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Are Liaoning Dingjide Petrochemical Co., Ltd.'s (SHSE:603255) Mixed Financials Driving The Negative Sentiment?
Are Liaoning Dingjide Petrochemical Co., Ltd.'s (SHSE:603255) Mixed Financials Driving The Negative Sentiment?
It is hard to get excited after looking at Liaoning Dingjide Petrochemical's (SHSE:603255) recent performance, when its stock has declined 9.0% over the past week. We, however decided to study the company's financials to determine if they have got anything to do with the price decline. Fundamentals usually dictate market outcomes so it makes sense to study the company's financials. Specifically, we decided to study Liaoning Dingjide Petrochemical's ROE in this article.
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.
How To Calculate Return On Equity?
ROE 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 Liaoning Dingjide Petrochemical is:
4.6% = CN¥72m ÷ CN¥1.6b (Based on the trailing twelve months to September 2023).
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¥0.05.
What Is The Relationship Between ROE And 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 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.
Liaoning Dingjide Petrochemical's Earnings Growth And 4.6% ROE
It is hard to argue that Liaoning Dingjide Petrochemical's ROE is much good in and of itself. Even compared to the average industry ROE of 7.1%, the company's ROE is quite dismal. Therefore, the disappointing ROE therefore provides a background to Liaoning Dingjide Petrochemical's very little net income growth of 2.1% over the past five years.
As a next step, we compared Liaoning Dingjide Petrochemical's net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 12% in the same period.
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is Liaoning Dingjide Petrochemical fairly valued compared to other companies? These 3 valuation measures might help you decide.
Is Liaoning Dingjide Petrochemical Efficiently Re-investing Its Profits?
A low three-year median payout ratio of 11% (implying that the company retains the remaining 89% of its income) suggests that Liaoning Dingjide Petrochemical is retaining most of its profits. However, the low earnings growth number doesn't reflect this as high growth usually follows high profit retention. Therefore, there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
Additionally, Liaoning Dingjide Petrochemical started paying a dividend only recently. So it looks like the management must have perceived that shareholders favor dividends over earnings growth.
Conclusion
Overall, we have mixed feelings about Liaoning Dingjide Petrochemical. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. To know the 1 risk we have identified for Liaoning Dingjide Petrochemical 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.
It is hard to get excited after looking at Liaoning Dingjide Petrochemical's (SHSE:603255) recent performance, when its stock has declined 9.0% over the past week. We, however decided to study the company's financials to determine if they have got anything to do with the price decline. Fundamentals usually dictate market outcomes so it makes sense to study the company's financials. Specifically, we decided to study Liaoning Dingjide Petrochemical's ROE in this article.
看了辽宁鼎基德石化(SHSE: 603255)的近期表现,很难感到兴奋,当时其股价在过去一周下跌了9.0%。但是,我们决定研究公司的财务状况,以确定它们是否与价格下跌有关。基本面通常决定市场业绩,因此研究公司的财务状况是有意义的。具体而言,我们决定在本文中研究辽宁鼎基德石化的投资回报率。
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.
股本回报率或投资回报率是对公司增值和管理投资者资金的有效性的考验。换句话说,它揭示了公司成功地将股东投资转化为利润。
How To Calculate Return On Equity?
如何计算股本回报率?
ROE can be calculated by using the formula:
ROE 可以通过以下公式计算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润(来自持续经营业务)÷ 股东权益
So, based on the above formula, the ROE for Liaoning Dingjide Petrochemical is:
因此,根据上述公式,辽宁鼎基德石化的投资回报率为:
4.6% = CN¥72m ÷ CN¥1.6b (Based on the trailing twelve months to September 2023).
4.6% = 7200万元人民币 ÷ 16亿元人民币(基于截至2023年9月的过去十二个月)。
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¥0.05.
“回报” 是指公司去年的收益。因此,这意味着其股东每投资1元人民币,公司就会产生0.05元人民币的利润。
What Is The Relationship Between ROE And Earnings Growth?
投资回报率与收益增长之间有什么关系?
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 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,投资回报率是衡量公司盈利能力的指标。根据公司选择将多少利润进行再投资或 “保留”,我们便能够评估公司未来创造利润的能力。假设其他一切保持不变,那么与不一定具有这些特征的公司相比,投资回报率和利润保留率越高,公司的增长率就越高。
Liaoning Dingjide Petrochemical's Earnings Growth And 4.6% ROE
辽宁鼎基德石化的收益增长和4.6%的投资回报率
It is hard to argue that Liaoning Dingjide Petrochemical's ROE is much good in and of itself. Even compared to the average industry ROE of 7.1%, the company's ROE is quite dismal. Therefore, the disappointing ROE therefore provides a background to Liaoning Dingjide Petrochemical's very little net income growth of 2.1% over the past five years.
很难说辽宁鼎基德石化的投资回报率本身就很不错。即使与7.1%的行业平均投资回报率相比,该公司的投资回报率也相当惨淡。因此,令人失望的投资回报率为辽宁鼎基德石化在过去五年中净收入增长微乎其微,仅为2.1%提供了背景。
As a next step, we compared Liaoning Dingjide Petrochemical's net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 12% in the same period.
下一步,我们将辽宁鼎基德石化的净收入增长与该行业进行了比较,并失望地看到该公司的增长低于同期12%的行业平均增长。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is Liaoning Dingjide Petrochemical fairly valued compared to other companies? These 3 valuation measures might help you decide.
为公司附加价值的基础在很大程度上与其收益增长息息相关。对于投资者来说,重要的是要知道市场是否对公司的预期收益增长(或下降)进行了定价。这样做将帮助他们确定股票的未来是乐观还是不祥的。与其他公司相比,辽宁鼎基德石化的估值是否合理?这3种估值指标可能会帮助您做出决定。
Is Liaoning Dingjide Petrochemical Efficiently Re-investing Its Profits?
辽宁鼎基德石化是否有效地将利润再投资?
A low three-year median payout ratio of 11% (implying that the company retains the remaining 89% of its income) suggests that Liaoning Dingjide Petrochemical is retaining most of its profits. However, the low earnings growth number doesn't reflect this as high growth usually follows high profit retention. Therefore, there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
三年中位数派息率较低,为11%(这意味着该公司保留了剩余的89%的收入),这表明辽宁鼎基德石化保留了大部分利润。但是,低收益增长数字并不能反映出这一点,因为高增长通常伴随着高利润保留率。因此,可能还有其他一些原因可以解释这方面的不足。例如,业务可能会下滑。
Additionally, Liaoning Dingjide Petrochemical started paying a dividend only recently. So it looks like the management must have perceived that shareholders favor dividends over earnings growth.
此外,辽宁鼎基德石化直到最近才开始派息。因此,看来管理层一定已经意识到股东偏爱股息而不是收益增长。
Conclusion
结论
Overall, we have mixed feelings about Liaoning Dingjide Petrochemical. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. To know the 1 risk we have identified for Liaoning Dingjide Petrochemical visit our risks dashboard for free.
总的来说,我们对辽宁鼎基德石化喜忧参半。尽管该公司的再投资率确实很高,但低投资回报率意味着所有这些再投资都没有给投资者带来任何好处,而且还对收益增长产生了负面影响。总而言之,我们将谨慎对待这家公司,其中一种方法是研究该业务的风险状况。要了解我们为辽宁鼎基德石化确定的1种风险,请免费访问我们的风险仪表板。
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.
对这篇文章有反馈吗?对内容感到担忧?直接联系我们。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。
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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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