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Shanghai Yizhong Pharmaceutical Co., Ltd.'s (SHSE:688091) Stock Has Seen Strong Momentum: Does That Call For Deeper Study Of Its Financial Prospects?
Shanghai Yizhong Pharmaceutical Co., Ltd.'s (SHSE:688091) Stock Has Seen Strong Momentum: Does That Call For Deeper Study Of Its Financial Prospects?
Shanghai Yizhong Pharmaceutical (SHSE:688091) has had a great run on the share market with its stock up by a significant 18% over the last three months. As most would know, fundamentals are what usually guide market price movements over the long-term, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. In this article, we decided to focus on Shanghai Yizhong Pharmaceutical's ROE.
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. Put another way, it reveals the company's success at turning shareholder investments into profits.
See our latest analysis for Shanghai Yizhong Pharmaceutical
How To Calculate Return On Equity?
The formula for return on equity is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Shanghai Yizhong Pharmaceutical is:
2.7% = CN¥32m ÷ CN¥1.2b (Based on the trailing twelve months to March 2022).
The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.03 in profit.
What Has ROE Got To Do With Earnings Growth?
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. 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.
A Side By Side comparison of Shanghai Yizhong Pharmaceutical's Earnings Growth And 2.7% ROE
It is hard to argue that Shanghai Yizhong Pharmaceutical's ROE is much good in and of itself. Even when compared to the industry average of 8.3%, the ROE figure is pretty disappointing. However, we we're pleasantly surprised to see that Shanghai Yizhong Pharmaceutical grew its net income at a significant rate of 30% in the last five years. We believe that there might be other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.
Next, on comparing with the industry net income growth, we found that Shanghai Yizhong Pharmaceutical's growth is quite high when compared to the industry average growth of 9.2% in the same period, which is great to see.
SHSE:688091 Past Earnings Growth August 12th 2022Earnings 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. 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 Shanghai Yizhong Pharmaceutical is trading on a high P/E or a low P/E, relative to its industry.
Is Shanghai Yizhong Pharmaceutical Making Efficient Use Of Its Profits?
Shanghai Yizhong Pharmaceutical doesn't pay any dividend to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
Conclusion
Overall, we feel that Shanghai Yizhong Pharmaceutical certainly does have some positive factors to consider. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high earnings growth. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. Our risks dashboard would have the 2 risks we have identified for Shanghai Yizhong Pharmaceutical.
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.
上海益眾藥業(上海證券交易所股票代碼:688091)在過去三個月中股價大幅上漲了18%。正如大多數人都知道的那樣,基本面因素通常是長期市場價格走勢的指引,因此我們決定今天查看該公司的關鍵財務指標,以確定它們是否對最近的價格走勢起到了作用。在本文中,我們決定將重點放在上海益眾藥業的淨資產收益率上。
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。換句話説,它揭示了該公司成功地將股東投資轉化為利潤。
查看我們對上海益眾藥業的最新分析
如何計算股本回報率?
這個股本回報率公式是:
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,上海一重藥業的淨資產收益率為:
2.7%=3200萬元×12億元(以截至2022年3月的12個月為基礎)。
“報税表”是過去12個月的税後收入。另一種説法是,公司每持有價值1元的股權,就能賺取0.03元的利潤。
淨資產收益率與盈利增長有什麼關係?
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。根據公司將這些利潤再投資或“保留”多少,以及這樣做的效率如何,我們就能夠評估一家公司的收益增長潛力。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。
上海一重藥業盈利增長與淨資產收益率2.7%的並列比較
很難説上海一重藥業的淨資產收益率本身就很好。即使與8.3%的行業平均水平相比,淨資產收益率也是相當令人失望的。然而,令人驚喜的是,我們看到上海益眾藥業在過去五年中淨收入以30%的顯著速度增長。我們認為,可能還有其他方面正在積極影響公司的收益增長。例如-高收益留存或有效的管理到位。
接下來,對比行業淨收入增長,我們發現,與同期9.2%的行業平均增長相比,上海益眾醫藥的增長相當高,這是非常可喜的。
上海證券交易所:過去688091的收益增長2022年8月12日盈利增長是股票估值的一個重要因素。對於投資者來説,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)。這有助於他們確定這隻股票是為光明還是黯淡的未來做準備。衡量預期收益增長的一個很好的指標是市盈率,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,你可能想看看上海一重藥業相對於其行業的市盈率是高還是低。
上海益眾藥業是否有效利用了利潤?
上海一重藥業不向股東支付任何股息,這意味着該公司一直在將所有利潤再投資於該業務。這很可能是推動上述高收益增長數字的原因。
結論
總體而言,我們覺得上海益眾藥業確實有一些積極的因素需要考慮。儘管回報率很低,但該公司將很高比例的利潤再投資於業務,無疑是其高收益增長的原因。雖然我們不會完全解僱這家公司,但我們要做的是努力確定這項業務在公司周圍做出更明智的決定的風險有多大。我們的風險儀錶板將包含我們為上海益眾藥業確定的兩個風險。
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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風險及免責聲明
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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