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Shenzhen Newway Photomask Making Co., Ltd's (SHSE:688401) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?

Shenzhen Newway Photomask Making Co., Ltd's (SHSE:688401) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?

深圳纽威光电掩模制造有限公司(SHSE: 688401)的基本面看起来相当强劲:市场会不会对这只股票有误?
Simply Wall St ·  04/22 08:08

It is hard to get excited after looking at Shenzhen Newway Photomask Making's (SHSE:688401) recent performance, when its stock has declined 12% over the past month. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. In this article, we decided to focus on Shenzhen Newway Photomask Making's ROE.

看了深圳纽威光电制造公司(上海证券交易所代码:688401)最近的表现,很难感到兴奋,当时其股票在过去一个月中下跌了12%。但是,仔细观察其稳健的财务状况可能会让你重新考虑。鉴于基本面通常会推动长期市场业绩,因此该公司值得关注。在这篇文章中,我们决定重点介绍深圳新威光掩模制造的投资回报率。

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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

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。换句话说,它是衡量公司股东提供的资本回报率的盈利比率。

How Is ROE Calculated?

ROE 是如何计算的?

ROE can be calculated by using the formula:

ROE 可以通过以下公式计算:

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 Shenzhen Newway Photomask Making is:

因此,根据上述公式,深圳Neway Photomask Making的投资回报率为:

10% = CN¥152m ÷ CN¥1.5b (Based on the trailing twelve months to December 2023).

10% = 1.52亿元人民币 ÷ 15亿元人民币(基于截至2023年12月的过去十二个月)。

The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.10 in profit.

“回报” 是过去十二个月的税后收入。将其概念化的一种方法是,每拥有1元人民币的股东资本,公司的利润为0.10元人民币。

What Has ROE Got To Do With Earnings Growth?

投资回报率与收益增长有什么关系?

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. 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.

我们已经确定,投资回报率是衡量公司未来收益的有效盈利指标。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。假设其他条件都一样,与功能不相同的公司相比,具有更高股本回报率和更高利润保留率的公司通常具有更高的增长率。

Shenzhen Newway Photomask Making's Earnings Growth And 10% ROE

深圳新威光电制造公司的收益增长和10%的投资回报率

On the face of it, Shenzhen Newway Photomask Making's ROE is not much to talk about. However, the fact that the its ROE is quite higher to the industry average of 6.3% doesn't go unnoticed by us. Particularly, the substantial 46% net income growth seen by Shenzhen Newway Photomask Making 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. Therefore, the growth in earnings could also be the result of other factors. E.g the company has a low payout ratio or could belong to a high growth industry.

从表面上看,深圳新威光电掩模制造的投资回报率没什么好谈的。但是,其投资回报率远高于行业平均水平的6.3%,这一事实并没有被我们忽视。特别是,深圳纽威光电掩模制造公司在过去五年中实现了46%的净收入大幅增长,这令人印象深刻。请记住,该公司的投资回报率确实适度低。只是行业的投资回报率较低。因此,收益的增长也可能是其他因素的结果。例如,该公司的派息率较低,或者可能属于高增长行业。

We then compared Shenzhen Newway Photomask Making'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 8.8% in the same 5-year period.

然后,我们将深圳新威光电制造公司的净收入增长与该行业进行了比较,我们很高兴地看到,与同期同期8.8%的行业相比,该公司的增长数字更高。

past-earnings-growth
SHSE:688401 Past Earnings Growth April 22nd 2024
SHSE: 688401 过去的收益增长 2024 年 4 月 22 日

Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. If you're wondering about Shenzhen Newway Photomask Making's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

收益增长是对股票进行估值时要考虑的重要指标。对于投资者来说,重要的是要知道市场是否对公司的预期收益增长(或下降)进行了定价。通过这样做,他们将知道股票是走向清澈的蓝色海水还是沼泽水域在等着呢。如果你想知道深圳新威光电制造公司的估值,可以看看这个衡量其市盈率与行业相比的指标。

Is Shenzhen Newway Photomask Making Making Efficient Use Of Its Profits?

深圳新威光电掩模是否在有效利用其利润?

Shenzhen Newway Photomask Making's ' three-year median payout ratio is on the lower side at 20% implying that it is retaining a higher percentage (80%) of its profits. So it seems like the management is reinvesting profits heavily to grow its business and this reflects in its earnings growth number.

深圳新威光电制造公司的 “三年中位数派息率” 处于较低水平,为20%,这意味着它保留了更高的利润百分比(80%)。因此,管理层似乎正在将利润大量再投资以发展业务,这反映在其收益增长数字上。

While Shenzhen Newway Photomask Making has been growing its earnings, it only recently started to pay dividends which likely means that the company decided to impress new and existing shareholders with a dividend. Our latest analyst data shows that the future payout ratio of the company over the next three years is expected to be approximately 20%. Regardless, the future ROE for Shenzhen Newway Photomask Making is predicted to rise to 15% despite there being not much change expected in its payout ratio.

尽管深圳新威光电制造公司的收益一直在增长,但它直到最近才开始派发股息,这可能意味着该公司决定通过分红来打动新老股东。我们最新的分析师数据显示,公司未来三年的派息率预计约为20%。无论如何,尽管预计其派息率没有太大变化,但深圳新威光电制造公司的未来投资回报率预计将上升至15%。

Conclusion

结论

Overall, we are quite pleased with Shenzhen Newway Photomask Making'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. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.

总的来说,我们对深圳新威光掩模制造的表现感到非常满意。特别是,很高兴看到该公司的收益在可观的投资回报率和高再投资率的支持下实现了显著增长。话虽如此,正如分析师目前的估计所预测的那样,该公司的收益增长预计将放缓。要了解有关公司未来收益增长预测的更多信息,请查看这份关于分析师预测的免费报告,以了解更多信息。

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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.

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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

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