Morgan Stanley China A Share Fund
Financial ratios & Valuation

Historical Multiples (2015 – 2023)

2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
9.41-8.962.77-3.635.387.90-32.98-2.34-6.04-10.076.64
Price/Sales ratio
1.98-24.482.75-3.675.317.73-36.42-2.36-6.18-2.436.52
Price/Book Value ratio
0.840.810.840.850.880.880.880.830.850.860.88
Price/Cash Flow ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Price/Free Cash Flow ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Price/Earnings Growth ratio
N/A0.04-0.000.02-0.02-0.250.27-0.000.09-0.10-0.14
Dividend Yield
N/AN/AN/AN/AN/AN/AN/AN/AN/A2.61%N/A
Profitability Indicator Ratios
Gross Profit Margin
93.59%153.42%94.98%109.10%90.02%85.30%175.40%105.30%112.67%105.21%99.56%
Operating Profit Margin
21.97%263.95%99.24%101.21%98.58%97.88%110.43%100.89%103.20%24.31%98.23%
Pretax Profit Margin
21.10%273.23%99.24%101.21%98.58%97.88%110.43%100.89%102.31%24.06%98.23%
Net Profit Margin
21.10%273.23%99.24%101.21%98.58%97.88%110.43%100.89%102.31%24.06%98.23%
Effective Tax Rate
N/AN/A0.42%0.14%-0.74%1.69%-0.17%3.07%N/A33.64%-0.29%
Return on Assets
8.97%-9.08%30.40%-23.44%16.36%11.15%-2.66%-35.42%-14.14%-8.51%13.75%
Return On Equity
9.00%-9.12%30.47%-23.52%16.39%11.17%-2.67%-35.49%-14.16%-7.48%13.78%
Return on Capital Employed
9.33%-8.77%30.43%-23.48%16.38%11.16%-2.66%-35.42%-14.26%-8.60%13.77%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Quick Ratio
N/AN/A0.01-18.92-5.363.21N/AN/AN/AN/A-12.14
Cash ratio
N/AN/A10.910.140.773.21N/AN/AN/AN/A1.99
Days of Sales Outstanding
0.02-22.690.02-0.120.02N/AN/A-0.01-0.07-0.030.01
Days of Inventory outstanding
N/AN/AN/A448.98169.31N/AN/A101.14N/AN/A84.65
Operating Cycle
0.02-22.690.02448.86169.33N/AN/A101.12-0.07-0.0384.66
Days of Payables Outstanding
N/AN/A30.0423.4727.5529.41N/AN/AN/AN/A28.48
Cash Conversion Cycle
0.02-22.69-30.02425.38141.78-29.41N/A101.12-0.07-0.0356.18
Debt Ratios
Debt Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Debt Equity Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Long-term Debt to Capitalization
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Total Debt to Capitalization
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Cash Flow to Debt Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Company Equity Multiplier
1.001.001.001.001.001.001.001.001.001.001.00
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Free Cash Flow / Operating Cash Flow Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Cash Flow Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Short Term Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Dividend Payout Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A