Guobang Pharma Ltd. (SHSE:605507) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
Guobang Pharma Ltd. (SHSE:605507) Stock's Been Sliding But Fundamentals Look Decent: Will The Market Correct The Share Price In The Future?
With its stock down 7.0% over the past three months, it is easy to disregard Guobang Pharma (SHSE:605507). But if you pay close attention, you might find that its key financial indicators look quite decent, which could mean that the stock could potentially rise in the long-term given how markets usually reward more resilient long-term fundamentals. Specifically, we decided to study Guobang Pharma's ROE in this article.
在過去的三個月裡,國邦醫藥的股價下跌了7.0%,人們很容易忽視國邦醫藥(上交所:605507)。但如果你密切關注,你可能會發現,該公司的關鍵財務指標看起來相當不錯,這可能意味著,鑑於市場通常會獎勵更具彈性的長期基本面因素,該股可能會在長期內上漲。具體地說,我們決定在本文中研究國邦醫藥的淨資產收益率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股本回報率(ROE)是對一家公司增值和管理投資者資金的效率的測試。簡而言之,它衡量的是一家公司相對於股東權益的盈利能力。
See our latest analysis for Guobang Pharma
查看我們對國邦醫藥的最新分析
How Is ROE Calculated?
淨資產收益率是如何計算的?
The formula for return on equity is:
這個股本回報率公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率=(持續經營的)淨利潤?股東權益
So, based on the above formula, the ROE for Guobang Pharma is:
因此,根據上述公式,國邦醫藥的淨資產收益率為:
11% = CN¥782m ÷ CN¥7.2b (Based on the trailing twelve months to June 2023).
11%=7.82億元×72億元(以截至2023年6月的12個月為基礎)。
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.11.
“報稅表”是過去12個月的稅後收入。因此,這意味著股東每投資1元人民幣,公司就會產生0.11元的利潤。
What Has ROE Got To Do With Earnings Growth?
淨資產收益率與盈利增長有什麼關係?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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.
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。根據公司選擇再投資或“保留”多少利潤,我們就能夠評估一家公司未來產生利潤的能力。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。
Guobang Pharma's Earnings Growth And 11% ROE
國邦醫藥盈利增長和11%的淨資產收益率
At first glance, Guobang Pharma's ROE doesn't look very promising. However, given that the company's ROE is similar to the average industry ROE of 9.1%, we may spare it some thought. Having said that, Guobang Pharma has shown a modest net income growth of 20% over the past five years. Taking into consideration that the ROE is not particularly high, we reckon that there could also be other factors at play which could be influencing the company's growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
乍一看,國邦醫藥的淨資產收益率看起來並不是很有希望。然而,鑑於該公司的淨資產收益率與9.1%的行業平均淨資產收益率相似,我們或許可以省去一些思考。話雖如此,國邦醫藥在過去五年中的淨收入溫和增長了20%。考慮到淨資產收益率不是特別高,我們認為也可能有其他因素在發揮作用,可能正在影響公司的增長。例如,公司管理層可能做出了一些良好的戰略決策,或者公司的派息率較低。
Next, on comparing with the industry net income growth, we found that Guobang Pharma's growth is quite high when compared to the industry average growth of 10% in the same period, which is great to see.
接下來,對比行業淨收入增長,我們發現,與同期10%的行業平均增長相比,國邦醫藥的增長相當高,這是非常可喜的。
Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. If you're wondering about Guobang Pharma's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
盈利增長是評估一隻股票時需要考慮的一個重要指標。對於投資者來說,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)。通過這樣做,他們將知道股票是將進入清澈的藍色水域,還是等待沼澤水域。如果你想知道國邦醫藥的估值,看看這個衡量其本益比的指標,與其行業相比。
Is Guobang Pharma Making Efficient Use Of Its Profits?
國邦醫藥是否在有效利用其利潤?
Guobang Pharma has a healthy combination of a moderate three-year median payout ratio of 40% (or a retention ratio of 60%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.
正如我們上面看到的,國邦醫藥擁有40%的適度三年中值派息率(或60%的留存率)和可觀的收益增長的健康組合,這意味著該公司一直在有效利用其利潤。
Along with seeing a growth in earnings, Guobang Pharma only recently started paying dividends. Its quite possible that the company was looking to impress its shareholders.
在盈利增長的同時,國邦醫藥直到最近才開始派發股息。該公司很可能希望給股東留下深刻印象。
Summary
摘要
Overall, we feel that Guobang Pharma 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. On studying current analyst estimates, we found that analysts expect the company to continue its recent growth streak. 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.
總體而言,我們認為國邦醫藥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。在研究了分析師目前的預測後,我們發現,分析師預計該公司將繼續最近的增長勢頭。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。
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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.