Why China Coal Xinji Energy Co.,Ltd (SHSE:601918) Looks Like A Quality Company
Why China Coal Xinji Energy Co.,Ltd (SHSE:601918) Looks Like A Quality Company
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. By way of learning-by-doing, we'll look at ROE to gain a better understanding of China Coal Xinji Energy Co.,Ltd (SHSE:601918).
我們可以做出的最佳投資之一就是提升我們自己的知識和技能。考慮到這一點，本文將探討如何利用roe更好地理解一個業務。通過實踐學習，我們將以roe爲例，更好地理解中煤能源新集能源有限公司（SHSE:601918）。
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或股東權益回報率是評估公司如何有效地從股東那裏獲得回報的有用工具。簡而言之，它用於評估公司相對於其權益資本的盈利能力。
How Is ROE Calculated?
淨資產收益率怎麼計算？
The formula for return on equity is:
權益回報率的計算公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤（來自持續經營） ÷ 股東權益
So, based on the above formula, the ROE for China Coal Xinji EnergyLtd is:
因此，根據上述公式，中煤能源新集能源有限公司的roe爲：
14% = CN¥2.3b ÷ CN¥17b (Based on the trailing twelve months to September 2024).
14% = CN¥23億 ÷ CN¥170億（基於截至2024年9月的過去十二個月）。
The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.14 in profit.
「回報」是過去十二個月的利潤。一種概念化方式是，對於每1元的股東資本，該公司賺取了0.14元的利潤。
Does China Coal Xinji EnergyLtd Have A Good ROE?
中國煤炭新集能源有限公司的roe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. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. Pleasingly, China Coal Xinji EnergyLtd has a superior ROE than the average (9.3%) in the Oil and Gas industry.
判斷一家公司的淨利潤是否良好的一個簡單方法是將其與該行業板塊的平均水平進行比較。 這種方法的侷限性在於某些公司與其他公司之間存在顯著差異，即使在同一行業分類中。 令人欣慰的是，中國煤炭新集能源有限公司的roe高於油氣行業的平均水平（9.3%）。
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. You can see the 3 risks we have identified for China Coal Xinji EnergyLtd by visiting our risks dashboard for free on our platform here.
這顯然是個積極的信號。 也就是說，高roe並不總是意味着高盈利能力。 尤其是當一家公司使用高水平的債務來融資時，這可能會提高其roe，但高槓杆使公司面臨風險。 您可以通過訪問我們平台上的風險特斯拉-儀表，免費查看我們爲中國煤炭新集能源有限公司識別的3個風險。
The Importance Of Debt To Return On Equity
債務對股本回報率的重要性
Most companies need money -- from somewhere -- to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the first and second cases, the ROE will reflect this use of cash for investment in the business. 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.
大多數公司需要資金——從某個地方——來增長其利潤。 這些資金可以來自發行股票、留存收益或債務。在前兩種情況下，roe將反映出這筆現金在業務上的投資使用。在後一種情況下，債務的使用將提高投資回報，但不會改變股本。這將使roe看起來比未使用債務時更好。
China Coal Xinji EnergyLtd's Debt And Its 14% ROE
中煤能源新集有限公司的債務及其14%的roe
China Coal Xinji EnergyLtd does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.09. There's no doubt its ROE is decent, but the very high debt the company carries is not too exciting to see. 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.
中煤能源新集有限公司確實使用了高額的債務來提高回報。其債務與股本比率爲1.09。毫無疑問，其roe相當不錯，但公司揹負的高額債務並不讓人感到興奮。投資者應該認真考慮，如果公司無法如此輕鬆地借款，未來的表現可能會如何，因爲信貸市場隨時間變化。
Conclusion
結論
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.
ROE是評估企業能否創造利潤並將其返還給股東的有用指標。在我們的清單中，最高品質的公司具有高回報率，儘管負債較低。如果兩家公司的ROE相同，那麼我通常更喜歡負債較小的公司。
But when a business is high quality, the market often bids it up to a price that reflects this. 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.
但是，當一家企業爲高質量企業時，市場經常會按其價值出價。重要的是要考慮其他因素，例如未來的利潤增長 -- 以及未來需要的投資。因此，您可能需要查看此公司的分析師預測的免費可視化工具。
Of course China Coal Xinji EnergyLtd may not be the best stock to buy. So you may wish to see this free collection of other companies that have high ROE and low debt.
當然，中煤能源新集有限公司可能不是最佳的買入股票。因此，您可能希望查看這份其他高roe和低債務公司的免費集合。
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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.
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