Is Guangdong Construction Engineering Group Co., Ltd. (SZSE:002060) A High Quality Stock To Own?
Is Guangdong Construction Engineering Group Co., Ltd. (SZSE:002060) A High Quality Stock To Own?
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 Guangdong Construction Engineering Group Co., Ltd. (SZSE:002060).
许多投资者仍然在学习分析股票时可以使用的各种指标。本文是为了那些想了解股东权益回报率(roe)的人。通过实践学习,我们将看看roe,以更好地了解广东建设工程集团有限公司(SZSE:002060)。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股东要考虑的关键因素之一是净资产收益率或roe,因为它告诉他们公司如何有效地重新投资他们的资本。简单点说,它衡量了公司与股东权益相关的盈利能力。
How Do You Calculate Return On Equity?
怎样计算ROE?
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 Guangdong Construction Engineering Group is:
因此,根据上述公式,广东建设工程集团的roe为:
11% = CN¥1.6b ÷ CN¥14b (Based on the trailing twelve months to March 2024).
11% = 人民币16亿 ÷ 人民币140亿(截至2024年3月的过去十二个月)。
The 'return' is the income the business earned over the last year. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.11 in profit.
“回报”是企业去年赚取的收入。 这意味着对于每1元股东权益,公司创造了0.11元的利润。
Does Guangdong Construction Engineering Group Have A Good Return On Equity?
广东建设工程集团的净资产收益率如何?
By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. Pleasingly, Guangdong Construction Engineering Group has a superior ROE than the average (7.3%) in the Construction industry.
通过将公司的 ROE 与其所在行业板块的平均水平进行比较,我们可以快速衡量其优劣。然而,这种方法只能作为粗略检查的指标,因为在同一行业分类中,公司之间确实存在相当大的差异。令人高兴的是,广东建设工程集团的 ROE 超过了建筑行业的平均水平(7.3%)。
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That's clearly a positive. With that said, a high ROE doesn't always indicate high profitability. Especially when a firm uses high levels of debt to finance its debt which may boost its ROE but the high leverage puts the company at risk. Our risks dashboardshould have the 3 risks we have identified for Guangdong Construction Engineering Group.
这显然是一个积极的信号。 话虽如此,高 ROE 并不总是表明高盈利能力。特别是当公司利用高额负债来融资,可能会提高其 ROE,但过高的杠杆会让公司面临风险。我们的风险仪表盘应包含我们为广东建设工程集团确定的3项风险。
The Importance Of Debt To Return On Equity
债务对股本回报率的重要性
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 required for growth will boost returns, but will not impact the shareholders' equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.
大多数公司需要从某个地方获得资金来增加利润。这些投资资金可以来自前年的利润(留存收益),发行新股或借贷。在前两种情况下,ROE将捕捉这种利用资本的增长。在后一种情况下,用于增长所需的债务将提高收益,但不会影响股东权益。因此,即使在可能发生“风暴”的情况下,债务的使用也可以提高ROE,但同时伴随着额外的风险。
Combining Guangdong Construction Engineering Group's Debt And Its 11% Return On Equity
广东建筑工程集团的负债和11%的roe的结合
Guangdong Construction Engineering Group does use a high amount of debt to increase returns. It has a debt to equity ratio of 2.28. Its ROE is quite low, even with the use of significant debt; that's not a good result, in our opinion. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.
广东建筑工程集团确实使用了大量的债务来增加回报。 它的负债股本比率为2.28。 即使债务规模相当大,它的roe仍然相当低,这在我们看来并不是一个好的结果。 债务增加了风险,减少了公司未来的选择,所以您通常希望从中获得一些良好的回报。
Summary
总的来说,我们对伟明环保的表现非常满意。具体而言,我们喜欢公司以高回报率再投资了其利润的很大一部分。当然,这导致公司的收益大幅增长。但是,最新的行业分析师预测表明,该公司的收益预计将加速增长。
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. All else being equal, a higher ROE is better.
股本回报率在比较不同企业质量时很有用。一家可以在没有债务的情况下实现高股本回报率的公司可以被认为是一家高质量的公司。其他条件相同,股本回报率越高,越好。
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. 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 check this FREE visualization of analyst forecasts for the company.
尽管ROE是衡量公司质量的一项有用指标,但您需要查看一系列因素才能确定购买股票的正确价格。重要的是,要考虑到其他因素,如未来的利润增长以及未来需要投入多少资本。因此,您可能需要查看该公司分析师预测的免费可视化工具。
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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