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?
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.
國藥控股(HKG:1099)經歷了艱難的三個月,股價下跌了4.1%。但如果你仔細觀察,你可能會猜到,它強勁的財務狀況可能意味著,考慮到市場通常會獎勵財務狀況良好的公司,該股可能會在長期內增值。在本文中,我們決定將重點放在國藥控股的淨資產收益率上。
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.
股本回報率或淨資產收益率是股東要考慮的一個重要因素,因為它告訴他們他們的資本再投資的效率。簡而言之,淨資產收益率顯示了每一美元相對於其股東投資產生的利潤。
See our latest analysis for Sinopharm Group
參見我們對國藥控股的最新分析
How To Calculate Return On Equity?
如何計算股本回報率?
The formula for ROE is:
這個淨資產收益率公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率=(持續經營的)淨利潤?股東權益
So, based on the above formula, the ROE for Sinopharm Group is:
因此,根據上述公式,國藥控股的淨資產收益率為:
13% = CN¥15b ÷ CN¥113b (Based on the trailing twelve months to June 2023).
13%=CN元150B×CN元113B(以截至2023年6月的12個月為基礎)。
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.
“回報”指的是一家公司過去一年的收益。這意味著,每1港元的股東權益,該公司就會產生0.13港元的利潤。
What Has ROE Got To Do With Earnings Growth?
淨資產收益率與盈利增長有什麼關係?
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.
到目前為止,我們瞭解到淨資產收益率是衡量一家公司盈利能力的指標。根據公司選擇再投資或“保留”多少利潤,我們就能夠評估一家公司未來產生利潤的能力。假設其他條件不變,淨資產收益率和利潤保留率越高,與不一定具有這些特徵的公司相比,公司的增長率就越高。
A Side By Side comparison of Sinopharm Group's Earnings Growth And 13% ROE
國藥控股盈利增長與13%淨資產收益率的並列比較
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,國藥控股的淨資產收益率看起來可以接受。特別是與9.6%的行業平均水準相比,該公司的淨資產收益率看起來相當令人印象深刻。或許正因為如此,國藥控股才能在過去五年中體面地實現9.7%的增長。
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.
作為下一步,我們將國藥控股的淨收入增長與行業進行了比較,失望地看到公司的增長低於同期13%的行業平均增長。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231018/0-bf007c8f42509f8ddb631e8e293ab759-0-eeab6dc8e0fd2cf5ac7d003b31cf746f.png/big)
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.
盈利增長是評估一隻股票時需要考慮的一個重要指標。對於投資者來說,重要的是知道市場是否已經消化了公司預期的收益增長(或下降)。這樣做將有助於他們確定該股的未來看起來是光明的還是不祥的。衡量預期收益增長的一個很好的指標是本益比,它根據一隻股票的盈利前景決定市場願意為其支付的價格。因此,你可能想看看國藥控股相對於其行業是高本益比還是低本益比。
Is Sinopharm Group Efficiently Re-investing Its Profits?
國藥控股是否有效地將其利潤進行了再投資?
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.
國藥控股的三年中值派息率為29%(這意味著該公司保留了71%的利潤),看起來他的再投資很有效率,因為它看到了可觀的收益增長,並支付了豐厚的股息。
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,國藥控股已經分紅至少十年甚至更長時間。這表明該公司致力於與股東分享利潤。我們最新的分析師數據顯示,該公司未來三年的派息率預計約為29%。相應地,預測顯示國藥控股未來的淨資產收益率將為11%,與目前的淨資產收益率相似。
Conclusion
結論
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.
總體而言,我們對國藥控股的表現相當滿意。特別是,我們喜歡該公司對其業務進行大量再投資,並以高回報率進行投資。因此,其收益的可觀增長並不令人意外。話雖如此,最新的行業分析師預測顯示,該公司的收益增長預計將放緩。要了解更多有關該公司未來收益增長預測的資訊,請查看以下內容免費報告分析師對該公司的預測,以瞭解更多資訊.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫.或者,也可以給編輯組發電子郵件,地址是暗示Wallst.com。
本文由Simply Wall St.撰寫,具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.