Shanghai Labway Clinical Laboratory Co., Ltd (SZSE:301060) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
Shanghai Labway Clinical Laboratory Co., Ltd (SZSE:301060) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
With its stock down 18% over the past three months, it is easy to disregard Shanghai Labway Clinical Laboratory (SZSE:301060). However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. In this article, we decided to focus on Shanghai Labway Clinical Laboratory's ROE.
在过去的三个月里，其股价下跌了18%，人们很容易忽视上海朗威临床实验室(SZSE：301060)。然而，股价通常是由公司的长期财务状况推动的，在这种情况下，财务状况看起来相当不错。在本文中，我们决定将重点放在上海朗威临床实验室的净资产收益率上。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Put another way, it reveals the company's success at turning shareholder investments into profits.
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。换句话说，它揭示了该公司成功地将股东投资转化为利润。
Check out our latest analysis for Shanghai Labway Clinical Laboratory
查看我们对上海朗威临床实验室的最新分析
How To Calculate Return On Equity?
如何计算股本回报率？
The formula for return on equity is:
这个股本回报率公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润？股东权益
So, based on the above formula, the ROE for Shanghai Labway Clinical Laboratory is:
因此，根据上述公式，上海朗威临床实验室的净资产收益率为：
9.1% = CN¥195m ÷ CN¥2.1b (Based on the trailing twelve months to June 2023).
9.1%=人民币1.95亿×人民币21亿元(按截至2023年6月的12个月计算)。
The 'return' is the yearly profit. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.09.
“回报”就是年度利润。因此，这意味着股东每投资1元人民币，公司就会产生0.09元的利润。
Why Is ROE Important For Earnings Growth?
为什么净资产收益率对收益增长很重要？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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 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.
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。
Shanghai Labway Clinical Laboratory's Earnings Growth And 9.1% ROE
上海朗威临床实验室盈利增长和9.1%的净资产收益率
At first glance, Shanghai Labway Clinical Laboratory's ROE doesn't look very promising. Yet, a closer study shows that the company's ROE is similar to the industry average of 9.1%. Particularly, the exceptional 37% net income growth seen by Shanghai Labway Clinical Laboratory over the past five years is pretty remarkable. Considering the moderately low ROE, it is quite possible that there might be some other aspects that are positively influencing the company's earnings 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.
乍一看，上海朗威临床实验室的净资产收益率看起来并不是很有希望。然而，一项更仔细的研究显示，该公司的净资产收益率接近9.1%的行业平均水平。特别是，上海朗威临床实验室在过去五年中实现了37%的异常净收入增长，这是相当了不起的。考虑到较低的净资产收益率，很有可能还有一些其他方面正在积极影响公司的收益增长。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。
As a next step, we compared Shanghai Labway Clinical Laboratory's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 9.3%.
作为下一步，我们将上海朗威临床实验室的净收入增长与行业进行了比较，令人欣喜的是，我们发现该公司看到的增长高于行业平均9.3%的增长。
Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. If you're wondering about Shanghai Labway Clinical Laboratory's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
盈利增长是评估一只股票时需要考虑的一个重要指标。对于投资者来说，重要的是知道市场是否已经消化了公司预期的收益增长(或下降)。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。如果你想知道上海朗威临床实验室的估值，看看这个衡量其市盈率的指标，与其行业相比。
Is Shanghai Labway Clinical Laboratory Using Its Retained Earnings Effectively?
上海朗威临床实验室是否有效利用其留存收益？
Shanghai Labway Clinical Laboratory has a three-year median payout ratio of 26% (where it is retaining 74% of its income) which is not too low or not too high. By the looks of it, the dividend is well covered and Shanghai Labway Clinical Laboratory is reinvesting its profits efficiently as evidenced by its exceptional growth which we discussed above.
上海朗威临床实验室的三年中值派息率为26%(保留收入的74%)，既不太低也不太高。从表面上看，股息得到了很好的覆盖，上海朗威临床实验室正在有效地将其利润进行再投资，这一点从我们上面讨论的非凡增长中可见一斑。
Along with seeing a growth in earnings, Shanghai Labway Clinical Laboratory only recently started paying dividends. Its quite possible that the company was looking to impress its shareholders.
随着收入的增长，上海朗威临床实验室最近才开始分红。该公司很可能希望给股东留下深刻印象。
Summary
摘要
On the whole, we do feel that Shanghai Labway Clinical Laboratory 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. 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. You can see the 3 risks we have identified for Shanghai Labway Clinical Laboratory by visiting our risks dashboard for free on our platform here.
总体而言，我们确实觉得上海朗威临床实验室有一些积极的属性。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。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。您可以访问我们的网站查看我们为上海朗威临床实验室确定的3个风险风险控制面板在我们的平台上是免费的。
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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。