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Livzon Pharmaceutical Group Inc. (SZSE:000513) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
Livzon Pharmaceutical Group Inc. (SZSE:000513) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
With its stock down 16% over the past month, it is easy to disregard Livzon Pharmaceutical Group (SZSE:000513). However, the company's fundamentals look pretty decent, and long-term financials are usually aligned with future market price movements. In this article, we decided to focus on Livzon Pharmaceutical Group's 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 short, ROE shows the profit each dollar generates with respect to its shareholder investments.
Check out our latest analysis for Livzon Pharmaceutical Group
How Is ROE Calculated?
The formula for ROE is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Livzon Pharmaceutical Group is:
13% = CN¥2.0b ÷ CN¥15b (Based on the trailing twelve months to March 2022).
The 'return' is the yearly profit. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.13 in profit.
What Is The Relationship Between ROE And Earnings Growth?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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 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.
Livzon Pharmaceutical Group's Earnings Growth And 13% ROE
At first glance, Livzon Pharmaceutical Group seems to have a decent ROE. Especially when compared to the industry average of 8.3% the company's ROE looks pretty impressive. For this reason, Livzon Pharmaceutical Group's five year net income decline of 13% raises the question as to why the high ROE didn't translate into earnings growth. Based on this, we feel that there might be other reasons which haven't been discussed so far in this article that could be hampering the company's growth. These include low earnings retention or poor allocation of capital.
That being said, we compared Livzon Pharmaceutical Group's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 9.0% in the same period.
SZSE:000513 Past Earnings Growth August 4th 2022The basis for attaching value to a company is, to a great extent, tied to its earnings growth. 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. If you're wondering about Livzon Pharmaceutical Group's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
Is Livzon Pharmaceutical Group Making Efficient Use Of Its Profits?
Livzon Pharmaceutical Group has a high three-year median payout ratio of 68% (that is, it is retaining 32% of its profits). This suggests that the company is paying most of its profits as dividends to its shareholders. This goes some way in explaining why its earnings have been shrinking. With only very little left to reinvest into the business, growth in earnings is far from likely.
Additionally, Livzon Pharmaceutical Group has paid dividends over a period of at least ten years, which means that the company's management is determined to pay dividends even if it means little to no earnings growth.
Summary
Overall, we feel that Livzon Pharmaceutical Group certainly does have some positive factors to consider. Although, we are disappointed to see a lack of growth in earnings even in spite of a high ROE. Bear in mind, the company reinvests a small portion of its profits, which means that investors aren't reaping the benefits of the high rate of return. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. 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.
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.
在過去的一個月裏,Livzon的股價下跌了16%,人們很容易忽視Livzon製藥集團(上交所:000513)。然而,該公司的基本面看起來相當不錯,長期財務狀況通常與未來的市場價格走勢保持一致。在本文中,我們決定將重點放在Livzon製藥集團的ROE上。
淨資產收益率,即股本回報率,是評估一家公司從股東那裏獲得投資回報的有效程度的有用工具。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。
查看我們對Livzon製藥集團的最新分析
淨資產收益率是如何計算的?
這個淨資產收益率公式是:
股本回報率=(持續經營的)淨利潤?股東權益
因此,根據上述公式,Livzon製藥集團的淨資產收益率為:
13%=20億元×150億元(以截至2022年3月的12個月為基礎)。
“回報”就是年度利潤。另一種説法是,公司每持有價值1元的股權,就能賺取0.13元的利潤。
淨資產收益率與盈利增長之間有什麼關係?
到目前為止,我們已經瞭解到淨資產收益率衡量的是一家公司創造利潤的效率。我們現在需要評估公司將多少利潤再投資或“保留”用於未來的增長,這就讓我們對公司的增長潛力有了一個瞭解。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。
Livzon製藥集團的收益增長和13%的淨資產收益率
乍一看,Livzon製藥集團似乎擁有不錯的淨資產收益率。特別是與8.3%的行業平均水平相比,該公司的淨資產收益率看起來相當令人印象深刻。出於這個原因,Livzon製藥集團五年來淨利潤下降了13%,這引發了一個問題,即為什麼高淨資產收益率沒有轉化為收益增長。基於此,我們認為,可能還有本文迄今未討論的其他原因,可能正在阻礙公司的增長。這些問題包括低收益留存或資本配置不善。
話雖如此,我們將Livzon Pharmtics Group的表現與行業進行了比較,當我們發現該公司在同一時期盈利縮水時,該行業的盈利以9.0%的速度增長時,我們感到擔憂。
深圳證交所:過去000513的收益增長2022年8月4日賦予一家公司價值的基礎在很大程度上與其盈利增長掛鈎。投資者下一步需要確定的是,預期的收益增長是否已經計入了股價。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。如果你想知道Livzon製藥集團的估值,看看這個衡量其市盈率的指標,與其行業相比。
Livzon製藥集團是否在有效利用其利潤?
Livzon製藥集團的三年中值派息率高達68%(即,它保留了32%的利潤)。這表明該公司正在將大部分利潤作為股息支付給股東。這在一定程度上解釋了為什麼它的收益一直在縮水。由於可再投資於該業務的資金所剩無幾,盈利增長的可能性很小。
此外,Livzon製藥集團在至少十年的時間裏支付了股息,這意味着公司管理層決心支付股息,即使這意味着收益幾乎沒有增長。
摘要
總體而言,我們認為Livzon製藥集團確實有一些積極的因素需要考慮。然而,我們失望地看到,儘管淨資產收益率很高,但收益增長乏力。請記住,該公司將一小部分利潤進行再投資,這意味着投資者沒有從高回報率中獲益。既然如此,最新的行業分析師預測顯示,分析師們預計該公司的收益增長率將大幅提高。這些分析師的預期是基於對該行業的廣泛預期,還是基於該公司的基本面?點擊此處進入我們分析師對該公司的預測頁面。
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implywallst.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。
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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