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Boasting A 44% Return On Equity, Is Jiangsu Aoyang Health Industry Co.ltd. (SZSE:002172) A Top Quality Stock?

Boasting A 44% Return On Equity, Is Jiangsu Aoyang Health Industry Co.ltd. (SZSE:002172) A Top Quality Stock?

以44%的股本回报率为傲,江苏澳洋健康产业有限公司(SZSE:002172)是否是一只优质股票?
Simply Wall St ·  2024/12/17 06:58

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). To keep the lesson grounded in practicality, we'll use ROE to better understand Jiangsu Aoyang Health Industry Co.ltd. (SZSE:002172).

许多投资者仍在学习分析股票时各种有用的指标。本文适合那些想要了解股东权益回报率(ROE)的人。为了使课堂内容更具实用性,我们将利用ROE来更好地理解江苏澳洋健康产业股份有限公司(SZSE:002172)。

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.

净资产回报率或ROE是用于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显示了每一美元在股东投资方面创造的利润。

How Is ROE Calculated?

净资产收益率怎么计算?

The formula for ROE is:

roe的公式是:

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

股东权益回报率 = 净利润(来自持续运营)÷ 股东权益

So, based on the above formula, the ROE for Jiangsu Aoyang Health Industryltd is:

基于上述公式,江苏澳洋健康产业有限公司的ROE为:

44% = CN¥50m ÷ CN¥114m (Based on the trailing twelve months to September 2024).

44% = CN¥5000万 ÷ CN¥11400万(基于截至2024年9月的过去十二个月的数据)。

The 'return' refers to a company's earnings over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.44.

“回报”指的是公司过去一年的盈利。这意味着每投资1元股东的资金,公司就产生0.44元的利润。

Does Jiangsu Aoyang Health Industryltd Have A Good ROE?

江苏澳洋健康产业有限公司的ROE好吗?

By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. As you can see in the graphic below, Jiangsu Aoyang Health Industryltd has a higher ROE than the average (6.2%) in the Chemicals industry.

通过将公司的ROE与行业平均水平进行比较,我们可以快速评估公司的表现。然而,这种方法只是粗略的检查,因为同一行业分类内的公司差异都非常大。如下面的图形所示,江苏澳洋健康产业有限公司的ROE高于化学品行业的平均水平(6.2%)。

big
SZSE:002172 Return on Equity December 16th 2024
深交所:002172 2024年12月16日的净利润率

That's what we like to see. With that said, a high ROE doesn't always indicate high profitability. A higher proportion of debt in a company's capital structure may also result in a high ROE, where the high debt levels could be a huge risk .

这正是我们想要看到的。尽管如此,较高的roe并不总是表明公司盈利能力强。公司资本结构中较高比例的债务也可能导致高roe,其中高债务水平可能是巨大的风险。

How Does Debt Impact Return On Equity?

债务如何影响净利润回报率?

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.

大多数公司需要资金——从某个地方——来增长他们的利润。现金可以通过发行股票、留存收益或债务来获取。在前两种情况下,ROE将反映现金用于投资业务的情况。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。这样,ROE看起来会比未使用债务时要好。

Jiangsu Aoyang Health Industryltd's Debt And Its 44% ROE

江苏澳洋健康有限公司的债务和其44%的ROE

We think Jiangsu Aoyang Health Industryltd uses a significant amount of debt to maximize its returns, as it has a significantly higher debt to equity ratio of 8.61. Its ROE is clearly quite good, but it seems to be boosted by the significant use of debt by the company.

我们认为江苏澳洋健康有限公司大量使用债务来最大化其收益,因为其债务与股本比率高达8.61。其ROE显然相当不错,但似乎受到公司大量使用债务的影响。

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.

净资产收益率是判断一个企业盈利能力及回报股东能力的有用指标。一家能够在没有债务的情况下实现高净资产收益率的公司可以被视为优质企业。如果两家公司的ROE相同,我通常会更偏好债务较少的那家公司。

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. 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.

但当一家企业是高质量时,市场通常会将其价格抬升到反映这一点的水平。考虑其他因素也很重要,例如未来利润增长和未来需要的投资量。你可以通过查看这张免费的详细历史收益、营业收入和现金流图表,来了解公司过去的增长情况。

But note: Jiangsu Aoyang Health Industryltd may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.

但请注意:江苏澳洋健康有限公司可能不是最佳的买入股票。因此,查看这份有趣公司的免费列表,它们拥有高ROE和低债务。

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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这篇来自Simply Wall St的文章是一般性的。我们根据历史数据和分析师预测提供评论,采用无偏见的方法,我们的文章并不旨在提供财务建议。它不构成对任何股票的买入或卖出建议,也未考虑到您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意,我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St在提到的任何股票中均没有持仓。

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