Based On Its ROE, Is Jiangsu Zhongsheng Gaoke Environmental Co.,Ltd. (SZSE:002778) A High Quality Stock?
Based On Its ROE, Is Jiangsu Zhongsheng Gaoke Environmental Co.,Ltd. (SZSE:002778) A High Quality Stock?
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 Jiangsu Zhongsheng Gaoke Environmental Co.,Ltd. (SZSE:002778).
许多投资者仍在学习分析股票时可能有用的各种指标。本文适用于那些想了解股本回报率(ROE)的人。通过边干边学的方式,我们将研究投资回报率,以更好地了解江苏中盛高科环境有限公司。,有限公司(深圳证券交易所:002778)。
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.
ROE或股本回报率是评估公司如何有效地从股东那里获得的投资中获得回报的有用工具。简而言之,它用于评估公司相对于其股权资本的盈利能力。
How To Calculate Return On Equity?
如何计算股本回报率?
ROE can be calculated by using the formula:
ROE 可以通过以下公式计算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润(来自持续经营业务)÷ 股东权益
So, based on the above formula, the ROE for Jiangsu Zhongsheng Gaoke EnvironmentalLtd is:
因此,根据上述公式,江苏中盛高科环保有限公司的投资回报率为:
4.8% = CN¥30m ÷ CN¥620m (Based on the trailing twelve months to September 2022).
4.8% = 3000万元人民币 ÷ 6.2亿元人民币(基于截至2022年9月的过去十二个月)。
The 'return' refers to a company's earnings over the last year. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.05 in profit.
“回报” 是指公司去年的收益。这意味着,每持有价值1元人民币的股权,公司就会产生0.05元人民币的利润。
Does Jiangsu Zhongsheng Gaoke EnvironmentalLtd Have A Good ROE?
江苏中盛高科环保有限公司的投资回报率是否良好?
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. 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, Jiangsu Zhongsheng Gaoke EnvironmentalLtd has a lower ROE than the average (6.9%) in the Chemicals industry.
确定公司股本回报率是否不错的一种简单方法是将其与该行业的平均水平进行比较。但是,这种方法仅在粗略检查时有用,因为各公司在相同的行业分类中确实存在很大差异。从下图中可以看出,江苏中盛高科环境有限公司的投资回报率低于化工行业的平均水平(6.9%)。
![roe](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240203/0-81f451397f3b6e64ec600ee6c816c25d-0-1f13752451c1b80d0905daaa8a47514e.png/big)
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 high debt company having a low ROE is a different story altogether and a risky investment in our books. To know the 2 risks we have identified for Jiangsu Zhongsheng Gaoke EnvironmentalLtd visit our risks dashboard for free.
这当然不理想。话虽如此,低投资回报率并不总是一件坏事,尤其是在公司的杠杆率低的情况下,因为如果公司承担更多债务,这仍有改进的余地。投资回报率低的高负债公司完全是另一回事,对我们的账面来说也是一项风险投资。要了解我们为江苏中盛高科环境有限公司确定的两种风险,请免费访问我们的风险仪表板。
How Does Debt Impact ROE?
债务如何影响投资回报率?
Most companies need money -- from somewhere -- to grow their profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. 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. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
大多数公司需要来自某个地方的资金来增加利润。投资现金可以来自上一年的利润(留存收益)、发行新股或借款。在前两个案例中,投资回报率将涵盖这种资本用于增长的用途。在后一种情况下,用于增长的债务将提高回报,但不会影响总资产。以这种方式,债务的使用将提高投资回报率,尽管该业务的核心经济学保持不变。
Combining Jiangsu Zhongsheng Gaoke EnvironmentalLtd's Debt And Its 4.8% Return On Equity
合并江苏中盛高科环保股份有限公司的债务及其4.8%的股本回报率
While Jiangsu Zhongsheng Gaoke EnvironmentalLtd does have some debt, with a debt to equity ratio of just 0.49, we wouldn't say debt is excessive. Its ROE is certainly on the low side, and since it already uses debt, we're not too excited about the company. Judicious use of debt to improve returns can certainly be a good thing, although it does elevate risk slightly and reduce future optionality.
尽管江苏中盛高科环境有限公司确实有一些债务,负债权益比率仅为0.49,但我们不会说债务过多。它的投资回报率肯定很低,而且由于它已经使用债务,我们对该公司并不太兴奋。明智地使用债务来提高回报肯定是一件好事,尽管它确实会稍微提高风险并减少未来的选择余地。
Summary
摘要
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. In our books, the highest quality companies have high return on equity, despite low debt. If two companies have the same ROE, then I would generally prefer the one with less debt.
股本回报率是衡量企业创造利润并将其返还给股东的能力的有用指标。在我们的账簿中,尽管债务很低,但质量最高的公司的股本回报率却很高。如果两家公司的投资回报率相同,那么我通常更喜欢负债较少的公司。
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. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. You can see how the company has grow in the past by looking at this FREE detailed graph of past earnings, revenue and cash flow.
话虽如此,尽管投资回报率是衡量业务质量的有用指标,但您必须考虑一系列因素才能确定购买股票的正确价格。重要的是要考虑其他因素,例如未来的利润增长以及未来需要多少投资。您可以通过查看这张免费的过去收益、收入和现金流详细图表来了解公司过去的增长情况。
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.
如果你更愿意去另一家公司——一家财务状况可能优越的公司——那么千万不要错过这份免费的股本回报率高、债务低的有趣公司的名单。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。