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Zoomlion Heavy Industry Science and Technology Co., Ltd.'s (SZSE:000157) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Zoomlion Heavy Industry Science and Technology Co., Ltd.'s (SZSE:000157) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
It is hard to get excited after looking at Zoomlion Heavy Industry Science and Technology's (SZSE:000157) recent performance, when its stock has declined 4.4% over the past three months. But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. Particularly, we will be paying attention to Zoomlion Heavy Industry Science and Technology's ROE today.
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 simpler terms, it measures the profitability of a company in relation to shareholder's equity.
See our latest analysis for Zoomlion Heavy Industry Science and Technology
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 Zoomlion Heavy Industry Science and Technology is:
5.7% = CN¥3.2b ÷ CN¥57b (Based on the trailing twelve months to June 2022).
The 'return' refers to a company's earnings over the last year. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.06 in profit.
What Is The Relationship Between ROE And Earnings Growth?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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.
A Side By Side comparison of Zoomlion Heavy Industry Science and Technology's Earnings Growth And 5.7% ROE
At first glance, Zoomlion Heavy Industry Science and Technology's ROE doesn't look very promising. We then compared the company's ROE to the broader industry and were disappointed to see that the ROE is lower than the industry average of 8.1%. Despite this, surprisingly, Zoomlion Heavy Industry Science and Technology saw an exceptional 34% net income growth over the past five years. We reckon that there could be other factors at play here. Such as - high earnings retention or an efficient management in place.
Next, on comparing with the industry net income growth, we found that Zoomlion Heavy Industry Science and Technology's growth is quite high when compared to the industry average growth of 12% in the same period, which is great to see.
SZSE:000157 Past Earnings Growth September 20th 2022Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. 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 Zoomlion Heavy Industry Science and Technology is trading on a high P/E or a low P/E, relative to its industry.
Is Zoomlion Heavy Industry Science and Technology Efficiently Re-investing Its Profits?
The three-year median payout ratio for Zoomlion Heavy Industry Science and Technology is 47%, which is moderately low. The company is retaining the remaining 53%. So it seems that Zoomlion Heavy Industry Science and Technology is reinvesting efficiently in a way that it sees impressive growth in its earnings (discussed above) and pays a dividend that's well covered.
Besides, Zoomlion Heavy Industry Science and Technology has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 33% over the next three years. Accordingly, the expected drop in the payout ratio explains the expected increase in the company's ROE to 13%, over the same period.
Summary
On the whole, we do feel that Zoomlion Heavy Industry Science and Technology has some positive attributes. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page 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.
看到中联重科(SZSE:000157)最近的表现,很难感到兴奋,其股票在过去三个月里下跌了4.4%。但如果你密切关注,你可能会发现,该公司的关键财务指标看起来相当不错,这可能意味着,鉴于市场通常会奖励更具弹性的长期基本面因素,该股可能会在长期内上涨。今天我们特别关注中联重科的净资产收益率。
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,它衡量的是一家公司相对于股东权益的盈利能力。
参见我们对中联重科的最新分析
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,中联重科的净资产收益率为:
5.7%=32亿元×570亿元(以截至2022年6月的12个月为基础)。
“回报”指的是一家公司过去一年的收益。这意味着,股东权益每增加1元,公司就会产生0.06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,我们已经了解到净资产收益率衡量的是一家公司创造利润的效率。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。
中联重科盈利增长与5.7%净资产收益率的并列比较
乍一看,中联重科的净资产收益率看起来并不是很有前途。然后,我们将该公司的净资产收益率(ROE)与更广泛的行业进行了比较,发现净资产收益率低于8.1%的行业平均水平,这让我们感到失望。尽管如此,令人惊讶的是,在过去的五年里,中联重科的净收入增长了34%。我们认为,可能还有其他因素在起作用。例如-高收益留存或有效的管理到位。
接下来,对比行业净收入增长,我们发现中联重科的增长与同期行业平均12%的增长相比是相当高的,这是很好的看到。
深圳证交所:过去000157的收益增长2022年9月20日盈利增长是股票估值的一个重要因素。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,你可能想看看中联重科相对于其行业是高市盈率还是低市盈率。
中联重科是否有效地将其利润进行了再投资?
中联重科的三年中值派息率为47%,属于中等偏低水平。该公司将保留剩余的53%。因此,中联重科似乎在以一种高效的方式进行再投资,它看到了令人印象深刻的收益增长(如上所述),并支付了丰厚的股息。
此外,中联重科已经分红至少十年甚至更长时间。这表明该公司致力于与股东分享利润。在研究了最新的分析师共识数据后,我们发现,该公司未来三年的派息率预计将降至33%。因此,派息率的预期下降解释了公司同期净资产收益率预期上升至13%的原因。
摘要
总的来说,我们确实觉得中联重科有一些积极的属性。尽管回报率很低,但由于对业务进行了大量再投资,该公司实现了令人印象深刻的收益增长。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。这些分析师的预期是基于对该行业的广泛预期,还是基于该公司的基本面?点击此处进入我们分析师对该公司的预测页面。
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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