Nanjing Hicin Pharmaceutical Co., Ltd.'s (SZSE:300584) Stock Is Rallying But Financials Look Ambiguous: Will The Momentum Continue?
Nanjing Hicin Pharmaceutical Co., Ltd.'s (SZSE:300584) Stock Is Rallying But Financials Look Ambiguous: Will The Momentum Continue?
Most readers would already be aware that Nanjing Hicin Pharmaceutical's (SZSE:300584) stock increased significantly by 54% over the past month. However, we wonder if the company's inconsistent financials would have any adverse impact on the current share price momentum. Specifically, we decided to study Nanjing Hicin Pharmaceutical's ROE in this article.
大多數讀者可能已經知道海辰藥業(SZSE:300584)的股票在過去一個月內大幅增長了54%。然而,我們想知道公司不一致的財務情況是否會對當前股價動能產生任何不利影響。具體而言,我們決定在本文中研究海辰藥業的roe。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
roe指股東權益回報率,是一種有用的工具,用於評估公司如何有效地從股東獲得的投資中產生回報。簡單來說,這衡量了一家公司相對於股東權益的盈利能力。
How Do You Calculate Return On Equity?
怎樣計算ROE?
The formula for return on equity is:
權益回報率的計算公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤(從持續經營中獲得)÷ 股東權益
So, based on the above formula, the ROE for Nanjing Hicin Pharmaceutical is:
那麼,根據上述公式,海辰藥業的roe爲:
3.7% = CN¥37m ÷ CN¥1.0b (Based on the trailing twelve months to March 2024).
3.7%= CN¥3700萬 ÷ CN¥10億(基於截至2024年3月的過去十二個月)。
The 'return' refers to a company's earnings over the last year. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.04 in profit.
「回報」是指公司在過去一年中的盈利情況。這意味着,對於每1元股東權益,公司創造了0.04元盈利。
What Has ROE Got To Do With Earnings Growth?
roe與盈利增長有何關係?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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.
我們已經確定ROE作爲評估公司未來收益的有效指標。現在我們需要評估公司爲未來增長所保留的利潤量,從而給我們一個關於公司增長潛力的想法。假設其他條件都相同,既具有較高ROE又具有較高利潤保留的公司通常是增長率更高的公司,相比之下沒有這些特點的公司會更低。
A Side By Side comparison of Nanjing Hicin Pharmaceutical's Earnings Growth And 3.7% ROE
海辰藥業收益增長和3.7%ROE的側面比較
It is quite clear that Nanjing Hicin Pharmaceutical's ROE is rather low. Even when compared to the industry average of 7.5%, the ROE figure is pretty disappointing. As a result, Nanjing Hicin Pharmaceutical's flat earnings over the past five years doesn't come as a surprise given its lower ROE.
很明顯,海辰藥業的roe相當低。即使與行業平均水平的7.5%相比,roe的數字也相當令人失望。結果,鑑於其較低的roe,海辰藥業過去五年的平穩收益並不令人驚訝。
Next, on comparing with the industry net income growth, we found that the industry grew its earnings by 9.4% over the last few years.
接下來,與行業淨收入增長比較,我們發現行業在過去幾年中的收益增長率爲9.4%。
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Earnings growth is a huge factor in stock valuation. 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. If you're wondering about Nanjing Hicin Pharmaceutical's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
收益增長是股票估值的重要因素。投資者知道市場是否已經定價了公司預期的收益增長(或下降)非常重要。這將有助於他們確定股票的未來前景是否看好或不利。如果您想了解海辰藥業的估值,請查看其市盈率的這個度量標準,與其行業相比。
Is Nanjing Hicin Pharmaceutical Making Efficient Use Of Its Profits?
海辰藥業是否有效利用其利潤?
Nanjing Hicin Pharmaceutical's low three-year median payout ratio of 16%, (meaning the company retains84% of profits) should mean that the company is retaining most of its earnings and consequently, should see higher growth than it has reported.
海辰藥業低三年中位數股息支付比率爲16%(意味着公司保留了84%的利潤),這應意味着公司保留了大部分收益,因此應該看到比其報道的更高的增長。
Moreover, Nanjing Hicin Pharmaceutical has been paying dividends for seven years, which is a considerable amount of time, suggesting that management must have perceived that the shareholders prefer dividends over earnings growth.
此外,海辰藥業已經支付分紅派息七年,這是相當長的時間,表明管理層必須認爲股東更喜歡分紅而不是盈利增長。
Conclusion
結論
In total, we're a bit ambivalent about Nanjing Hicin Pharmaceutical'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. Until now, we have only just grazed the surface of the company's past performance by looking at the company's fundamentals. You can do your own research on Nanjing Hicin Pharmaceutical and see how it has performed in the past by looking at this FREE detailed graph of past earnings, revenue and cash flows.
總的來說,我們對海辰藥業的表現有些矛盾。雖然該公司具有較高的再投資率,但低roe意味着所有的再投資都沒有給投資者帶來任何好處,並且對收益增長產生了負面影響。到目前爲止,我們只看了看公司的基本面,還可以通過查看過去收益,營業收入和現金流的免費詳細圖表來研究自己對海辰藥業的過去表現。
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。