<p>Afrimat (JSE:AFT) 本周表现不佳，股价下跌了 10%。市场似乎完全忽视了公司基本面的积极因素，更多地关注了负面因素。股票价格通常由公司的长期财务表现驱动，因此我们决定更加关注公司的财务表现。特别是，今天我们将关注 Afrimat 的股本回报率（ROE）。</p>
<p>股本回报率（ROE）是股东需要考虑的重要因素，因为它告诉他们资本再投资的有效性。简单来说，它用于评估公司相对于其股本的盈利能力。</p>
<p>我们发现有 21 只美国股票预计明年将支付超过 6% 的股息收益率。查看完整列表，免费获取。</p>
<h2>ROE 是如何计算的？</h2>
<p><strong>ROE 的公式是：</strong></p>
<p>股本回报率 = 净利润（来自持续经营）÷ 股东权益</p>
<p>因此，根据上述公式，Afrimat 的 ROE 为：</p>
<p>4.2% = R190m ÷ R4.5b（基于截至 2025 年 8 月的过去十二个月）。</p>
<p>“回报” 指的是公司过去一年的收益。这意味着每 ZAR1 的股东权益，公司产生了 ZAR0.04 的利润。</p>
<p>查看我们对 Afrimat 的最新分析</p>
<h2>ROE 与盈利增长有什么关系？</h2>
<p>我们已经确定 ROE 是公司未来盈利的有效利润生成指标。我们现在需要评估公司再投资或 “保留” 的利润多少，以便为未来的增长提供依据，这样可以让我们了解公司的增长潜力。一般来说，其他条件相同，具有高股本回报率和利润保留的公司，其增长率高于不具备这些特征的公司。</p>
<h2>Afrimat 的盈利增长与 4.2% 的 ROE</h2>
<p>如您所见，Afrimat 的 ROE 看起来相当疲弱。不仅如此，即使与行业平均水平 34% 相比，该公司的 ROE 也显得毫无特色。因此，考虑到其较低的 ROE，Afrimat 五年净收入下降 18% 并不令人惊讶。我们认为，可能还有其他因素对公司的盈利前景产生负面影响。例如，公司有非常高的派息比率，或者面临竞争压力。</p>
<p>因此，作为下一步，我们将 Afrimat 的表现与行业进行了比较，令人失望的是，尽管该公司的盈利在下降，但行业在过去几年中盈利增长率达到了 21%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/29618426-past-earnings-growth-1-dark-2/1768969384069?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/29618426-past-earnings-growth-1-dark-2/1768969384069"/></p>
<p>JSE:AFT 过去的盈利增长 2026 年 1 月 21 日</p>
<p>对公司的估值在很大程度上与其盈利增长相关。投资者应尝试确定预期的盈利增长或下降是否已被市场定价。通过这样做，他们将能够了解股票是否正朝着清澈的水域前进，还是面临泥泞的水域。AFT 是否被合理估值？关于公司内在价值的信息图包含了您需要了解的所有内容。</p>
<h2>Afrimat 是否有效利用其利润？</h2>
<p>尽管 Afrimat 的三年中位派息比率为 35%（保留 65% 的利润），但如上所述，Afrimat 的盈利却出现了下降。因此，可能还有其他解释。例如，公司的业务可能正在恶化。</p>
<p>此外，Afrimat 在至少十年的时间里支付了股息，这意味着公司的管理层决心支付股息，即使这意味着几乎没有盈利增长。在研究最新的分析师共识数据时，我们发现预计公司在未来三年内将继续支付约 34% 的利润。尽管如此，预计 Afrimat 的未来 ROE 将上升至 9.4%，尽管其派息比率预计不会有太大变化。</p>
<h2>结论</h2>
<p>总体而言，我们对 Afrimat 的表现有些矛盾。尽管公司有较高的再投资率，但低 ROE 意味着所有的再投资对投资者没有任何好处，而且对盈利增长产生了负面影响。话虽如此，考虑到当前分析师的估计，我们发现公司的盈利增长率预计将有显著改善。要了解更多关于公司未来盈利增长预测的信息，请查看这份关于公司分析师预测的 <strong>免费</strong> 报告。</p>

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<p>Afrimat Limited (JSE:AFT) 的股价下跌了 10%，反映出市场情绪的负面，尽管公司的一些基本面表现良好。该公司的股本回报率 (ROE) 为 4.2%，远低于行业平均水平的 34%，这导致其五年净收入下降了 18%。尽管 Afrimat 保留了高比例的利润用于再投资，但其低 ROE 引发了对未来盈利增长的担忧。分析师预测盈利增长将有所改善，未来 ROE 预计将上升至 9.4%</p>

<p>Afrimat (JSE:AFT) has had a rough week with its share price down 10%. It seems that the market might have completely ignored the positive aspects of the company's fundamentals and decided to weigh-in more on the negative aspects. Stock prices are usually driven by a company’s financial performance over the long term, and therefore we decided to pay more attention to the company's financial performance. Particularly, we will be paying attention to Afrimat's ROE today.</p>
<div class="lb-trans"><p>Afrimat (JSE:AFT) 本周表现不佳，股价下跌了 10%。市场似乎完全忽视了公司基本面的积极因素，更多地关注了负面因素。股票价格通常由公司的长期财务表现驱动，因此我们决定更加关注公司的财务表现。特别是，今天我们将关注 Afrimat 的股本回报率（ROE）。</p>
</div><p>Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Simply put, it is used to assess the profitability of a company in relation to its equity capital.</p>
