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Should You Be Concerned About Chongqing Shunbo Aluminum Co.,Ltd.'s (SZSE:002996) ROE?

Should You Be Concerned About Chongqing Shunbo Aluminum Co.,Ltd.'s (SZSE:002996) ROE?

你應該擔心重慶順博鋁業有限公司嗎, Ltd. 's (SZSE: 002996) 投資回報率?
Simply Wall St ·  01/19 15:02

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. We'll use ROE to examine Chongqing Shunbo Aluminum Co.,Ltd. (SZSE:002996), by way of a worked example.

我們能做的最好的投資之一是我們自己的知識和技能。考慮到這一點,本文將探討如何使用股本回報率(ROE)來更好地了解業務。我們將使用投資回報率來考察重慶順博鋁業有限公司。,Ltd.(深圳證券交易所:002996),舉一個很好的例子。

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.

股本回報率或投資回報率是股東需要考慮的重要因素,因爲它可以告訴他們資本再投資的有效性。簡而言之,它用於評估公司相對於其股權資本的盈利能力。

Check out our latest analysis for Chongqing Shunbo AluminumLtd

查看我們對重慶順博鋁業有限公司的最新分析

How Is ROE Calculated?

ROE 是如何計算的?

Return on equity can be calculated by using the formula:

股本回報率可以使用以下公式計算:

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

股本回報率 = 淨利潤(來自持續經營業務)÷ 股東權益

So, based on the above formula, the ROE for Chongqing Shunbo AluminumLtd is:

因此,根據上述公式,重慶順博鋁業有限公司的投資回報率爲:

1.6% = CN¥42m ÷ CN¥2.6b (Based on the trailing twelve months to September 2023).

1.6% = 4200萬元人民幣 ÷ 26億元人民幣(基於截至2023年9月的過去十二個月)。

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¥0.02.

“回報” 是指公司去年的收益。因此,這意味着公司每投資1元人民幣,公司就會產生0.02元人民幣的利潤。

Does Chongqing Shunbo AluminumLtd Have A Good ROE?

重慶順博鋁業有限公司的投資回報率是否良好?

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. If you look at the image below, you can see Chongqing Shunbo AluminumLtd has a lower ROE than the average (7.0%) in the Metals and Mining industry classification.

確定公司股本回報率是否不錯的一種簡單方法是將其與該行業的平均水平進行比較。這種方法的侷限性在於,有些公司與其他公司有很大不同,即使在相同的行業分類中也是如此。如果你看下圖,你可以看到重慶順博鋁業有限公司的投資回報率低於金屬和採礦行業分類的平均水平(7.0%)。

roe
SZSE:002996 Return on Equity January 19th 2024
SZSE: 002996 股本回報率 2024 年 1 月 19 日

That certainly isn't ideal. That being said, a low ROE is not always a bad thing, especially if the company has low leverage as this still leaves room for improvement if the company were to take on more debt. A company with high debt levels and low ROE is a combination we like to avoid given the risk involved. You can see the 3 risks we have identified for Chongqing Shunbo AluminumLtd by visiting our risks dashboard for free on our platform here.

這當然不理想。話雖如此,低投資回報率並不總是一件壞事,尤其是在公司的槓桿率低的情況下,因爲如果公司承擔更多債務,這仍有改進的餘地。鑑於所涉及的風險,高債務水平和低投資回報率的公司是我們希望避免的組合。您可以訪問我們的 3 種風險,查看我們爲重慶順博鋁業有限公司確定的三種風險 風險儀表板 在我們的平台上免費使用。

Why You Should Consider Debt When Looking At ROE

爲什麼在考慮投資回報率時應該考慮債務

Most companies need money -- from somewhere -- to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the case of the first and second options, the ROE will reflect this use of cash, for growth. In the latter case, the debt required for growth will boost returns, but will not impact the shareholders' equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.

大多數公司需要來自某個地方的資金來增加利潤。這些現金可以來自發行股票、留存收益或債務。就第一和第二種選擇而言,投資回報率將反映現金的使用情況,以實現增長。在後一種情況下,增長所需的債務將提高回報,但不會影響股東的權益。通過這種方式,債務的使用將提高投資回報率,儘管業務的核心經濟保持不變。

Chongqing Shunbo AluminumLtd's Debt And Its 1.6% ROE

重慶順博鋁業有限公司的債務及其1.6%的投資回報率

It's worth noting the high use of debt by Chongqing Shunbo AluminumLtd, leading to its debt to equity ratio of 1.42. 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.

值得注意的是,重慶順博鋁業有限公司大量使用債務,導致其負債權益比率爲1.42。由於投資回報率相當低,而且債務使用量很大,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無法如此輕易地借款,其表現會如何,因爲信貸市場確實會隨着時間的推移而發生變化。

Conclusion

結論

Return on equity is one way we can compare its business quality of different companies. 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.

股本回報率是我們可以比較不同公司的業務質量的一種方式。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視爲高質量的企業。在其他條件相同的情況下,更高的投資回報率更好。

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. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So I think it may be worth checking this free report on analyst forecasts for the company.

話雖如此,儘管投資回報率是衡量業務質量的有用指標,但您必須考慮一系列因素才能確定購買股票的正確價格。相對於當前價格所反映的利潤增長預期,還必須考慮利潤可能的增長速度。因此,我認爲可能值得查看這份關於分析師對公司的預測的免費報告。

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

當然,通過尋找其他地方,你可能會找到一筆不錯的投資。因此,來看看這份有趣的公司的免費清單吧。

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的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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