Why China Coal Xinji Energy Co.,Ltd (SHSE:601918) Looks Like A Quality Company
Why China Coal Xinji Energy Co.,Ltd (SHSE:601918) Looks Like A Quality Company
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity 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. By way of learning-by-doing, we'll look at ROE to gain a better understanding of China Coal Xinji Energy Co.,Ltd (SHSE:601918).
我们能做的最好的投资之一是我们自己的知识和技能。考虑到这一点，本文将探讨如何使用股本回报率（ROE）来更好地了解业务。通过边干边学的方式，我们将研究投资回报率，以更好地了解中煤新集能源有限公司。, Ltd（上海证券交易所代码：601918）。
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中获得回报的有用工具。简而言之，它用于评估公司相对于其股权资本的盈利能力。
How Is ROE Calculated?
ROE 是如何计算的？
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）÷ 股东权益
So, based on the above formula, the ROE for China Coal Xinji EnergyLtd is:
因此，根据上述公式，中煤新集能源有限公司的投资回报率为：
14% = CN¥2.3b ÷ CN¥17b (Based on the trailing twelve months to September 2024).
14% = 23元人民币 ÷ 170元人民币（基于截至2024年9月的过去十二个月）。
The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.14 in profit.
“回报” 是过去十二个月的利润。对此进行概念化的一种方法是，该公司每拥有1元人民币的股本即可获得0.14元人民币的利润。
Does China Coal Xinji EnergyLtd Have A Good ROE?
中煤新集能源有限公司的投资回报率是否良好？
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. Pleasingly, China Coal Xinji EnergyLtd has a superior ROE than the average (9.3%) in the Oil and Gas industry.
确定公司股本回报率是否不错的一种简单方法是将其与该行业的平均水平进行比较。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。令人高兴的是，中煤新集能源有限公司的投资回报率高于石油和天然气行业的平均水平（9.3％）。
That's clearly a positive. With that said, a high ROE doesn't always indicate high profitability. Especially when a firm uses high levels of debt to finance its debt which may boost its ROE but the high leverage puts the company at risk. You can see the 3 risks we have identified for China Coal Xinji EnergyLtd by visiting our risks dashboard for free on our platform here.
这显然是积极的。话虽如此，高投资回报率并不总是表示高盈利能力。尤其是当一家公司使用高额债务为其债务融资时，这可能会提高其投资回报率，但高杠杆率会使公司面临风险。您可以通过我们的平台免费访问我们的风险控制面板，查看我们为中煤新集能源有限公司确定的三种风险。
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 first and second cases, the ROE will reflect this use of cash for investment in the business. 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.
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这种用途。在后一种情况下，债务的使用将提高回报，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。
China Coal Xinji EnergyLtd's Debt And Its 14% ROE
中煤新集能源有限公司的债务及其14％的投资回报率
China Coal Xinji EnergyLtd does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.09. There's no doubt its ROE is decent, but the very high debt the company carries is not too exciting to see. 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.
中煤新集能源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1.09。毫无疑问，其投资回报率不错，但该公司背负的巨额债务并不令人兴奋。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. 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.
股本回报率是衡量企业创造利润并将其返还给股东的能力的有用指标。在我们的账簿中，尽管债务很低，但质量最高的公司的股本回报率却很高。如果两家公司的投资回报率相同，那么我通常更喜欢负债较少的公司。
But when a business is high quality, the market often bids it up to a price that reflects this. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So you might want to check this FREE visualization of 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。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，您可能需要查看该公司的分析师预测的免费可视化效果。
Of course China Coal Xinji EnergyLtd 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，中煤新集能源有限公司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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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。
