Is Jardine Cycle & Carriage Limited's (SGX:C07) Recent Stock Performance Tethered To Its Strong Fundamentals?
Is Jardine Cycle & Carriage Limited's (SGX:C07) Recent Stock Performance Tethered To Its Strong Fundamentals?
Jardine Cycle & Carriage's (SGX:C07) stock is up by a considerable 16% over the past three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. Particularly, we will be paying attention to Jardine Cycle & Carriage's ROE today.
過去三個月，新加坡交易所C07的股價上漲了可觀的16%。由於市場通常關注公司的長期基本面，我們決定研究該公司的關鍵業務因子，以確定其是否會影響市場。尤其是，我們將重點關注Jardine Cycle & Carriage的roe指標。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股本回報率或roe是評估公司管理層如何有效利用公司資本的關鍵指標。簡而言之，ROE顯示每美元股東投資所產生的利潤。
How Do You Calculate Return On Equity?
怎樣計算ROE?
The formula for return on equity is:
權益回報率的計算公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤（從持續經營中獲得）÷ 股東權益
So, based on the above formula, the ROE for Jardine Cycle & Carriage is:
因此，根據以上公式，Jardine Cycle & Carriage的ROE爲:
17% = US$3.0b ÷ US$18b (Based on the trailing twelve months to December 2023).
17％= 30億美元 ÷ 180億美元（截至2023年12月的過去十二個月）。
The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each SGD1 of shareholders' capital it has, the company made SGD0.17 in profit.
“回報”是指過去十二個月的稅後收益。有一種概念是，對於每SGD1的股東資本，公司的利潤爲SGD0.17。
What Is The Relationship Between ROE And Earnings Growth?
既然我們已經確定ROE是一種有效的利潤生成標準，用於評估公司未來的盈利能力，我們現在需要評估公司“保留”爲未來增長而重新投資的利潤多少，這使我們對公司的增長潛力有了一個了解。一般而言，在其他條件相等的情況下，ROE和利潤留存高的公司，增長率比沒有這些屬性的公司要高。
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.
因此，我們已經了解到ROE衡量公司如何高效地創造利潤。根據公司重新投資或“保留”的利潤數量以及其有效性，我們隨後能夠評估公司的收益增長潛力。假設其他所有因素均保持不變，則ROE和利潤保留率越高，相對於不一定具備這些特徵的公司，公司的增長率就越高。
A Side By Side comparison of Jardine Cycle & Carriage's Earnings Growth And 17% ROE
Jardine Cycle & Carriage的盈利增長和17％的ROE對比表格如下：
To begin with, Jardine Cycle & Carriage seems to have a respectable ROE. Especially when compared to the industry average of 7.9% the company's ROE looks pretty impressive. This certainly adds some context to Jardine Cycle & Carriage's decent 11% net income growth seen over the past five years.
首先，Jardine Cycle & Carriage的roe看起來很不錯。特別是與業內平均水平7.9％相比，該公司的ROE看起來非常出色。這確實爲Jardine Cycle & Carriage過去五年中可觀的11％淨利潤增長提供了一定的背景。
As a next step, we compared Jardine Cycle & Carriage's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 14% in the same period.
作爲下一步，我們將Jardine Cycle & Carriage的淨利潤增長與行業相比較，並發現該公司在同一期間內的增長率與行業平均增長率14％相似。
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. What is C07 worth today? The intrinsic value infographic in our free research report helps visualize whether C07 is currently mispriced by the market.
爲一家公司附加價值的基礎在很大程度上與其盈利增長相關。投資者應該嘗試確定預期的盈利增長或下降（無論哪種情況）是否已經被定價。這有助於他們確定股票是處於光明還是黯淡的未來。C07今天值多少錢？我們免費研究報告中的內在價值信息圖表幫助了解C07是否被市場錯價。
Is Jardine Cycle & Carriage Making Efficient Use Of Its Profits?
Jardine Cycle & Carriage是否在高效利用利潤？
Jardine Cycle & Carriage has a healthy combination of a moderate three-year median payout ratio of 44% (or a retention ratio of 56%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.
Jardine Cycle & Carriage具有中等三年中位數派息比率爲44％（或保留比率爲56％）和適量的盈利增長的良好組合，這意味着公司一直在高效利用其利潤。
Moreover, Jardine Cycle & Carriage is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 40% of its profits over the next three years. Still, forecasts suggest that Jardine Cycle & Carriage's future ROE will drop to 13% even though the the company's payout ratio is not expected to change by much.
此外，Jardine Cycle & Carriage決心與股東分享其利潤，我們從其連續十年支付股息的悠久歷史中推斷出這一點。在研究最新的分析師共識數據時，我們發現該公司預計在未來三年中將繼續支付其利潤的大約40％。然而，預測顯示，即使公司的分紅比率不會有太大變化，Jardine Cycle & Carriage未來的roe也將下降到13％。
Summary
總的來說，我們對偉明環保的表現非常滿意。具體而言，我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然，這導致公司的收益大幅增長。但是，最新的行業分析師預測表明，該公司的收益預計將加速增長。
On the whole, we feel that Jardine Cycle & Carriage's performance has been quite good. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. Having said that, on studying current analyst estimates, we were concerned to see that while the company has grown its earnings in the past, analysts expect its earnings to shrink in the future. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總的來說，我們認爲Jardine Cycle & Carriage的表現相當不錯。特別是，看到公司正在大力投資其業務，並且具有高回報率，這導致了其收益的相當大增長。話雖如此，在研究當前分析師估計時，我們擔心看到儘管該公司過去幾年實現了盈利增長，但分析師預計其盈利將在未來收縮。要了解有關公司最新分析師預測的更多信息，請查看此可視化的分析師預測。
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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譯文內容由第三人軟體翻譯。