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Are Robust Financials Driving The Recent Rally In WuXi AppTec Co., Ltd.'s (SHSE:603259) Stock?
Are Robust Financials Driving The Recent Rally In WuXi AppTec Co., Ltd.'s (SHSE:603259) Stock?
WuXi AppTec's (SHSE:603259) stock is up by a considerable 22% over the past three months. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes. Specifically, we decided to study WuXi AppTec's ROE in this article.
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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
See our latest analysis for WuXi AppTec
How To Calculate Return On Equity?
ROE can be calculated by using the formula:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for WuXi AppTec is:
20% = CN¥9.0b ÷ CN¥45b (Based on the trailing twelve months to September 2022).
The 'return' is the amount earned after tax over the last twelve months. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.20 in profit.
What Has ROE Got To Do With Earnings Growth?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
WuXi AppTec's Earnings Growth And 20% ROE
At first glance, WuXi AppTec seems to have a decent ROE. On comparing with the average industry ROE of 12% the company's ROE looks pretty remarkable. This probably laid the ground for WuXi AppTec's significant 36% 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.
As a next step, we compared WuXi AppTec's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 36% in the same period.
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). This then helps them determine if the stock is placed for a bright or bleak future. Has the market priced in the future outlook for 603259? You can find out in our latest intrinsic value infographic research report.
Is WuXi AppTec Efficiently Re-investing Its Profits?
WuXi AppTec has a really low three-year median payout ratio of 22%, meaning that it has the remaining 78% left over to reinvest into its business. So it looks like WuXi AppTec is reinvesting profits heavily to grow its business, which shows in its earnings growth.
Moreover, WuXi AppTec is determined to keep sharing its profits with shareholders which we infer from its long history of three years of paying a dividend. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 21% of its profits over the next three years. Accordingly, forecasts suggest that WuXi AppTec's future ROE will be 19% which is again, similar to the current ROE.
Conclusion
On the whole, we feel that WuXi AppTec's performance has been quite good. 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. 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.
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.
WuXi AppTec's (SHSE:603259) stock is up by a considerable 22% over the past three months. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes. Specifically, we decided to study WuXi AppTec's ROE in this article.
药明康德(上海证券交易所代码:603259)的股票在过去三个月里上涨了22%。鉴于该公司令人印象深刻的业绩,我们决定更仔细地研究其财务指标,因为公司的长期财务健康状况通常决定着市场结果。具体地说,我们决定在本文中研究药明康德的净资产收益率。
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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
净资产收益率,即股本回报率,是评估一家公司从股东那里获得投资回报的有效程度的有用工具。换句话说,这是一个衡量公司股东提供的资本回报率的盈利比率。
See our latest analysis for WuXi AppTec
参见我们对药明康德的最新分析
How To Calculate Return On Equity?
如何计算股本回报率?
ROE can be calculated by using the formula:
可使用以下公式计算净资产收益率:
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 WuXi AppTec is:
因此,根据上述公式,药明康德的净资产收益率为:
20% = CN¥9.0b ÷ CN¥45b (Based on the trailing twelve months to September 2022).
20%=CN元90亿×CN元450亿元(基于截至2022年9月的12个月)。
The 'return' is the amount earned after tax over the last twelve months. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.20 in profit.
“报税表”是过去12个月的税后收入。这意味着,股东权益每增加1元,公司就会产生0.20元的利润。
What Has ROE Got To Do With Earnings Growth?
净资产收益率与盈利增长有什么关系?
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
我们已经证实,净资产收益率是一家公司未来收益的有效盈利指标。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。
WuXi AppTec's Earnings Growth And 20% ROE
药明康德的盈利增长和20%的净资产收益率
At first glance, WuXi AppTec seems to have a decent ROE. On comparing with the average industry ROE of 12% the company's ROE looks pretty remarkable. This probably laid the ground for WuXi AppTec's significant 36% 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.
乍一看,药明康德似乎有不错的净资产收益率。与12%的行业平均净资产收益率相比,该公司的净资产收益率看起来相当惊人。这可能为药明康德在过去五年中净收入大幅增长36%奠定了基础。我们认为,可能还有其他因素在起作用。例如-高收益留存或有效的管理到位。
As a next step, we compared WuXi AppTec's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 36% in the same period.
下一步,我们将药明康德的净收入增长与行业进行了比较,发现该公司与同期36%的行业平均增长率相比,有着类似的增长数字。
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). This then helps them determine if the stock is placed for a bright or bleak future. Has the market priced in the future outlook for 603259? You can find out in our latest intrinsic value infographic research report.
盈利增长是股票估值的一个重要因素。对于投资者来说,重要的是知道市场是否已经消化了公司预期的收益增长(或下降)。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。市场是否已经消化了603259的未来前景?你可以在我们最新的内在价值信息图研究报告中找到答案。
Is WuXi AppTec Efficiently Re-investing Its Profits?
药明康德是否有效地将其利润进行了再投资?
WuXi AppTec has a really low three-year median payout ratio of 22%, meaning that it has the remaining 78% left over to reinvest into its business. So it looks like WuXi AppTec is reinvesting profits heavily to grow its business, which shows in its earnings growth.
药明康德的三年中值派息率非常低,只有22%,这意味着它还有剩余的78%可以再投资于自己的业务。因此,药明康德似乎在将利润进行大量再投资,以实现业务增长,这从其盈利增长中可见一斑。
Moreover, WuXi AppTec is determined to keep sharing its profits with shareholders which we infer from its long history of three years of paying a dividend. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 21% of its profits over the next three years. Accordingly, forecasts suggest that WuXi AppTec's future ROE will be 19% which is again, similar to the current ROE.
此外,药明康德决心继续与股东分享利润,这是我们从其派息三年的悠久历史中推断出来的。在研究了最新的分析师共识数据后,我们发现,预计该公司在未来三年将继续支付约21%的利润。因此,预测显示,药明康德未来的净资产收益率将为19%,与目前的净资产收益率相似。
Conclusion
结论
On the whole, we feel that WuXi AppTec's performance has been quite good. 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. 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,我们觉得药明康德的表现是相当不错的。特别是,我们喜欢该公司对其业务进行大量再投资,并以高回报率进行投资。不出所料,这导致了令人印象深刻的收益增长。话虽如此,最新的行业分析师预测显示,该公司的收益增长预计将放缓。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。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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