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Can GD Power Development Co.,Ltd's (SHSE:600795) ROE Continue To Surpass The Industry Average?

Can GD Power Development Co.,Ltd's (SHSE:600795) ROE Continue To Surpass The Industry Average?

國電電力股份有限公司(SHSE:600795)的roe可以繼續超過行業平均水平嗎?
Simply Wall St ·  2024/11/20 06:16

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). By way of learning-by-doing, we'll look at ROE to gain a better understanding of GD Power Development Co.,Ltd (SHSE:600795).

許多投資者仍在學習分析股票時有用的各種指標。本文適合那些希望了解淨資產收益率(ROE)的人。通過實踐學習,我們將研究ROE,以更好地了解國電電力(SHSE:600795)。

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

淨資產收益率(ROE)是一項測試,旨在評估公司如何有效地增長其價值並管理投資者資金。換句話說,它是一個盈利能力比率,衡量由公司股東提供的資本的回報率。

How Is ROE Calculated?

淨資產收益率怎麼計算?

The formula for return on equity is:

股東權益回報率的公式是:

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

股東權益回報率 = 凈利潤(來自持續運營)÷ 股東權益

So, based on the above formula, the ROE for GD Power DevelopmentLtd is:

根據上述公式,國電電力的ROE爲:

12% = CN¥16b ÷ CN¥131b (Based on the trailing twelve months to September 2024).

12% = CN¥160億 ÷ CN¥1310億(基於截至2024年9月的過去十二個月的數據)。

The 'return' is the yearly profit. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.12 in profit.

「回報」是年度利潤。 一種概念化方式是,對於每1元股東資本,公司賺取了0.12元的利潤。

Does GD Power DevelopmentLtd Have A Good Return On Equity?

國電電力有限公司的ROE表現好嗎?

One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. As is clear from the image below, GD Power DevelopmentLtd has a better ROE than the average (7.7%) in the Renewable Energy industry.

判斷一家公司是否具有良好的淨資產回報率的一個簡單方法是將其與行業的平均水平進行比較。然而,這種方法僅作爲粗略的檢查是有用的,因爲同一行業分類中的公司差異很大。正如下圖所示,國電電力的ROE高於可再生能源行業的平均水平(7.7%)。

big
SHSE:600795 Return on Equity November 19th 2024
SHSE:600795 淨資產回報率 2024年11月19日

That's clearly a positive. Bear in mind, a high ROE doesn't always mean superior financial performance. 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 2 risks we have identified for GD Power DevelopmentLtd by visiting our risks dashboard for free on our platform here.

這顯然是一個積極的信號。請記住,高ROE並不總是意味着優越的財務表現。除了凈利潤的變化,高ROE也可能是相對於淨資產的高債務的結果,這表明風險。您可以通過訪問我們平台上的風險儀表板,查看我們爲國電電力識別的兩個風險,免費了解。

How Does Debt Impact Return On Equity?

債務如何影響凈利潤回報率?

Companies usually need to invest money 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 used for growth will improve returns, but won't affect the total equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.

公司通常需要投資資金以增加利潤。這筆現金可以來自發行股份、留存收益或者債務。在前兩個選項中,ROE將反映這種現金的使用,用於增長。在後者中,用於增長的債務將改善回報,但不會影響總淨資產。因此,債務的使用可以提高ROE,儘管在風雨交加的情況下,伴隨額外的風險,形象地說。

Combining GD Power DevelopmentLtd's Debt And Its 12% Return On Equity

結合國電電力有限公司的債務和其12%的淨資產收益率

GD Power DevelopmentLtd clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 2.17. The combination of a rather low ROE and significant use of debt is not particularly appealing. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.

國電電力有限公司顯然使用了大量債務來提升回報,因爲其債務股本比率爲2.17。 較低的ROE與大量使用債務的結合並不是特別吸引人。 債務會增加風險,並減少公司未來的選擇,因此通常希望看到一些良好的回報。

Summary

總結

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.

淨資產收益率是我們比較不同公司業務質量的一種方式。能夠在沒有債務的情況下實現高淨資產收益率的公司可以被視爲高質量的業務。在其他條件相同的情況下,更高的ROE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. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. So I think it may be worth checking this free report on analyst forecasts for the company.

話雖如此,雖然ROE是一個有用的商業質量指標,但你必須考慮一系列因素來判斷買入股票的正確價格。利潤增長率與股票價格所反映的預期相比,是特別重要的考慮因素。因此,我認爲查看這份關於該公司的分析師預測的免費報告可能是值得的。

If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

如果你更願意查看另一家公司——一家潛在的財務狀況優秀的公司——那麼一定不要錯過這份有趣公司的免費列表,這些公司有高股本回報率和低負債。

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?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價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沒有持倉。

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