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Can Nanjing Red Sun Co.,Ltd. (SZSE:000525) Maintain Its Strong Returns?

Can Nanjing Red Sun Co.,Ltd. (SZSE:000525) Maintain Its Strong Returns?

能不能南京红太阳有限公司, Ltd.(深交所股票代码:000525)保持强劲的回报?
Simply Wall St ·  2023/10/27 19:54

One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. We'll use ROE to examine Nanjing Red Sun Co.,Ltd. (SZSE:000525), by way of a worked example.

我们能做的最好的投资之一就是我们自己的知识和技能。考虑到这一点,本文将讨论如何使用股本回报率(ROE)来更好地了解企业。我们将使用净资产收益率来检验南京红太阳股份有限公司(SZSE:000525),作为一个实例。

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

股本回报率(ROE)是对一家公司增值和管理投资者资金的效率的测试。换句话说,这是一个衡量公司股东提供的资本回报率的盈利比率。

Check out our latest analysis for Nanjing Red SunLtd

查看我们对南京红太阳股份有限公司的最新分析

How Do You Calculate Return On Equity?

你如何计算股本回报率?

The formula for return on equity is:

这个股本回报率公式是:

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 Nanjing Red SunLtd is:

因此,根据上述公式,南京红日股份有限公司的净资产收益率为:

9.4% = CN¥134m ÷ CN¥1.4b (Based on the trailing twelve months to June 2023).

9.4%=1.34亿元×14亿元(基于截至2023年6月的12个月)。

The 'return' refers to a company's earnings over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.09.

“回报”指的是一家公司过去一年的收益。因此,这意味着股东每投资1元人民币,公司就会产生0.09元的利润。

Does Nanjing Red SunLtd Have A Good Return On Equity?

南京红太阳股份有限公司的股本回报率高吗?

Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. As is clear from the image below, Nanjing Red SunLtd has a better ROE than the average (7.2%) in the Chemicals industry.

可以说,评估公司净资产收益率最简单的方法是将其与所在行业的平均水平进行比较。这种方法的局限性是,一些公司与其他公司有很大的不同,甚至在相同的行业分类中也是如此。从下图可以清楚地看出,南京红太阳股份有限公司的净资产收益率(ROE)高于化工行业的平均水平(7.2%)。

roe
SZSE:000525 Return on Equity October 27th 2023
深圳证券交易所:000525股本回报率2023年10月27日

That is a good sign. However, bear in mind that a high ROE doesn't necessarily indicate efficient profit generation. A higher proportion of debt in a company's capital structure may also result in a high ROE, where the high debt levels could be a huge risk . To know the 2 risks we have identified for Nanjing Red SunLtd visit our risks dashboard for free.

这是一个好兆头。然而,请记住,高净资产收益率并不一定意味着有效的利润创造。债务在公司资本结构中的比例较高也可能导致较高的净资产收益率,而较高的债务水平可能是一个巨大的风险。要了解我们为南京红太阳股份有限公司确定的两个风险,请免费访问我们的风险仪表板。

The Importance Of Debt To Return On Equity

债务对股本回报率的重要性

Most companies need money -- from somewhere -- to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the case of the first and second options, the ROE will reflect this use of cash, for growth. In the latter case, the debt required for growth will boost returns, but will not impact the shareholders' equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.

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。在第一种和第二种选择的情况下,净资产收益率将反映现金用于增长的这种情况。在后一种情况下,增长所需的债务将提高回报,但不会影响股东权益。因此,债务的使用可以提高净资产收益率,尽管打个比方说,在暴风雨天气的情况下会有额外的风险。

Combining Nanjing Red SunLtd's Debt And Its 9.4% Return On Equity

结合南京红太阳股份有限公司的债务及其9.4%的股本回报率

We think Nanjing Red SunLtd uses a significant amount of debt to maximize its returns, as it has a significantly higher debt to equity ratio of 3.00. The combination of a rather low ROE and high debt to equity is a negative, in our book.

我们认为南京红太阳股份有限公司使用了大量的债务来最大化其回报,因为它的债务与股本比率明显更高,为3.00。在我们的书中,相当低的净资产收益率和高的债务股本比率的组合是负面的。

Conclusion

结论

Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. Companies that can achieve high returns on equity without too much debt are generally of good quality. All else being equal, a higher ROE is better.

股本回报率是衡量一家企业产生利润并将其返还给股东的能力的有用指标。能够在没有太多债务的情况下实现高股本回报率的公司通常质量良好。在其他条件相同的情况下,净资产收益率越高越好。

But when a business is high quality, the market often bids it up to a price that reflects this. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. You can see how the company has grow in the past by looking at this FREE detailed graph of past earnings, revenue and cash flow.

但当一项业务是高质量的时,市场往往会将其抬高到反映这一点的价格。相对于股价反映的预期,利润增长率是一个特别重要的考虑因素。你可以通过查看这篇免费的文章来了解该公司过去是如何发展壮大的详细图表过去的收益、收入和现金流。

If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

如果你更愿意看看另一家公司--一家财务状况可能更好的公司--那么不要错过这一点免费列出了一些有趣的公司,这些公司拥有高股本回报率和低债务。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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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。

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