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Could The Market Be Wrong About SG Micro Corp (SZSE:300661) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About SG Micro Corp (SZSE:300661) Given Its Attractive Financial Prospects?
SG Micro (SZSE:300661) has had a rough three months with its share price down 14%. 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 SG Micro's ROE in this article.
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.
Check out our latest analysis for SG Micro
How To 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 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. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.32 in profit.
What Is The Relationship Between ROE And 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. 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.
A Side By Side comparison of SG Micro's Earnings Growth And 32% ROE
First thing first, we like that SG Micro has an impressive ROE. Second, a comparison with the average ROE reported by the industry of 10% also doesn't go unnoticed by us. So, the substantial 49% net income growth seen by SG Micro over the past five years isn't overly surprising.
Next, on comparing with the industry net income growth, we found that SG Micro's growth is quite high when compared to the industry average growth of 33% in the same period, which is great to see.
SZSE:300661 Past Earnings Growth August 19th 2022The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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 SG Micro fairly valued compared to other companies? These 3 valuation measures might help you decide.
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. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.
Additionally, SG Micro has paid dividends over a period of four years which means that the company is pretty serious about sharing its profits with shareholders. Existing analyst estimates suggest that the company's future payout ratio is expected to drop to 13% over the next three years. Despite the lower expected payout ratio, the company's ROE is not expected to change by much.
Conclusion
In total, we are pretty happy with SG Micro's performance. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. 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 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.
新科微电子(SZSE:300661)经历了艰难的三个月,股价下跌了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SG Micro的净资产收益率。
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。
查看我们对SG Micro的最新分析
如何计算股本回报率?
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,新科微电子的净资产收益率为:
32%=8.73亿元×27亿元(基于截至2022年3月的12个月)。
“收益”是过去12个月的利润。这意味着,每增加价值1元的股东权益,公司就会产生0.32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。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。
新科微电子盈利增长与净资产收益率32%的并列比较
首先,我们喜欢SG Micro令人印象深刻的净资产收益率。其次,与行业报告的平均净资产收益率10%相比,我们也不会忽视这一点。因此,新科微电子过去五年实现49%的净利润大幅增长并不太令人意外。
接下来,对比行业净收入增长,我们发现,与同期33%的行业平均增长相比,新科微电子的增长相当高,这是很好的看到。
深圳证交所:过去300661的收益增长2022年8月19日赋予一家公司价值的基础在很大程度上与其盈利增长挂钩。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。与其他公司相比,新科微电子的估值是否公平?这3个估值指标可能会帮助你做出决定。
新科微电子是否有效地对其利润进行了再投资?
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%)。这表明管理层正在将大部分利润进行再投资,以实现业务增长,公司的增长就是明证。
此外,SG Micro在四年的时间里支付了股息,这意味着该公司非常认真地与股东分享利润。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13%。尽管预期派息率较低,但该公司的净资产收益率预计不会有太大变化。
结论
总体而言,我们对新科微电子的表现相当满意。具体地说,我们喜欢该公司将一大笔利润以高回报率进行再投资。当然,这导致该公司的收益出现了大幅增长。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。
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。
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