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Is Jiangsu Tongguang Electronic Wire & Cable Co., Ltd.'s (SZSE:300265) Stock Price Struggling As A Result Of Its Mixed Financials?
Is Jiangsu Tongguang Electronic Wire & Cable Co., Ltd.'s (SZSE:300265) Stock Price Struggling As A Result Of Its Mixed Financials?
It is hard to get excited after looking at Jiangsu Tongguang Electronic Wire & Cable's (SZSE:300265) recent performance, when its stock has declined 19% over the past month. It seems that the market might have completely ignored the positive aspects of the company's fundamentals and decided to weigh-in more on the negative aspects. Stock prices are usually driven by a company's financial performance over the long term, and therefore we decided to pay more attention to the company's financial performance. In this article, we decided to focus on Jiangsu Tongguang Electronic Wire & Cable's ROE.
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
Check out our latest analysis for Jiangsu Tongguang Electronic Wire & Cable
How To Calculate Return On Equity?
ROE 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 Jiangsu Tongguang Electronic Wire & Cable is:
4.1% = CN¥56m ÷ CN¥1.4b (Based on the trailing twelve months to June 2022).
The 'return' is the yearly profit. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.04 in profit.
What Is The Relationship Between ROE And 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. 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.
A Side By Side comparison of Jiangsu Tongguang Electronic Wire & Cable's Earnings Growth And 4.1% ROE
It is hard to argue that Jiangsu Tongguang Electronic Wire & Cable's ROE is much good in and of itself. Even when compared to the industry average of 8.8%, the ROE figure is pretty disappointing. For this reason, Jiangsu Tongguang Electronic Wire & Cable's five year net income decline of 3.5% is not surprising given its lower ROE. We reckon that there could also be other factors at play here. For instance, the company has a very high payout ratio, or is faced with competitive pressures.
So, as a next step, we compared Jiangsu Tongguang Electronic Wire & Cable's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 14% in the same period.
SZSE:300265 Past Earnings Growth September 20th 2022The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Jiangsu Tongguang Electronic Wire & Cable's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
Is Jiangsu Tongguang Electronic Wire & Cable Efficiently Re-investing Its Profits?
When we piece together Jiangsu Tongguang Electronic Wire & Cable's low three-year median payout ratio of 15% (where it is retaining 85% of its profits), calculated for the last three-year period, we are puzzled by the lack of growth. The low payout should mean that the company is retaining most of its earnings and consequently, should see some growth. So there could be some other explanations in that regard. For example, the company's business may be deteriorating.
Moreover, Jiangsu Tongguang Electronic Wire & Cable has been paying dividends for at least ten years or more suggesting that management must have perceived that the shareholders prefer dividends over earnings growth.
Summary
In total, we're a bit ambivalent about Jiangsu Tongguang Electronic Wire & Cable's performance. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. To know the 4 risks we have identified for Jiangsu Tongguang Electronic Wire & Cable visit our risks dashboard for free.
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.
看到江蘇通廣電子電線電纜(SZSE:300265)最近的表現,很難感到興奮,它的股票在過去一個月裏下跌了19%。市場似乎完全忽視了該公司基本面的積極方面,而決定更多地關注負面方面。股票價格通常是由公司的長期財務表現推動的,因此我們決定更多地關注公司的財務表現。在本文中,我們決定將重點放在江蘇通廣電子線纜的淨資產收益率上。
股本回報率或淨資產收益率是股東要考慮的一個重要因素,因為它告訴他們他們的資本再投資的效率。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。
查看我們對江蘇通廣電子電線電纜的最新分析
如何計算股本回報率?
可使用以下公式計算淨資產收益率:
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,江蘇銅光電子電線電纜的淨資產收益率為:
4.1%=CN元5600萬×CN元14億元(基於截至2022年6月的12個月)。
“回報”就是年度利潤。這意味着,股東權益每增加1元,公司就會產生0.04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。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。
江蘇通廣電子線纜盈利增長與淨資產收益率4.1%的並列比較
很難説江蘇通廣電子線纜的淨資產收益率本身就很好。即使與8.8%的行業平均水平相比,淨資產收益率也是相當令人失望的。因此,江蘇銅光電子線纜五年來淨利潤下降3.5%並不令人意外,因為它的淨資產收益率較低。我們認為,可能還有其他因素在起作用。例如,該公司的派息率非常高,或者面臨競爭壓力。
因此,作為下一步,我們將江蘇銅光電子線纜的表現與行業進行了比較,令人失望的是,儘管該公司的收益一直在縮水,但同期該行業的收益一直以14%的速度增長。
深圳證交所:過去300265的收益增長2022年9月20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。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。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。如果你想知道江蘇銅光電子線纜的估值,看看這個市盈率指標,看看它與行業的對比。
江蘇通廣電子電線電纜是否有效地進行了利潤再投資?
當我們把過去三年江蘇通廣電子線纜公司較低的三年中值派息率15%(該公司保留了85%的利潤)拼湊在一起時,我們對增長乏力感到困惑。較低的派息應該意味着該公司保留了大部分收益,因此應該會看到一些增長。因此,在這方面可能會有其他一些解釋。例如,該公司的業務可能正在惡化。
此外,江蘇通廣電子線纜至少在十年或更長時間內一直在分紅,這表明管理層肯定已經意識到,股東更喜歡分紅,而不是盈利增長。
摘要
總體而言,我們對江蘇通廣電子線纜的表現有些矛盾。雖然該公司的利潤留存率確實很高,但其低迴報率可能正在阻礙其收益增長。總而言之,我們將謹慎對待這家公司,其中一種方法是查看業務的風險概況。要了解我們為江蘇通廣電子電線電纜確定的4個風險,請免費訪問我們的風險儀錶板。
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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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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