Do Its Financials Have Any Role To Play In Driving Chase Science Co., Ltd's (SZSE:300941) Stock Up Recently?
Do Its Financials Have Any Role To Play In Driving Chase Science Co., Ltd's (SZSE:300941) Stock Up Recently?
Chase Science (SZSE:300941) has had a great run on the share market with its stock up by a significant 15% over the last three months. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. Particularly, we will be paying attention to Chase Science's ROE today.
大通科学（深圳证券交易所代码：300941）在股票市场上表现良好，其股票在过去三个月中大幅上涨了15％。我们想知道公司的财务状况在价格变动中是否起着什么作用，因为公司的长期基本面通常决定市场业绩。特别是，我们今天将关注大通科学的投资回报率。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股本回报率或投资回报率是用于评估公司管理层利用公司资本效率的关键指标。简而言之，投资回报率显示了每美元从其股东投资中产生的利润。
Check out our latest analysis for Chase Science
查看我们对大通科学的最新分析
How Is ROE Calculated?
ROE 是如何计算的？
The formula for ROE is:
ROE 的公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润（来自持续经营业务）÷ 股东权益
So, based on the above formula, the ROE for Chase Science is:
因此，根据上述公式，大通科学的投资回报率为：
7.2% = CN¥90m ÷ CN¥1.2b (Based on the trailing twelve months to September 2023).
7.2% = 9000万元人民币 ÷ 12亿元人民币（基于截至2023年9月的过去十二个月）。
The 'return' is the income the business earned over the last year. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.07 in profit.
“回报” 是企业去年获得的收入。将其概念化的一种方法是，公司每拥有1元的股东资本，就能获得0.07元的利润。
Why Is ROE Important For Earnings Growth?
为什么投资回报率对收益增长很重要？
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.
到目前为止，我们已经了解到，投资回报率衡量的是公司创造利润的效率。根据公司选择将多少利润进行再投资或 “保留”，我们便能够评估公司未来创造利润的能力。假设其他一切保持不变，那么与不一定具有这些特征的公司相比，投资回报率和利润保留率越高，公司的增长率就越高。
Chase Science's Earnings Growth And 7.2% ROE
大通科学的收益增长和7.2％的投资回报率
On the face of it, Chase Science's ROE is not much to talk about. However, given that the company's ROE is similar to the average industry ROE of 6.6%, we may spare it some thought. On the other hand, Chase Science reported a moderate 6.3% net income growth over the past five years. Considering the moderately low ROE, it is quite possible that there might be some other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.
从表面上看，大通科学的投资回报率没什么好谈的。但是，鉴于该公司的投资回报率与6.6％的平均行业投资回报率相似，我们可以考虑一下。另一方面，大通科学报告称，在过去五年中，净收入温和增长了6.3％。考虑到投资回报率适中，很可能还有其他一些方面对公司的收益增长产生积极影响。例如，该公司的派息率较低或管理效率很高。
We then compared Chase Science's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 11% in the same 5-year period, which is a bit concerning.
然后，我们将大通科学的净收入增长与该行业进行了比较，发现该公司的增长数字低于同期11％的行业平均增长率，这有点令人担忧。
Earnings growth is a huge factor in stock valuation. 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. Is Chase Science fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增长是股票估值的重要因素。无论如何，投资者应设法确定预期的收益增长或下降是否已计入其中。然后，这可以帮助他们确定股票是面向光明还是暗淡的未来。与其他公司相比，大通科学的估值是否合理？这3种估值指标可能会帮助您做出决定。
Is Chase Science Making Efficient Use Of Its Profits?
大通科学是否在有效利用其利润？
With a three-year median payout ratio of 30% (implying that the company retains 70% of its profits), it seems that Chase Science is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.
大通科学的三年派息率中位数为30％（这意味着该公司保留了70％的利润），看来大通科学正在进行有效的再投资，其收益将实现可观的增长，并支付可观的股息。
Besides, Chase Science has been paying dividends over a period of three years. This shows that the company is committed to sharing profits with its shareholders.
此外，大通科学已经在三年内派发了股息。这表明该公司致力于与股东分享利润。
Summary
摘要
In total, it does look like Chase Science has some positive aspects to its business. 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. 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. Our risks dashboard would have the 2 risks we have identified for Chase Science.
总的来说，大通科学的业务看起来确实有一些积极的方面。也就是说，其可观的收益增长是由于保留了大部分利润而实现的。但是，鉴于投资回报率低，投资者毕竟可能无法从所有这些再投资中受益。虽然我们不会完全解散公司，但我们要做的是努力确定业务的风险，以便在公司周围做出更明智的决定。我们的风险仪表板将包含我们为大通科学确定的两种风险。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论，我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议，也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意，我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之，华尔街没有持有任何上述股票的头寸。