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2961

Ruida Futures SZSE:002961 Stock Report

Last Price

CN¥17.04

Market Cap

CN¥7.6b

7D

2.7%

1Y

-15.1%

Updated

14 Aug, 2022

Data

Company Financials +
2961 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth6/6
Past Performance5/6
Financial Health3/6
Dividends3/6

2961 Stock Overview

Ruida Futures Co., Ltd. operates as a futures company in China.

Ruida Futures Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Ruida Futures
Historical stock prices
Current Share PriceCN¥17.04
52 Week HighCN¥30.10
52 Week LowCN¥15.23
Beta0.43
1 Month Change5.19%
3 Month Change6.70%
1 Year Change-15.06%
3 Year Changen/a
5 Year Changen/a
Change since IPO112.47%

Recent News & Updates

Shareholder Returns

2961CN Capital MarketsCN Market
7D2.7%4.2%1.6%
1Y-15.1%-14.5%-10.1%

Return vs Industry: 002961 matched the CN Capital Markets industry which returned -14.5% over the past year.

Return vs Market: 002961 underperformed the CN Market which returned -10.1% over the past year.

Price Volatility

Is 2961's price volatile compared to industry and market?
2961 volatility
2961 Average Weekly Movement4.7%
Capital Markets Industry Average Movement4.6%
Market Average Movement6.0%
10% most volatile stocks in CN Market9.1%
10% least volatile stocks in CN Market3.9%

Stable Share Price: 002961 is less volatile than 75% of CN stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 002961's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1993656Chang Gehttps://www.rdqh.com

Ruida Futures Co., Ltd. operates as a futures company in China. The company offers stock index and commodity futures, options, crude oil futures, and brokerage services; and investment advisory, risk management, and asset management services. It also operates a futures college; and provides real estate development services.

Ruida Futures Fundamentals Summary

How do Ruida Futures's earnings and revenue compare to its market cap?
2961 fundamental statistics
Market CapCN¥7.58b
Earnings (TTM)CN¥511.11m
Revenue (TTM)CN¥2.09b

14.8x

P/E Ratio

3.6x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2961 income statement (TTM)
RevenueCN¥2.09b
Cost of RevenueCN¥471.57m
Gross ProfitCN¥1.62b
Other ExpensesCN¥1.11b
EarningsCN¥511.11m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.15
Gross Margin77.46%
Net Profit Margin24.43%
Debt/Equity Ratio39.0%

How did 2961 perform over the long term?

See historical performance and comparison

Dividends

1.9%

Current Dividend Yield

29%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 2961 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2961?

Other financial metrics that can be useful for relative valuation.

2961 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio0.4x

Price to Earnings Ratio vs Peers

How does 2961's PE Ratio compare to its peers?

2961 PE Ratio vs Peers
The above table shows the PE ratio for 2961 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average21.9x
603093 Nanhua Futures
27.1xn/aCN¥6.4b
600621 Shanghai Chinafortune
27.5xn/aCN¥13.6b
600155 Polaris Bay GroupLtd
16.5xn/aCN¥14.2b
000686 Northeast Securities
16.3xn/aCN¥16.7b
002961 Ruida Futures
14.8x36.5%CN¥7.6b

Price-To-Earnings vs Peers: 002961 is good value based on its Price-To-Earnings Ratio (14.8x) compared to the peer average (21.9x).


Price to Earnings Ratio vs Industry

How does 2961's PE Ratio compare vs other companies in the CN Capital Markets Industry?

Price-To-Earnings vs Industry: 002961 is good value based on its Price-To-Earnings Ratio (14.8x) compared to the CN Capital Markets industry average (19.7x)


Price to Earnings Ratio vs Fair Ratio

What is 2961's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2961 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.8x
Fair PE Ratio22.4x

Price-To-Earnings vs Fair Ratio: 002961 is good value based on its Price-To-Earnings Ratio (14.8x) compared to the estimated Fair Price-To-Earnings Ratio (22.4x).


Share Price vs Fair Value

What is the Fair Price of 2961 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 002961 (CN¥17.04) is trading above our estimate of fair value (CN¥7.02)

Significantly Below Fair Value: 002961 is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Ruida Futures forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

6/6

Future Growth Score 6/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


36.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 002961's forecast earnings growth (36.5% per year) is above the savings rate (3.2%).

Earnings vs Market: 002961's earnings (36.5% per year) are forecast to grow faster than the CN market (24.5% per year).

High Growth Earnings: 002961's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 002961's revenue (29.1% per year) is forecast to grow faster than the CN market (17.7% per year).

High Growth Revenue: 002961's revenue (29.1% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 002961's Return on Equity is forecast to be high in 3 years time (29.3%)


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Past Performance

How has Ruida Futures performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


41.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 002961 has a high level of non-cash earnings.

Growing Profit Margin: 002961's current net profit margins (24.4%) are higher than last year (19.9%).


Past Earnings Growth Analysis

Earnings Trend: 002961's earnings have grown significantly by 41.6% per year over the past 5 years.

Accelerating Growth: 002961's earnings growth over the past year (61.7%) exceeds its 5-year average (41.6% per year).

Earnings vs Industry: 002961 earnings growth over the past year (61.7%) exceeded the Capital Markets industry 5.7%.


Return on Equity

High ROE: 002961's Return on Equity (20.4%) is considered high.


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Financial Health

How is Ruida Futures's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 002961's short term assets (CN¥16.6B) exceed its short term liabilities (CN¥13.7B).

Long Term Liabilities: 002961's short term assets (CN¥16.6B) exceed its long term liabilities (CN¥1.4B).


Debt to Equity History and Analysis

Debt Level: 002961 has more cash than its total debt.

Reducing Debt: 002961's debt to equity ratio has increased from 11.6% to 39% over the past 5 years.

Debt Coverage: 002961's debt is not well covered by operating cash flow (6.4%).

Interest Coverage: Insufficient data to determine if 002961's interest payments on its debt are well covered by EBIT.


Balance Sheet


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Dividend

What is Ruida Futures's current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


1.94%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 002961's dividend (1.94%) is higher than the bottom 25% of dividend payers in the CN market (0.45%).

High Dividend: 002961's dividend (1.94%) is in the top 25% of dividend payers in the CN market (1.87%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, 002961 has been paying a dividend for less than 10 years.

Growing Dividend: 002961's dividend payments have increased, but the company has only paid a dividend for 2 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (29%), 002961's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: 002961 is paying a dividend but the company has no free cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

1.6yrs

Average board tenure


CEO

Chang Ge (54 yo)

9.75yrs

Tenure

CN¥1,638,500

Compensation

Mr. Chang Ge is General Manager & Director of Ruida Futures Co., Ltd. from November 2012.


Board Members

Experienced Board: 002961's board of directors are not considered experienced ( 1.6 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Ruida Futures Co., Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Ruida Futures Co., Ltd.
  • Ticker: 2961
  • Exchange: SZSE
  • Founded: 1993
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Implied Market Cap: CN¥7.583b
  • Shares outstanding: 445.03m
  • Website: https://www.rdqh.com

Number of Employees


Location

  • Ruida Futures Co., Ltd.
  • No.169, Tapu East Road
  • 13th Floor
  • Xiamen
  • Fujian Province
  • 361008
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/14 00:00
End of Day Share Price2022/08/12 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.