Is Weakness In Hunan Haili Chemical Industry Co.,Ltd. (SHSE:600731) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
Is Weakness In Hunan Haili Chemical Industry Co.,Ltd. (SHSE:600731) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
It is hard to get excited after looking at Hunan Haili Chemical IndustryLtd's (SHSE:600731) recent performance, when its stock has declined 21% over the past month. 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. Particularly, we will be paying attention to Hunan Haili Chemical IndustryLtd's ROE today.
看了湖南海立化工有限公司(SHSE: 600731)最近的表現,很難感到興奮,當時該公司的股票在過去一個月中下跌了21%。但是,如果你密切關注,你可能會發現,鑑於市場通常會獎勵財務狀況良好的公司,其強勁的財務狀況可能意味着該股的長期價值可能會增加。特別是,我們今天將關注湖南海立化工有限公司的投資回報率。
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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
投資回報率或股本回報率是評估公司如何有效地從股東那裏獲得投資回報的有用工具。換句話說,它是衡量公司股東提供的資本回報率的盈利比率。
How Is ROE Calculated?
ROE 是如何計算的?
The formula for return on equity is:
股本回報率的公式是:
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 Hunan Haili Chemical IndustryLtd is:
因此,根據上述公式,湖南海立化工有限公司的投資回報率爲:
10% = CN¥323m ÷ CN¥3.1b (Based on the trailing twelve months to September 2023).
10% = 3.23億元人民幣 ÷ 31億元人民幣(基於截至2023年9月的過去十二個月)。
The 'return' refers to a company's earnings over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.10.
“回報” 是指公司去年的收益。因此,這意味着其股東每投資1元人民幣,公司就會產生0.10元人民幣的利潤。
What Is The Relationship Between ROE And Earnings Growth?
投資回報率與收益增長之間有什麼關係?
So far, we've learned that ROE is a measure of a company's profitability. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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,投資回報率是衡量公司盈利能力的指標。現在,我們需要評估公司再投資或 “保留” 了多少利潤以用於未來的增長,從而使我們對公司的增長潛力有所了解。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。
Hunan Haili Chemical IndustryLtd's Earnings Growth And 10% ROE
湖南海立化工有限公司的收益增長和10%的投資回報率
At first glance, Hunan Haili Chemical IndustryLtd's ROE doesn't look very promising. However, the fact that the its ROE is quite higher to the industry average of 6.9% doesn't go unnoticed by us. Particularly, the substantial 23% net income growth seen by Hunan Haili Chemical IndustryLtd over the past five years is impressive . That being said, the company does have a slightly low ROE to begin with, just that it is higher than the industry average. Therefore, the growth in earnings could also be the result of other factors. Such as- high earnings retention or the company belonging to a high growth industry.
乍一看,湖南海立化工有限公司的投資回報率看起來並不十分樂觀。但是,其投資回報率遠高於行業平均水平的6.9%,這一事實並沒有被我們忽視。特別是,湖南海立化工有限公司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。話雖如此,該公司的投資回報率一開始確實略低,只是高於行業平均水平。因此,收益的增長也可能是其他因素的結果。例如-高收益留存率或屬於高增長行業的公司。
Next, on comparing with the industry net income growth, we found that Hunan Haili Chemical IndustryLtd's growth is quite high when compared to the industry average growth of 12% in the same period, which is great to see.
接下來,與行業淨收入增長相比,我們發現,湖南海立化工有限公司的增長與同期12%的行業平均增長率相比相當高,這真是太好了。
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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. 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 Hunan Haili Chemical IndustryLtd is trading on a high P/E or a low P/E, relative to its industry.
收益增長是股票估值的重要因素。無論情況如何,投資者都應設法確定預期的收益增長或下降是否已計入其中。通過這樣做,他們將知道股票是走向清澈的藍色海水,還是沼澤的水域在等着你。衡量預期收益增長的一個很好的指標是市盈率,它根據收益前景決定了市場願意爲股票支付的價格。因此,您可能需要檢查湖南海立化工有限公司相對於該行業的市盈率是高還是低。
Is Hunan Haili Chemical IndustryLtd Efficiently Re-investing Its Profits?
湖南海立化工有限公司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. This is likely what's driving the high earnings growth number discussed above.
儘管該公司過去確實支付了部分股息,但目前不支付股息。這可能是推動上述高收益增長數字的原因。
Summary
摘要
In total, we are pretty happy with Hunan Haili Chemical IndustryLtd's performance. Particularly, we like that the company is reinvesting heavily into its business at a moderate rate of return. Unsurprisingly, this has led to an impressive earnings growth. 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. Remember, the price of a stock is also dependent on the perceived risk. Therefore investors must keep themselves informed about the risks involved before investing in any company. You can see the 2 risks we have identified for Hunan Haili Chemical IndustryLtd by visiting our risks dashboard for free on our platform here.
總的來說,我們對湖南海立化工有限公司的表現非常滿意。特別是,我們喜歡該公司以適度的回報率對其業務進行大量再投資。毫不奇怪,這帶來了令人印象深刻的收益增長。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。請記住,股票的價格還取決於感知的風險。因此,在投資任何公司之前,投資者必須隨時了解所涉及的風險。您可以訪問我們的 2 種風險來查看我們爲湖南海立化工有限公司確定的兩種風險 風險儀表板 在我們的平台上免費使用。
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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。