Regeneron Pharmaceuticals, Inc.'s (NASDAQ:REGN) Stock's On An Uptrend: Are Strong Financials Guiding The Market?
Regeneron Pharmaceuticals, Inc.'s (NASDAQ:REGN) Stock's On An Uptrend: Are Strong Financials Guiding The Market?
Regeneron Pharmaceuticals (NASDAQ:REGN) has had a great run on the share market with its stock up by a significant 11% over the last three months. Since the market usually pay for a company's long-term fundamentals, we decided to study the company's key performance indicators to see if they could be influencing the market. In this article, we decided to focus on Regeneron Pharmaceuticals' ROE.
再生元製藥公司（納斯達克：REGN）股票在過去三個月中漲幅顯著，達到11％。由於市場通常會爲公司的長期基本面付費，因此我們決定研究公司的關鍵業績指標，以確定它們是否可能影響市場。在本文中，我們決定重點關注再生元製藥公司的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.
ROE（淨資產收益率）是股東需考慮的一個重要因素，因爲它告訴他們資本被有效地再投資的效果如何。換句話說，它揭示了公司將股東的投資轉化爲利潤的成功程度。
How Is ROE Calculated?
淨資產收益率怎麼計算？
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤（從持續經營中獲得）÷ 股東權益
So, based on the above formula, the ROE for Regeneron Pharmaceuticals is:
因此，根據上述公式，再生元製藥公司的roe爲:
14% = US$3.9b ÷ US$27b (Based on the trailing twelve months to March 2024).
14% = US$3.9b ÷ US$27b（基於過去12個月至2024年3月）。
The 'return' is the profit over the last twelve months. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.14.
“回報”是指過去12個月的利潤。這意味着，對於每1美元的股東投資，該公司將獲得0.14美元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
既然我們已經確定ROE是一種有效的利潤生成標準，用於評估公司未來的盈利能力，我們現在需要評估公司“保留”爲未來增長而重新投資的利潤多少，這使我們對公司的增長潛力有了一個了解。一般而言，在其他條件相等的情況下，ROE和利潤留存高的公司，增長率比沒有這些屬性的公司要高。
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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.
因此，我們已經了解到ROE衡量公司如何高效地創造利潤。根據公司重新投資或“保留”的利潤數量以及其有效性，我們隨後能夠評估公司的收益增長潛力。假設其他所有因素均保持不變，則ROE和利潤保留率越高，相對於不一定具備這些特徵的公司，公司的增長率就越高。
A Side By Side comparison of Regeneron Pharmaceuticals' Earnings Growth And 14% ROE
再生元製藥公司盈利增長和14％的ROE比較
To start with, Regeneron Pharmaceuticals' ROE looks acceptable. Further, the company's ROE is similar to the industry average of 14%. Consequently, this likely laid the ground for the decent growth of 13% seen over the past five years by Regeneron Pharmaceuticals.
首先，再生元製藥公司的ROE看起來是可以接受的。此外，該公司的ROE與行業平均水平14%相似。因此，這很可能爲再生元製藥公司過去五年所看到的13%的良好增長奠定了基礎。
We then compared Regeneron Pharmaceuticals' net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 16% in the same 5-year period, which is a bit concerning.
我們隨後將再生元製藥公司的淨收入增長與行業進行了比較，並發現該公司的增長率低於同一5年期間平均行業增長率16％，這有點令人擔憂。
The 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. Is REGN fairly valued? This infographic on the company's intrinsic value has everything you need to know.
評估公司價值的基礎在很大程度上與其盈利增長有關。投資者需要判斷的下一步是，預期的盈利增長（或缺乏盈利增長）是否已經反映在股票價格中。這樣做可以幫助他們確定股票的未來前景是否看好或險象環生。REGN是否定價合理？該公司內在價值的信息圖包含您需要知道的所有內容。
Is Regeneron Pharmaceuticals Making Efficient Use Of Its Profits?
再生元製藥公司是否有效地利用其利潤？
Regeneron Pharmaceuticals doesn't pay any regular dividends, meaning that all of its profits are being reinvested in the business, which explains the fair bit of earnings growth the company has seen.
再生元製藥公司不支付任何定期股息，這意味着其所有利潤都被重新投資於業務中，這解釋了該公司所看到的相當多的盈利增長。
Summary
總的來說，我們對偉明環保的表現非常滿意。具體而言，我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然，這導致公司的收益大幅增長。但是，最新的行業分析師預測表明，該公司的收益預計將加速增長。
Overall, we are quite pleased with Regeneron Pharmaceuticals' performance. 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 a good amount of growth in its earnings. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. 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.
總的來說，我們對再生元製藥公司的表現感到相當滿意。具體來說，我們喜歡公司以高回報率重新投資其大量利潤的做法。這當然導致了該公司收益的相當數量增長。最新的行業分析師預測顯示，該公司預計將保持其當前的增長率。要了解有關該公司未來盈利增長預測的更多信息，請查看有關該公司的分析師預測的免費報告。
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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.
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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譯文內容由第三人軟體翻譯。