Is Weakness In Kanzhun Limited (NASDAQ:BZ) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
Is Weakness In Kanzhun Limited (NASDAQ:BZ) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
With its stock down 12% over the past month, it is easy to disregard Kanzhun (NASDAQ:BZ). However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Specifically, we decided to study Kanzhun's ROE in this article.
Kanzhun（納斯達克股票代號：BZ）上個月股價下跌12%，可能被市場忽略。然而，股價通常長期由公司財務表現驅動，在這種情況下看起來相當有前途。我們在本文中決定研究Kanzhun的roe。
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.
ROE或股東權益報酬率是一種有用的工具，用於評估一家公司能否有效地利用來自股東的投資產生回報。換句話說，它揭示了公司將股東的投資變成利潤的成功程度。
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 Kanzhun is:
因此，根據上述公式，Kanzhun的roe爲：
9.3% = CN¥1.3b ÷ CN¥14b (Based on the trailing twelve months to March 2024).
9.3% = CN¥ 1.3b ÷ CN¥ 14b（以2024年3月的過去12個月爲基礎）
The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.09.
“回報”是年利潤。這意味着對於股東的每1美元投資，該公司可以創造0.09美元的利潤。
Why Is ROE Important For Earnings Growth?
ROE對於盈利增長的重要性是什麼？
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 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.
我們已經確定，roe是一個有效的利潤生成衡量標準，用於評估公司未來的盈利能力。根據公司再投資或“保留”這些利潤的比例以及這樣做的有效性，我們能夠評估公司的盈利增長潛力。假設其他所有因素保持不變，roe和利潤保留的比例越高，相對於沒有這些特徵的公司，公司的增長率就越高。
Kanzhun's Earnings Growth And 9.3% ROE
Kanzhun的淨利潤增長和9.3%的roe
On the face of it, Kanzhun's ROE is not much to talk about. However, the fact that the its ROE is quite higher to the industry average of 7.4% doesn't go unnoticed by us. Particularly, the substantial 75% net income growth seen by Kanzhun 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. Hence, there might be some other aspects that are causing earnings to grow. Such as- high earnings retention or the company belonging to a high growth industry.
從表面上看，Kanzhun的roe沒有太多討論的價值。然而，事實是，它的roe相當高，高於行業平均水平7.4%的平均水平，並且我們注意到Kanzhun在過去五年中實現了75%的淨利潤增長，這是令人印象深刻的。話雖如此，該公司的roe略低於行業平均水平，只是高於行業平均水平。因此，可能還有一些其他方面導致收益增長。例如高收益保留或公司歸屬於高增長行業。
Next, on comparing with the industry net income growth, we found that Kanzhun's growth is quite high when compared to the industry average growth of 6.0% in the same period, which is great to see.
接下來，我們發現與同一期間行業淨利潤增長相比，Kanzhun的增長要高得多，這非常令人高興。
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. Is BZ fairly valued? This infographic on the company's intrinsic value has everything you need to know.
盈利增長是股票估值的重要因素。投資者知道市場是否已經定價了公司預期的盈利增長（或下降）至關重要。這有助於他們判斷股票是面臨光明還是黯淡的未來。BZ的估值合理嗎？ 這張公司內在價值的信息圖包含您需要了解的所有信息。
Is Kanzhun Using Its Retained Earnings Effectively?
Kanzhun是否有效利用其保留收益？
Kanzhun doesn't pay any regular dividends currently which essentially means that it has been reinvesting all of its profits into the business. This definitely contributes to the high earnings growth number that we discussed above.
目前Kanzhun沒有支付任何常規股息，這基本上意味着它一直在將所有利潤再投資到業務中。這無疑有助於高收益增長率的實現。
Conclusion
結論
In total, we are pretty happy with Kanzhun's performance. Specifically, we like that it has been reinvesting a high portion of its profits at a moderate rate of return, resulting in earnings expansion. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
總體而言，我們對Kanzhun的表現感到非常滿意。具體而言，我們喜歡它以適度的回報率將高比例的利潤再投資，從而實現了收益擴張。話雖如此，預計該公司的盈利增長將放緩，這已在當前分析師預測中進行了預測。這些分析師的期望是基於行業的普遍預期，還是基於公司的基本面？點擊這裏進入我們的分析師預測頁面了解更多信息。
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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.
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者，發送電子郵件至editorial-team (at) simplywallst.com。
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。