Should You Be Concerned About Rayitek Hi-Tech Film Company Ltd., Shenzhen's (SHSE:688323) ROE?
Should You Be Concerned About Rayitek Hi-Tech Film Company Ltd., Shenzhen's (SHSE:688323) 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. By way of learning-by-doing, we'll look at ROE to gain a better understanding of Rayitek Hi-Tech Film Company Ltd., Shenzhen (SHSE:688323).
雖然一些投資者已經非常精通財務指標(帽子提示)，但本文面向的是那些想要了解股本回報率(ROE)及其重要性的人。通過邊做邊學的方式，我們將看到淨資產收益率，以更好地瞭解深圳瑞泰克高科技影業有限公司(上海證券交易所股票代碼：688323)。
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.
淨資產收益率，即股本回報率，是評估一家公司從股東那裡獲得投資回報的有效程度的有用工具。簡而言之，它是用來評估一家公司相對於其權益資本的盈利能力。
Check out our latest analysis for Rayitek Hi-Tech Film Company Shenzhen
查看我們對深圳瑞泰克高科技電影公司的最新分析
How Is ROE Calculated?
淨資產收益率是如何計算的？
ROE can be calculated by using the formula:
可使用以下公式計算淨資產收益率：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率=(持續經營的)淨利潤？股東權益
So, based on the above formula, the ROE for Rayitek Hi-Tech Film Company Shenzhen is:
因此，根據上述公式，深圳瑞特克高科技電影公司的淨資產收益率為：
1.9% = CN¥19m ÷ CN¥1.0b (Based on the trailing twelve months to March 2023).
1.9%=CN元1900萬×CN元10億元(以截至2023年3月的12個月為基礎)。
The 'return' is the income the business earned over the last year. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.02 in profit.
“回報”指的是企業在過去一年中獲得的收入。另一種說法是，公司每持有價值1元的股權，就能賺取0.02元的利潤。
Does Rayitek Hi-Tech Film Company Shenzhen Have A Good Return On Equity?
深圳瑞泰克高科技影業公司的股本回報率高嗎？
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. As shown in the graphic below, Rayitek Hi-Tech Film Company Shenzhen has a lower ROE than the average (8.3%) in the Chemicals industry classification.
確定一家公司是否擁有良好的股本回報率的一個簡單方法是將其與所在行業的平均水準進行比較。重要的是，這遠遠不是一個完美的衡量標準，因為在同一行業分類中，公司的差異很大。如下圖所示，深圳瑞泰克高科技電影公司的淨資產收益率(ROE)低於化工行業平均水準(8.3%)。
That certainly isn't ideal. However, a low ROE is not always bad. If the company's debt levels are moderate to low, then there's still a chance that returns can be improved via the use of financial leverage. A company with high debt levels and low ROE is a combination we like to avoid given the risk involved. Our risks dashboard should have the 3 risks we have identified for Rayitek Hi-Tech Film Company Shenzhen.
這當然不是理想的情況。然而，較低的淨資產收益率並不總是壞事。如果公司的債務水準處於中低水準，那麼仍有機會通過使用財務槓桿來提高回報。考慮到涉及的風險，高債務水準和低ROE的公司是我們希望避免的組合。我們的風險儀錶板應該包含我們為深圳瑞泰克高科技電影公司確定的3個風險。
Why You Should Consider Debt When Looking At ROE
為什麼在考慮淨資產收益率時應該考慮債務
Most companies need money -- from somewhere -- to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the first two cases, the ROE will capture this use of capital to grow. 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.
大多數公司都需要資金--從某個地方--來增加利潤。這些現金可以來自發行股票、留存收益或債務。在前兩種情況下，淨資產收益率將抓住這種資本增長的用途。在後一種情況下，用於增長的債務將提高回報，但不會影響總股本。這將使淨資產收益率看起來比不使用債務的情況下更好。
Rayitek Hi-Tech Film Company Shenzhen's Debt And Its 1.9% ROE
深圳瑞泰克高科技電影公司的債務及其1.9%的淨資產收益率
Rayitek Hi-Tech Film Company Shenzhen clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 1.06. With a fairly low ROE, and significant use of debt, it's hard to get excited about this business at the moment. 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.
深圳瑞泰克高科技電影公司顯然使用了高水平的債務來提高回報，因為它的債務與股本比率為1.06。由於淨資產收益率(ROE)相當低，而且大量使用債務，目前很難對這項業務感到興奮。投資者應該仔細考慮，如果一家公司不能如此輕鬆地借款，它可能會表現如何，因為信貸市場確實會隨著時間的推移而變化。
Summary
摘要
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.
股本回報率在比較不同企業的質量時很有用。一家能夠在沒有債務的情況下實現高股本回報率的公司可以被認為是一家高質量的企業。在其他條件相同的情況下，淨資產收益率越高越好。
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 you might want to check this FREE visualization of analyst forecasts for the company.
話雖如此，雖然淨資產收益率是衡量業務質量的有用指標，但你必須考慮一系列因素，才能確定購買股票的合適價格。重要的是要考慮其他因素，比如未來的利潤增長，以及未來需要多少投資。因此，你可能想查看分析師對該公司預測的免費可視化。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
當然了,如果你把目光投向別處，你可能會發現這是一筆很棒的投資。所以讓我們來看看這個免費有趣的公司名單。
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本文由Simply Wall St.撰寫，具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論，我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議，也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意，我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。