Can SKSHU Paint Co.,Ltd. (SHSE:603737) Improve Its Returns?
Can SKSHU Paint Co.,Ltd. (SHSE:603737) Improve Its Returns?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. By way of learning-by-doing, we'll look at ROE to gain a better understanding of SKSHU Paint Co.,Ltd. (SHSE:603737).
尽管一些投资者已经对金融指标 (致敬) 很熟悉,但本文是为那些想学习什么是股东权益回报率 (ROE) 以及它的重要性的人准备的。通过实际操作学习,我们将通过研究ROE来更好地了解三棵树(上海)涂料股份有限公司 (SHSE:603737)。
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.
股东权益回报率ROE是测试公司增值能力和管理股东投资的有效性的指标。更简单地说,它衡量公司在股东权益中的盈利能力。
How To Calculate Return On Equity?
如何计算股东权益报酬率?
Return on equity can be calculated by using the formula:
股东权益报酬率可以使用以下公式计算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润(从持续经营中获得)÷ 股东权益
So, based on the above formula, the ROE for SKSHU PaintLtd is:
因此,根据上述公式,三棵树(上海)涂料股份有限公司的ROE为:
2.5% = CN¥69m ÷ CN¥2.8b (Based on the trailing twelve months to June 2024).
2.5% = CN¥6900万 ÷ CN¥28亿 (基于截至2024年6月的过去12个月)。
The 'return' is the amount earned after tax over the last twelve months. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.02 in profit.
“回报”是指过去十二个月的税后收益。这意味着,对于每个CN¥1的股东权益,公司创造了CN¥0.02的利润。
Does SKSHU PaintLtd Have A Good Return On Equity?
三棵树(上海)涂料股份有限公司是否有良好的股东权益回报率?
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 SKSHU PaintLtd has a lower ROE than the average (6.5%) in the Chemicals industry classification.
判断一家公司是否有良好的股东权益回报率的一个简单方法是将其与同行业平均水平进行比较。这种方法的局限性在于,即使是在同一行业分类中,有些公司也与其他公司非常不同。从下面的图片中可以看出,三棵树(上海)涂料股份有限公司的ROE低于化学品行业分类的平均水平(6.5%)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240818/0-072a9e5712a0cd7e96fb6694223ea9f3-0-f62936c4decdecc775464088916614ba.png/big)
That's not what we like to see. Although, we think that a lower ROE could still mean that a company has the opportunity to better its returns with the use of leverage, provided its existing debt levels are low. A company with high debt levels and low ROE is a combination we like to avoid given the risk involved. Our risks dashboard should have the 3 risks we have identified for SKSHU PaintLtd.
这不是我们想看到的。虽然我们认为较低的ROE仍可能意味着一家公司在利用杠杆的情况下有更好的回报机会,但前提是其现有的债务水平较低。具有高债务水平和低ROE的公司是一种风险,我们不愿意承担这种风险。我们的风险管理仪表板应该列出了我们为三棵树(上海)涂料股份有限公司确定的3个风险。
Why You Should Consider Debt When Looking At ROE
为什么在观察ROE时你应该考虑债务问题?
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 used for growth will improve returns, but won't affect the total equity. That will make the ROE look better than if no debt was used.
大多数公司需要资金来增加盈利。这些现金可以来自发行股票、留存收益或债务。对于前两个选项,roe将反映这种用于增长的现金。在后一种情况下,用于增长的债务将提高回报,但不会影响总股本。这将使roe看起来比没有使用债务时更好。
SKSHU PaintLtd's Debt And Its 2.5% ROE
三棵树(上海)涂料股份有限公司的债务和其2.5%的ROE
It's worth noting the high use of debt by SKSHU PaintLtd, leading to its debt to equity ratio of 1.51. The combination of a rather low ROE and significant use of debt is not particularly appealing. 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,三棵树(上海)涂料股份有限公司使用了大量债务,导致债务权益比为1.51。相对较低的ROE和大量使用债务的结合并不特别吸引人。投资者应该仔细考虑一家公司如果不能轻易地借款将如何表现,因为信贷市场随时间会发生变化。
Conclusion
结论
Return on equity is useful for comparing the quality of different businesses. Companies that can achieve high returns on equity without too much debt are generally of good quality. All else being equal, a higher ROE is better.
股本回报率可以用于比较不同企业的质量。没有太多负债即可实现高回报的公司通常质量较好。其他因素相等的情况下,较高的ROE更好。
But when a business is high quality, the market often bids it up to a price that reflects this. 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.
当然,索尼克汽车可能不是最好的股票购买。因此,您可能希望查看此高ROE和低债务的其他公司的免费收藏。
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.
如果您想查看另一家可能具有更好财务状况的公司 - 具有高股本回报率和低债务的公司,那么请不要错过这份有趣公司列表,该列表免费提供。
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