Is Jianzhijia Pharmaceutical Chain Group Co., Ltd.'s (SHSE:605266) Recent Stock Performance Tethered To Its Strong Fundamentals?
Is Jianzhijia Pharmaceutical Chain Group Co., Ltd.'s (SHSE:605266) Recent Stock Performance Tethered To Its Strong Fundamentals?
Most readers would already be aware that Jianzhijia Pharmaceutical Chain Group's (SHSE:605266) stock increased significantly by 7.0% over the past week. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. In this article, we decided to focus on Jianzhijia Pharmaceutical Chain Group's ROE.
大多數讀者已經意識到，健之佳醫藥連鎖集團（SHSE: 605266）的股票在過去一週大幅上漲了7.0％。鑑於從長遠來看，市場會獎勵強勁的財務狀況，我們想知道在這種情況下是否如此。在這篇文章中，我們決定重點關注健之佳醫藥連鎖集團的投資回報率。
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.
股本回報率或投資回報率是股東需要考慮的重要因素，因爲它可以告訴他們資本再投資的有效性。換句話說，它揭示了公司成功地將股東投資轉化爲利潤。
How Is ROE Calculated?
ROE 是如何計算的？
The formula for return on equity is:
股本回報率的公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤（來自持續經營業務）÷ 股東權益
So, based on the above formula, the ROE for Jianzhijia Pharmaceutical Chain Group is:
因此，根據上述公式，健之佳連鎖藥業集團的投資回報率爲：
13% = CN¥391m ÷ CN¥2.9b (Based on the trailing twelve months to March 2024).
13% = 3.91億元人民幣 ÷ 29億元人民幣（基於截至2024年3月的過去十二個月）。
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¥0.13.
“回報” 是過去十二個月的稅後收入。因此，這意味着公司每投資1元人民幣，公司就會產生0.13元人民幣的利潤。
What Has ROE Got To Do With Earnings Growth?
投資回報率與收益增長有什麼關係？
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 all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
到目前爲止，我們已經了解到，投資回報率衡量的是公司創造利潤的效率。根據公司選擇將多少利潤進行再投資或 “保留”，我們便能夠評估公司未來創造利潤的能力。假設其他條件都一樣，與功能不相同的公司相比，具有更高股本回報率和更高利潤保留率的公司通常具有更高的增長率。
Jianzhijia Pharmaceutical Chain Group's Earnings Growth And 13% ROE
健之佳醫藥連鎖集團的收益增長和13％的投資回報率
At first glance, Jianzhijia Pharmaceutical Chain Group seems to have a decent ROE. On comparing with the average industry ROE of 7.3% the company's ROE looks pretty remarkable. This probably laid the ground for Jianzhijia Pharmaceutical Chain Group's moderate 20% net income growth seen over the past five years.
乍一看，健之佳醫藥連鎖集團的投資回報率似乎不錯。與7.3％的行業平均投資回報率相比，該公司的投資回報率看起來相當可觀。這可能爲健之佳醫藥連鎖集團在過去五年中實現20％的溫和淨收入增長奠定了基礎。
As a next step, we compared Jianzhijia Pharmaceutical Chain Group's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 8.1%.
下一步，我們將健之佳醫藥連鎖集團的淨收入增長與行業進行了比較，令人高興的是，我們發現該公司的增長高於行業平均增長8.1％。
Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Jianzhijia Pharmaceutical Chain Group fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增長是股票估值的重要因素。無論如何，投資者應設法確定預期的收益增長或下降是否已計入其中。通過這樣做，他們將知道股票是走向清澈的藍色海水還是沼澤水域在等着呢。與其他公司相比，健之佳醫藥連鎖集團的估值是否合理？這3種估值指標可能會幫助您做出決定。
Is Jianzhijia Pharmaceutical Chain Group Making Efficient Use Of Its Profits?
健之佳連鎖藥業集團是否在有效利用其利潤？
Jianzhijia Pharmaceutical Chain Group has a healthy combination of a moderate three-year median payout ratio of 41% (or a retention ratio of 59%) and a respectable amount of growth in earnings as we saw above, meaning that the company has been making efficient use of its profits.
健之佳醫藥連鎖集團的三年派息率中位數爲41％（或59％的留存率），再加上我們在上面看到的可觀的收益增長，這意味着該公司一直在有效利用其利潤。
Moreover, Jianzhijia Pharmaceutical Chain Group is determined to keep sharing its profits with shareholders which we infer from its long history of three years of paying a dividend.
此外，健之佳醫藥連鎖集團決心繼續與股東分享利潤，這是我們從其三年派息的長期歷史中推斷出來的。
Conclusion
結論
On the whole, we feel that Jianzhijia Pharmaceutical Chain Group's performance has been quite good. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總體而言，我們覺得健之佳醫藥連鎖集團的表現相當不錯。具體而言，我們喜歡該公司以高回報率再投資其利潤的很大一部分。當然，這導致該公司的收益大幅增長。話雖如此，最新的行業分析師預測顯示，該公司的收益有望加速。要詳細了解分析師對公司的最新預測，請查看該公司的分析師預測的可視化。
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.
對這篇文章有反饋嗎？對內容感到擔憂？直接聯繫我們。 或者，給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論，我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議，也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意，我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之，華爾街沒有持有任何上述股票的頭寸。
譯文內容由第三人軟體翻譯。