<div class="lb-trans"><p>股本回报率（ROE）是股东需要考虑的重要因素，因为它告诉他们资本再投资的有效性。简单来说，它用于评估公司相对于其股本的盈利能力。</p>
</div><p>We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.</p>
<div class="lb-trans"><p>我们发现有 21 只美国股票预计明年将支付超过 6% 的股息收益率。查看完整列表，免费获取。</p>
</div><h2>How Is ROE Calculated?</h2>
<div class="lb-trans"><h2>ROE 是如何计算的？</h2>
</div><p>The <strong>formula for ROE</strong> is:</p>
<div class="lb-trans"><p><strong>ROE 的公式是：</strong></p>
</div><p>Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity</p>
<div class="lb-trans"><p>股本回报率 = 净利润（来自持续经营）÷ 股东权益</p>
</div><p>So, based on the above formula, the ROE for Afrimat is:</p>
<div class="lb-trans"><p>因此，根据上述公式，Afrimat 的 ROE 为：</p>
</div><p>4.2% = R190m ÷ R4.5b (Based on the trailing twelve months to August 2025).</p>
<div class="lb-trans"><p>4.2% = R190m ÷ R4.5b（基于截至 2025 年 8 月的过去十二个月）。</p>
</div><p>The 'return' refers to a company's earnings over the last year. That means that for every ZAR1 worth of shareholders' equity, the company generated ZAR0.04 in profit.</p>
<div class="lb-trans"><p>“回报” 指的是公司过去一年的收益。这意味着每 ZAR1 的股东权益，公司产生了 ZAR0.04 的利润。</p>
</div><p>Check out our latest analysis for Afrimat</p>
<div class="lb-trans"><p>查看我们对 Afrimat 的最新分析</p>
</div><h2>What Has ROE Got To Do With Earnings Growth?</h2>
<div class="lb-trans"><h2>ROE 与盈利增长有什么关系？</h2>
</div><p>We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or &#34;retains&#34; for future growth which then gives us an idea about the growth potential of the company. 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.</p>
<div class="lb-trans"><p>我们已经确定 ROE 是公司未来盈利的有效利润生成指标。我们现在需要评估公司再投资或 “保留” 的利润多少，以便为未来的增长提供依据，这样可以让我们了解公司的增长潜力。一般来说，其他条件相同，具有高股本回报率和利润保留的公司，其增长率高于不具备这些特征的公司。</p>
</div><h2>Afrimat's Earnings Growth And 4.2% ROE</h2>
<div class="lb-trans"><h2>Afrimat 的盈利增长与 4.2% 的 ROE</h2>
</div><p>As you can see, Afrimat's ROE looks pretty weak. Not just that, even compared to the industry average of 34%, the company's ROE is entirely unremarkable. For this reason, Afrimat's five year net income decline of 18% is not surprising given its lower ROE. We believe that there also might be other aspects that are negatively influencing the company's earnings prospects. For instance, the company has a very high payout ratio, or is faced with competitive pressures.</p>
<div class="lb-trans"><p>如您所见，Afrimat 的 ROE 看起来相当疲弱。不仅如此，即使与行业平均水平 34% 相比，该公司的 ROE 也显得毫无特色。因此，考虑到其较低的 ROE，Afrimat 五年净收入下降 18% 并不令人惊讶。我们认为，可能还有其他因素对公司的盈利前景产生负面影响。例如，公司有非常高的派息比率，或者面临竞争压力。</p>
</div><p>So, as a next step, we compared Afrimat's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 21% over the last few years.</p>
<div class="lb-trans"><p>因此，作为下一步，我们将 Afrimat 的表现与行业进行了比较，令人失望的是，尽管该公司的盈利在下降，但行业在过去几年中盈利增长率达到了 21%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/29618426-past-earnings-growth-1-dark-2/1768969384069" alt="" original-src="https://images.simplywall.st/asset/chart/29618426-past-earnings-growth-1-dark-2/1768969384069"/></p>
