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Are Robust Financials Driving The Recent Rally In Zangge Mining Company Limited's (SZSE:000408) Stock?

Are Robust Financials Driving The Recent Rally In Zangge Mining Company Limited's (SZSE:000408) Stock?

强劲的财务状况是否推动了藏格矿业有限公司(深圳证券交易所代码:000408)股票最近的上涨?
Simply Wall St ·  05/20 21:36

Most readers would already be aware that Zangge Mining's (SZSE:000408) stock increased significantly by 10% over the past three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. In this article, we decided to focus on Zangge Mining's ROE.

大多数读者已经意识到,藏格矿业(深圳证券交易所代码:000408)的股票在过去三个月中大幅增长了10%。由于市场通常会为公司的长期基本面买单,因此我们决定研究公司的关键绩效指标,看看它们是否会影响市场。在本文中,我们决定重点关注藏格矿业的投资回报率。

Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.

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。换句话说,它揭示了公司成功地将股东投资转化为利润。

How To Calculate Return On Equity?

如何计算股本回报率?

Return on equity can be calculated by using the formula:

股本回报率可以使用以下公式计算:

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 Zangge Mining is:

因此,根据上述公式,藏格矿业的投资回报率为:

22% = CN¥3.0b ÷ CN¥14b (Based on the trailing twelve months to March 2024).

22% = 30亿元人民币 ÷ 140亿元人民币(基于截至2024年3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¥0.22 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,每拥有1元人民币的股东资本,公司的利润为0.22元人民币。

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 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.

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。假设其他条件都一样,与功能不相同的公司相比,具有更高股本回报率和更高利润保留率的公司通常具有更高的增长率。

Zangge Mining's Earnings Growth And 22% ROE

藏格矿业的收益增长和22%的投资回报率

To begin with, Zangge Mining seems to have a respectable ROE. On comparing with the average industry ROE of 6.3% the company's ROE looks pretty remarkable. Probably as a result of this, Zangge Mining was able to see an impressive net income growth of 51% over the last five years. We reckon that there could also be other factors at play here. For instance, the company has a low payout ratio or is being managed efficiently.

首先,Zangge Mining的投资回报率似乎相当可观。与6.3%的行业平均投资回报率相比,该公司的投资回报率看起来相当可观。可能是由于这个原因,藏格矿业在过去五年中实现了令人印象深刻的51%的净收入增长。我们认为,这里可能还有其他因素在起作用。例如,该公司的派息率较低或管理效率很高。

As a next step, we compared Zangge Mining's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 8.1%.

下一步,我们将藏格矿业的净收入增长与该行业进行了比较,令人高兴的是,我们发现该公司的增长高于行业平均增长8.1%。

past-earnings-growth
SZSE:000408 Past Earnings Growth May 21st 2024
SZSE: 000408 过去的收益增长 2024年5月21日

The 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. Is Zangge Mining fairly valued compared to other companies? These 3 valuation measures might help you decide.

为公司附加价值的基础在很大程度上与其收益增长息息相关。投资者接下来需要确定的是,预期的收益增长或缺乏收益是否已经包含在股价中。这样做将帮助他们确定股票的未来是乐观还是不祥的。与其他公司相比,赞格矿业的估值是否合理?这3种估值指标可能会帮助您做出决定。

Is Zangge Mining Using Its Retained Earnings Effectively?

Zangge Mining是否有效地使用了其留存收益?

The high three-year median payout ratio of 76% (implying that it keeps only 24% of profits) for Zangge Mining suggests that the company's growth wasn't really hampered despite it returning most of the earnings to its shareholders.

Zangge Mining的三年中位派息率高达76%(这意味着它仅保留了24%的利润),这表明尽管该公司将大部分收益返还给了股东,但其增长并没有真正受到阻碍。

Moreover, Zangge Mining is determined to keep sharing its profits with shareholders which we infer from its long history of seven years of paying a dividend.

此外,Zangge Mining决心继续与股东分享利润,这是我们从其七年支付股息的长期历史中推断出来的。

Conclusion

结论

On the whole, we feel that Zangge Mining's performance has been quite good. Especially the high ROE, Which has contributed to the impressive growth seen in earnings. Despite the company reinvesting only a small portion of its profits, it still has managed to grow its earnings so that is appreciable. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. 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.

总的来说,我们觉得藏格矿业的表现相当不错。尤其是高投资回报率,这为收益的惊人增长做出了贡献。尽管该公司仅将利润的一小部分再投资,但它仍然设法增加了收益,因此这是可观的。话虽如此,正如分析师目前的估计所预测的那样,该公司的收益增长预计将放缓。这些分析师的预期是基于对该行业的广泛预期,还是基于公司的基本面?点击此处进入我们分析师对公司的预测页面。

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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.

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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。

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