Is Incyte Corporation's (NASDAQ:INCY) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
Is Incyte Corporation's (NASDAQ:INCY) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
Incyte (NASDAQ:INCY) has had a great run on the share market with its stock up by a significant 21% over the last three months. Given that the market rewards strong financials in the long-term, we wonder if that is the case in this instance. Particularly, we will be paying attention to Incyte's ROE today.
Incyte (納斯達克:INCY)股價在過去的三個月中上漲了顯著的21%，表現不俗。考慮到市場會長期獎勵強大的財務狀況，我們想知道這個案例是否如此。特別是，我們今天將關注Incyte的roe。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股本回報率或roe是評估公司管理層如何有效利用公司資本的關鍵指標。簡而言之，ROE顯示每美元股東投資所產生的利潤。
How Do You Calculate Return On Equity?
怎樣計算ROE?
The formula for ROE is:
roe的公式是：
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 Incyte is:
因此，根據上述公式，Incyte的roe爲:
14% = US$745m ÷ US$5.4b (Based on the trailing twelve months to March 2024).
14% = 7,4500萬美元 ÷ 54億美元 (基於最近12個月至2024年3月)。
The 'return' is the yearly profit. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.14 in profit.
'回報'是一年的利潤。 這種概念化的方法是，對於每1美元的股東資本，公司創造了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。
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
我們已經確定ROE是衡量公司未來盈利能力的有效指標。基於公司選擇再投資或“留存”利潤的比例，我們可以評估公司未來生成利潤的能力。其他條件相同的情況下，具有更高淨資產收益率和更高利潤留存率的公司通常比沒有這些特點的公司增長率更高。
A Side By Side comparison of Incyte's Earnings Growth And 14% ROE
Incyte收益增長和14%的roe的並列比較
To begin with, Incyte seems to have a respectable ROE. Further, the company's ROE is similar to the industry average of 14%. This certainly adds some context to Incyte's exceptional 25% net income growth seen over the past five years. We reckon that there could also be other factors at play here. Such as - high earnings retention or an efficient management in place.
首先，Incyte似乎具有可觀的roe。 此外，該公司的roe與行業平均水平相當，爲14%。 這無疑爲Incyte過去五年裏出色的25%的淨利潤增長增加了一些背景。 我們認爲這裏還可能存在其他因素，例如高額利潤保留或有效的管理。
As a next step, we compared Incyte'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 16%.
作爲下一步，我們將Incyte的淨收益增長與行業進行了比較，並令人高興的是，我們發現公司的增長比16%的行業平均增長更高。
Earnings growth is a huge factor in stock valuation. 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 Incyte fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增長是股票估值的一個重要因素。投資者需要確定的下一個是期望的收益增長，或者沒有內含在股價中，這將有助於他們確定股票的未來看起來是有前途還是令人擔憂。Incyte是否與其他企業公平比較價值？這3個估值方法可能會幫助您做出決策。
Is Incyte Making Efficient Use Of Its Profits?
Incyte是否有效利用其利潤？
Incyte doesn't pay any regular dividends 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.
Incyte沒有向股東支付常規分紅，這意味着公司一直將所有利潤重新投資到業務中。這很可能是上面討論的高收益增長數字所推動的。
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 Incyte's performance. Particularly, we like that the company is reinvesting heavily into its business, and at a high rate of return. Unsurprisingly, this has led to an impressive earnings growth. With that said, the latest industry analyst forecasts reveal that the company's earnings growth is expected to slow down. 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.
總的來說，我們對Incyte的表現感到滿意。特別是，我們喜歡公司大力重投業務，並且有高的回報率。 不出所料，這已導致了令人印象深刻的收益增長。 但與此同時，最新的行業分析師預測顯示，公司的收益增長預計將放緩。這些分析師的預期是基於行業的廣泛預期，還是基於公司的基本面？ 點擊這裏進入我們的分析師預測頁面。
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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.
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。
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
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。
譯文內容由第三人軟體翻譯。