Is HKT Trust and HKT Limited (HKG:6823) A High Quality Stock To Own?
Is HKT Trust and HKT Limited (HKG:6823) A High Quality Stock To Own?
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. To keep the lesson grounded in practicality, we'll use ROE to better understand HKT Trust and HKT Limited (HKG:6823).
我們所做的最好投資之一是投資於自己的知識和技能。考慮到這一點,本文將通過如何使用ROE更好地理解業務來進行說明。爲了使本課程更加實用,我們將使用ROE來更好地理解香港電訊-ss信託和香港電訊-ss有限公司(HKG:6823)。
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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
roe指股東權益回報率,是一種有用的工具,用於評估公司如何有效地從股東獲得的投資中產生回報。簡單來說,這衡量了一家公司相對於股東權益的盈利能力。
How Do You Calculate Return On Equity?
怎樣計算ROE?
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤(從持續經營中獲得)÷ 股東權益
So, based on the above formula, the ROE for HKT Trust and HKT is:
因此,根據以上公式,香港電訊-ss信託和香港電訊-ss的ROE爲:
14% = HK$5.0b ÷ HK$35b (Based on the trailing twelve months to December 2023).
14% = HK$50億 ÷ HK$350億(截至2023年12月的過去十二個月)。
The 'return' is the yearly profit. Another way to think of that is that for every HK$1 worth of equity, the company was able to earn HK$0.14 in profit.
“收益”是年利潤。換句話說,對於每1港元的股權價值,該公司能夠賺取0.14港元的利潤。
Does HKT Trust and HKT Have A Good Return On Equity?
香港電訊-ss信託和香港電訊-ss的ROE表現如何?
By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. Pleasingly, HKT Trust and HKT has a superior ROE than the average (6.1%) in the Telecom industry.
通過將一個公司的roe與其行業板塊平均值進行比較,我們可以快速衡量其公司的業績情況。但是這種方法的侷限性在於有些公司即使在同一行業分類中也與其他公司非常不同。令人高興的是,香港電訊-ss信託基金和香港電訊-ss的roe比電信行業平均水平(6.1%)高。
![roe](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240705/0-75a87531a2b60b94818d8a885c3e123d-0-4f870fef28d8a851fe5ac18a63cbf1b2.png/big)
That is a good sign. With that said, a high ROE doesn't always indicate high profitability. Aside from changes in net income, a high ROE can also be the outcome of high debt relative to equity, which indicates risk. You can see the 3 risks we have identified for HKT Trust and HKT by visiting our risks dashboard for free on our platform here.
那是一個好的跡象。但是,高ROE並不總是表明高盈利能力。除了淨收入的變化外,高ROE也可能是相對於股權的高債務而來,這表明風險。您可以訪問我們的網站了解香港電訊-ss信託和香港電訊-ss的三大風險。風險儀表板在瀏覽完所有相關因素確定股票購買價格後,ROE是一個有用的公司質量指標。此外,還需要考慮其他因素,例如未來盈利增長以及未來需要投入多少投資。因此,我認爲值得查看這份免費的詳細收益、營收和現金流圖表。
The Importance Of Debt To Return On Equity
債務對股本回報率的重要性
Companies usually need to invest money to grow their profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. In the case of the first and second options, the ROE will reflect this use of cash, for growth. In the latter case, the use of debt will improve the returns, but will not change the equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.
公司通常需要投資來增加其利潤。投資的資金來自前年的利潤(留存收益)、發行新股或借債。在第一種和第二種選擇的情況下,ROE將反映這種用於增長的現金使用。在後一種情況下,債務的使用將提高回報,但不會改變股權。因此,在比喻性的“風雨臨近”的情況下,債務的使用可以提高ROE,但也伴隨着額外的風險。
HKT Trust and HKT's Debt And Its 14% ROE
香港電訊-ss信託和香港電訊-ss的債務和其14% ROE
HKT Trust and HKT does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.28. While its ROE is pretty respectable, the amount of debt the company is carrying currently is not ideal. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.
香港電訊-ss信託和香港電訊-ss確實使用大量債務來提高回報。其債務與股權比率爲1.28。儘管其ROE相當可觀,但公司目前攜帶的債務金額並不理想。債務確實帶來額外的風險,因此只有在公司從中獲得了一定的回報時才真正值得。
Summary
總的來說,我們對偉明環保的表現非常滿意。具體而言,我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然,這導致公司的收益大幅增長。但是,最新的行業分析師預測表明,該公司的收益預計將加速增長。
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. If two companies have the same ROE, then I would generally prefer the one with less debt.
roe對於比較不同企業的質量很有用。一家能夠在不借債的情況下實現高股東權益投資回報率的公司可以被認爲是高質量的企業。如果兩家公司具有相同的roe,則我通常更喜歡負債更少的那家公司。
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. So you might want to take a peek at this data-rich interactive graph of forecasts for the company.
但是,當企業具有高質量時,市場通常會將其競價提高到反映這一點的價格。重要的是考慮其他因素,例如未來的利潤增長 – 以及未來需要多少投資。因此,您可能需要看一下該公司預測數據豐富,交互式圖形。
But note: HKT Trust and HKT 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.
但要注意:香港電訊-ss信託和香港電訊-ss可能不是最好的股票選擇。因此,請參閱這份自由列表,其中包含ROE高而負債低的有趣公司。
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.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或電郵 editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者,也可以發送電子郵件至editorial-team@simplywallst.com