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Will Weakness in Bosideng International Holdings Limited's (HKG:3998) Stock Prove Temporary Given Strong Fundamentals?
Will Weakness in Bosideng International Holdings Limited's (HKG:3998) Stock Prove Temporary Given Strong Fundamentals?
Bosideng International Holdings (HKG:3998) has had a rough month with its share price down 11%. 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 Bosideng International Holdings' ROE today.
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
View our latest analysis for Bosideng International Holdings
How Is ROE Calculated?
Return on equity can be calculated by using the formula:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Bosideng International Holdings is:
17% = CN¥2.1b ÷ CN¥12b (Based on the trailing twelve months to March 2022).
The 'return' is the income the business earned over the last year. That means that for every HK$1 worth of shareholders' equity, the company generated HK$0.17 in profit.
What Has ROE Got To Do With 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.
Bosideng International Holdings' Earnings Growth And 17% ROE
To start with, Bosideng International Holdings' ROE looks acceptable. Especially when compared to the industry average of 12% the company's ROE looks pretty impressive. This certainly adds some context to Bosideng International Holdings' exceptional 31% net income growth seen over the past five years. However, there could also be other causes behind this growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
We then compared Bosideng International 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 1.0% in the same period.
SEHK:3998 Past Earnings Growth September 10th 2022The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. 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 Bosideng International Holdings is trading on a high P/E or a low P/E, relative to its industry.
Is Bosideng International Holdings Using Its Retained Earnings Effectively?
The high three-year median payout ratio of 73% (implying that it keeps only 27% of profits) for Bosideng International Holdings suggests that the company's growth wasn't really hampered despite it returning most of the earnings to its shareholders.
Moreover, Bosideng International Holdings 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. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 69%. Still, forecasts suggest that Bosideng International Holdings' future ROE will rise to 23% even though the the company's payout ratio is not expected to change by much.
Summary
Overall, we are quite pleased with Bosideng International Holdings' performance. We are particularly impressed by the considerable earnings growth posted by the company, which was likely backed by its high ROE. While the company is paying out most of its earnings as dividends, it has been able to grow its earnings in spite of it, so that's probably a good sign. 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.
波司登控股(HKG:3998)经历了一个艰难的月份,其股价下跌了11%。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。今天我们特别关注波司登控股的净资产收益率。
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,它是用来评估一家公司相对于其权益资本的盈利能力。
查看我们对波司登控股的最新分析
净资产收益率是如何计算的?
股本回报率可使用以下公式计算:
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,波司登控股的净资产收益率为:
17%=CN元21亿×CN元120亿(以截至2022年3月的12个月为基础)。
“回报”指的是企业在过去一年中获得的收入。这意味着,每1港元的股东权益,该公司就会产生0.17港元的利润。
净资产收益率与盈利增长有什么关系?
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。
波司登控股的盈利增长和17%的净资产收益率
首先,波司登控股的净资产收益率看起来可以接受。特别是与12%的行业平均水平相比,该公司的净资产收益率(ROE)看起来相当令人印象深刻。这无疑为波司登控股在过去五年中31%的净利润增长提供了一些背景。然而,这种增长背后也可能有其他原因。例如,公司管理层可能做出了一些良好的战略决策,或者公司的派息率较低。
然后,我们将波司登控股的净收入增长与行业进行了比较,我们很高兴地看到,该公司的增长数字高于同期行业1.0%的增长率。
联交所:3998过去盈利增长2022年9月10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。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。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,你可能想看看波司登控股相对于其行业是高市盈率还是低市盈率。
波司登控股是否有效地利用了其留存收益?
波司登控股的三年中值股息率高达73%(这意味着它只保留利润的27%),这表明尽管该公司将大部分收益返还给股东,但该公司的增长并未受到真正的阻碍。
此外,波司登控股决心继续与股东分享其利润,这是我们从其至少十年的派息历史中推断的。根据最新的分析师预估,我们发现该公司未来三年的派息比率预计将稳定在69%。尽管如此,预测显示波司登控股未来的净资产收益率将升至23%,尽管该公司的派息率预计不会有太大变化。
摘要
总体而言,我们对波司登控股的表现相当满意。该公司公布的可观收益增长给我们留下了特别深刻的印象,这可能是由其高ROE支持的。虽然该公司将大部分收益作为股息支付,但它仍然能够实现收益增长,因此这可能是一个好迹象。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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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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