Should You Be Concerned About Rayitek Hi-Tech Film Company Ltd., Shenzhen's (SHSE:688323) ROE?
Should You Be Concerned About Rayitek Hi-Tech Film Company Ltd., Shenzhen's (SHSE:688323) ROE?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. By way of learning-by-doing, we'll look at ROE to gain a better understanding of Rayitek Hi-Tech Film Company Ltd., Shenzhen (SHSE:688323).
虽然一些投资者已经非常精通财务指标(帽子提示)，但本文面向的是那些想要了解股本回报率(ROE)及其重要性的人。通过边做边学的方式，我们将看到净资产收益率，以更好地了解深圳瑞泰克高科技影业有限公司(上海证券交易所股票代码：688323)。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
净资产收益率，即股本回报率，是评估一家公司从股东那里获得投资回报的有效程度的有用工具。简而言之，它是用来评估一家公司相对于其权益资本的盈利能力。
Check out our latest analysis for Rayitek Hi-Tech Film Company Shenzhen
查看我们对深圳瑞泰克高科技电影公司的最新分析
How Is ROE Calculated?
净资产收益率是如何计算的？
ROE can be calculated by using the formula:
可使用以下公式计算净资产收益率：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润？股东权益
So, based on the above formula, the ROE for Rayitek Hi-Tech Film Company Shenzhen is:
因此，根据上述公式，深圳瑞特克高科技电影公司的净资产收益率为：
1.9% = CN¥19m ÷ CN¥1.0b (Based on the trailing twelve months to March 2023).
1.9%=CN元1900万×CN元10亿元(以截至2023年3月的12个月为基础)。
The 'return' is the income the business earned over the last year. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.02 in profit.
“回报”指的是企业在过去一年中获得的收入。另一种说法是，公司每持有价值1元的股权，就能赚取0.02元的利润。
Does Rayitek Hi-Tech Film Company Shenzhen Have A Good Return On Equity?
深圳瑞泰克高科技影业公司的股本回报率高吗？
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. As shown in the graphic below, Rayitek Hi-Tech Film Company Shenzhen has a lower ROE than the average (8.3%) in the Chemicals industry classification.
确定一家公司是否拥有良好的股本回报率的一个简单方法是将其与所在行业的平均水平进行比较。重要的是，这远远不是一个完美的衡量标准，因为在同一行业分类中，公司的差异很大。如下图所示，深圳瑞泰克高科技电影公司的净资产收益率(ROE)低于化工行业平均水平(8.3%)。
That certainly isn't ideal. However, a low ROE is not always bad. If the company's debt levels are moderate to low, then there's still a chance that returns can be improved via the use of financial leverage. A company with high debt levels and low ROE is a combination we like to avoid given the risk involved. Our risks dashboard should have the 3 risks we have identified for Rayitek Hi-Tech Film Company Shenzhen.
这当然不是理想的情况。然而，较低的净资产收益率并不总是坏事。如果公司的债务水平处于中低水平，那么仍有机会通过使用财务杠杆来提高回报。考虑到涉及的风险，高债务水平和低ROE的公司是我们希望避免的组合。我们的风险仪表板应该包含我们为深圳瑞泰克高科技电影公司确定的3个风险。
Why You Should Consider Debt When Looking At ROE
为什么在考虑净资产收益率时应该考虑债务
Most companies need money -- from somewhere -- to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the debt used for growth will improve returns, but won't affect the total equity. That will make the ROE look better than if no debt was used.
大多数公司都需要资金--从某个地方--来增加利润。这些现金可以来自发行股票、留存收益或债务。在前两种情况下，净资产收益率将抓住这种资本增长的用途。在后一种情况下，用于增长的债务将提高回报，但不会影响总股本。这将使净资产收益率看起来比不使用债务的情况下更好。
Rayitek Hi-Tech Film Company Shenzhen's Debt And Its 1.9% ROE
深圳瑞泰克高科技电影公司的债务及其1.9%的净资产收益率
Rayitek Hi-Tech Film Company Shenzhen clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 1.06. With a fairly low ROE, and significant use of debt, it's hard to get excited about this business at the moment. Investors should think carefully about how a company might perform if it was unable to borrow so easily, because credit markets do change over time.
深圳瑞泰克高科技电影公司显然使用了高水平的债务来提高回报，因为它的债务与股本比率为1.06。由于净资产收益率(ROE)相当低，而且大量使用债务，目前很难对这项业务感到兴奋。投资者应该仔细考虑，如果一家公司不能如此轻松地借款，它可能会表现如何，因为信贷市场确实会随着时间的推移而变化。
Summary
摘要
Return on equity is useful for comparing the quality of different businesses. A company that can achieve a high return on equity without debt could be considered a high quality business. All else being equal, a higher ROE is better.
股本回报率在比较不同企业的质量时很有用。一家能够在没有债务的情况下实现高股本回报率的公司可以被认为是一家高质量的企业。在其他条件相同的情况下，净资产收益率越高越好。
Having said that, while ROE is a useful indicator of business quality, you'll have to look at a whole range of factors to determine the right price to buy a stock. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So you might want to check this FREE visualization of analyst forecasts for the company.
话虽如此，虽然净资产收益率是衡量业务质量的有用指标，但你必须考虑一系列因素，才能确定购买股票的合适价格。重要的是要考虑其他因素，比如未来的利润增长，以及未来需要多少投资。因此，你可能想查看分析师对该公司预测的免费可视化。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
当然了,如果你把目光投向别处，你可能会发现这是一笔很棒的投资。所以让我们来看看这个免费有趣的公司名单。
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本文由Simply Wall St.撰写，具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论，我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议，也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意，我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。