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Declining Stock and Decent Financials: Is The Market Wrong About Sinotruk Jinan Truck Co., Ltd. (SZSE:000951)?
Declining Stock and Decent Financials: Is The Market Wrong About Sinotruk Jinan Truck Co., Ltd. (SZSE:000951)?
Sinotruk Jinan Truck (SZSE:000951) has had a rough three months with its share price down 8.9%. However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. Particularly, we will be paying attention to Sinotruk Jinan Truck's 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. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
See our latest analysis for Sinotruk Jinan Truck
How Do You Calculate Return On Equity?
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 Sinotruk Jinan Truck is:
4.6% = CN¥668m ÷ CN¥15b (Based on the trailing twelve months to June 2022).
The 'return' is the income the business earned over the last year. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.05 in profit.
What Is The Relationship Between ROE And Earnings Growth?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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. 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.
Sinotruk Jinan Truck's Earnings Growth And 4.6% ROE
It is quite clear that Sinotruk Jinan Truck's ROE is rather low. Not just that, even compared to the industry average of 8.0%, the company's ROE is entirely unremarkable. Sinotruk Jinan Truck was still able to see a decent net income growth of 9.1% over the past five years. We reckon that there could be other factors at play here. 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 Sinotruk Jinan Truck's reported growth was lower than the industry growth of 12% in the same period, which is not something we like to see.
SZSE:000951 Past Earnings Growth September 15th 2022Earnings growth is a huge factor in stock valuation. 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 Sinotruk Jinan Truck is trading on a high P/E or a low P/E, relative to its industry.
Is Sinotruk Jinan Truck Efficiently Re-investing Its Profits?
With a three-year median payout ratio of 30% (implying that the company retains 70% of its profits), it seems that Sinotruk Jinan Truck is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.
Additionally, Sinotruk Jinan Truck has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders.
Summary
On the whole, we do feel that Sinotruk Jinan Truck has some positive attributes. Namely, its respectable earnings growth, which it achieved due to it retaining most of its profits. However, given the low ROE, investors may not be benefitting from all that reinvestment after all. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. 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.
中国重汽济南卡车(SZSE:000951)经历了艰难的三个月,股价下跌了8.9%。然而,该公司的基本面看起来相当不错,长期财务状况通常与未来的市场价格走势保持一致。特别是今天我们将关注中国重汽济南卡车的净资产收益率。
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。换句话说,这是一个衡量公司股东提供的资本回报率的盈利比率。
查看我们对中国重汽济南卡车的最新分析
你如何计算股本回报率?
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,中国重汽济南卡车的净资产收益率为:
4.6%=CN元6.68亿×CN元150亿元(以截至2022年6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,股东权益每增加1元,公司就会产生0.05元的利润。
净资产收益率与盈利增长之间有什么关系?
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。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。
中国重汽济南卡车盈利增长4.6%净资产收益率
很明显,中国重汽济南卡车的净资产收益率(ROE)相当低。不仅如此,即使与8.0%的行业平均水平相比,该公司的净资产收益率也完全不起眼。中国重汽济南卡车在过去五年中仍能实现9.1%的可观净利润增长。我们认为,可能还有其他因素在起作用。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,我们发现中国重汽济南卡车的报告增长低于同期12%的行业增长,这是我们不愿意看到的。
上交所:2022年9月15日收益增长000951盈利增长是股票估值的一个重要因素。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,你可能想看看中国重汽济南卡车相对于其行业是高市盈率还是低市盈率。
中国重汽济南卡车是否有效地将利润进行了再投资?
中国重汽济南卡车的三年中值派息率为30%(这意味着该公司保留了70%的利润),似乎是在以一种高效的方式进行再投资,它看到了收益可观的增长,并支付了丰厚的股息。
此外,中国重汽济南卡车至少在十年内派发了股息,这意味着该公司非常认真地与股东分享利润。
摘要
总体而言,我们确实感觉到中国重汽济南卡车有一些积极的属性。即其可观的收益增长,这要归功于它保留了大部分利润。然而,鉴于净资产收益率较低,投资者可能终究不会从所有这些再投资中受益。既然如此,最新的分析师预测显示,该公司的收益将继续增长。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。
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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