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Could The Market Be Wrong About Tencent Holdings Limited (HKG:700) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About Tencent Holdings Limited (HKG:700) Given Its Attractive Financial Prospects?
It is hard to get excited after looking at Tencent Holdings' (HKG:700) recent performance, when its stock has declined 14% over the past month. 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. Particularly, we will be paying attention to Tencent Holdings' ROE today.
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Put another way, it reveals the company's success at turning shareholder investments into profits.
See our latest analysis for Tencent Holdings
How Is ROE Calculated?
The formula for return on equity is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Tencent Holdings is:
24% = CN¥203b ÷ CN¥845b (Based on the trailing twelve months to March 2022).
The 'return' refers to a company's earnings over the last year. So, this means that for every HK$1 of its shareholder's investments, the company generates a profit of HK$0.24.
What Has ROE Got To Do With Earnings Growth?
So far, we've learned that ROE is a measure of a company's profitability. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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.
A Side By Side comparison of Tencent Holdings' Earnings Growth And 24% ROE
First thing first, we like that Tencent Holdings has an impressive ROE. Second, a comparison with the average ROE reported by the industry of 9.2% also doesn't go unnoticed by us. As a result, Tencent Holdings' exceptional 28% net income growth seen over the past five years, doesn't come as a surprise.
We then compared Tencent Holdings' 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 23% in the same period.
SEHK:700 Past Earnings Growth July 25th 2022Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. Is 700 fairly valued? This infographic on the company's intrinsic value has everything you need to know.
Is Tencent Holdings Making Efficient Use Of Its Profits?
Tencent Holdings has a really low three-year median payout ratio of 8.3%, meaning that it has the remaining 92% left over to reinvest into its business. So it looks like Tencent Holdings is reinvesting profits heavily to grow its business, which shows in its earnings growth.
Besides, Tencent Holdings has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 9.7% of its profits over the next three years. Regardless, Tencent Holdings' ROE is speculated to decline to 14% despite there being no anticipated change in its payout ratio.
Summary
In total, we are pretty happy with Tencent Holdings' performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts 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.
看到腾讯控股控股(HKG:700)最近的表现,很难感到兴奋,其股价在过去一个月里下跌了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。今天我们特别关注腾讯控股控股的净资产收益率。
股本回报率或净资产收益率是股东要考虑的一个重要因素,因为它告诉他们他们的资本再投资的效率。换句话说,它揭示了该公司成功地将股东投资转化为利润。
查看我们对腾讯控股控股的最新分析
净资产收益率是如何计算的?
这个股本回报率公式是:
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,腾讯控股控股的净资产收益率为:
24%=CN元2030亿×CN元845亿(以截至2022年3月的12个月为基础)。
“回报”指的是一家公司过去一年的收益。因此,这意味着股东每投资1港元,公司就会产生0.24港元的利润。
净资产收益率与盈利增长有什么关系?
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。我们现在需要评估公司将多少利润再投资或“保留”用于未来的增长,这就让我们对公司的增长潜力有了一个了解。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。
腾讯控股控股盈利增长与净资产收益率24%的并列比较
首先,我们喜欢腾讯控股控股令人印象深刻的净资产收益率。其次,与行业报告的9.2%的平均净资产收益率相比,我们也不是没有注意到。因此,腾讯控股控股在过去五年中实现了28%的超常规净利润增长,这并不令人意外。
然后我们将腾讯控股控股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23%的行业增长率相比,该公司的增长数字更高。
联交所:700过去的盈利增长2022年7月25日盈利增长是评估一只股票时需要考虑的一个重要指标。投资者下一步需要确定的是,预期的收益增长是否已经计入了股价。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。700美元的价值公平吗?这张关于公司内在价值的信息图包含了你需要知道的一切。
腾讯控股控股是否在有效利用其利润?
腾讯控股控股的三年中值派息率非常低,只有8.3%,这意味着它还有剩余的92%可以再投资于自己的业务。因此,看起来腾讯控股控股正在大举投资利润以实现业务增长,这一点从其盈利增长中可见一斑。
此外,腾讯控股控股至少已有十年甚至更长时间的分红历史。这表明该公司致力于与股东分享利润。在研究了最新的分析师共识数据后,我们发现,预计该公司在未来三年将继续支付约9.7%的利润。无论如何,腾讯控股控股的净资产收益率预计将降至14%,尽管其派息率没有预期的变化。
摘要
总体而言,我们对腾讯控股控股的表现相当满意。特别是,我们喜欢该公司对其业务进行大量再投资,并以高回报率进行投资。不出所料,这导致了令人印象深刻的收益增长。既然如此,一项对最新分析师预测的研究表明,预计该公司未来的收益增长将放缓。要了解更多分析师对该公司的最新预测,请查看分析师对该公司预测的可视化。
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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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。
风险及免责提示
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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