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Is Jiangsu Tongguang Electronic Wire & Cable Co., Ltd.'s (SZSE:300265) Stock Price Struggling As A Result Of Its Mixed Financials?
Is Jiangsu Tongguang Electronic Wire & Cable Co., Ltd.'s (SZSE:300265) Stock Price Struggling As A Result Of Its Mixed Financials?
It is hard to get excited after looking at Jiangsu Tongguang Electronic Wire & Cable's (SZSE:300265) recent performance, when its stock has declined 19% over the past month. It seems that the market might have completely ignored the positive aspects of the company's fundamentals and decided to weigh-in more on the negative aspects. Stock prices are usually driven by a company's financial performance over the long term, and therefore we decided to pay more attention to the company's financial performance. In this article, we decided to focus on Jiangsu Tongguang Electronic Wire & Cable's ROE.
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
Check out our latest analysis for Jiangsu Tongguang Electronic Wire & Cable
How To Calculate Return On Equity?
ROE 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 Jiangsu Tongguang Electronic Wire & Cable is:
4.1% = CN¥56m ÷ CN¥1.4b (Based on the trailing twelve months to June 2022).
The 'return' is the yearly profit. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.04 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. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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 Jiangsu Tongguang Electronic Wire & Cable's Earnings Growth And 4.1% ROE
It is hard to argue that Jiangsu Tongguang Electronic Wire & Cable's ROE is much good in and of itself. Even when compared to the industry average of 8.8%, the ROE figure is pretty disappointing. For this reason, Jiangsu Tongguang Electronic Wire & Cable's five year net income decline of 3.5% is not surprising given its lower ROE. We reckon that there could also be other factors at play here. For instance, the company has a very high payout ratio, or is faced with competitive pressures.
So, as a next step, we compared Jiangsu Tongguang Electronic Wire & Cable's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 14% in the same period.
SZSE:300265 Past Earnings Growth September 20th 2022The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Jiangsu Tongguang Electronic Wire & Cable's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
Is Jiangsu Tongguang Electronic Wire & Cable Efficiently Re-investing Its Profits?
When we piece together Jiangsu Tongguang Electronic Wire & Cable's low three-year median payout ratio of 15% (where it is retaining 85% of its profits), calculated for the last three-year period, we are puzzled by the lack of growth. The low payout should mean that the company is retaining most of its earnings and consequently, should see some growth. So there could be some other explanations in that regard. For example, the company's business may be deteriorating.
Moreover, Jiangsu Tongguang Electronic Wire & Cable has been paying dividends for at least ten years or more suggesting that management must have perceived that the shareholders prefer dividends over earnings growth.
Summary
In total, we're a bit ambivalent about Jiangsu Tongguang Electronic Wire & Cable's performance. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. To know the 4 risks we have identified for Jiangsu Tongguang Electronic Wire & Cable 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.
看到江苏通广电子电线电缆(SZSE:300265)最近的表现,很难感到兴奋,它的股票在过去一个月里下跌了19%。市场似乎完全忽视了该公司基本面的积极方面,而决定更多地关注负面方面。股票价格通常是由公司的长期财务表现推动的,因此我们决定更多地关注公司的财务表现。在本文中,我们决定将重点放在江苏通广电子线缆的净资产收益率上。
股本回报率或净资产收益率是股东要考虑的一个重要因素,因为它告诉他们他们的资本再投资的效率。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。
查看我们对江苏通广电子电线电缆的最新分析
如何计算股本回报率?
可使用以下公式计算净资产收益率:
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,江苏铜光电子电线电缆的净资产收益率为:
4.1%=CN元5600万×CN元14亿元(基于截至2022年6月的12个月)。
“回报”就是年度利润。这意味着,股东权益每增加1元,公司就会产生0.04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。我们现在需要评估公司将多少利润再投资或“保留”用于未来的增长,这就让我们对公司的增长潜力有了一个了解。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。
江苏通广电子线缆盈利增长与净资产收益率4.1%的并列比较
很难说江苏通广电子线缆的净资产收益率本身就很好。即使与8.8%的行业平均水平相比,净资产收益率也是相当令人失望的。因此,江苏铜光电子线缆五年来净利润下降3.5%并不令人意外,因为它的净资产收益率较低。我们认为,可能还有其他因素在起作用。例如,该公司的派息率非常高,或者面临竞争压力。
因此,作为下一步,我们将江苏铜光电子线缆的表现与行业进行了比较,令人失望的是,尽管该公司的收益一直在缩水,但同期该行业的收益一直以14%的速度增长。
深圳证交所:过去300265的收益增长2022年9月20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。投资者应该尝试确定预期的收益增长或下降是否已计入价格,无论是哪种情况。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。如果你想知道江苏铜光电子线缆的估值,看看这个市盈率指标,看看它与行业的对比。
江苏通广电子电线电缆是否有效地进行了利润再投资?
当我们把过去三年江苏通广电子线缆公司较低的三年中值派息率15%(该公司保留了85%的利润)拼凑在一起时,我们对增长乏力感到困惑。较低的派息应该意味着该公司保留了大部分收益,因此应该会看到一些增长。因此,在这方面可能会有其他一些解释。例如,该公司的业务可能正在恶化。
此外,江苏通广电子线缆至少在十年或更长时间内一直在分红,这表明管理层肯定已经意识到,股东更喜欢分红,而不是盈利增长。
摘要
总体而言,我们对江苏通广电子线缆的表现有些矛盾。虽然该公司的利润留存率确实很高,但其低回报率可能正在阻碍其收益增长。总而言之,我们将谨慎对待这家公司,其中一种方法是查看业务的风险概况。要了解我们为江苏通广电子电线电缆确定的4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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