Shanghai Pharmaceutical Co., Ltd. is a large pharmaceutical industry group, mainly engaged in drug research and development, manufacturing, distribution and retail. Its main products are raw materials and various medical products, health care products, medical devices and so on. Moreover, it is not only listed on the big A-shares, but also ringing the bell in Hong Kong stocks.
Although the operation of Shanghai medicine is fierce as a tiger, I just don't know what the future result will be. Let's not talk about the future, let's take a look at the current strength of Shanghai Pharmaceutical. Let's analyze its comprehensive strength from five aspects: cash, operation, profit, financial structure and debt repayment. Each item 100, with a total score of 500.
0 1 cash capacity: 70 cents is not everything, but you can't do anything without money. Although it can't be said that this is a material society of money, in the cruel capital market, companies must have money. Its money includes cash reserves and cash flow.
Since 20 17, the cash reserve of Shanghai medicine has been declining year by year, but fortunately it has dropped from 15.7% to 13.2%, with a relatively small decline. The most important thing is the lowest rate 13.2%, which is not enough, but it is enough.
The cash reserve is still average, and the cash flow situation is not good. Take the cash flow ratio as an example, the highest is only 8. 1%. Every year is a single-digit level, and the money earned every year is only a fraction of short-term debt, which is very bad.
The cash flow adequacy ratio has been increasing year by year since 20 16. It can be seen that Shanghai medicine has worked hard, but what is the effect? The highest is only 50%, and we have to continue to work hard. The proportion of cash reinvestment is even negative every year. Cash ability gives 70 points.
02 business ability: After 80 cents, it is time for management BLACKPINK to appear. With excellent management, the company will wake up in a dream. Because even if the funds are tight, excellent management can always come up with clever plans to tide over the difficulties.
From the perspective of total assets turnover rate, although Shanghai Pharmaceutical began to decrease year by year from 20 16, it decreased from 1.54 times a year to1.4/kloc-0 times a year, with a relatively small range. Secondly, at the lowest level, the management can do many businesses with the company's assets, which is also good.
Although the efficiency of the use of funds is quite fast, the ability to collect accounts needs to be strengthened. Its average collection period not only takes 82 days at the shortest, but also takes nearly three months to recover the payment, and it is getting longer every year, and the momentum is not very good.
Excellent ability to sell goods. Although the annual inventory turnover days of Shanghai Pharmaceutical have been slightly extended, it only takes 57 days at the highest time of 20 19, and it can sell goods in the past two months, and the selling ability is overwhelming. Business ability 80 points.
03 profitability: 30 what is the main purpose of the branch? Making money, of course. If you can't make money, nothing else can be discussed because even survival is a problem, and the rest are castles in the air. Although the shareholder return rate of Shanghai Pharmaceutical is only about 10%, it is at this level every year and is relatively stable.
Although the gross profit margin of Shanghai Pharmaceutical is increasing every year, the highest is only 14.4%, and the profit margin is a little small, which is hard work. How does it make money? The operating profit rate is not only the highest 4%, but also hard-earned money, which has been decreasing year by year since 20 17.
The profit margin is relatively small, the ability to make money is relatively weak, and the ability to resist risks cannot be expected. No, its marginal rate of business safety has been decreasing year by year since 20 17, and only 23% in 20 19. Operating profit only accounts for more than 20% of gross profit, which is very poor. Give 30 points for profitability.
Financial structure: 70% stability is the premise of development. If the company's foundation is not solid, it is empty talk to want to develop externally. The most important foundation of an enterprise is the financial structure, that is, the ratio of shareholders' capital contribution to foreign debt. If the two are not well controlled, there will be big problems within the company.
Judging from the debt level, Shanghai medicine has not only increased sharply year by year, but also reached 64% in 20 19. This means that the contribution of shareholders is only 36%. Debt is nearly twice as much as its own funds, which is a bit too high and dangerous.
Although the debt level is a bit high, there is no problem with the long-term source of funds. The ratio of long-term funds to heavy assets is as low as 5 14%, or even as high as 635%. The fluctuation is a little big, but it is completely enough. Give 70 points for financial structure.
05 solvency: 50 points to do business, you have to know how to make money with other people's money. Where does the enterprise "other people's money" come from? I usually borrow money from the bank, but why should the bank lend you money? You must pull out the assets of the enterprise and see how its solvency is.
In terms of liquidity ratio, Shanghai Pharmaceuticals decreased from 147% to 138% in 20 17 years, and remained stable at 135% in other years. This means that the current assets are only about 0.3 times of the 65438+ short-term debt, which is a bit too low.
Not only is the current ratio low, but the quick ratio is even more excessive. From 20 16, it decreased year by year. The key is that by 20 19, the level is only 88%, and it lacks the ability to pay off short-term debts immediately. Solvency is 50 points.
Shanghai medical score: 300, excellent and excellent rate: 60%.
Written in the last two months, there have been a lot of medical tricks in Shanghai, and all kinds of capital operations are 666, but the final result, let alone, is that its own strength is this, and we must work hard to strengthen it! I hope this operation can really be as fierce as a tiger, and it will be done on the next level.