Could The Market Be Wrong About Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Given Its Attractive Financial Prospects?
It is hard to get excited after looking at Regeneron Pharmaceuticals' (NASDAQ:REGN) recent performance, when its stock has declined 29% over the past three months. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Particularly, we will be paying attention to Regeneron Pharmaceuticals' ROE today.
在看到再生元製藥公司(納斯達克:REGN)最近的表現後,難以感到興奮,因爲其股票在過去三個月中下跌了29%。然而,股票價格通常受到公司長期財務表現的驅動,而在這種情況下,看起來相當有前景。特別是,我們今天將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.
股東應該考慮的一個重要因素是淨資產收益率(ROE),因爲它可以告訴他們,他們的資本是如何有效地再投資的。換句話說,它揭示了公司將股東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?
The formula for ROE is:
ROE的公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股東權益回報率 = 凈利潤(來自持續運營)÷ 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:
16% = US$4.7b ÷ US$29b (Based on the trailing twelve months to September 2024).
16% = US$47億 ÷ US$290億(基於截至2024年9月的過去12個月數據)。
The 'return' is the yearly profit. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.16 in profit.
'回報'是指每年的利潤。換句話說,公司的每1美元的股本能夠賺取0.16美元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
What Is The Relationship Between ROE And Earnings Growth?
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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.
到目前爲止,我們已經了解了ROE衡量公司利潤產生效率的程度。現在我們需要評估公司爲未來增長而重新投資或「保留」的利潤數量,然後了解公司的增長潛力。假設其他一切不變,ROE和利潤保留率越高,公司的增長率就越高,而與不一定具備這些特徵的公司相比,這種增長率的相對性就越高。
A Side By Side comparison of Regeneron Pharmaceuticals' Earnings Growth And 16% ROE
再生元製藥公司的收益增長與16%的ROE的並列比較
To begin with, Regeneron Pharmaceuticals seems to have a respectable ROE. Even when compared to the industry average of 18% the company's ROE looks quite decent. Consequently, this likely laid the ground for the decent growth of 7.3% seen over the past five years by Regeneron Pharmaceuticals.
首先,再生元製藥公司的ROE看起來相當可觀。即便與18%的行業平均水平相比,該公司的ROE也顯得相當不錯。因此,這可能爲再生元製藥公司在過去五年中取得7.3%的可觀增長奠定了基礎。
As a next step, we compared Regeneron Pharmaceuticals' net income growth with the industry and were disappointed to see that the company's growth is lower than the industry average growth of 19% in the same period.
接下來,我們將再生元製藥公司的凈利潤增長與行業進行了對比,令人失望的是,該公司的增長低於同期19%的行業平均增長。
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). Doing so will help them establish if the stock's future looks promising or ominous. Is Regeneron Pharmaceuticals fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增長是評估股票時一個重要的指標。投資者需要知道市場是否考慮了公司預期的盈利增長(或下降)。這樣可以幫助他們判斷股票的未來是看好還是不妙。再生元製藥公司相較於其他公司是否被合理估值?這三種估值指標可能會幫助你做出決定。
Is Regeneron Pharmaceuticals Efficiently Re-investing Its Profits?
再生元製藥公司是否有效地將其利潤再投資?
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分紅派息,這意味着其所有利潤都在再投資於業務,這解釋了公司所看到的相當可觀的盈利增長。
Conclusion
結論
In total, we are pretty happy with Regeneron Pharmaceuticals' performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a respectable growth in its earnings. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. 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,我們對再生元製藥公司的表現感到相當滿意。特別是看到公司在其業務上大量投資,加上高回報率,導致了盈利的可觀增長。話雖如此,看看當前分析師的預測,我們發現該公司的盈利預計將會加速增長。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?點擊這裏查看我們分析師對該公司的預測頁面。
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對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall ST在提到的任何股票中均沒有持倉。
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