Solid Earnings Reflect Sichuan Biokin PharmaceuticalLtd's (SHSE:688506) Strength As A Business
Solid Earnings Reflect Sichuan Biokin PharmaceuticalLtd's (SHSE:688506) Strength As A Business
Sichuan Biokin Pharmaceutical Co.,Ltd.'s (SHSE:688506) strong earnings report was rewarded with a positive stock price move. Our analysis found some more factors that we think are good for shareholders.
四川博康药业有限公司, Ltd. 's(上海证券交易所代码:688506)强劲的收益报告获得了股价的积极走势的回报。我们的分析发现了更多我们认为对股东有利的因素。
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Examining Cashflow Against Sichuan Biokin PharmaceuticalLtd's Earnings
根据四川博金制药有限公司的收益检查现金流
As finance nerds would already know, the accrual ratio from cashflow is a key measure for assessing how well a company's free cash flow (FCF) matches its profit. In plain english, this ratio subtracts FCF from net profit, and divides that number by the company's average operating assets over that period. You could think of the accrual ratio from cashflow as the 'non-FCF profit ratio'.
正如金融迷已经知道的那样,现金流的应计比率是评估公司自由现金流(FCF)与利润匹配程度的关键指标。简而言之,该比率从净利润中减去FCF,然后将该数字除以该时期公司的平均运营资产。你可以将现金流的应计比率视为 “非FCF利润率”。
Therefore, it's actually considered a good thing when a company has a negative accrual ratio, but a bad thing if its accrual ratio is positive. While it's not a problem to have a positive accrual ratio, indicating a certain level of non-cash profits, a high accrual ratio is arguably a bad thing, because it indicates paper profits are not matched by cash flow. That's because some academic studies have suggested that high accruals ratios tend to lead to lower profit or less profit growth.
因此,当公司的应计比率为负时,这实际上被认为是一件好事,但是如果应计比率为正,则被认为是一件坏事。尽管应计比率为正(表明非现金利润达到一定水平)不是问题,但高应计比率可以说是一件坏事,因为它表明纸质利润与现金流不匹配。那是因为一些学术研究表明,高应计比率往往会导致利润下降或利润增长放缓。
Over the twelve months to March 2024, Sichuan Biokin PharmaceuticalLtd recorded an accrual ratio of -1.71. That implies it has very good cash conversion, and that its earnings in the last year actually significantly understate its free cash flow. In fact, it had free cash flow of CN¥4.9b in the last year, which was a lot more than its statutory profit of CN¥4.39b. Notably, Sichuan Biokin PharmaceuticalLtd had negative free cash flow last year, so the CN¥4.9b it produced this year was a welcome improvement.
在截至2024年3月的十二个月中,四川博康制药有限公司的应计比率为-1.71。这意味着它的现金转化率非常好,而且其去年的收益实际上大大低估了其自由现金流。实际上,它去年的自由现金流为49亿元人民币,远远超过其43.9亿元人民币的法定利润。值得注意的是,四川博金制药有限公司去年的自由现金流为负,因此其今年的49亿元人民币是一个可喜的改善。
That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.
这可能会让你想知道分析师对未来盈利能力的预测。幸运的是,您可以单击此处查看根据他们的估计描绘未来盈利能力的交互式图表。
Our Take On Sichuan Biokin PharmaceuticalLtd's Profit Performance
我们对四川博康制药有限公司盈利表现的看法
Happily for shareholders, Sichuan Biokin PharmaceuticalLtd produced plenty of free cash flow to back up its statutory profit numbers. Based on this observation, we consider it possible that Sichuan Biokin PharmaceuticalLtd's statutory profit actually understates its earnings potential! And one can definitely find a positive in the fact that it made a profit this year, despite losing money last year. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. Every company has risks, and we've spotted 1 warning sign for Sichuan Biokin PharmaceuticalLtd you should know about.
令股东高兴的是,四川博康制药有限公司产生了充足的自由现金流来支持其法定利润数字。基于这一观察,我们认为四川博康制药有限公司的法定利润实际上可能低估了其盈利潜力!尽管去年亏损,但它今年还是实现了盈利,这一事实肯定可以找到积极的一面。归根结底,如果你想正确地了解公司,必须考虑的不仅仅是上述因素。有鉴于此,如果你想对公司进行更多分析,了解所涉及的风险至关重要。每家公司都有风险,我们发现了你应该知道的四川博康制药有限公司的一个警告信号。
Today we've zoomed in on a single data point to better understand the nature of Sichuan Biokin PharmaceuticalLtd's profit. But there is always more to discover if you are capable of focussing your mind on minutiae. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.
今天,我们放大了单一数据点,以更好地了解四川博康制药有限公司利润的性质。但是,如果你能够将注意力集中在细节上,总会有更多的事情需要发现。例如,许多人认为高股本回报率是有利的商业经济的标志,而另一些人则喜欢 “关注资金”,寻找内部人士正在买入的股票。因此,你可能希望看到这份免费收藏的拥有高股本回报率的公司,或者这份内部人士正在购买的股票清单。
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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。