Lontium Semiconductor Corporation's (SHSE:688486) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Lontium Semiconductor Corporation's (SHSE:688486) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Lontium Semiconductor (SHSE:688486) has had a rough week with its share price down 5.6%. But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. In this article, we decided to focus on Lontium Semiconductor's ROE.
朗腾半导体(上海证券交易所代码：688486)经历了艰难的一周，其股价下跌了5.6%。但如果你密切关注，你可能会发现，该公司的关键财务指标看起来相当不错，这可能意味着，鉴于市场通常会奖励更具弹性的长期基本面因素，该股可能会在长期内上涨。在本文中，我们决定将重点放在朗腾半导体的净资产收益率上。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股本回报率(ROE)是对一家公司增值和管理投资者资金的效率的测试。简而言之，净资产收益率显示了每一美元相对于其股东投资产生的利润。
View our latest analysis for Lontium Semiconductor
查看我们对朗腾半导体的最新分析
How To Calculate Return On Equity?
如何计算股本回报率？
The formula for ROE is:
这个净资产收益率公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润？股东权益
So, based on the above formula, the ROE for Lontium Semiconductor is:
因此，根据上述公式，朗腾半导体的净资产收益率为：
5.2% = CN¥71m ÷ CN¥1.4b (Based on the trailing twelve months to June 2023).
5.2%=7100万元×14亿元(以截至2023年6月的12个月为基础)。
The 'return' is the yearly profit. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.05 in profit.
“回报”就是年度利润。一种概念化的方法是，公司每拥有1元人民币的股东资本，就会获得0.05元人民币的利润。
What Has ROE Got To Do With Earnings Growth?
净资产收益率与盈利增长有什么关系？
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. 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.
到目前为止，我们了解到净资产收益率是衡量一家公司盈利能力的指标。根据公司选择再投资或“保留”多少利润，我们就能够评估一家公司未来产生利润的能力。一般来说，在其他条件相同的情况下，股本回报率和利润留存较高的公司比不具备这些特征的公司有更高的增长率。
Lontium Semiconductor's Earnings Growth And 5.2% ROE
朗腾半导体的盈利增长和5.2%的净资产收益率
At first glance, Lontium Semiconductor's ROE doesn't look very promising. Yet, a closer study shows that the company's ROE is similar to the industry average of 5.6%. Even so, Lontium Semiconductor has shown a fairly decent growth in its net income which grew at a rate of 19%. Given the slightly low ROE, it is likely that there could be some other aspects that are driving this growth. Such as - high earnings retention or an efficient management in place.
乍一看，朗腾半导体的净资产收益率看起来并不是很有希望。然而，一项更仔细的研究表明，该公司的净资产收益率(ROE)接近5.6%的行业平均水平。即便如此，朗腾半导体的净利润也出现了相当不错的增长，增长率为19%。鉴于净资产收益率略低，很可能还有其他一些方面在推动这一增长。例如-高收益留存或有效的管理到位。
Next, on comparing with the industry net income growth, we found that Lontium Semiconductor's reported growth was lower than the industry growth of 29% over the last few years, which is not something we like to see.
接下来，对比行业净收入增长，我们发现朗腾半导体过去几年的报告增长低于行业29%的增长，这是我们不愿意看到的。
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Lontium Semiconductor's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
盈利增长是股票估值的一个重要因素。对于投资者来说，重要的是知道市场是否已经消化了公司预期的收益增长(或下降)。这样做将有助于他们确定该股的未来看起来是光明的还是不祥的。如果你想知道朗腾半导体的估值，看看这个衡量其市盈率的指标，与其行业相比。
Is Lontium Semiconductor Efficiently Re-investing Its Profits?
朗腾半导体是否有效地对其利润进行了再投资？
Lontium Semiconductor has a healthy combination of a moderate three-year median payout ratio of 30% (or a retention ratio of 70%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.
如上所述，朗腾半导体拥有30%的适度三年中值派息率(或70%的留存率)和可观的收益增长的健康组合，这意味着该公司一直在有效地利用其利润。
Conclusion
结论
On the whole, we do feel that Lontium Semiconductor has some positive attributes. Namely, its respectable earnings growth, which it achieved due to it retaining most of its profits. However, given the low ROE, investors may not be benefitting from all that reinvestment after all. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
总体而言，我们确实觉得朗腾半导体有一些积极的属性。即其可观的收益增长，这要归功于它保留了大部分利润。然而，鉴于净资产收益率较低，投资者可能终究不会从所有这些再投资中受益。尽管如此，最新的行业分析师预测显示，该公司的收益预计将加速增长。这些分析师的预期是基于对该行业的广泛预期，还是基于该公司的基本面？点击此处进入我们分析师对该公司的预测页面。
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