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Declining Stock and Solid Fundamentals: Is The Market Wrong About CETC Acoustic-Optic-Electronic Technology Inc. (SHSE:600877)?
Declining Stock and Solid Fundamentals: Is The Market Wrong About CETC Acoustic-Optic-Electronic Technology Inc. (SHSE:600877)?
It is hard to get excited after looking at CETC Acoustic-Optic-Electronic Technology's (SHSE:600877) recent performance, when its stock has declined 14% over the past three months. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Specifically, we decided to study CETC Acoustic-Optic-Electronic Technology's ROE in this article.
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
View our latest analysis for CETC Acoustic-Optic-Electronic Technology
How Is ROE Calculated?
The formula for ROE is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for CETC Acoustic-Optic-Electronic Technology is:
11% = CN¥212m ÷ CN¥1.9b (Based on the trailing twelve months to December 2021).
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.11.
What Is The Relationship Between ROE And Earnings Growth?
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. 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.
CETC Acoustic-Optic-Electronic Technology's Earnings Growth And 11% ROE
On the face of it, CETC Acoustic-Optic-Electronic Technology's ROE is not much to talk about. However, the fact that the company's ROE is higher than the average industry ROE of 8.8%, is definitely interesting. Particularly, the substantial 29% net income growth seen by CETC Acoustic-Optic-Electronic Technology over the past five years is impressive . That being said, the company does have a slightly low ROE to begin with, just that it is higher than the industry average. Therefore, the growth in earnings could also be the result of other factors. E.g the company has a low payout ratio or could belong to a high growth industry.
Next, on comparing with the industry net income growth, we found that CETC Acoustic-Optic-Electronic Technology's growth is quite high when compared to the industry average growth of 10% in the same period, which is great to see.
SHSE:600877 Past Earnings Growth July 18th 2022Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. If you're wondering about CETC Acoustic-Optic-Electronic Technology's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
Is CETC Acoustic-Optic-Electronic Technology Making Efficient Use Of Its Profits?
CETC Acoustic-Optic-Electronic Technology doesn't pay any dividend to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
Summary
Overall, we are quite pleased with CETC Acoustic-Optic-Electronic Technology's performance. Particularly, we like that the company is reinvesting heavily into its business at a moderate rate of return. Unsurprisingly, this has led to an impressive earnings growth. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page 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.
在看到中電聲光電子科技(SHSE:600877)最近的表現後,很難感到興奮,它的股票在過去三個月裏下跌了14%。然而,仔細看看它穩健的財務狀況可能會讓你重新考慮。鑑於基本面因素通常會推動長期市場結果,該公司值得關注。具體地説,我們決定在本文中研究CETC聲光電子技術的淨資產收益率。
股本回報率(ROE)是用來評估公司管理層利用公司資本效率的關鍵指標。簡而言之,它衡量的是一家公司相對於股東權益的盈利能力。
查看我們對CETC聲光電技術的最新分析
淨資產收益率是如何計算的?
這個淨資產收益率公式是:
股本回報率=(持續經營的)淨利潤?股東權益
因此,根據上述公式,CETC聲光電技術的淨資產收益率為:
11%=CN元2.12億×CN元19億元(基於截至2021年12月的12個月)。
“報税表”是過去12個月的税後收入。因此,這意味着股東每投資1元人民幣,公司就會產生0.11元的利潤。
淨資產收益率與盈利增長之間有什麼關係?
到目前為止,我們已經瞭解到淨資產收益率衡量的是一家公司創造利潤的效率。根據公司選擇再投資或“保留”多少利潤,我們就能夠評估一家公司未來產生利潤的能力。一般來説,在其他條件相同的情況下,股本回報率和利潤留存較高的公司比不具備這些特徵的公司有更高的增長率。
中電聲光電子技術盈利增長和11%的淨資產收益率
從表面上看,中電聲光電子技術的淨資產收益率(ROE)並不值得談論。然而,該公司的淨資產收益率高於行業平均8.8%的淨資產收益率,這絕對是有趣的。特別是,CETC聲光電子技術在過去五年中實現了29%的淨收入大幅增長,令人印象深刻。話雖如此,該公司一開始的淨資產收益率確實略低,只是高於行業平均水平。因此,收益的增長也可能是其他因素的結果。例如,該公司的派息率較低,或者可能屬於高增長行業。
接下來,對比行業淨收入增長,我們發現CETC聲光電子技術的增長與同期10%的行業平均增長相比是相當高的,這是令人欣喜的。
上海證券交易所:過去600877的收益增長2022年7月18日盈利增長是評估一隻股票時需要考慮的一個重要指標。投資者應該嘗試確定預期的收益增長或下降是否已計入價格,無論是哪種情況。通過這樣做,他們將知道股票是將進入清澈的藍色水域,還是等待沼澤水域。如果你想知道CETC聲光電子技術的估值,看看這個衡量其市盈率的指標,與其行業相比。
CETC聲光電子技術是否有效利用其利潤?
CETC聲光電子技術公司不向股東支付任何股息,這意味着該公司一直在將所有利潤再投資於該業務。這很可能是推動上述高收益增長數字的原因。
摘要
總體而言,我們對CETC聲光電子技術的表現相當滿意。特別是,我們喜歡該公司以適度的回報率對其業務進行大量再投資。不出所料,這導致了令人印象深刻的收益增長。最新的行業分析師預測顯示,該公司有望保持目前的增長速度。這些分析師的預期是基於對該行業的廣泛預期,還是基於該公司的基本面?點擊此處進入我們分析師對該公司的預測頁面。
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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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., 是關聯公司。
風險及免責聲明
moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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