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Orient Overseas (International) Limited's (HKG:316) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
Orient Overseas (International) Limited's (HKG:316) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
It is hard to get excited after looking at Orient Overseas (International)'s (HKG:316) recent performance, when its stock has declined 12% over the past month. 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. Particularly, we will be paying attention to Orient Overseas (International)'s ROE today.
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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
See our latest analysis for Orient Overseas (International)
How Is ROE Calculated?
Return on equity 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 Orient Overseas (International) is:
76% = US$10.0b ÷ US$13b (Based on the trailing twelve months to June 2022).
The 'return' is the yearly profit. One way to conceptualize this is that for each HK$1 of shareholders' capital it has, the company made HK$0.76 in profit.
What Has ROE Got To Do With Earnings Growth?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. 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.
Orient Overseas (International)'s Earnings Growth And 76% ROE
First thing first, we like that Orient Overseas (International) has an impressive ROE. Second, a comparison with the average ROE reported by the industry of 29% also doesn't go unnoticed by us. As a result, Orient Overseas (International)'s exceptional 84% net income growth seen over the past five years, doesn't come as a surprise.
As a next step, we compared Orient Overseas (International)'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 44%.
SEHK:316 Past Earnings Growth August 22nd 2022Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. 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 Orient Overseas (International) is trading on a high P/E or a low P/E, relative to its industry.
Is Orient Overseas (International) Making Efficient Use Of Its Profits?
Orient Overseas (International)'s three-year median payout ratio is a pretty moderate 39%, meaning the company retains 61% of its income. This suggests that its dividend is well covered, and given the high growth we discussed above, it looks like Orient Overseas (International) is reinvesting its earnings efficiently.
Additionally, Orient Overseas (International) has paid dividends over a period of at least ten years which means that the company is pretty serious about sharing its profits with shareholders. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 44% of its profits over the next three years. Still, forecasts suggest that Orient Overseas (International)'s future ROE will drop to 35% even though the the company's payout ratio is not expected to change by much.
Conclusion
In total, we are pretty happy with Orient Overseas (International)'s performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. With that said, on studying the latest analyst forecasts, we found that while the company has seen growth in its past earnings, analysts expect its future earnings to shrink. 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.
看到東方海外國際(國際)(HKG:316)最近的表現,很難感到興奮,其股票在過去一個月裏下跌了12%。然而,仔細觀察其穩健的財務狀況可能會讓你三思。鑑於基本面通常決定長期市場結果,該公司值得一看。尤其是,我們今天將關注東方海外國際(國際)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。換句話説,這是一個衡量公司股東提供的資本回報率的盈利比率。
請看我們對東方海外國際(國際)的最新分析
淨資產收益率是如何計算的?
股本回報率可使用以下公式計算:
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,東方海外國際(國際)的淨資產收益率為:
76%=100億美元×130億美元(基於截至2022年6月的12個月)。
“回報”就是年度利潤。一種將其概念化的方法是,公司每持有1港元的股東資本,就能獲得0.76港元的利潤。
淨資產收益率與盈利增長有什麼關係?
我們已經證實,淨資產收益率是一家公司未來收益的有效盈利指標。根據公司將這些利潤再投資或“保留”多少,以及這樣做的效率如何,我們就能夠評估一家公司的收益增長潛力。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。
東方海外國際(國際)的盈利增長和76%的淨資產收益率
首先,我們喜歡東方海外國際(國際)令人印象深刻的淨資產收益率。其次,與業內報告的平均淨資產收益率(ROE)29%相比,我們也注意到了這一點。因此,東方海外國際(國際)在過去五年中實現了84%的超乎尋常的淨收入增長,這並不令人驚訝。
下一步,我們將東方海外國際(國際)的淨收入增長與行業進行了比較,令人欣喜的是,我們發現該公司看到的增長高於行業平均44%的增長。
聯交所:316過去盈利增長2022年8月22日盈利增長是股票估值的一個重要因素。投資者下一步需要確定的是,預期的收益增長是否已經計入了股價。這樣做將有助於他們確定該股的未來看起來是光明的還是不祥的。衡量預期收益增長的一個很好的指標是市盈率,它根據一隻股票的盈利前景決定市場願意為其支付的價格。因此,你可能想看看東方海外國際(國際)相對於其行業是高市盈率還是低市盈率。
東方海外國際(國際)是否在有效利用其利潤?
東方海外國際(國際)的三年中值派息率是相當適中的39%,這意味着該公司保留了其收入的61%。這表明它的股息得到了很好的覆蓋,考慮到我們上面討論的高增長,看起來東方海外國際(國際)正在有效地對其收益進行再投資。
此外,東方海外國際(國際)至少在十年內派發了股息,這意味着公司對與股東分享利潤是相當認真的。在研究了最新的分析師共識數據後,我們發現,預計該公司將在未來三年繼續支付約44%的利潤。儘管如此,預測顯示東方海外國際(國際)未來的淨資產收益率將降至35%,儘管該公司的派息率預計不會有太大變化。
結論
總體而言,我們對東方海外國際(國際)的表現相當滿意。尤其是,我們喜歡該公司對其業務進行了大量再投資,並獲得了高回報。不出所料,這帶來了令人印象深刻的收益增長。話雖如此,在研究最新分析師預測時,我們發現,儘管該公司過去的收益有所增長,但分析師預計其未來收益將會收縮。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?點擊此處進入我們的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。
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。
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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。
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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