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Could The Market Be Wrong About Kingboard Laminates Holdings Limited (HKG:1888) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About Kingboard Laminates Holdings Limited (HKG:1888) Given Its Attractive Financial Prospects?
With its stock down 28% over the past three months, it is easy to disregard Kingboard Laminates Holdings (HKG:1888). 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. Particularly, we will be paying attention to Kingboard Laminates Holdings' ROE today.
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. Put another way, it reveals the company's success at turning shareholder investments into profits.
See our latest analysis for Kingboard Laminates Holdings
How Do You Calculate Return On Equity?
The formula for ROE is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Kingboard Laminates Holdings is:
32% = HK$5.3b ÷ HK$16b (Based on the trailing twelve months to June 2022).
The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each HK$1 of shareholders' capital it has, the company made HK$0.32 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.
A Side By Side comparison of Kingboard Laminates Holdings' Earnings Growth And 32% ROE
To begin with, Kingboard Laminates Holdings has a pretty high ROE which is interesting. Second, a comparison with the average ROE reported by the industry of 8.9% also doesn't go unnoticed by us. This likely paved the way for the modest 8.3% net income growth seen by Kingboard Laminates Holdings over the past five years. growth
Next, on comparing Kingboard Laminates Holdings' net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 9.1% in the same period.
SEHK:1888 Past Earnings Growth September 27th 2022Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. 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 Kingboard Laminates Holdings''s valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
Is Kingboard Laminates Holdings Using Its Retained Earnings Effectively?
While Kingboard Laminates Holdings has a three-year median payout ratio of 54% (which means it retains 46% of profits), the company has still seen a fair bit of earnings growth in the past, meaning that its high payout ratio hasn't hampered its ability to grow.
Additionally, Kingboard Laminates Holdings 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. Our latest analyst data shows that the future payout ratio of the company over the next three years is expected to be approximately 54%. Regardless, Kingboard Laminates Holdings' ROE is speculated to decline to 20% despite there being no anticipated change in its payout ratio.
Summary
In total, we are pretty happy with Kingboard Laminates Holdings' performance. In particular, its high ROE is quite noteworthy and also the probable explanation behind its considerable earnings growth. Yet, the company is retaining a small portion of its profits. Which means that the company has been able to grow its earnings in spite of it, so that's not too bad. That being so, according to the latest industry analyst forecasts, the company's earnings are expected to shrink in the future. 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.
在過去三個月股價下跌28%的情況下,人們很容易忽視建滔積層板控股公司(HKG:1888)。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。今天,我們將特別關注建滔積層板控股的淨資產收益率。
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。換句話説,它揭示了該公司成功地將股東投資轉化為利潤。
查看我們對建滔積層板控股公司的最新分析
你如何計算股本回報率?
這個淨資產收益率公式是:
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,建滔積層板控股的淨資產收益率為:
32%=53億港元×160億港元(根據截至2022年6月的過去12個月計算)。
“收益”是過去12個月的利潤。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0.32港元的利潤。
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。
建滔積層板業盈利增長與淨資產收益率32%的並列比較
首先,建滔積層板控股擁有相當高的淨資產收益率,這是很有趣的。其次,與業內報告的8.9%的平均淨資產收益率相比,我們也注意到了這一點。這可能為建滔集團過去五年8.3%的淨利潤小幅增長鋪平了道路。生長
接下來,將建滔積層板控股的淨收入增長與行業進行比較,我們發現該公司的報告增長與同期9.1%的行業平均增長率相似。
聯交所:1888過去盈利增長2022年9月27日盈利增長是評估一隻股票時需要考慮的一個重要指標。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。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。如果你想知道建滔積層板控股公司的估值,請看看這個衡量其市盈率的指標,與其行業相比。
建滔積層板業是否有效利用其留存收益?
儘管建滔積層板控股的三年派息率中值為54%(這意味着它保留了46%的利潤),但該公司過去仍有相當大的收益增長,這意味着其高派息率並未阻礙其增長能力。
此外,建滔積層板控股公司在至少十年的時間裏支付了股息,這意味着該公司對與股東分享利潤是相當認真的。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54%。無論如何,建滔積層板控股的淨資產收益率預計將下降至20%,儘管其派息率沒有預期的變化。
摘要
總體而言,我們對建滔積層板控股的表現相當滿意。特別是,其高淨資產收益率相當值得注意,也是其可觀收益增長背後的可能解釋。然而,該公司保留了一小部分利潤。這意味着,儘管如此,該公司仍能實現收益增長,所以這並不是太糟糕。在這種情況下,根據最新的行業分析師預測,該公司未來的收益預計將縮水。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。
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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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