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Declining Stock and Solid Fundamentals: Is The Market Wrong About Pop Mart International Group Limited (HKG:9992)?
Declining Stock and Solid Fundamentals: Is The Market Wrong About Pop Mart International Group Limited (HKG:9992)?
Pop Mart International Group (HKG:9992) has had a rough three months with its share price down 36%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. Specifically, we decided to study Pop Mart International Group'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. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
View our latest analysis for Pop Mart International 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 Pop Mart International Group is:
13% = CN¥855m ÷ CN¥6.8b (Based on the trailing twelve months to December 2021).
The 'return' is the income the business earned over the last year. So, this means that for every HK$1 of its shareholder's investments, the company generates a profit of HK$0.13.
What Has ROE Got To Do With Earnings Growth?
So far, we've learned that ROE is a measure of a company's profitability. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
A Side By Side comparison of Pop Mart International Group's Earnings Growth And 13% ROE
To start with, Pop Mart International Group's ROE looks acceptable. Even when compared to the industry average of 11% the company's ROE looks quite decent. This certainly adds some context to Pop Mart International Group's exceptional 43% net income growth seen over the past five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.
As a next step, we compared Pop Mart International Group'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 7.1%.
SEHK:9992 Past Earnings Growth August 24th 2022Earnings 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). Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Pop Mart International Group's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
Is Pop Mart International Group Making Efficient Use Of Its Profits?
The three-year median payout ratio for Pop Mart International Group is 26%, which is moderately low. The company is retaining the remaining 74%. This suggests that its dividend is well covered, and given the high growth we discussed above, it looks like Pop Mart International Group is reinvesting its earnings efficiently.
While Pop Mart International Group has seen growth in its earnings, it only recently started to pay a dividend. It is most likely that the company decided to impress new and existing shareholders with a dividend. Our latest analyst data shows that the future payout ratio of the company over the next three years is expected to be approximately 23%. Still, forecasts suggest that Pop Mart International Group's future ROE will rise to 20% even though the the company's payout ratio is not expected to change by much.
Conclusion
On the whole, we feel that Pop Mart International Group's performance has been quite good. 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. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
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.
泡泡瑪特集團(HKG:9992)經歷了艱難的三個月,股價下跌了36%。但如果你仔細觀察,你可能會猜到,它強勁的財務狀況可能意味着,考慮到市場通常會獎勵財務狀況良好的公司,該股可能會在長期內增值。具體地説,我們決定在本文中研究泡泡瑪特集團的淨資產收益率。
股本回報率(ROE)是對一家公司增值和管理投資者資金的效率的測試。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。
查看我們對泡泡瑪特集團的最新分析
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,泡泡瑪特集團的淨資產收益率為:
13%=8.55億元×68億元(以截至2021年12月的12個月為基礎)。
“回報”指的是企業在過去一年中獲得的收入。因此,這意味着股東每投資1港元,公司就會產生0.13港元的利潤。
淨資產收益率與盈利增長有什麼關係?
到目前為止,我們瞭解到淨資產收益率是衡量一家公司盈利能力的指標。我們現在需要評估公司將多少利潤再投資或“保留”用於未來的增長,這就讓我們對公司的增長潛力有了一個瞭解。假設其他條件相同,與沒有相同特徵的公司相比,擁有更高股本回報率和更高利潤保留率的公司通常會有更高的增長率。
泡泡瑪特集團盈利增長與13%淨資產收益率的並列比較
首先,泡泡瑪特集團的淨資產收益率看起來可以接受。即使與11%的行業平均水平相比,該公司的淨資產收益率看起來也相當不錯。這無疑為泡泡瑪特集團在過去五年中43%的淨利潤增長增添了一些背景。我們認為,可能還有其他方面正在積極影響公司的收益增長。例如,該公司的派息率較低或管理效率較高。
下一步,我們將泡泡瑪特集團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7.1%的增長。
聯交所:9992過去盈利增長2022年8月24日盈利增長是評估一隻股票時需要考慮的一個重要指標。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)。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。如果你想知道泡泡瑪特集團的估值,看看這個衡量其市盈率的指標,與其行業相比。
泡泡瑪特集團是否有效利用了利潤?
泡泡瑪特集團的三年派息率中值為26%,屬於中等偏低水平。該公司將保留剩餘的74%。這表明,泡泡瑪特集團的股息得到了很好的覆蓋,考慮到我們上面討論的高增長,它似乎正在有效地將收益進行再投資。
雖然泡泡瑪特集團的盈利有所增長,但它最近才開始派發股息。最有可能的是,該公司決定用股息給新股東和現有股東留下深刻印象。我們最新的分析師數據顯示,該公司未來三年的派息率預計約為23%。儘管如此,預測顯示泡泡瑪特集團未來的淨資產收益率將升至20%,儘管該公司的派息率預計不會有太大變化。
結論
整體來説,我們覺得泡泡瑪特集團的表現相當不錯。特別是,我們喜歡該公司對其業務進行大量再投資,並以高回報率進行投資。不出所料,這導致了令人印象深刻的收益增長。既然如此,一項對最新分析師預測的研究表明,預計該公司未來的收益增長將放緩。要了解更多有關該公司未來收益增長預測的信息,請查看以下內容免費報告分析師對該公司的預測,以瞭解更多信息。
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。
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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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