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Lingbao Gold Group Company Ltd. (HKG:3330) Has A ROE Of 12%

Lingbao Gold Group Company Ltd. (HKG:3330) Has A ROE Of 12%

灵宝黄金集团有限公司(HKG:3330)的ROE为12%。
Simply Wall St ·  07/04 19:13

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). By way of learning-by-doing, we'll look at ROE to gain a better understanding of Lingbao Gold Group Company Ltd. (HKG:3330).

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。通过边干边学的方式,我们将研究投资回报率,以更好地了解灵宝黄金集团有限公司(HKG: 3330)。

Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Simply put, it is used to assess the profitability of a company in relation to its equity capital.

股本回报率或投资回报率是股东需要考虑的重要因素,因为它可以告诉他们资本再投资的有效性。简而言之,它用于评估公司相对于其股权资本的盈利能力。

How To Calculate Return On Equity?

如何计算股本回报率?

The formula for return on equity is:

股本回报率的公式是:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

股本回报率 = 净利润(来自持续经营业务)÷ 股东权益

So, based on the above formula, the ROE for Lingbao Gold Group is:

因此,根据上述公式,灵宝黄金集团的投资回报率为:

12% = CN¥294m ÷ CN¥2.4b (Based on the trailing twelve months to December 2023).

12% = 29400万元人民币 ÷ 24元人民币(基于截至2023年12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 HK$1 worth of shareholders' equity, the company generated HK$0.12 in profit.

“回报” 是指公司去年的收益。这意味着,每获得价值1港元的股东权益,该公司就会产生0.12港元的利润。

Does Lingbao Gold Group Have A Good ROE?

灵宝黄金集团的投资回报率好吗?

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. The image below shows that Lingbao Gold Group has an ROE that is roughly in line with the Metals and Mining industry average (10%).

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。下图显示,灵宝黄金集团的投资回报率与金属和采矿业的平均水平(10%)大致持平。

roe
SEHK:3330 Return on Equity July 4th 2024
SEHK: 3330 股本回报率 2024 年 7 月 4 日

So while the ROE is not exceptional, at least its acceptable. Although the ROE is similar to the industry, we should still perform further checks to see if the company's ROE is being boosted by high debt levels. If so, this increases its exposure to financial risk. Our risks dashboardshould have the 2 risks we have identified for Lingbao Gold Group.

因此,尽管投资回报率并不例外,但至少是可以接受的。尽管投资回报率与行业相似,但我们仍应进行进一步检查,看看高额债务水平是否提振了公司的投资回报率。如果是这样,这会增加其金融风险敞口。我们的风险仪表板应该包含我们为灵宝黄金集团确定的两种风险。

How Does Debt Impact ROE?

债务如何影响投资回报率?

Virtually all companies need money to invest in the business, to grow profits. That cash can come from retained earnings, issuing new shares (equity), 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.

几乎所有公司都需要资金来投资业务,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。

Combining Lingbao Gold Group's Debt And Its 12% Return On Equity

合并灵宝黄金集团的债务及其12%的股本回报率

It's worth noting the high use of debt by Lingbao Gold Group, leading to its debt to equity ratio of 1.17. Its ROE is quite low, even with the use of significant debt; that's not a good result, in our opinion. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.

值得注意的是,灵宝黄金集团大量使用债务,导致其负债权益比率为1.17。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。债务会增加风险,减少公司未来的选择,因此您通常希望从使用债务中获得丰厚的回报。

Summary

摘要

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. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.

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。能够在不负债过多的情况下获得高股本回报的公司通常质量很好。如果两家公司的债务与股权比率大致相同,而一家公司的投资回报率更高,那么我通常更喜欢投资回报率更高的那家公司。

But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. 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。利润增长率与股票价格所反映的预期相比,是一个特别重要的考虑因素。您可以通过查看这张免费的过去收益、收入和现金流详细图表来了解公司过去的增长情况。

Of course Lingbao Gold Group 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,灵宝黄金集团可能不是最值得买入的股票。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。

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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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根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。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,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

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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声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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