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Jiangsu Changbao Steeltube Co.,Ltd's (SZSE:002478) Stock Is Rallying But Financials Look Ambiguous: Will The Momentum Continue?
Jiangsu Changbao Steeltube Co.,Ltd's (SZSE:002478) Stock Is Rallying But Financials Look Ambiguous: Will The Momentum Continue?
Jiangsu Changbao SteeltubeLtd's (SZSE:002478) stock is up by a considerable 15% over the past three months. However, we wonder if the company's inconsistent financials would have any adverse impact on the current share price momentum. In this article, we decided to focus on Jiangsu Changbao SteeltubeLtd's ROE.
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. Put another way, it reveals the company's success at turning shareholder investments into profits.
Check out our latest analysis for Jiangsu Changbao SteeltubeLtd
How Do You Calculate Return On Equity?
The formula for return on equity is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Jiangsu Changbao SteeltubeLtd is:
5.2% = CN¥234m ÷ CN¥4.5b (Based on the trailing twelve months to June 2022).
The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.05 in profit.
Why Is ROE Important For 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 everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
Jiangsu Changbao SteeltubeLtd's Earnings Growth And 5.2% ROE
It is quite clear that Jiangsu Changbao SteeltubeLtd's ROE is rather low. Not just that, even compared to the industry average of 8.9%, the company's ROE is entirely unremarkable. For this reason, Jiangsu Changbao SteeltubeLtd's five year net income decline of 11% is not surprising given its lower ROE. We believe that there also might be other aspects that are negatively influencing the company's earnings prospects. For instance, the company has a very high payout ratio, or is faced with competitive pressures.
That being said, we compared Jiangsu Changbao SteeltubeLtd's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 18% in the same period.
SZSE:002478 Past Earnings Growth October 2nd 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. Is Jiangsu Changbao SteeltubeLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
Is Jiangsu Changbao SteeltubeLtd Making Efficient Use Of Its Profits?
Despite having a normal three-year median payout ratio of 26% (where it is retaining 74% of its profits), Jiangsu Changbao SteeltubeLtd has seen a decline in earnings as we saw above. So there could be some other explanations in that regard. For instance, the company's business may be deteriorating.
In addition, Jiangsu Changbao SteeltubeLtd has been paying dividends over a period of at least ten years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth.
Summary
Overall, we have mixed feelings about Jiangsu Changbao SteeltubeLtd. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. Having said that, looking at current analyst estimates, we found that the company's earnings growth rate is expected to see a huge improvement. 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.
江苏长宝钢铁股份有限公司(SZSE:002478)的股票在过去三个月里上涨了15%。然而,我们想知道该公司不一致的财务数据是否会对当前的股价势头产生不利影响。在本文中,我们决定将重点放在江苏长宝钢管有限公司的净资产收益率上。
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。换句话说,它揭示了该公司成功地将股东投资转化为利润。
查看我们对江苏长宝钢管有限公司的最新分析
你如何计算股本回报率?
这个股本回报率公式是:
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,江苏长宝钢管有限公司的净资产收益率为:
5.2%=2.34亿元×45亿元(以截至2022年6月的12个月为基础)。
“收益”是过去12个月的利润。一种概念化的方法是,公司每拥有1元人民币的股东资本,就会获得0.05元人民币的利润。
为什么净资产收益率对收益增长很重要?
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。假设其他条件不变,净资产收益率和利润保留率越高,与不一定具有这些特征的公司相比,公司的增长率就越高。
江苏长宝钢管有限公司盈利增长5.2%净资产收益率
很明显,江苏长宝钢管有限公司的净资产收益率(ROE)相当低。不仅如此,即使与8.9%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。因此,考虑到较低的净资产收益率,江苏长宝钢管有限公司五年来净利润下降11%并不令人意外。我们认为,可能还有其他方面对公司的收益前景产生负面影响。例如,该公司的派息率非常高,或者面临竞争压力。
话虽如此,我们将江苏长宝钢铁有限公司的业绩与行业进行了比较,当我们发现该公司在同期盈利缩水的同时,该行业的盈利却以18%的速度增长时,我们感到担忧。
深圳证交所:过去002478的收益增长2022年10月2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。与其他公司相比,江苏长宝钢铁有限公司的估值是否公平?这3个估值指标可能会帮助你做出决定。
江苏长宝钢管有限公司是否有效利用了利润?
尽管江苏长宝钢铁有限公司正常的三年派息率中值为26%(该公司保留了74%的利润),但正如我们上面看到的那样,该公司的收益出现了下降。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,江苏长宝钢管有限公司在至少十年的时间里一直在分红,这表明保持分红对管理层来说要重要得多,即使这是以牺牲业务增长为代价的。
摘要
总体而言,我们对江苏长宝钢管有限公司的看法复杂。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。话虽如此,看看目前分析师的预估,我们发现该公司的盈利增长率预计将出现巨大改善。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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