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Could The Market Be Wrong About COSCO SHIPPING Technology Co., Ltd. (SZSE:002401) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About COSCO SHIPPING Technology Co., Ltd. (SZSE:002401) Given Its Attractive Financial Prospects?
It is hard to get excited after looking at COSCO SHIPPING Technology's (SZSE:002401) recent performance, when its stock has declined 10% over the past three months. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. In this article, we decided to focus on COSCO SHIPPING Technology's ROE.
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
See our latest analysis for COSCO SHIPPING Technology
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 COSCO SHIPPING Technology is:
13% = CN¥173m ÷ CN¥1.4b (Based on the trailing twelve months to June 2022).
The 'return' is the amount earned after tax over the last twelve months. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.13 in profit.
Why Is ROE Important For 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 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 COSCO SHIPPING Technology's Earnings Growth And 13% ROE
To start with, COSCO SHIPPING Technology's ROE looks acceptable. On comparing with the average industry ROE of 6.4% the company's ROE looks pretty remarkable. This certainly adds some context to COSCO SHIPPING Technology's exceptional 20% net income growth seen over the past five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.
Next, on comparing with the industry net income growth, we found that COSCO SHIPPING Technology's growth is quite high when compared to the industry average growth of 6.4% in the same period, which is great to see.
SZSE:002401 Past Earnings Growth September 1st 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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. 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 COSCO SHIPPING Technology is trading on a high P/E or a low P/E, relative to its industry.
Is COSCO SHIPPING Technology Using Its Retained Earnings Effectively?
COSCO SHIPPING Technology has a really low three-year median payout ratio of 18%, meaning that it has the remaining 82% left over to reinvest into its business. So it seems like the management is reinvesting profits heavily to grow its business and this reflects in its earnings growth number.
Moreover, COSCO SHIPPING Technology is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years.
Summary
In total, we are pretty happy with COSCO SHIPPING Technology's 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. If the company continues to grow its earnings the way it has, that could have a positive impact on its share price given how earnings per share influence long-term share prices. Let's not forget, business risk is also one of the factors that affects the price of the stock. So this is also an important area that investors need to pay attention to before making a decision on any business. To know the 1 risk we have identified for COSCO SHIPPING Technology visit our risks dashboard for free.
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.
看到中远航运科技(SZSE:002401)最近的表现,很难感到兴奋,因为它的股票在过去三个月里下跌了10%。然而,股价通常是由一家公司的长期财务表现推动的,在这种情况下,这看起来相当有希望。在本文中,我们决定将重点放在中远航运科技的ROE上。
净资产收益率,即股本回报率,是评估一家公司从股东那里获得投资回报的有效程度的有用工具。简而言之,净资产收益率显示了每一美元相对于其股东投资产生的利润。
查看我们对中远航运技术的最新分析
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,中远航运科技的净资产收益率为:
13%=1.73亿元×14亿元(以截至2022年6月的12个月为基础)。
“报税表”是过去12个月的税后收入。这意味着,每增加价值1元的股东权益,公司就会产生0.13元的利润。
为什么净资产收益率对收益增长很重要?
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。
中远海运科技盈利增长与净资产收益率13%的并列比较
首先,中远航运科技的ROE看起来可以接受。与6.4%的行业平均净资产收益率相比,该公司的净资产收益率看起来相当惊人。这无疑为中远航运科技在过去五年中实现了20%的非凡净利润增长增添了一些背景。我们认为,可能还有其他方面正在积极影响公司的收益增长。例如,该公司的派息率较低或管理效率较高。
接下来,对比行业净收入增长,我们发现,与同期6.4%的行业平均增长相比,中远航运科技的增长相当高,这是令人欣喜的。
深圳证交所:过去002401的收益增长2022年9月1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。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。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,你可能想看看中远航运技术相对于其行业是高市盈率还是低市盈率。
中远航运科技是否有效利用其留存收益?
中远航运科技的三年中值派息率非常低,只有18%,这意味着它还有剩余的82%可以再投资于自己的业务。因此,管理层似乎正在对利润进行大量再投资,以增长业务,这反映在其收益增长数字上。
此外,中远航运科技决心继续与股东分享利润,这是我们从其至少十年的派息历史中推断出来的。
摘要
总体而言,我们对中远航运科技的表现相当满意。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。如果该公司继续以目前的方式增长收益,考虑到每股收益对长期股价的影响,这可能会对其股价产生积极影响。我们不要忘记,商业风险也是影响股票价格的因素之一。因此,这也是投资者在对任何业务做出决定之前需要关注的一个重要领域。要了解我们为中远航运技术确定的1个风险,请免费访问我们的风险仪表板。
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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