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Declining Stock and Decent Financials: Is The Market Wrong About Shenzhou International Group Holdings Limited (HKG:2313)?
Declining Stock and Decent Financials: Is The Market Wrong About Shenzhou International Group Holdings Limited (HKG:2313)?
With its stock down 23% over the past three months, it is easy to disregard Shenzhou International Group Holdings (HKG:2313). However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. Particularly, we will be paying attention to Shenzhou International Group 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. Put another way, it reveals the company's success at turning shareholder investments into profits.
Check out our latest analysis for Shenzhou International Group 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 Shenzhou International Group Holdings is:
12% = CN¥3.5b ÷ CN¥30b (Based on the trailing twelve months to June 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$0.12 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. 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 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.
Shenzhou International Group Holdings' Earnings Growth And 12% ROE
To start with, Shenzhou International Group Holdings' ROE looks acceptable. Even when compared to the industry average of 12% the company's ROE looks quite decent. Given the circumstances, we can't help but wonder why Shenzhou International Group Holdings saw little to no growth in the past five years. So, there could be some other aspects that could potentially be preventing the company from growing. These include low earnings retention or poor allocation of capital.
Next, on comparing Shenzhou International Group Holdings' net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 1.3% in the same period.
SEHK:2313 Past Earnings Growth November 28th 2022The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. Has the market priced in the future outlook for 2313? You can find out in our latest intrinsic value infographic research report.
Is Shenzhou International Group Holdings Using Its Retained Earnings Effectively?
The high three-year median payout ratio of 51% (meaning, the company retains only 49% of profits) for Shenzhou International Group Holdings suggests that the company's earnings growth was miniscule as a result of paying out a majority of its earnings.
Moreover, Shenzhou International Group Holdings 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. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 59% of its profits over the next three years. Still, forecasts suggest that Shenzhou International Group Holdings' future ROE will rise to 22% even though the the company's payout ratio is not expected to change by much.
Conclusion
On the whole, we do feel that Shenzhou International Group Holdings has some positive attributes. The company has grown its earnings moderately as previously discussed. Still, the high ROE could have been even more beneficial to investors had the company been reinvesting more of its profits. As highlighted earlier, the current reinvestment rate appears to be quite low. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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.
在過去三個月其股價下跌23%的情況下,很容易忽視申洲國際控股(HKG:2313)。然而,該公司的基本面看起來相當不錯,長期財務狀況通常與未來的市場價格走勢保持一致。今天我們特別關注申洲國際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。換句話説,它揭示了該公司成功地將股東投資轉化為利潤。
查看我們對申洲國際控股的最新分析
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,申洲國際控股的淨資產收益率為:
12%=35億元×300億元(以截至2022年6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0.12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。
申洲國際控股的盈利增長和12%的淨資產收益率
首先,申洲國際控股的淨資產收益率看起來可以接受。即使與12%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。在這種情況下,我們不禁要問,為什麼申洲國際控股在過去五年裏幾乎沒有增長。因此,可能還有其他一些方面可能會阻礙該公司的增長。這些問題包括低收益留存或資本配置不善。
接下來,我們對比申洲國際控股的淨收入增長與行業發現,該公司公佈的增長與同期1.3%的行業平均增長率相似。
聯交所:2313過去盈利增長2022年11月28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。市場是否已經消化了2313年的未來前景?你可以在我們最新的內在價值信息圖研究報告中找到答案。
申洲國際控股是否有效地利用了其留存收益?
申洲國際控股的三年派息率中值為51%(這意味着該公司只保留49%的利潤),這表明該公司的收益增長微不足道,因為它支付了大部分收益。
此外,申洲國際控股至少在十年或更長時間裏一直在支付股息,這表明管理層肯定已經意識到,與盈利增長相比,股東更喜歡股息。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59%的利潤。儘管如此,預測顯示申洲國際控股未來的淨資產收益率將升至22%,儘管該公司的派息率預計不會有太大變化。
結論
總體而言,我們確實覺得申洲國際控股有一些積極的屬性。正如之前討論的那樣,該公司的收益實現了適度增長。儘管如此,如果該公司將更多利潤進行再投資,高ROE可能會對投資者更有利。正如前面強調的那樣,目前的再投資率似乎相當低。話雖如此,但從目前分析師的預估來看,我們發現該公司的盈利勢頭有望增強。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。
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。
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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