州富强燃气低温集团（上海证券交易所代码：603173）经历了艰难的三个月，其股价下跌了21％。但是，如果你密切关注，你可能会发现，鉴于市场通常会奖励财务状况良好的公司，其强劲的财务状况可能意味着该股的长期价值可能会增加。在本文中，我们决定重点介绍杭州富强燃气低温集团的投资回报率。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
投资回报率或股本回报率是评估公司如何有效地从股东那里获得投资回报的有用工具。简而言之，投资回报率显示了每美元从其股东投资中产生的利润。
Check out our latest analysis for Hangzhou Fortune Gas Cryogenic Group
查看我们对杭州富腾燃气低温集团的最新分析
How Do You Calculate Return On Equity?
你如何计算股本回报率？
The formula for return on equity is:
这个 股本回报率公式 是：
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 Hangzhou Fortune Gas Cryogenic Group is:
因此，根据上述公式，杭州富强燃气低温集团的投资回报率为：
13% = CN¥181m ÷ CN¥1.4b (Based on the trailing twelve months to June 2023).
13% = 1.81亿元人民币 ^14亿元人民币（基于截至2023年6月的过去十二个月）。
The 'return' is the amount earned after tax 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¥0.13 in profit.
“回报” 是过去十二个月的税后收入。另一种看法是，每持有价值1元人民币的股权，该公司就能获得0.13元人民币的利润。
What Has ROE Got To Do With Earnings Growth?
投资回报率与收益增长有什么关系？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. 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，投资回报率衡量的是公司创造利润的效率。然后，我们能够评估公司的收益增长潜力，具体取决于公司对这些利润进行再投资或 “保留” 了多少及其有效性。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。
Hangzhou Fortune Gas Cryogenic Group's Earnings Growth And 13% ROE
杭州富强燃气低温集团的收益增长和 13% 的投资回报率
At first glance, Hangzhou Fortune Gas Cryogenic Group seems to have a decent ROE. Further, the company's ROE compares quite favorably to the industry average of 7.9%. This certainly adds some context to Hangzhou Fortune Gas Cryogenic Group's exceptional 24% net income growth seen over the past five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
乍一看，杭州富强燃气低温集团的投资回报率似乎不错。此外，该公司的投资回报率与7.9％的行业平均水平相比相当不错。这无疑为杭州富气低温集团在过去五年中实现的24％的惊人净收入增长增添了一些背景。我们认为，可能还有其他方面对公司的收益增长产生积极影响。例如，公司的管理层可能做出了一些不错的战略决策，或者公司的派息率很低。
As a next step, we compared Hangzhou Fortune Gas Cryogenic Group'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，我们将杭州富气低温集团的净收入增长与该行业进行了比较，令人高兴的是，我们发现该公司的增长高于行业平均增长11％。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. 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 Hangzhou Fortune Gas Cryogenic Group is trading on a high P/E or a low P/E, relative to its industry.
赋予公司价值的基础在很大程度上与其收益增长息息相关。投资者应尝试确定收益的预期增长或下降（无论情况如何）是否被计入其中。然后，这可以帮助他们确定股票是为光明的未来还是黯淡的未来而配置。预期收益增长的一个很好的指标是市盈率，它根据股票的收益前景决定了市场愿意为股票支付的价格。因此，您可能需要检查一下相对于其行业而言，杭州富强燃气低温集团的市盈率是高还是低市盈率。
Is Hangzhou Fortune Gas Cryogenic Group Using Its Retained Earnings Effectively?
杭州富地燃气低温集团是否有效地使用了其留存收益？
Hangzhou Fortune Gas Cryogenic Group has a really low three-year median payout ratio of 12%, meaning that it has the remaining 88% left over to reinvest into its business. So it looks like Hangzhou Fortune Gas Cryogenic Group is reinvesting profits heavily to grow its business, which shows in its earnings growth.
杭州富强燃气低温集团的三年中位派息率非常低，为12％，这意味着剩下的88％可以再投资于其业务。因此，看来杭州富强燃气低温集团正在对利润进行大量再投资以发展其业务，这体现在其收益增长中。
Conclusion
结论
In total, we are pretty happy with Hangzhou Fortune Gas Cryogenic Group'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 latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总的来说，我们对杭州富强燃气低温集团的表现非常满意。特别是，我们喜欢该公司对其业务进行大量再投资，而且回报率很高。毫不奇怪，这带来了令人印象深刻的收益增长。话虽如此，从分析师目前的估计来看，我们发现该公司的收益有望增强。要了解有关分析师对公司的最新预测的更多信息，请查看分析师对公司的预测的可视化。
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