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Is Weakness In SG Micro Corp (SZSE:300661) Stock A Sign That The Market Could be Wrong Given Its Strong Financial Prospects?
Is Weakness In SG Micro Corp (SZSE:300661) Stock A Sign That The Market Could be Wrong Given Its Strong Financial Prospects?
With its stock down 13% over the past month, it is easy to disregard SG Micro (SZSE:300661). 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 SG Micro's ROE.
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
Check out our latest analysis for SG Micro
How Is ROE Calculated?
The formula for ROE is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for SG Micro is:
32% = CN¥873m ÷ CN¥2.7b (Based on the trailing twelve months to March 2022).
The 'return' is the profit 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¥0.32 in profit.
What Is The Relationship Between ROE And Earnings Growth?
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 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.
SG Micro's Earnings Growth And 32% ROE
To begin with, SG Micro has a pretty high ROE which is interesting. Secondly, even when compared to the industry average of 9.5% the company's ROE is quite impressive. As a result, SG Micro's exceptional 49% net income growth seen over the past five years, doesn't come as a surprise.
We then compared SG Micro'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 30% in the same period.
SZSE:300661 Past Earnings Growth May 3rd 2022Earnings 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). Doing so will help them establish if the stock's future looks promising or ominous. 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 SG Micro is trading on a high P/E or a low P/E, relative to its industry.
Is SG Micro Efficiently Re-investing Its Profits?
SG Micro's ' three-year median payout ratio is on the lower side at 23% implying that it is retaining a higher percentage (77%) of its profits. So it looks like SG Micro is reinvesting profits heavily to grow its business, which shows in its earnings growth.
Besides, SG Micro has been paying dividends over a period of four years. This shows that the company is committed to sharing profits with its shareholders. Existing analyst estimates suggest that the company's future payout ratio is expected to drop to 15% over the next three years. However, the company's ROE is not expected to change by much despite the lower expected payout ratio.
Conclusion
On the whole, we feel that SG Micro'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, 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.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
With its stock down 13% over the past month, it is easy to disregard SG Micro (SZSE:300661). 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 SG Micro's ROE.
过去一个月,新科电子的股价下跌了13%,人们很容易忽视新科电子(SZSE:300661)。然而,仔细看看它稳健的财务状况可能会让你重新考虑。鉴于基本面因素通常会推动长期市场结果,该公司值得关注。在这篇文章中,我们决定关注SG Micro的净资产收益率(ROE)。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回报率(ROE)是用来评估公司管理层利用公司资本效率的关键指标。简而言之,它是用来评估一家公司相对于其权益资本的盈利能力。
Check out our latest analysis for SG Micro
查看我们对SG Micro的最新分析
How Is ROE Calculated?
净资产收益率是如何计算的?
The formula for ROE is:
这个净资产收益率公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润?股东权益
So, based on the above formula, the ROE for SG Micro is:
因此,根据上述公式,新科微电子的净资产收益率为:
32% = CN¥873m ÷ CN¥2.7b (Based on the trailing twelve months to March 2022).
32%=8.73亿元×27亿元(基于截至2022年3月的12个月)。
The 'return' is the profit 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¥0.32 in profit.
“收益”是过去12个月的利润。将其概念化的一种方法是,公司每拥有1元人民币的股东资本,就会获得0.32元的利润。
What Is The Relationship Between ROE And Earnings Growth?
净资产收益率与盈利增长之间有什么关系?
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 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.
我们已经证实,净资产收益率是一家公司未来收益的有效盈利指标。根据公司选择再投资或“保留”多少利润,我们就能够评估一家公司未来产生利润的能力。假设其他条件不变,净资产收益率和利润保留率越高,与不一定具有这些特征的公司相比,公司的增长率就越高。
SG Micro's Earnings Growth And 32% ROE
新科微电子的盈利增长和32%的净资产收益率
To begin with, SG Micro has a pretty high ROE which is interesting. Secondly, even when compared to the industry average of 9.5% the company's ROE is quite impressive. As a result, SG Micro's exceptional 49% net income growth seen over the past five years, doesn't come as a surprise.
首先,SG Micro拥有相当高的净资产收益率,这一点很有趣。其次,即使与9.5%的行业平均水平相比,该公司的净资产收益率也相当令人印象深刻。因此,过去五年新科电子49%的净利润增长并不令人意外。
We then compared SG Micro'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 30% in the same period.
然后我们将SG Micro的净收入增长与行业进行了比较,我们很高兴地看到,与同期30%的行业增长率相比,该公司的增长数字更高。
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). Doing so will help them establish if the stock's future looks promising or ominous. 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 SG Micro is trading on a high P/E or a low P/E, relative to its industry.
盈利增长是股票估值的一个重要因素。对于投资者来说,重要的是知道市场是否已经消化了公司预期的收益增长(或下降)。这样做将有助于他们确定该股的未来看起来是光明的还是不祥的。衡量预期收益增长的一个很好的指标是市盈率,它根据一只股票的盈利前景决定市场愿意为其支付的价格。因此,你可能想看看SG Micro相对于其行业是高市盈率还是低市盈率。
Is SG Micro Efficiently Re-investing Its Profits?
新科微电子是否有效地对其利润进行了再投资?
SG Micro's ' three-year median payout ratio is on the lower side at 23% implying that it is retaining a higher percentage (77%) of its profits. So it looks like SG Micro is reinvesting profits heavily to grow its business, which shows in its earnings growth.
SG Micro的三年中值派息率为23%,处于较低水平,这意味着该公司将保留较高比例的利润(77%)。因此,看起来SG Micro正在将利润进行大量再投资,以实现业务增长,这从其收益增长中可见一斑。
Besides, SG Micro has been paying dividends over a period of four years. This shows that the company is committed to sharing profits with its shareholders. Existing analyst estimates suggest that the company's future payout ratio is expected to drop to 15% over the next three years. However, the company's ROE is not expected to change by much despite the lower expected payout ratio.
此外,SG Micro在四年的时间里一直在支付股息。这表明该公司致力于与股东分享利润。分析师现有的预估显示,该公司未来三年的派息率预计将降至15%。然而,尽管预期派息率较低,该公司的净资产收益率预计不会有太大变化。
Conclusion
结论
On the whole, we feel that SG Micro'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, 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.
整体而言,我们觉得新科微电子的表现相当不错。特别是,很高兴看到该公司在业务上投入了大量资金,并获得了高回报率,这导致了其收益的可观增长。话虽如此,该公司的盈利增长预计将放缓,正如目前分析师预测的那样。要了解更多有关该公司未来收益增长预测的信息,请查看以下内容免费报告分析师对该公司的预测,以了解更多信息。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
对这篇文章有什么反馈吗?担心内容吗?保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
这篇由《华尔街日报》撰写的文章本质上是笼统的。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。简单地说,华尔街在提到的任何股票中都没有头寸。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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