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Has Zhongjin Irradiation Incorporated Company's (SZSE:300962) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
Has Zhongjin Irradiation Incorporated Company's (SZSE:300962) Impressive Stock Performance Got Anything to Do With Its Fundamentals?
Zhongjin Irradiation (SZSE:300962) has had a great run on the share market with its stock up by a significant 11% over the last three months. As most would know, fundamentals are what usually guide market price movements over the long-term, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. In this article, we decided to focus on Zhongjin Irradiation's ROE.
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
See our latest analysis for Zhongjin Irradiation
How To 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 Zhongjin Irradiation is:
11% = CN¥103m ÷ CN¥946m (Based on the trailing twelve months to September 2022).
The 'return' refers to a company's earnings over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.11.
What Has ROE Got To Do With Earnings Growth?
So far, we've learned that ROE is a measure of a company's profitability. 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.
A Side By Side comparison of Zhongjin Irradiation's Earnings Growth And 11% ROE
At first glance, Zhongjin Irradiation's ROE doesn't look very promising. However, given that the company's ROE is similar to the average industry ROE of 9.8%, we may spare it some thought. On the other hand, Zhongjin Irradiation reported a moderate 17% net income growth over the past five years. Given the slightly low ROE, it is likely that there could be some other aspects that are driving 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 Zhongjin Irradiation's 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 8.9% in the same period.
SZSE:300962 Past Earnings Growth December 6th 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. This then helps them determine if the stock is placed for a bright or bleak future. 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 Zhongjin Irradiation is trading on a high P/E or a low P/E, relative to its industry.
Is Zhongjin Irradiation Making Efficient Use Of Its Profits?
Zhongjin Irradiation has a healthy combination of a moderate three-year median payout ratio of 33% (or a retention ratio of 67%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.
While Zhongjin Irradiation 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.
Conclusion
Overall, we feel that Zhongjin Irradiation certainly does have some positive factors to consider. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. To know the 1 risk we have identified for Zhongjin Irradiation 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.
中金輻射(SZSE:300962)的股票在過去三個月裏大幅上漲了11%。正如大多數人都知道的那樣,基本面因素通常是長期市場價格走勢的指引,因此我們決定今天查看該公司的關鍵財務指標,以確定它們是否對最近的價格走勢起到了作用。在本文中,我們決定將重點放在中金輻射的淨資產收益率上。
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。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。
請看我們對中金輻射的最新分析
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,中金照射的淨資產收益率為:
11%=1.03億元×9.46億元(以截至2022年9月的12個月為基礎)。
“回報”指的是一家公司過去一年的收益。因此,這意味着股東每投資1元人民幣,公司就會產生0.11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。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。
中金輻射盈利增長與11%淨資產收益率的並列比較
乍一看,中金照射的淨資產收益率看起來並不是很有希望。然而,鑑於該公司的淨資產收益率(ROE)與9.8%的行業平均ROE相似,我們或許可以省去一些思考。另一方面,中金照射報告稱,過去五年淨收入温和增長17%。鑑於淨資產收益率略低,很可能還有其他一些方面在推動這一增長。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,我們將中金輻射的淨收入增長與行業進行了比較,我們很高興地看到,與同期8.9%的行業增長率相比,該公司的增長數字更高。
深圳證交所:過去300962的收益增長2022年12月6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。這有助於他們確定這隻股票是為光明還是黯淡的未來做準備。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,你可能想看看中金輻射相對於其行業是高市盈率還是低市盈率。
中金輻射是否有效利用了利潤?
如上所述,中金輻射擁有33%的適度三年中值派息率(或67%的留存率)和可觀的收益增長的健康組合,這意味着該公司一直在有效利用其利潤。
儘管中金輻射的收益有所增長,但它直到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。
結論
總體而言,我們覺得中金輻射確實有一些積極的因素需要考慮。儘管回報率很低,但由於對業務進行了大量再投資,該公司實現了令人印象深刻的收益增長。雖然我們不會完全解僱這家公司,但我們要做的是努力確定這項業務在公司周圍做出更明智的決定的風險有多大。要了解我們為中金輻射確定的1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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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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