What Sanwei Holding Group Co.,Ltd's (SHSE:603033) ROE Can Tell Us
What Sanwei Holding Group Co.,Ltd's (SHSE:603033) ROE Can Tell Us
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 Sanwei Holding Group Co.,Ltd (SHSE:603033), 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。我们将使用投资回报率来审查三威控股集团有限公司。,Ltd(上海证券交易所股票代码:603033),举一个有效的例子。
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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
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,它衡量公司相对于股东权益的盈利能力。
Check out our latest analysis for Sanwei Holding GroupLtd
查看我们对三威控股集团有限公司的最新分析
How Is ROE Calculated?
投资回报率是如何计算的?
Return on equity can be calculated by using the formula:
股本回报率可以使用以下公式计算:
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 Sanwei Holding GroupLtd is:
因此,根据上述公式,三威控股集团有限公司的投资回报率为:
7.7% = CN¥276m ÷ CN¥3.6b (Based on the trailing twelve months to September 2023).
7.7% = 2.76亿元人民币 ÷ 36亿元人民币(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¥0.08 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0.08元人民币的利润。
Does Sanwei Holding GroupLtd Have A Good ROE?
三威控股集团有限公司的投资回报率是否良好?
By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. You can see in the graphic below that Sanwei Holding GroupLtd has an ROE that is fairly close to the average for the Chemicals industry (6.8%).
通过将公司的投资回报率与其行业平均水平进行比较,我们可以快速衡量其表现如何。这种方法的局限性在于,有些公司与其他公司有很大不同,即使在相同的行业分类中也是如此。你可以在下图中看到,三威控股集团有限公司的投资回报率与化工行业的平均水平(6.8%)相当接近。
That isn't amazing, but it is respectable. Even if the ROE is respectable when compared to the industry, its worth checking if the firm's ROE is being aided by high debt levels. If true, then it is more an indication of risk than the potential. You can see the 2 risks we have identified for Sanwei Holding GroupLtd by visiting our risks dashboard for free on our platform here.
这并不奇怪,但值得尊敬。即使与行业相比,投资回报率可观,也值得检查一下公司的投资回报率是否受到高额债务水平的支撑。如果属实,则与其说是潜在风险,不如说是风险。您可以访问我们的 2 种风险来查看我们为三威控股集团有限公司确定的两种风险 风险仪表板 在我们的平台上免费使用。
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
Companies usually need to invest money to grow their profits. That cash can come from retained earnings, issuing new shares (equity), or debt. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the use of debt will improve the returns, but will not change the equity. That will make the ROE look better than if no debt was used.
公司通常需要投资资金来增加利润。这些现金可以来自留存收益、发行新股(股权)或债务。在前两个案例中,投资回报率将涵盖这种资本用于增长的用途。在后一种情况下,使用债务将提高回报,但不会改变股权。这将使投资回报率看起来比不使用债务时更好。
Combining Sanwei Holding GroupLtd's Debt And Its 7.7% Return On Equity
合并三威控股集团有限公司的债务及其7.7%的股本回报率
Sanwei Holding GroupLtd does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.37. Its ROE is quite low, even with the use of significant debt; that's not a good result, in our opinion. 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.
三威控股集团有限公司确实使用大量债务来增加回报。它的负债权益比率为1.37。即使使用了巨额债务,其投资回报率也相当低;在我们看来,这不是一个好结果。投资者应该仔细考虑如果一家公司无法如此轻易地借款,其表现会如何,因为信贷市场确实会随着时间的推移而发生变化。
Conclusion
结论
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. A company that can achieve a high return on equity without debt could be considered a high quality business. If two companies have the same ROE, then I would generally prefer the one with less debt.
股本回报率是衡量企业创造利润并将其返还给股东的能力的有用指标。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视为高质量的企业。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 ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So I think it may be worth checking this free report on analyst forecasts for the company.
但是投资回报率只是更大难题的一部分,因为高质量的企业通常以高倍的收益进行交易。重要的是要考虑其他因素,例如未来的利润增长以及未来需要多少投资。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。
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.
如果你更愿意去另一家公司——一家财务状况可能优越的公司——那么千万不要错过这份免费的股本回报率高、债务低的有趣公司的名单。
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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。