Is Shanghai QiFan Cable Co., Ltd's (SHSE:605222) 7.7% ROE Strong Compared To Its Industry?
Is Shanghai QiFan Cable Co., Ltd's (SHSE:605222) 7.7% ROE Strong Compared To Its Industry?
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). We'll use ROE to examine Shanghai QiFan Cable Co., Ltd (SHSE:605222), by way of a worked example.
許多投資者仍在學習分析股票時可用的各種指標。本文適用於那些想要了解淨資產收益率(roe)的人。我們將使用roe來分析上海起帆電纜有限公司(SHSE:605222),通過一個實例來說明。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股東權益回報率ROE是測試公司增值能力和管理股東投資的有效性的指標。更簡單地說,它衡量公司在股東權益中的盈利能力。
How Is ROE Calculated?
淨資產收益率怎麼計算?
The formula for ROE is:
roe的公式是:
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 Shanghai QiFan Cable is:
那麼,根據上述公式,起帆電纜的ROE爲:
7.7% = CN¥363m ÷ CN¥4.7b (Based on the trailing twelve months to June 2024).
7.7% = 3,6300萬人民幣 ÷ 470億人民幣(基於截至2024年6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¥0.08.
「回報」指的是公司的去年收益。這意味着對於股東的每CN¥1的投資,公司可以獲得CN¥0.08的利潤。
Does Shanghai QiFan Cable Have A Good ROE?
上海起帆電纜的roe表現如何?
Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. You can see in the graphic below that Shanghai QiFan Cable has an ROE that is fairly close to the average for the Electrical industry (6.9%).
可以說,評估公司的roe最簡單的方法之一是將其與所在行業的平均值進行比較。然而,這種方法只能作爲粗略的檢查,因爲同一行業分類中的公司差異相當大。您可以在下圖中看到,上海起帆電纜的roe與電氣行業的平均值(6.9%)相當接近。
That's neither particularly good, nor bad. Even if the ROE is respectable when compared to the industry, its worth checking if the firm's ROE is being aided by high debt levels. If a company takes on too much debt, it is at higher risk of defaulting on interest payments. To know the 3 risks we have identified for Shanghai QiFan Cable visit our risks dashboard for free.
這既不算特別好,也不算糟糕。即使與行業相比,roe令人滿意,也值得檢查公司的roe是否受高負債水平的支持。 如果公司負債過多,就存在較高的利息償付違約風險。要了解我們爲上海起帆電纜確定的3個風險,請訪問我們的風險特斯拉-儀表免費查看。
The Importance Of Debt To Return On Equity
債務對股本回報率的重要性
Virtually all companies need money to invest in the business, to grow 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 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.
幾乎所有公司都需要投資於業務、增加利潤的資金。這些資金可以通過發行股票、保留收益或債務籌集。在前兩種選項的情況下,ROE將反映用於增長的這些資金。在後一種情況下,使用債務將提高回報,但不會改變權益。這將使ROE看起來比不使用債務時更加優秀。
Shanghai QiFan Cable's Debt And Its 7.7% ROE
起帆電纜的債務以及其7.7%的roe
Shanghai QiFan Cable does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.28. With a fairly low ROE, and significant use of debt, it's hard to get excited about this business at the moment. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.
起帆電纜確實使用大量債務來增加回報率。其債務/權益比爲1.28。 有着相對較低的roe和大量債務的情況下,目前很難對這家業務感到興奮。 債務增加了風險並減少了公司未來的選擇,所以你通常希望通過使用它來獲得一些良好的回報。
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 one way we can compare its business quality of different companies. Companies that can achieve high returns on equity without too much debt are generally of good quality. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.
股東權益回報率是比較不同公司業務質量的方法之一。可以在沒有太多債務的情況下實現高股東權益回報率的公司通常質量較好。如果兩家公司的負債權益比大約相同,並且一家公司ROE較高,我通常更喜歡ROE較高的公司。
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 you might want to take a peek at this data-rich interactive graph of forecasts for the company.
儘管 ROE 是業務質量的一個有用指標,但您仍需要查看各種因素,以確定購買股票的正確價格。相對於當前價格反映的利潤增長預期,利潤增長率可能是一個要考慮的因素。因此,您可能需要查看這個數據豐富的互動圖表,了解該公司的預測。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
當然,您也可能通過尋找其他地方來找到出色的投資。因此,不妨查看這個有趣公司的免費列表。
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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@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。