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China National Accord Medicines (SZSE:000028) Return-on-Tangible-Asset

: 3.58% (As of Dec. 2023)
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Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. China National Accord Medicines's annualized Net Income for the quarter that ended in Dec. 2023 was ¥1,638 Mil. China National Accord Medicines's average total tangible assets for the quarter that ended in Dec. 2023 was ¥45,785 Mil. Therefore, China National Accord Medicines's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 was 3.58%.

The historical rank and industry rank for China National Accord Medicines's Return-on-Tangible-Asset or its related term are showing as below:

SZSE:000028' s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 3.54   Med: 4.58   Max: 6.05
Current: 3.61

During the past 13 years, China National Accord Medicines's highest Return-on-Tangible-Asset was 6.05%. The lowest was 3.54%. And the median was 4.58%.

SZSE:000028's Return-on-Tangible-Asset is ranked better than
58.59% of 99 companies
in the Medical Distribution industry
Industry Median: 2.48 vs SZSE:000028: 3.61

China National Accord Medicines Return-on-Tangible-Asset Historical Data

The historical data trend for China National Accord Medicines's Return-on-Tangible-Asset can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

China National Accord Medicines Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Return-on-Tangible-Asset
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.20 4.08 3.54 3.79 3.83

China National Accord Medicines Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Return-on-Tangible-Asset Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.22 3.46 4.12 3.06 3.58

Competitive Comparison

For the Medical Distribution subindustry, China National Accord Medicines's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


China National Accord Medicines Return-on-Tangible-Asset Distribution

For the Medical Distribution industry and Healthcare sector, China National Accord Medicines's Return-on-Tangible-Asset distribution charts can be found below:

* The bar in red indicates where China National Accord Medicines's Return-on-Tangible-Asset falls into.



China National Accord Medicines Return-on-Tangible-Asset Calculation

China National Accord Medicines's annualized Return-on-Tangible-Asset for the fiscal year that ended in Dec. 2023 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(A: Dec. 2023 )  (A: Dec. 2022 )(A: Dec. 2023 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(A: Dec. 2023 )  (A: Dec. 2022 )(A: Dec. 2023 )
=1599.256/( (39218.334+44208.823)/ 2 )
=1599.256/41713.5785
=3.83 %

China National Accord Medicines's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(Q: Dec. 2023 )  (Q: Sep. 2023 )(Q: Dec. 2023 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(Q: Dec. 2023 )  (Q: Sep. 2023 )(Q: Dec. 2023 )
=1638.368/( (47361.355+44208.823)/ 2 )
=1638.368/45785.089
=3.58 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is four times the quarterly (Dec. 2023) net income data.


China National Accord Medicines  (SZSE:000028) Return-on-Tangible-Asset Explanation

Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.


Be Aware

Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the company’s earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a company’s tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).

Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.


China National Accord Medicines Return-on-Tangible-Asset Related Terms

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China National Accord Medicines (SZSE:000028) Business Description

Traded in Other Exchanges
Address
No. 15, Ba Gua Si 4th Road, Accord Pharmaceutical Building, Futian District, Guangdong Province, Shenzhen, CHN, 518029
China National Accord Medicines Corp Ltd develops and manufactures pharmaceuticals in China. The company engaged in the wholesale of Chinese patent drugs, traditional Chinese medicines, chemical medicine preparations, antibiotics, biochemical drugs and cerebrovascular system drugs. It operates through the following segments: The Head office segment engages in investing and managing the business; The Pharmaceutical Distribution segment engages in the distribution of medicine and pharmaceutical products to customers, including hospitals, other distributors, retail drug stores, and clinics, and Retail pharmacy segment, which is managing the operation of Guoda Pharmacy. It generates maximum revenue from the Pharmaceutical Distribution segment.

China National Accord Medicines (SZSE:000028) Headlines

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