Wanbangde Pharmaceutical Holding Group Co., Ltd.'s (SZSE:002082) Stock Is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?
Wanbangde Pharmaceutical Holding Group Co., Ltd.'s (SZSE:002082) Stock Is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?
Most readers would already be aware that Wanbangde Pharmaceutical Holding Group's (SZSE:002082) stock increased significantly by 15% over the past week. However, we decided to pay attention to the company's fundamentals which don't appear to give a clear sign about the company's financial health. Specifically, we decided to study Wanbangde Pharmaceutical Holding Group's ROE in this article.
大多数读者已经意识到,万邦德药业控股集团(SZSE:002082)的股票在过去一周大幅上涨了15%。但是,我们决定关注公司的基本面,这些基本面似乎并未给公司的财务状况提供明确的信号。具体而言,我们决定在本文中研究万邦德药业控股集团的投资回报率。
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 simpler terms, it measures the profitability of a company in relation to shareholder's equity.
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,它衡量公司相对于股东权益的盈利能力。
How Do You Calculate Return On Equity?
你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 Wanbangde Pharmaceutical Holding Group is:
因此,根据上述公式,万邦德药业控股集团的投资回报率为:
1.0% = CN¥26m ÷ CN¥2.8b (Based on the trailing twelve months to December 2023).
1.0% = 2600万元人民币 ÷ 28亿元人民币(基于截至2023年12月的过去十二个月)。
The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.01 in profit.
“回报” 是过去十二个月的利润。对此进行概念化的一种方法是,该公司每拥有1元人民币的股本即可获得0.01元人民币的利润。
What Has ROE Got To Do With Earnings Growth?
投资回报率与收益增长有什么关系?
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. 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.
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。一般而言,在其他条件相同的情况下,股本回报率和利润留存率高的公司的增长率要高于不具有这些属性的公司。
Wanbangde Pharmaceutical Holding Group's Earnings Growth And 1.0% ROE
万邦德药业控股集团的收益增长和1.0%的投资回报率
It is hard to argue that Wanbangde Pharmaceutical Holding Group's ROE is much good in and of itself. Not just that, even compared to the industry average of 7.8%, the company's ROE is entirely unremarkable. For this reason, Wanbangde Pharmaceutical Holding Group's five year net income decline of 23% is not surprising given its lower ROE. We reckon that there could also be other factors at play here. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.
很难说万邦德药业控股集团的投资回报率本身就非常好。不仅如此,即使与7.8%的行业平均水平相比,该公司的投资回报率也完全不引人注目。出于这个原因,鉴于其投资回报率较低,万邦德药业控股集团五年净收入下降了23%,这并不奇怪。我们认为,这里可能还有其他因素在起作用。例如,该企业的资本分配不佳,或者该公司的派息率非常高。
However, when we compared Wanbangde Pharmaceutical Holding Group's growth with the industry we found that while the company's earnings have been shrinking, the industry has seen an earnings growth of 9.7% in the same period. This is quite worrisome.
但是,当我们将万邦德药业控股集团的增长与该行业的增长进行比较时,我们发现,尽管该公司的收益一直在萎缩,但该行业同期的收益增长了9.7%。这非常令人担忧。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240430/0-2f6bf73052877e92739838498da810ba-0-38992223221f894172e0a2674954bf59.png/big)
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Wanbangde Pharmaceutical Holding Group 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。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。通过这样做,他们将知道股票是走向清澈的蓝色海水还是沼泽水域在等着呢。与其他公司相比,万邦德药业控股集团的估值是否合理?这3种估值指标可能会帮助您做出决定。
Is Wanbangde Pharmaceutical Holding Group Making Efficient Use Of Its Profits?
万邦德药业控股集团是否在有效利用其利润?
Despite having a normal three-year median payout ratio of 45% (where it is retaining 55% of its profits), Wanbangde Pharmaceutical Holding Group 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.
尽管正常的三年派息率中位数为45%(保留了55%的利润),但如上所示,万邦德药业控股集团的收益却有所下降。因此,在这方面可能还有其他解释。例如,该公司的业务可能正在恶化。
Moreover, Wanbangde Pharmaceutical Holding Group has been paying dividends for at least ten years or more suggesting that management must have perceived that the shareholders prefer dividends over earnings growth.
此外,万邦德制药控股集团派发股息已有至少十年或更长时间,这表明管理层一定已经意识到股东更喜欢分红而不是收益增长。
Conclusion
结论
In total, we're a bit ambivalent about Wanbangde Pharmaceutical Holding Group'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. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. Our risks dashboard would have the 4 risks we have identified for Wanbangde Pharmaceutical Holding Group.
总的来说,我们对万邦德药业控股集团的表现有些矛盾。尽管该公司的再投资率确实很高,但低投资回报率意味着所有这些再投资都没有给投资者带来任何好处,而且还对收益增长产生了负面影响。总而言之,我们将谨慎对待这家公司,其中一种方法是研究该业务的风险状况。我们的风险仪表板将包含我们为万邦德药业控股集团确定的4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。