Do Its Financials Have Any Role To Play In Driving Qian Jiang Water Resources Development Co.,Ltd's (SHSE:600283) Stock Up Recently?
Do Its Financials Have Any Role To Play In Driving Qian Jiang Water Resources Development Co.,Ltd's (SHSE:600283) Stock Up Recently?
Qian Jiang Water Resources DevelopmentLtd's (SHSE:600283) stock is up by a considerable 13% over the past week. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. Specifically, we decided to study Qian Jiang Water Resources DevelopmentLtd's ROE in this article.
錢江水利開發股份有限公司(上海證券交易所股票代碼：600283)的股票在過去一週裡上漲了13%。我們想知道，由於一家公司的長期基本面通常決定著市場結果，該公司的財務狀況是否以及在價格變化中扮演了什麼角色。具體地說，我們決定在本文中研究錢江水利開發有限公司的淨資產收益率。
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. Put another way, it reveals the company's success at turning shareholder investments into profits.
淨資產收益率，即股本回報率，是評估一家公司從股東那裡獲得投資回報的有效程度的有用工具。換句話說，它揭示了該公司成功地將股東投資轉化為利潤。
See our latest analysis for Qian Jiang Water Resources DevelopmentLtd
查看我們對錢江水利開發有限公司的最新分析
How To Calculate Return On Equity?
如何計算股本回報率？
The formula for return on equity is:
這個股本回報率公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率=(持續經營的)淨利潤？股東權益
So, based on the above formula, the ROE for Qian Jiang Water Resources DevelopmentLtd is:
因此，根據上述公式，錢江水利開發有限公司的淨資產收益率為：
9.0% = CN¥258m ÷ CN¥2.9b (Based on the trailing twelve months to June 2023).
9.0%=CN元2.58億×CN元29億元(基於截至2023年6月的12個月)。
The 'return' is the yearly profit. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.09 in profit.
“回報”就是年度利潤。另一種說法是，公司每持有價值1元的股權，就能賺取0.09元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
淨資產收益率與盈利增長之間有什麼關係？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
我們已經證實，淨資產收益率是一家公司未來收益的有效盈利指標。根據公司選擇再投資或“保留”多少利潤，我們就能夠評估一家公司未來產生利潤的能力。假設其他條件相同，與沒有相同特徵的公司相比，擁有更高股本回報率和更高利潤保留率的公司通常會有更高的增長率。
A Side By Side comparison of Qian Jiang Water Resources DevelopmentLtd's Earnings Growth And 9.0% ROE
錢江水利開發公司盈利增長與9.0%淨資產收益率的並列比較
When you first look at it, Qian Jiang Water Resources DevelopmentLtd's ROE doesn't look that attractive. However, its ROE is similar to the industry average of 8.9%, so we won't completely dismiss the company. Moreover, we are quite pleased to see that Qian Jiang Water Resources DevelopmentLtd's net income grew significantly at a rate of 27% over the last five years. Taking into consideration that the ROE is not particularly high, we reckon that there could also be other factors at play which could be influencing the company's growth. Such as - high earnings retention or an efficient management in place.
當你第一眼看到它時，錢江水利開發有限公司的淨資產收益率看起來並不那麼吸引人。不過，其淨資產收益率接近8.9%的行業平均水準，因此我們不會完全對該公司不屑一顧。此外，我們很高興地看到，錢江水利開發有限公司的淨收入在過去五年中以27%的速度大幅增長。考慮到淨資產收益率不是特別高，我們認為也可能有其他因素在發揮作用，可能正在影響公司的增長。例如-高收益留存或有效的管理到位。
We then compared Qian Jiang Water Resources DevelopmentLtd's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 4.0% in the same 5-year period.
然後，我們將錢江水利開發有限公司的淨收入增長與行業進行了比較，我們高興地看到，與同期4.0%的行業增長率相比，該公司的增長數位更高。
Earnings growth is a huge factor in stock valuation. 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 Qian Jiang Water Resources DevelopmentLtd is trading on a high P/E or a low P/E, relative to its industry.
盈利增長是股票估值的一個重要因素。投資者應該嘗試確定預期的收益增長或下降是否已計入價格，無論是哪種情況。這有助於他們確定這只股票是為光明還是黯淡的未來做準備。衡量預期收益增長的一個很好的指標是本益比，它根據一隻股票的盈利前景決定市場願意為其支付的價格。因此，你可能想看看錢江水利開發有限公司相對於其行業是高本益比還是低本益比。
Is Qian Jiang Water Resources DevelopmentLtd Efficiently Re-investing Its Profits?
錢江水利開發有限公司的利潤是否得到了有效的再投資？
Qian Jiang Water Resources DevelopmentLtd has a three-year median payout ratio of 31% (where it is retaining 69% of its income) which is not too low or not too high. So it seems that Qian Jiang Water Resources DevelopmentLtd is reinvesting efficiently in a way that it sees impressive growth in its earnings (discussed above) and pays a dividend that's well covered.
錢江水利開發有限公司的三年中值派息率為31%(該公司保留了69%的收入)，這不是太低也不是太高。因此，錢江水利開發有限公司似乎正在以一種高效的再投資方式進行再投資，它看到了令人印象深刻的收益增長(如上所述)，並支付了充分覆蓋的股息。
Besides, Qian Jiang Water Resources DevelopmentLtd has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders.
此外，錢江水利開發有限公司至少在十年或更長時間裡一直在分紅。這表明該公司致力於與股東分享利潤。
Summary
摘要
Overall, we feel that Qian Jiang Water Resources DevelopmentLtd certainly does have some positive factors to consider. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. Our risks dashboard would have the 2 risks we have identified for Qian Jiang Water Resources DevelopmentLtd.
總體而言，我們認為錢江水利發展有限公司確實有一些積極的因素需要考慮。儘管回報率很低，但由於對業務進行了大量再投資，該公司實現了令人印象深刻的收益增長。雖然我們不會完全解僱這家公司，但我們要做的是努力確定這項業務在公司周圍做出更明智的決定的風險有多大。我們的風險儀錶板將包含我們為錢江水利開發有限公司確定的兩個風險。
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本文由Simply Wall St.撰寫，具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論，我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議，也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意，我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.
譯文內容由第三人軟體翻譯。