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Declining Stock and Solid Fundamentals: Is The Market Wrong About CETC Acoustic-Optic-Electronic Technology Inc. (SHSE:600877)?
Declining Stock and Solid Fundamentals: Is The Market Wrong About CETC Acoustic-Optic-Electronic Technology Inc. (SHSE:600877)?
It is hard to get excited after looking at CETC Acoustic-Optic-Electronic Technology's (SHSE:600877) recent performance, when its stock has declined 14% over the past three months. 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. Specifically, we decided to study CETC Acoustic-Optic-Electronic Technology's ROE in this article.
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 simpler terms, it measures the profitability of a company in relation to shareholder's equity.
View our latest analysis for CETC Acoustic-Optic-Electronic Technology
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 CETC Acoustic-Optic-Electronic Technology is:
11% = CN¥212m ÷ CN¥1.9b (Based on the trailing twelve months to December 2021).
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¥0.11.
What Is The Relationship Between ROE And Earnings Growth?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
CETC Acoustic-Optic-Electronic Technology's Earnings Growth And 11% ROE
On the face of it, CETC Acoustic-Optic-Electronic Technology's ROE is not much to talk about. However, the fact that the company's ROE is higher than the average industry ROE of 8.8%, is definitely interesting. Particularly, the substantial 29% net income growth seen by CETC Acoustic-Optic-Electronic Technology 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. 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.
Next, on comparing with the industry net income growth, we found that CETC Acoustic-Optic-Electronic Technology's growth is quite high when compared to the industry average growth of 10% in the same period, which is great to see.
SHSE:600877 Past Earnings Growth July 18th 2022Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. 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 CETC Acoustic-Optic-Electronic Technology's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
Is CETC Acoustic-Optic-Electronic Technology Making Efficient Use Of Its Profits?
CETC Acoustic-Optic-Electronic Technology doesn't pay any dividend to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
Summary
Overall, we are quite pleased with CETC Acoustic-Optic-Electronic Technology's performance. Particularly, we like that the company is reinvesting heavily into its business at a moderate rate of return. Unsurprisingly, this has led to an impressive earnings growth. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. 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.
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.
在看到中电声光电子科技(SHSE:600877)最近的表现后,很难感到兴奋,它的股票在过去三个月里下跌了14%。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。具体地说,我们决定在本文中研究CETC声光电子技术的净资产收益率。
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,它衡量的是一家公司相对于股东权益的盈利能力。
查看我们对CETC声光电技术的最新分析
净资产收益率是如何计算的?
这个净资产收益率公式是:
股本回报率=(持续经营的)净利润?股东权益
因此,根据上述公式,CETC声光电技术的净资产收益率为:
11%=CN元2.12亿×CN元19亿元(基于截至2021年12月的12个月)。
“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0.11元的利润。
净资产收益率与盈利增长之间有什么关系?
到目前为止,我们已经了解到净资产收益率衡量的是一家公司创造利润的效率。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。一般来说,在其他条件相同的情况下,股本回报率和利润留存较高的公司比不具备这些特征的公司有更高的增长率。
中电声光电子技术盈利增长和11%的净资产收益率
从表面上看,中电声光电子技术的净资产收益率(ROE)并不值得谈论。然而,该公司的净资产收益率高于行业平均8.8%的净资产收益率,这绝对是有趣的。特别是,CETC声光电子技术在过去五年中实现了29%的净收入大幅增长,令人印象深刻。话虽如此,该公司一开始的净资产收益率确实略低,只是高于行业平均水平。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。
接下来,对比行业净收入增长,我们发现CETC声光电子技术的增长与同期10%的行业平均增长相比是相当高的,这是令人欣喜的。
上海证券交易所:过去600877的收益增长2022年7月18日盈利增长是评估一只股票时需要考虑的一个重要指标。投资者应该尝试确定预期的收益增长或下降是否已计入价格,无论是哪种情况。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。如果你想知道CETC声光电子技术的估值,看看这个衡量其市盈率的指标,与其行业相比。
CETC声光电子技术是否有效利用其利润?
CETC声光电子技术公司不向股东支付任何股息,这意味着该公司一直在将所有利润再投资于该业务。这很可能是推动上述高收益增长数字的原因。
摘要
总体而言,我们对CETC声光电子技术的表现相当满意。特别是,我们喜欢该公司以适度的回报率对其业务进行大量再投资。不出所料,这导致了令人印象深刻的收益增长。最新的行业分析师预测显示,该公司有望保持目前的增长速度。这些分析师的预期是基于对该行业的广泛预期,还是基于该公司的基本面?点击此处进入我们分析师对该公司的预测页面。
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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