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Declining Stock and Solid Fundamentals: Is The Market Wrong About Huaxin Cement Co., Ltd. (SHSE:600801)?
Declining Stock and Solid Fundamentals: Is The Market Wrong About Huaxin Cement Co., Ltd. (SHSE:600801)?
It is hard to get excited after looking at Huaxin Cement's (SHSE:600801) recent performance, when its stock has declined 13% over the past three months. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Specifically, we decided to study Huaxin Cement's ROE in this article.
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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
Check out our latest analysis for Huaxin Cement
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 Huaxin Cement is:
16% = CN¥4.8b ÷ CN¥29b (Based on the trailing twelve months to June 2022).
The 'return' refers to a company's earnings over the last year. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.16 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. 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.
Huaxin Cement's Earnings Growth And 16% ROE
At first glance, Huaxin Cement seems to have a decent ROE. Especially when compared to the industry average of 9.8% the company's ROE looks pretty impressive. This probably laid the ground for Huaxin Cement's moderate 15% net income growth seen over the past five years.
We then compared Huaxin Cement's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 21% in the same period, which is a bit concerning.
SHSE:600801 Past Earnings Growth October 13th 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. This then helps them determine if the stock is placed for a bright or bleak future. Is 600801 fairly valued? This infographic on the company's intrinsic value has everything you need to know.
Is Huaxin Cement Efficiently Re-investing Its Profits?
Huaxin Cement has a three-year median payout ratio of 40%, which implies that it retains the remaining 60% of its profits. This suggests that its dividend is well covered, and given the decent growth seen by the company, it looks like management is reinvesting its earnings efficiently.
Besides, Huaxin Cement 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 is expected to keep paying out approximately 42% of its profits over the next three years. Accordingly, forecasts suggest that Huaxin Cement's future ROE will be 16% which is again, similar to the current ROE.
Summary
On the whole, we feel that Huaxin Cement's performance has been quite good. 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. 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 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.
看到华信水泥(上海证券交易所股票代码:600801)最近的表现,我们很难感到兴奋,它的股价在过去三个月里下跌了13%。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。具体地说,我们决定在本文中研究华信水泥的净资产收益率。
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。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。
查看我们对华信水泥的最新分析
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,华信水泥的净资产收益率为:
16%=CN元48亿×CN元290亿(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。另一种说法是,公司每持有价值1元的股权,就能赚取0.16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。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。
华信水泥盈利增长和16%的净资产收益率
乍一看,华信水泥的净资产收益率似乎还不错。特别是与9.8%的行业平均水平相比,该公司的净资产收益率看起来相当令人印象深刻。这可能为过去五年华信水泥15%的净利润温和增长奠定了基础。
然后我们将华信水泥的净收入增长与行业进行了比较,发现该公司的增长数字低于同期21%的行业平均增长率,这有点令人担忧。
上海证券交易所:过去600801的收益增长2022年10月13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。600801的价值公平吗?这张关于公司内在价值的信息图包含了你需要知道的一切。
华信水泥是否有效地将利润进行了再投资?
华信水泥的三年派息率中值为40%,这意味着它保留了剩余60%的利润。这表明,它的股息得到了很好的覆盖,考虑到该公司看到的可观增长,管理层似乎正在有效地对其收益进行再投资。
此外,华信水泥至少在十年甚至更长的时间里一直在分红。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,预计该公司将在未来三年继续支付约42%的利润。相应地,预测显示,华信水泥未来的净资产收益率将为16%,与目前的净资产收益率相似。
摘要
整体而言,我们觉得华信水泥的表现相当不错。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。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。
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