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Shenzhen SunXing Light Alloys Materials Co.,Ltd.'s (SHSE:603978) Financials Are Too Obscure To Link With Current Share Price Momentum: What's In Store For the Stock?
Shenzhen SunXing Light Alloys Materials Co.,Ltd.'s (SHSE:603978) Financials Are Too Obscure To Link With Current Share Price Momentum: What's In Store For the Stock?
Most readers would already be aware that Shenzhen SunXing Light Alloys MaterialsLtd's (SHSE:603978) stock increased significantly by 24% over the past month. But the company's key financial indicators appear to be differing across the board and that makes us question whether or not the company's current share price momentum can be maintained. Particularly, we will be paying attention to Shenzhen SunXing Light Alloys MaterialsLtd's ROE today.
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
View our latest analysis for Shenzhen SunXing Light Alloys MaterialsLtd
How Do You Calculate Return On Equity?
The formula for ROE is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Shenzhen SunXing Light Alloys MaterialsLtd is:
2.6% = CN¥48m ÷ CN¥1.8b (Based on the trailing twelve months to March 2022).
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.03.
What Has ROE Got To Do With Earnings Growth?
So far, we've learned that ROE is a measure of a company's profitability. 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.
A Side By Side comparison of Shenzhen SunXing Light Alloys MaterialsLtd's Earnings Growth And 2.6% ROE
As you can see, Shenzhen SunXing Light Alloys MaterialsLtd's ROE looks pretty weak. Even compared to the average industry ROE of 9.3%, the company's ROE is quite dismal. Given the circumstances, the significant decline in net income by 26% seen by Shenzhen SunXing Light Alloys MaterialsLtd over the last five years is not surprising. We reckon that there could also be other factors at play here. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.
However, when we compared Shenzhen SunXing Light Alloys MaterialsLtd's growth with the industry we found that while the company's earnings have been shrinking, the industry has seen an earnings growth of 17% in the same period. This is quite worrisome.
SHSE:603978 Past Earnings Growth July 4th 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). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Shenzhen SunXing Light Alloys MaterialsLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
Is Shenzhen SunXing Light Alloys MaterialsLtd Efficiently Re-investing Its Profits?
While the company did payout a portion of its dividend in the past, it currently doesn't pay a dividend. This implies that potentially all of its profits are being reinvested in the business.
Conclusion
Overall, we have mixed feelings about Shenzhen SunXing Light Alloys MaterialsLtd. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. Our risks dashboard would have the 4 risks we have identified for Shenzhen SunXing Light Alloys MaterialsLtd.
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.
Most readers would already be aware that Shenzhen SunXing Light Alloys MaterialsLtd's (SHSE:603978) stock increased significantly by 24% over the past month. But the company's key financial indicators appear to be differing across the board and that makes us question whether or not the company's current share price momentum can be maintained. Particularly, we will be paying attention to Shenzhen SunXing Light Alloys MaterialsLtd's ROE today.
大多数读者应该已经知道,深圳森星轻合金材料有限公司(上交所:603978)的库存在过去一个月里大幅增长了24%。但该公司的关键财务指标似乎在所有方面都不同,这让我们质疑该公司目前的股价势头能否保持下去。今天,我们将特别关注深圳森星轻合金材料有限公司的净资产收益率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股本回报率(ROE)是对一家公司增值和管理投资者资金的效率的测试。简而言之,它衡量的是一家公司相对于股东权益的盈利能力。
View our latest analysis for Shenzhen SunXing Light Alloys MaterialsLtd
查看我们对深圳市森星轻合金材料有限公司的最新分析
How Do You Calculate Return On Equity?
你如何计算股本回报率?
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 Shenzhen SunXing Light Alloys MaterialsLtd is:
因此,根据上述公式,深圳森星轻合金材料有限公司的净资产收益率为:
2.6% = CN¥48m ÷ CN¥1.8b (Based on the trailing twelve months to March 2022).
2.6%=CN元4800万×CN元18亿元(基于截至2022年3月的12个月)。
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.03.
“报税表”是过去12个月的税后收入。因此,这意味着股东每投资1元人民币,公司就会产生0.03元的利润。
What Has ROE Got To Do With Earnings Growth?
净资产收益率与盈利增长有什么关系?
So far, we've learned that ROE is a measure of a company's profitability. 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.
到目前为止,我们了解到净资产收益率是衡量一家公司盈利能力的指标。根据公司将这些利润再投资或“保留”多少,以及这样做的效率如何,我们就能够评估一家公司的收益增长潜力。假设其他条件相同,与没有相同特征的公司相比,拥有更高股本回报率和更高利润保留率的公司通常会有更高的增长率。
A Side By Side comparison of Shenzhen SunXing Light Alloys MaterialsLtd's Earnings Growth And 2.6% ROE
深圳森星轻合金材料有限公司盈利增长与净资产收益率2.6%的并列比较
As you can see, Shenzhen SunXing Light Alloys MaterialsLtd's ROE looks pretty weak. Even compared to the average industry ROE of 9.3%, the company's ROE is quite dismal. Given the circumstances, the significant decline in net income by 26% seen by Shenzhen SunXing Light Alloys MaterialsLtd over the last five years is not surprising. We reckon that there could also be other factors at play here. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.
如你所见,深圳森星轻合金材料有限公司的净资产收益率看起来相当疲软。即使与9.3%的行业平均净资产收益率相比,该公司的净资产收益率也相当惨淡。在这种情况下,深圳森星轻合金材料有限公司在过去五年中净收入大幅下降26%也就不足为奇了。我们认为,可能还有其他因素在起作用。例如,企业的资本配置不佳,或者公司的派息率非常高。
However, when we compared Shenzhen SunXing Light Alloys MaterialsLtd's growth with the industry we found that while the company's earnings have been shrinking, the industry has seen an earnings growth of 17% in the same period. This is quite worrisome.
然而,当我们将深圳森星轻合金材料有限公司的增长与行业进行比较时发现,尽管该公司的收益一直在缩水,但同期该行业的收益增长了17%。这相当令人担忧。
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). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Shenzhen SunXing Light Alloys MaterialsLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
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)。通过这样做,他们将知道股票是将进入清澈的蓝色水域,还是等待沼泽水域。与其他公司相比,深圳森星轻合金材料有限公司的价值是否公平?这3个估值指标可能会帮助你做出决定。
Is Shenzhen SunXing Light Alloys MaterialsLtd Efficiently Re-investing Its Profits?
深圳森星轻合金材料有限公司是否有效地将利润再投资?
While the company did payout a portion of its dividend in the past, it currently doesn't pay a dividend. This implies that potentially all of its profits are being reinvested in the business.
虽然该公司过去确实支付了一部分股息,但目前它不支付股息。这意味着,它的所有利润可能都将再投资于该业务。
Conclusion
结论
Overall, we have mixed feelings about Shenzhen SunXing Light Alloys MaterialsLtd. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. Our risks dashboard would have the 4 risks we have identified for Shenzhen SunXing Light Alloys MaterialsLtd.
总体而言,我们对深圳市森星轻合金材料有限公司有复杂的感情。尽管它似乎保留了大部分利润,但鉴于净资产收益率较低,投资者可能终究不会从所有这些再投资中受益。低收益增长率表明我们的理论是正确的。总而言之,我们将谨慎对待这家公司,其中一种方法是查看业务的风险概况。我们的风险仪表板将包含我们为深圳森星轻合金材料有限公司确定的4个风险。
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。
本文由Simply Wall St.撰写,具有概括性。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。Simply Wall St.对上述任何一只股票都没有持仓。
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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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