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NetEase, Inc. (NASDAQ:NTES) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?
NetEase, Inc. (NASDAQ:NTES) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?
NetEase (NASDAQ:NTES) has had a rough three months with its share price down 11%. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Particularly, we will be paying attention to NetEase'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 short, ROE shows the profit each dollar generates with respect to its shareholder investments.
Check out our latest analysis for NetEase
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 NetEase is:
17% = CN¥18b ÷ CN¥105b (Based on the trailing twelve months to June 2022).
The 'return' is the yearly profit. That means that for every $1 worth of shareholders' equity, the company generated $0.17 in profit.
What Has ROE Got To Do With Earnings Growth?
So far, we've learned that ROE is a measure of a company's profitability. 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 NetEase's Earnings Growth And 17% ROE
At first glance, NetEase seems to have a decent ROE. On comparing with the average industry ROE of 8.4% the company's ROE looks pretty remarkable. This certainly adds some context to NetEase's decent 11% net income growth seen over the past five years.
As a next step, we compared NetEase's net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 26% in the same period.
NasdaqGS:NTES Past Earnings Growth September 19th 2022Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. 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 NetEase is trading on a high P/E or a low P/E, relative to its industry.
Is NetEase Making Efficient Use Of Its Profits?
NetEase has a healthy combination of a moderate three-year median payout ratio of 30% (or a retention ratio of 70%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.
Additionally, NetEase has paid dividends over a period of nine 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 21% over the next three years. However, the company's ROE is not expected to change by much despite the lower expected payout ratio.
Conclusion
Overall, we are quite pleased with NetEase'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 a good amount of growth in its earnings. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. 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.
网易-S(纳斯达克代码:NTES)经历了艰难的三个月,股价下跌了11%。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。今天我们特别关注网易-S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,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。
看看我们对网易-S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,网易-S的净资产收益率为:
17%=CN元180亿×CN元1050亿(以截至2022年6月的12个月为基础)。
“回报”就是年度利润。这意味着,股东权益每增加1美元,公司就会产生0.17美元的利润。
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。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。
网易-S盈利增长与17%净资产收益率的并列比较
乍一看,网易-S似乎有不错的净资产收益率。与8.4%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。这无疑为网易-S在过去五年中11%的净收入增长增添了一些背景。
作为下一步,我们将网易-S的净收入增长与行业进行了比较,失望地看到公司的增长低于同期26%的行业平均增长。
纳斯达克:NTE过去的收益增长2022年9月19日盈利增长是评估一只股票时需要考虑的一个重要指标。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)。这有助于他们确定这只股票是为光明还是黯淡的未来做准备。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,你可能想看看网易-S相对于其行业是高市盈率还是低市盈率。
网易-S是否有效利用了它的利润?
如上所述,网易-S拥有30%的适度三年中值派息率(或70%的留存比率)和可观的收益增长,这意味着该公司一直在有效利用其利润。
此外,网易-S在九年的时间里一直在分红,这意味着公司对与股东分享利润是相当认真的。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21%。然而,尽管预期派息率较低,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,我们对网易-S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可观的增长。最新的行业分析师预测显示,该公司有望保持目前的增长速度。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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