How Good Is Lead Real Estate Co., Ltd (NASDAQ:LRE), When It Comes To ROE?
How Good Is Lead Real Estate Co., Ltd (NASDAQ:LRE), When It Comes To 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. To keep the lesson grounded in practicality, we'll use ROE to better understand Lead Real Estate Co., Ltd (NASDAQ:LRE).
虽然一些投资者已经精通财务指标（致敬），但本文是为那些想了解权益回报率（ROE）及其重要性的人而写。为了使课程更加贴近实际业务，我们将利用ROE来更好地了解主要房地产有限公司（纳斯达克：LRE）。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股本回报率或roe是评估公司管理层如何有效利用公司资本的关键指标。简而言之，ROE显示每美元股东投资所产生的利润。
How To Calculate Return On Equity?
如何计算股东权益报酬率？
Return on equity can be calculated by using the formula:
股东权益报酬率可以使用以下公式计算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润（从持续经营中获得）÷ 股东权益
So, based on the above formula, the ROE for Lead Real Estate is:
因此，根据上述公式，Lead Real Estate的ROE为：
12% = JP¥463m ÷ JP¥3.7b (Based on the trailing twelve months to December 2023).
12% = JP¥463m ÷ JP¥3.7b（根据截至2023年12月的最近十二个月计算）。
The 'return' is the amount earned after tax over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.12 in profit.
“回报”是指过去十二个月税后所赚取的金额。这意味着对于每美元股东权益，公司创造了0.12美元的利润。
Does Lead Real Estate Have A Good ROE?
Lead Real Estate的ROE好吗？
By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. The image below shows that Lead Real Estate has an ROE that is roughly in line with the Consumer Durables industry average (15%).
通过将公司的ROE与其行业平均值进行比较，我们可以快速衡量其优劣。但这并不是完美的衡量指标，因为即使在同一行业分类中，公司也有很大的差异。下图显示Lead Real Estate的ROE与消费品耐用品行业平均值（15%）大致相当。
That isn't amazing, but it is respectable. While at least the ROE is not lower than the industry, its still worth checking what role the company's debt plays as high debt levels relative to equity may also make the ROE appear high. If true, then it is more an indication of risk than the potential. Our risks dashboardshould have the 4 risks we have identified for Lead Real Estate.
虽然不算惊人，但是也值得尊敬。虽然ROE至少不低于行业平均水平，但仍值得检查公司的债务扮演了什么角色，因为高债务水平与权益相比可能会使ROE显得高。如果是真的，那么这更多是风险的指示而不是潜力。我们的风险控制面板应该显示了我们为Lead Real Estate确定的四个风险。
The Importance Of Debt To Return On Equity
债务对股本回报率的重要性
Companies usually need to invest money 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 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.
公司通常需要投资以增加利润。资金可以来自发行股票、保留收益或债务。在前两种情况下，ROE将反映这种用于投资业务的现金使用情况。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ROE看起来比不使用债务要好。
Combining Lead Real Estate's Debt And Its 12% Return On Equity
结合主要房地产的债务和其12％的ROE
We think Lead Real Estate uses a significant amount of debt to maximize its returns, as it has a significantly higher debt to equity ratio of 3.25. Its ROE is decent, but once I consider all the debt, I'm not really impressed.
我们认为主要房地产使用大量债务来最大化其回报率，因为其负债股本比率明显更高，达到3.25。其ROE不错，但一旦我考虑所有的债务，我并不是真的印象深刻。
Summary
总的来说，我们对伟明环保的表现非常满意。具体而言，我们喜欢公司以高回报率再投资了其利润的很大一部分。当然，这导致公司的收益大幅增长。但是，最新的行业分析师预测表明，该公司的收益预计将加速增长。
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质量时很有用。一家可以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公司。其他条件相同，股本回报率越高，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 I think it may be worth checking this free this detailed graph of past earnings, revenue and cash flow.
话虽如此，尽管ROE是一项有用的业务质量指标，您仍需要考虑一整套因素来确定购买股票的正确价格。值得注意的是其他因素，例如未来的利润增长以及未来需要多少投资。因此，我认为值得查看这份免费的收入、营收和现金流详细图表。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
当然，您也可能通过寻找其他地方来找到出色的投资。因此，不妨查看这个有趣公司的免费列表。
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这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论，只使用公正的方法论，我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议，也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意，我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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