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Is Weakness In Sinopharm Group Co. Ltd. (HKG:1099) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?

Is Weakness In Sinopharm Group Co. Ltd. (HKG:1099) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?

国药集团是弱点吗Ltd. (HKG: 1099) 股票鉴于其强劲的财务前景,市场可能出错了吗?
Simply Wall St ·  2023/10/18 01:10

Sinopharm Group (HKG:1099) has had a rough three months with its share price down 4.1%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. In this article, we decided to focus on Sinopharm Group's ROE.

国药集团(HKG: 1099)经历了艰难的三个月,其股价下跌了4.1%。但是,如果你密切关注,你可能会发现,鉴于市场通常会奖励财务状况良好的公司,其强劲的财务状况可能意味着该股的长期价值可能会增加。在本文中,我们决定重点关注国药集团的投资回报率。

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. 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股东需要考虑的重要因素,因为它可以告诉他们资本再投资的有效性。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。

See our latest analysis for Sinopharm Group

查看我们对国药集团的最新分析

How To Calculate Return On Equity?

如何计算股本回报率?

The formula for ROE is:

这个 投资回报率的公式 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 Sinopharm Group is:

因此,根据上述公式,国药集团的投资回报率为:

13% = CN¥15b ÷ CN¥113b (Based on the trailing twelve months to June 2023).

13% = 150亿元人民币 ^1130亿元人民币(基于截至2023年6月的过去十二个月)。

The 'return' refers to a company's earnings over the last year. That means that for every HK$1 worth of shareholders' equity, the company generated HK$0.13 in profit.

“回报” 是指公司去年的收益。这意味着,每价值1港元的股东权益,公司就会产生0.13港元的利润。

What Has ROE Got To Do With Earnings Growth?

投资回报率与收益增长有什么关系?

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. 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,投资回报率是衡量公司盈利能力的指标。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。

A Side By Side comparison of Sinopharm Group's Earnings Growth And 13% ROE

国药集团收益增长和13%投资回报率的并排比较

To start with, Sinopharm Group's ROE looks acceptable. Especially when compared to the industry average of 9.6% the company's ROE looks pretty impressive. Probably as a result of this, Sinopharm Group was able to see a decent growth of 9.7% over the last five years.

首先,国药集团的投资回报率看起来可以接受。尤其是与9.6%的行业平均水平相比,该公司的投资回报率看起来相当令人印象深刻。可能正因为如此,国药集团在过去五年中实现了9.7%的可观增长。

As a next step, we compared Sinopharm Group's net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 13% in the same period.

下一步,我们将国药集团的净收入增长与该行业进行了比较,但失望地看到该公司的增长低于同期13%的行业平均增长。

past-earnings-growth
SEHK:1099 Past Earnings Growth October 18th 2023
香港联交所:1099 过去的收益增长 2023 年 10 月 18 日

Earnings growth is an important metric to consider when valuing a stock. 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. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Sinopharm Group is trading on a high P/E or a low P/E, relative to its industry.

收益增长是估值股票时要考虑的重要指标。对于投资者来说,重要的是要知道市场是否对公司的预期收益增长(或下降)进行了定价。这样做将帮助他们确定该股的未来是充满希望还是不祥。预期收益增长的一个很好的指标是市盈率,它根据股票的收益前景决定了市场愿意为股票支付的价格。因此,您可能需要检查国药集团相对于其行业的市盈率是高还是低市盈率。

Is Sinopharm Group Efficiently Re-investing Its Profits?

国药集团是否有效地将其利润再投资?

With a three-year median payout ratio of 29% (implying that the company retains 71% of its profits), it seems that Sinopharm Group is reinvesting efficiently in a way that it sees respectable amount growth in its earnings and pays a dividend that's well covered.

国药集团的三年中位派息率为29%(这意味着该公司保留了71%的利润),看来国药集团正在有效地进行再投资,其收益增长幅度可观,并支付的股息覆盖良好。

Besides, Sinopharm Group has been paying dividends for at least ten years or more. This shows that the company is committed to sharing profits with its shareholders. Our latest analyst data shows that the future payout ratio of the company over the next three years is expected to be approximately 29%. Accordingly, forecasts suggest that Sinopharm Group's future ROE will be 11% which is again, similar to the current ROE.

此外,国药集团支付股息已有至少十年或更长时间。这表明该公司致力于与股东分享利润。我们最新的分析师数据显示,该公司未来三年的派息率预计约为29%。因此,预测表明,国药集团未来的投资回报率将为11%,再次与目前的投资回报率相似。

Conclusion

结论

Overall, we are quite pleased with Sinopharm Group's performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. As a result, the decent growth in its earnings is not surprising. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.

总体而言,我们对国药集团的表现非常满意。特别是,我们喜欢该公司对其业务进行大量再投资,而且回报率很高。因此,其收益的良好增长也就不足为奇了。话虽如此,最新的行业分析师预测显示,该公司的收益增长预计将放缓。要了解有关该公司未来收益增长预测的更多信息,请看这个 免费的 报告分析师对公司的预测,以了解更多信息。

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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,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面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公司公告或定性材料。简而言之,华尔街在上述任何股票中都没有头寸。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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