Guiyang Xintian Pharmaceutical Co.,Ltd.'s (SZSE:002873) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
Guiyang Xintian Pharmaceutical Co.,Ltd.'s (SZSE:002873) Stock Has Been Sliding But Fundamentals Look Strong: Is The Market Wrong?
It is hard to get excited after looking at Guiyang Xintian PharmaceuticalLtd's (SZSE:002873) recent performance, when its stock has declined 22% over the past three months. 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 Guiyang Xintian PharmaceuticalLtd's ROE.
看到贵阳新天医药股份有限公司(SZSE：002873)最近的表现，很难感到兴奋，其股票在过去三个月里下跌了22%。但如果你仔细观察，你可能会猜到，它强劲的财务状况可能意味着，考虑到市场通常会奖励财务状况良好的公司，该股可能会在长期内增值。在本文中，我们决定将重点放在贵阳新天制药有限公司的净资产收益率上。
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(ROE)是用来评估公司管理层利用公司资本效率的关键指标。简而言之，净资产收益率显示了每一美元相对于其股东投资产生的利润。
Check out our latest analysis for Guiyang Xintian PharmaceuticalLtd
查看我们对贵阳新天药业有限公司的最新分析
How Is ROE Calculated?
净资产收益率是如何计算的？
The formula for ROE is:
这个净资产收益率公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润？股东权益
So, based on the above formula, the ROE for Guiyang Xintian PharmaceuticalLtd is:
因此，根据上述公式，贵阳新天药业有限公司的净资产收益率为：
11% = CN¥106m ÷ CN¥944m (Based on the trailing twelve months to March 2022).
11%=1.06亿元×9.44亿元(以截至2022年3月的12个月为基础)。
The 'return' is the income the business earned over the last year. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.11 in profit.
“回报”指的是企业在过去一年中获得的收入。另一种说法是，公司每持有价值1元的股权，就能赚取0.11元的利润。
Why Is ROE Important For Earnings Growth?
为什么净资产收益率对收益增长很重要？
So far, we've learned that ROE is a measure of a company's profitability. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. 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，我们了解到净资产收益率是衡量一家公司盈利能力的指标。根据公司将这些利润再投资或“保留”多少，以及这样做的效率如何，我们就能够评估一家公司的收益增长潜力。一般来说，在其他条件相同的情况下，股本回报率和利润留存较高的公司比不具备这些特征的公司有更高的增长率。
Guiyang Xintian PharmaceuticalLtd's Earnings Growth And 11% ROE
贵阳新天药业盈利增长11%净资产收益率
At first glance, Guiyang Xintian PharmaceuticalLtd's ROE doesn't look very promising. Although a closer study shows that the company's ROE is higher than the industry average of 8.1% which we definitely can't overlook. Consequently, this likely laid the ground for the decent growth of 9.7% seen over the past five years by Guiyang Xintian PharmaceuticalLtd. Bear in mind, the company does have a moderately low ROE. It is just that the industry ROE is lower. So there might well be other reasons for the earnings to grow. For example, it is possible that the broader industry is going through a high growth phase, or that the company has a low payout ratio.
乍一看，贵阳鑫天药业的净资产收益率看起来并不是很有希望。尽管更仔细的研究表明，该公司的净资产收益率高于8.1%的行业平均水平，但我们绝对不能忽视这一点。因此，这可能为贵阳新天制药有限公司在过去五年中实现9.7%的体面增长奠定了基础。请记住，该公司的净资产收益率(ROE)确实较低。只是行业的净资产收益率较低。因此，盈利增长很可能还有其他原因。例如，更广泛的行业可能正在经历高增长阶段，或者公司的派息率较低。
Next, on comparing Guiyang Xintian PharmaceuticalLtd's net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 9.0% in the same period.
接下来，将贵阳新天制药有限公司的净收入增长与行业进行比较，我们发现，该公司的报告增长与同期9.0%的行业平均增长率相似。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. This then helps them determine if the stock is placed for a bright or bleak future. If you're wondering about Guiyang Xintian PharmaceuticalLtd's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
赋予一家公司价值的基础在很大程度上与其盈利增长挂钩。投资者应该尝试确定预期的收益增长或下降是否已计入价格，无论是哪种情况。这有助于他们确定这只股票是为光明还是黯淡的未来做准备。如果你想知道贵阳新天医药有限公司的估值，看看这个市盈率指标，它与其行业相比。
Is Guiyang Xintian PharmaceuticalLtd Making Efficient Use Of Its Profits?
贵阳新天药业是否在高效利用利润？
Guiyang Xintian PharmaceuticalLtd has a low three-year median payout ratio of 16%, meaning that the company retains the remaining 84% of its profits. This suggests that the management is reinvesting most of the profits to grow the business.
贵阳新天医药有限公司的三年派息率中值较低，为16%，这意味着该公司保留了剩余84%的利润。这表明管理层正在将大部分利润进行再投资，以实现业务增长。
Besides, Guiyang Xintian PharmaceuticalLtd has been paying dividends over a period of four years. This shows that the company is committed to sharing profits with its shareholders.
此外，贵阳新天制药有限公司在四年的时间里一直在分红。这表明该公司致力于与股东分享利润。
Conclusion
结论
On the whole, we feel that Guiyang Xintian PharmaceuticalLtd's performance has been quite good. Particularly, we like that the company is reinvesting heavily into its business at a moderate 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 are expected to accelerate. 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.
总体来说，我们觉得贵阳新天药业的业绩是相当不错的。特别是，我们喜欢该公司以适度的回报率对其业务进行大量再投资。不出所料，这导致了令人印象深刻的收益增长。尽管如此，最新的行业分析师预测显示，该公司的收益预计将加速增长。要了解更多有关该公司未来收益增长预测的信息，请查看以下内容免费报告分析师对该公司的预测，以了解更多信息。
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.
对这篇文章有什么反馈吗？担心内容吗？ 保持联系直接与我们联系。或者，也可以给编辑组发电子邮件，地址是implywallst.com。
本文由Simply Wall St.撰写，具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论，我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议，也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意，我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。