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Is Red Avenue New Materials Group Co., Ltd.'s (SHSE:603650) Stock Price Struggling As A Result Of Its Mixed Financials?
Is Red Avenue New Materials Group Co., Ltd.'s (SHSE:603650) Stock Price Struggling As A Result Of Its Mixed Financials?
Red Avenue New Materials Group (SHSE:603650) has had a rough month with its share price down 14%. 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 Red Avenue New Materials Group'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 short, ROE shows the profit each dollar generates with respect to its shareholder investments.
Check out our latest analysis for Red Avenue New Materials Group
How Do You Calculate Return On Equity?
The formula for return on equity is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Red Avenue New Materials Group is:
7.9% = CN¥231m ÷ CN¥2.9b (Based on the trailing twelve months to March 2022).
The 'return' is the yearly profit. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.08 in profit.
Why Is ROE Important For 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. 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.
Red Avenue New Materials Group's Earnings Growth And 7.9% ROE
On the face of it, Red Avenue New Materials Group's ROE is not much to talk about. We then compared the company's ROE to the broader industry and were disappointed to see that the ROE is lower than the industry average of 10%. Hence, the flat earnings seen by Red Avenue New Materials Group over the past five years could probably be the result of it having a lower ROE.
We then compared Red Avenue New Materials Group's net income growth with the industry and found that the average industry growth rate was 19% in the same period.
SHSE:603650 Past Earnings Growth July 28th 2022The 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). 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 Red Avenue New Materials Group's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
Is Red Avenue New Materials Group Using Its Retained Earnings Effectively?
Despite having a normal three-year median payout ratio of 48% (implying that the company keeps 52% of its income) over the last three years, Red Avenue New Materials Group has seen a negligible amount of growth in earnings as we saw above. So there could be some other explanation in that regard. For instance, the company's business may be deteriorating.
In addition, Red Avenue New Materials Group has been paying dividends over a period of three years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 22% over the next three years. The fact that the company's ROE is expected to rise to 19% over the same period is explained by the drop in the payout ratio.
Summary
On the whole, we feel that the performance shown by Red Avenue New Materials Group can be open to many interpretations. 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. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. 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.
紅大道新材料集團(上海證券交易所代碼:603650)經歷了一個艱難的月份,其股價下跌了14%。然而,我們決定研究該公司的財務狀況,以確定它們是否與價格下跌有關。基本面通常決定市場結果,因此研究該公司的財務狀況是有意義的。具體地説,我們決定在本文中研究Red Avenue新材料集團的淨資產收益率。
淨資產收益率,即股本回報率,是評估一家公司從股東那裏獲得投資回報的有效程度的有用工具。簡而言之,淨資產收益率顯示了每一美元相對於其股東投資產生的利潤。
查看我們對Red Avenue新材料集團的最新分析
你如何計算股本回報率?
這個股本回報率公式是:
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,紅大道新材料集團的淨資產收益率為:
7.9%=2.31億元×29億元(以截至2022年3月的12個月為基礎)。
“回報”就是年度利潤。一種概念化的方法是,公司每擁有1元人民幣的股東資本,就會獲得0.08元人民幣的利潤。
為什麼淨資產收益率對收益增長很重要?
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。假設其他條件不變,淨資產收益率和利潤保留率越高,與不一定具有這些特徵的公司相比,公司的增長率就越高。
紅大道新材料集團盈利增長7.9%淨資產收益率
從表面上看,紅大道新材料集團的ROE並沒有太多可談的內容。然後,我們將該公司的淨資產收益率(ROE)與整個行業進行了比較,發現淨資產收益率低於10%的行業平均水平,這讓我們感到失望。因此,紅大道新材料集團過去五年的收益持平可能是其淨資產收益率較低的結果。
然後我們將紅大道新材料集團的淨收入增長與行業進行了對比,發現同期行業平均增速為19%。
上證綜指:過去603650的收益增長2022年7月28日賦予一家公司價值的基礎在很大程度上與其盈利增長掛鈎。對於投資者來説,重要的是知道市場是否已經消化了公司預期的收益增長(或下降)。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。如果你想知道紅大道新材料集團的估值,看看這個衡量其市盈率的指標,與其行業相比。
紅大道新材料集團是否有效地利用了其留存收益?
儘管過去三年的正常三年中值派息率為48%(這意味着公司保留了52%的收入),但正如我們上面看到的那樣,Red Avenue新材料集團的收益增長可以忽略不計。因此,在這方面可能有一些其他的解釋。例如,該公司的業務可能正在惡化。
此外,紅大道新材料集團在過去三年裏一直在支付股息,這表明保持股息支付對管理層來説要重要得多,即使這是以業務增長為代價的。在研究了最新的分析師共識數據後,我們發現,該公司未來三年的派息率預計將降至22%。預計該公司同期的淨資產收益率(ROE)將升至19%,原因是派息率下降。
摘要
總體來説,我們覺得紅大道新材料集團展示的表現可以有多種解讀。雖然該公司的再投資率確實很高,但低ROE意味着所有的再投資都沒有給投資者帶來任何好處,而且對收益增長產生了負面影響。既然如此,最新的行業分析師預測顯示,分析師們預計該公司的收益增長率將大幅提高。要了解更多分析師對該公司的最新預測,請查看分析師對該公司預測的可視化。
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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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。
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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。
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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