Is Incyte Corporation's (NASDAQ:INCY) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
Is Incyte Corporation's (NASDAQ:INCY) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
Incyte (NASDAQ:INCY) has had a great run on the share market with its stock up by a significant 21% over the last three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Particularly, we will be paying attention to Incyte's ROE today.
Incyte (纳斯达克:INCY)股价在过去的三个月中上涨了显著的21%，表现不俗。考虑到市场会长期奖励强大的财务状况，我们想知道这个案例是否如此。特别是，我们今天将关注Incyte的roe。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股本回报率或roe是评估公司管理层如何有效利用公司资本的关键指标。简而言之，ROE显示每美元股东投资所产生的利润。
How Do You Calculate Return On Equity?
怎样计算ROE?
The formula for ROE is:
roe的公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润（从持续经营中获得）÷ 股东权益
So, based on the above formula, the ROE for Incyte is:
因此，根据上述公式，Incyte的roe为:
14% = US$745m ÷ US$5.4b (Based on the trailing twelve months to March 2024).
14% = 7,4500万美元 ÷ 54亿美元 (基于最近12个月至2024年3月)。
The 'return' is the yearly profit. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.14 in profit.
'回报'是一年的利润。 这种概念化的方法是，对于每1美元的股东资本，公司创造了0.14美元的利润。
What Is The Relationship Between ROE And Earnings Growth?
既然我们已经确定ROE是一种有效的利润生成标准，用于评估公司未来的盈利能力，我们现在需要评估公司“保留”为未来增长而重新投资的利润多少，这使我们对公司的增长潜力有了一个了解。一般而言，在其他条件相等的情况下，ROE和利润留存高的公司，增长率比没有这些属性的公司要高。
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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 all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
我们已经确定ROE是衡量公司未来盈利能力的有效指标。基于公司选择再投资或“留存”利润的比例，我们可以评估公司未来生成利润的能力。其他条件相同的情况下，具有更高净资产收益率和更高利润留存率的公司通常比没有这些特点的公司增长率更高。
A Side By Side comparison of Incyte's Earnings Growth And 14% ROE
Incyte收益增长和14%的roe的并列比较
To begin with, Incyte seems to have a respectable ROE. Further, the company's ROE is similar to the industry average of 14%. This certainly adds some context to Incyte's exceptional 25% net income growth seen over the past five years. We reckon that there could also be other factors at play here. Such as - high earnings retention or an efficient management in place.
首先，Incyte似乎具有可观的roe。 此外，该公司的roe与行业平均水平相当，为14%。 这无疑为Incyte过去五年里出色的25%的净利润增长增加了一些背景。 我们认为这里还可能存在其他因素，例如高额利润保留或有效的管理。
As a next step, we compared Incyte's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 16%.
作为下一步，我们将Incyte的净收益增长与行业进行了比较，并令人高兴的是，我们发现公司的增长比16%的行业平均增长更高。
Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. Is Incyte fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增长是股票估值的一个重要因素。投资者需要确定的下一个是期望的收益增长，或者没有内含在股价中，这将有助于他们确定股票的未来看起来是有前途还是令人担忧。Incyte是否与其他企业公平比较价值？这3个估值方法可能会帮助您做出决策。
Is Incyte Making Efficient Use Of Its Profits?
Incyte是否有效利用其利润？
Incyte doesn't pay any regular dividends to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
Incyte没有向股东支付常规分红，这意味着公司一直将所有利润重新投资到业务中。这很可能是上面讨论的高收益增长数字所推动的。
Summary
总的来说，我们对伟明环保的表现非常满意。具体而言，我们喜欢公司以高回报率再投资了其利润的很大一部分。当然，这导致公司的收益大幅增长。但是，最新的行业分析师预测表明，该公司的收益预计将加速增长。
Overall, we are quite pleased with Incyte's performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
总的来说，我们对Incyte的表现感到满意。特别是，我们喜欢公司大力重投业务，并且有高的回报率。 不出所料，这已导致了令人印象深刻的收益增长。 但与此同时，最新的行业分析师预测显示，公司的收益增长预计将放缓。这些分析师的预期是基于行业的广泛预期，还是基于公司的基本面？ 点击这里进入我们的分析师预测页面。
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