Shanghai Pharmaceuticals’, or SPH’s, revenue grew at a compounded annual growth rate of 10.9% in the past 10 years. The growth is driven by its medical distribution segment due to industry consolidation and expansion. Similar to other larger pharmaceutical distributors, SPH, in our view, is likely to grow faster than the distribution industry average in the next three years as the industry further consolidates.
Price cuts for VBP are more lenient, raising SPH’s operating margin.
The current cycle of interest-rate cuts in China reverses, leading to higher short-term interest servicing costs for SPH.
|
Metric
|
02607
|
COR
|
01099
|
|---|---|---|---|
Price/Earnings (Normalized) | 12.61 | 18.31 | 7.31 |
Price/Book Value | 0.59 | 43.35 | 0.86 |
Price/Sales | 0.16 | 0.17 | 0.11 |
Price/Cash Flow | 17.49 | 14.62 | 3.56 |
|
Metric
|
02607
|
COR
|
01099
|
|---|---|---|---|
Quick Ratio | 1.00 | 0.50 | 1.05 |
Current Ratio | 1.34 | 0.89 | 1.39 |
Interest Coverage | 4.98 | 9.10 | 7.35 |
|
Metric
|
02607
|
COR
|
01099
|
|---|---|---|---|
Return on Assets (Normalized) | 1.72% | 4.19% | 4.43% |
Return on Equity (Normalized) | 5.29% | 373.63% | 24.34% |
Return on Invested Capital (Normalized) | 3.75% | 47.73% | 9.74% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
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SHPMF
| — | Vjrlnn | $8.8 Bil | |||
| Shanghai Pharmaceuticals Holding Co Ltd ADR repr Class H
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