<p>JSE:AFT Past Earnings Growth January 21st 2026</p>
<div class="lb-trans"><p>JSE:AFT 过去的盈利增长 2026 年 1 月 21 日</p>
</div><p>The 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. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is AFT fairly valued? This infographic on the company's intrinsic value has everything you need to know.</p>
<div class="lb-trans"><p>对公司的估值在很大程度上与其盈利增长相关。投资者应尝试确定预期的盈利增长或下降是否已被市场定价。通过这样做，他们将能够了解股票是否正朝着清澈的水域前进，还是面临泥泞的水域。AFT 是否被合理估值？关于公司内在价值的信息图包含了您需要了解的所有内容。</p>
</div><h2>Is Afrimat Making Efficient Use Of Its Profits?</h2>
<div class="lb-trans"><h2>Afrimat 是否有效利用其利润？</h2>
</div><p>Despite having a normal three-year median payout ratio of 35% (where it is retaining 65% of its profits), Afrimat has seen a decline in earnings as we saw above. So there could be some other explanations in that regard. For instance, the company's business may be deteriorating.</p>
<div class="lb-trans"><p>尽管 Afrimat 的三年中位派息比率为 35%（保留 65% 的利润），但如上所述，Afrimat 的盈利却出现了下降。因此，可能还有其他解释。例如，公司的业务可能正在恶化。</p>
</div><p>Additionally, Afrimat has paid dividends over a period of at least ten years, which means that the company's management is determined to pay dividends even if it means little to no earnings growth. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 34% of its profits over the next three years. Regardless, the future ROE for Afrimat is predicted to rise to 9.4% despite there being not much change expected in its payout ratio.</p>
<div class="lb-trans"><p>此外，Afrimat 在至少十年的时间里支付了股息，这意味着公司的管理层决心支付股息，即使这意味着几乎没有盈利增长。在研究最新的分析师共识数据时，我们发现预计公司在未来三年内将继续支付约 34% 的利润。尽管如此，预计 Afrimat 的未来 ROE 将上升至 9.4%，尽管其派息比率预计不会有太大变化。</p>
</div><h2>Conclusion</h2>
<div class="lb-trans"><h2>结论</h2>
</div><p>In total, we're a bit ambivalent about Afrimat's performance. While the company does have a high rate of reinvestment, the low ROE means that all that reinvestment is not reaping any benefit to its investors, and moreover, its having a negative impact on the earnings growth. Having said that, looking at current analyst estimates, we found that the company's earnings growth rate is expected to see a huge improvement. To know more about the company's future earnings growth forecasts take a look at this <strong>free</strong> report on analyst forecasts for the company to find out more.</p>
<div class="lb-trans"><p>总体而言，我们对 Afrimat 的表现有些矛盾。尽管公司有较高的再投资率，但低 ROE 意味着所有的再投资对投资者没有任何好处，而且对盈利增长产生了负面影响。话虽如此，考虑到当前分析师的估计，我们发现公司的盈利增长率预计将有显著改善。要了解更多关于公司未来盈利增长预测的信息，请查看这份关于公司分析师预测的 <strong>免费</strong> 报告。</p>
</div>

Is The Market Rewarding Afrimat Limited (JSE:AFT) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?

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市场是否因 Afrimat Limited（JSE:AFT）基本面表现不佳而对其持负面态度？