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Will Weakness in Bosideng International Holdings Limited's (HKG:3998) Stock Prove Temporary Given Strong Fundamentals?
Will Weakness in Bosideng International Holdings Limited's (HKG:3998) Stock Prove Temporary Given Strong Fundamentals?
Bosideng International Holdings (HKG:3998) has had a rough month with its share price down 11%. 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 Bosideng International Holdings' 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. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
View our latest analysis for Bosideng International Holdings
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 Bosideng International Holdings is:
17% = CN¥2.1b ÷ CN¥12b (Based on the trailing twelve months to March 2022).
The 'return' is the income the business earned over the last year. That means that for every HK$1 worth of shareholders' equity, the company generated HK$0.17 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. 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 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.
Bosideng International Holdings' Earnings Growth And 17% ROE
To start with, Bosideng International Holdings' ROE looks acceptable. Especially when compared to the industry average of 12% the company's ROE looks pretty impressive. This certainly adds some context to Bosideng International Holdings' exceptional 31% net income growth seen over the past five years. However, there could also be other causes behind this growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
We then compared Bosideng International Holdings' net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 1.0% in the same period.
SEHK:3998 Past Earnings Growth September 10th 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. 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 Bosideng International Holdings is trading on a high P/E or a low P/E, relative to its industry.
Is Bosideng International Holdings Using Its Retained Earnings Effectively?
The high three-year median payout ratio of 73% (implying that it keeps only 27% of profits) for Bosideng International Holdings suggests that the company's growth wasn't really hampered despite it returning most of the earnings to its shareholders.
Moreover, Bosideng International Holdings is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years. Based on the latest analysts' estimates, we found that the company's future payout ratio over the next three years is expected to hold steady at 69%. Still, forecasts suggest that Bosideng International Holdings' future ROE will rise to 23% even though the the company's payout ratio is not expected to change by much.
Summary
Overall, we are quite pleased with Bosideng International Holdings' performance. We are particularly impressed by the considerable earnings growth posted by the company, which was likely backed by its high ROE. While the company is paying out most of its earnings as dividends, it has been able to grow its earnings in spite of it, so that's probably a good sign. 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 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.
波司登控股(HKG:3998)經歷了一個艱難的月份,其股價下跌了11%。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。今天我們特別關注波司登控股的淨資產收益率。
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,它是用來評估一家公司相對於其權益資本的盈利能力。
查看我們對波司登控股的最新分析
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,波司登控股的淨資產收益率為:
17%=CN元21億×CN元120億(以截至2022年3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。這意味着,每1港元的股東權益,該公司就會產生0.17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。
波司登控股的盈利增長和17%的淨資產收益率
首先,波司登控股的淨資產收益率看起來可以接受。特別是與12%的行業平均水平相比,該公司的淨資產收益率(ROE)看起來相當令人印象深刻。這無疑為波司登控股在過去五年中31%的淨利潤增長提供了一些背景。然而,這種增長背後也可能有其他原因。例如,公司管理層可能做出了一些良好的戰略決策,或者公司的派息率較低。
然後,我們將波司登控股的淨收入增長與行業進行了比較,我們很高興地看到,該公司的增長數字高於同期行業1.0%的增長率。
聯交所:3998過去盈利增長2022年9月10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。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,你可能想看看波司登控股相對於其行業是高市盈率還是低市盈率。
波司登控股是否有效地利用了其留存收益?
波司登控股的三年中值股息率高達73%(這意味着它只保留利潤的27%),這表明儘管該公司將大部分收益返還給股東,但該公司的增長並未受到真正的阻礙。
此外,波司登控股決心繼續與股東分享其利潤,這是我們從其至少十年的派息歷史中推斷的。根據最新的分析師預估,我們發現該公司未來三年的派息比率預計將穩定在69%。儘管如此,預測顯示波司登控股未來的淨資產收益率將升至23%,儘管該公司的派息率預計不會有太大變化。
摘要
總體而言,我們對波司登控股的表現相當滿意。該公司公佈的可觀收益增長給我們留下了特別深刻的印象,這可能是由其高ROE支持的。雖然該公司將大部分收益作為股息支付,但它仍然能夠實現收益增長,因此這可能是一個好跡象。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。
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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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