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Has Zhongjin Irradiation Incorporated Company's (SZSE:300962) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
Has Zhongjin Irradiation Incorporated Company's (SZSE:300962) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
Zhongjin Irradiation (SZSE:300962) has had a great run on the share market with its stock up by a significant 11% over the last three months. As most would know, fundamentals are what usually guide market price movements over the long-term, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. In this article, we decided to focus on Zhongjin Irradiation's ROE.
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
See our latest analysis for Zhongjin Irradiation
How To Calculate Return On Equity?
The formula for ROE is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Zhongjin Irradiation is:
11% = CN¥103m ÷ CN¥946m (Based on the trailing twelve months to September 2022).
The 'return' refers to a company's earnings over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.11.
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 Zhongjin Irradiation's Earnings Growth And 11% ROE
At first glance, Zhongjin Irradiation's ROE doesn't look very promising. However, given that the company's ROE is similar to the average industry ROE of 9.8%, we may spare it some thought. On the other hand, Zhongjin Irradiation reported a moderate 17% net income growth over the past five years. Given the slightly low ROE, it is likely that there could be some other aspects that are driving this growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
We then compared Zhongjin Irradiation's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 8.9% in the same period.
SZSE:300962 Past Earnings Growth December 6th 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. 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 Zhongjin Irradiation is trading on a high P/E or a low P/E, relative to its industry.
Is Zhongjin Irradiation Making Efficient Use Of Its Profits?
Zhongjin Irradiation has a healthy combination of a moderate three-year median payout ratio of 33% (or a retention ratio of 67%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.
While Zhongjin Irradiation has seen growth in its earnings, it only recently started to pay a dividend. It is most likely that the company decided to impress new and existing shareholders with a dividend.
Conclusion
Overall, we feel that Zhongjin Irradiation certainly does have some positive factors to consider. 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. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. To know the 1 risk we have identified for Zhongjin Irradiation 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.
中金辐射(SZSE:300962)的股票在过去三个月里大幅上涨了11%。正如大多数人都知道的那样,基本面因素通常是长期市场价格走势的指引,因此我们决定今天查看该公司的关键财务指标,以确定它们是否对最近的价格走势起到了作用。在本文中,我们决定将重点放在中金辐射的净资产收益率上。
股本回报率(ROE)是对一家公司增值和管理投资者资金的效率的测试。简而言之,它是用来评估一家公司相对于其权益资本的盈利能力。
请看我们对中金辐射的最新分析
如何计算股本回报率?
这个净资产收益率公式是:
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,中金照射的净资产收益率为:
11%=1.03亿元×9.46亿元(以截至2022年9月的12个月为基础)。
“回报”指的是一家公司过去一年的收益。因此,这意味着股东每投资1元人民币,公司就会产生0.11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。
中金辐射盈利增长与11%净资产收益率的并列比较
乍一看,中金照射的净资产收益率看起来并不是很有希望。然而,鉴于该公司的净资产收益率(ROE)与9.8%的行业平均ROE相似,我们或许可以省去一些思考。另一方面,中金照射报告称,过去五年净收入温和增长17%。鉴于净资产收益率略低,很可能还有其他一些方面在推动这一增长。例如,公司管理层可能做出了一些良好的战略决策,或者公司的派息率较低。
然后,我们将中金辐射的净收入增长与行业进行了比较,我们很高兴地看到,与同期8.9%的行业增长率相比,该公司的增长数字更高。
深圳证交所:过去300962的收益增长2022年12月6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。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,你可能想看看中金辐射相对于其行业是高市盈率还是低市盈率。
中金辐射是否有效利用了利润?
如上所述,中金辐射拥有33%的适度三年中值派息率(或67%的留存率)和可观的收益增长的健康组合,这意味着该公司一直在有效利用其利润。
尽管中金辐射的收益有所增长,但它直到最近才开始派发股息。最有可能的是,该公司决定用股息给新股东和现有股东留下深刻印象。
结论
总体而言,我们觉得中金辐射确实有一些积极的因素需要考虑。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。虽然我们不会完全解雇这家公司,但我们要做的是努力确定这项业务在公司周围做出更明智的决定的风险有多大。要了解我们为中金辐射确定的1个风险,请免费访问我们的风险仪表板。
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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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风险及免责提示
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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