Should Shenzhen Everwin Precision Technology Co., Ltd. (SZSE:300115) Focus On Improving This Fundamental Metric?
Should Shenzhen Everwin Precision Technology Co., Ltd. (SZSE:300115) Focus On Improving This Fundamental Metric?
Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for those who would like to learn about Return On Equity (ROE). We'll use ROE to examine Shenzhen Everwin Precision Technology Co., Ltd. (SZSE:300115), by way of a worked example.
许多投资者仍在学习分析股票时可能有用的各种指标。本文适用于那些想了解股本回报率（ROE）的人。我们将以投资回报率为例，考察深圳长盈精密技术有限公司（深圳证券交易所代码：300115）。
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.
ROE或股本回报率是评估公司如何有效地从股东那里获得的投资回报的有用工具。简而言之，它用于评估公司相对于其股权资本的盈利能力。
View our latest analysis for Shenzhen Everwin Precision Technology
查看我们对深圳长盈精密科技的最新分析
How To Calculate Return On Equity?
如何计算股本回报率？
The formula for ROE is:
投资回报率的公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润（来自持续经营）÷ 股东权益
So, based on the above formula, the ROE for Shenzhen Everwin Precision Technology is:
因此，根据上述公式，深圳长盈精密科技的投资回报率为：
3.7% = CN¥221m ÷ CN¥6.0b (Based on the trailing twelve months to September 2023).
3.7% = 2.21亿元人民币 ÷ 60亿元人民币（基于截至2023年9月的过去十二个月）。
The 'return' refers to a company's earnings over the last year. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.04 in profit.
“回报” 是指公司去年的收益。这意味着，每持有价值1元人民币的股权，公司就会产生0.04元人民币的利润。
Does Shenzhen Everwin Precision Technology Have A Good ROE?
深圳长盈精密科技有良好的投资回报率吗？
Arguably the easiest way to assess company's ROE is to compare it with the average in 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, Shenzhen Everwin Precision Technology has a lower ROE than the average (6.7%) in the Electronic industry classification.
可以说，评估公司投资回报率的最简单方法是将其与行业平均水平进行比较。重要的是，这远非一个完美的衡量标准，因为各公司在相同的行业分类中差异很大。如下图所示，深圳长盈精密科技的投资回报率低于电子行业分类中的平均水平（6.7％）。
Unfortunately, that's sub-optimal. That being said, a low ROE is not always a bad thing, especially if the company has low leverage as this still leaves room for improvement if the company were to take on more debt. A high debt company having a low ROE is a different story altogether and a risky investment in our books. To know the 3 risks we have identified for Shenzhen Everwin Precision Technology visit our risks dashboard for free.
不幸的是，这并不理想。话虽如此，低投资回报率并不总是一件坏事，尤其是在公司的杠杆率低的情况下，因为如果公司承担更多债务，这仍有改进的余地。投资回报率低的高负债公司完全是另一回事，对我们的账面来说也是一项风险投资。要了解我们为深圳长盈精密科技确定的三种风险，请免费访问我们的风险仪表板。
Why You Should Consider Debt When Looking At ROE
为什么在考虑投资回报率时应该考虑债务
Most companies need money -- from somewhere -- to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the first and second cases, the ROE will reflect this use of cash for investment in the business. In the latter case, the debt required for growth will boost returns, but will not impact the shareholders' equity. That will make the ROE look better than if no debt was used.
大多数公司需要来自某个地方的资金来增加利润。这些现金可以来自发行股票、留存收益或债务。在第一和第二种情况下，投资回报率将反映现金用于企业投资的情况。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。这将使投资回报率看起来比不使用债务时更好。
Shenzhen Everwin Precision Technology's Debt And Its 3.7% ROE
深圳长盈精密科技的债务及其3.7％的投资回报率
Shenzhen Everwin Precision Technology does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.31. The combination of a rather low ROE and significant use of debt is not particularly appealing. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.
深圳长盈精密科技确实使用大量债务来增加回报。它的负债权益比率为1.31。相当低的投资回报率和大量使用债务相结合并不是特别有吸引力。债务确实会带来额外的风险，因此只有当公司从中获得可观的回报时，债务才是真正值得的。
Conclusion
结论
Return on equity is one way we can compare its business quality of different companies. In our books, the highest quality companies have high return on equity, despite low debt. If two companies have the same ROE, then I would generally prefer the one with less debt.
股本回报率是我们比较不同公司业务质量的一种方式。在我们的书中，尽管债务较低，但质量最高的公司仍具有很高的股本回报率。如果两家公司的投资回报率相同，那么我通常更喜欢债务较少的公司。
But when a business is high quality, the market often bids it up to a price that reflects this. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So I think it may be worth checking this free report on analyst forecasts for the company.
但是，当企业质量很高时，市场通常会以反映这一点的价格出价。相对于当前价格所反映的利润增长预期，还必须考虑利润可能的增长速度。因此，我认为可能值得查看这份关于公司分析师预测的免费报告。
Of course Shenzhen Everwin Precision Technology may not be the best stock to buy. So you may wish to see this free collection of other companies that have high ROE and low debt.
当然，深圳长盈精密科技可能不是最好的买入股票。因此，您不妨免费查看其他投资回报率高、负债率低的公司的名单。
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Simply Wall St 的这篇文章本质上是笼统的。我们仅使用公正的方法提供基于历史数据和分析师预测的评论，我们的文章并非旨在提供财务建议。它不构成买入或卖出任何股票的建议，也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意，我们的分析可能不会考虑最新的价格敏感型公司公告或定性材料。华尔街只是没有持有上述任何股票的头寸。