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Is Redco Healthy Living Company Limited's (HKG:2370) ROE Of 25% Impressive?
Is Redco Healthy Living Company Limited's (HKG:2370) ROE Of 25% Impressive?
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. We'll use ROE to examine Redco Healthy Living Company Limited (HKG:2370), by way of a worked example.
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Put another way, it reveals the company's success at turning shareholder investments into profits.
View our latest analysis for Redco Healthy Living
How Is ROE Calculated?
Return on equity can be calculated by using the formula:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Redco Healthy Living is:
25% = CN¥40m ÷ CN¥162m (Based on the trailing twelve months to December 2021).
The 'return' is the income the business earned over the last year. That means that for every HK$1 worth of shareholders' equity, the company generated HK$0.25 in profit.
Does Redco Healthy Living Have A Good Return On Equity?
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, Redco Healthy Living has a superior ROE than the average (7.4%) in the Real Estate industry.
SEHK:2370 Return on Equity July 13th 2022That is a good sign. However, bear in mind that a high ROE doesn't necessarily indicate efficient profit generation. A higher proportion of debt in a company's capital structure may also result in a high ROE, where the high debt levels could be a huge risk .
How Does Debt Impact Return On Equity?
Virtually all companies need money to invest in the business, to grow 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.
Combining Redco Healthy Living's Debt And Its 25% Return On Equity
While Redco Healthy Living does have a tiny amount of debt, with a debt to equity ratio of just 0.063, we think the use of debt is very modest. The combination of modest debt and a very impressive ROE does suggest that the business is high quality. Judicious use of debt to improve returns can certainly be a good thing, although it does elevate risk slightly and reduce future optionality.
Summary
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. A company that can achieve a high return on equity without debt could be considered a high quality business. If two companies have the same ROE, then I would generally prefer the one with less debt.
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 I think it may be worth checking this free this detailed graph of past earnings, revenue and cash flow.
Of course Redco Healthy Living 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.
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.
我们能做的最好的投资之一就是我们自己的知识和技能。考虑到这一点,本文将探讨如何使用股本回报率(ROE)来更好地了解企业。我们将用ROE来研究Redco Healthy Living Company Limited(HKG: 2370),举一个行之有效的例子。
股本回报率或投资回报率是对公司增值和管理投资者资金的有效性的考验。换句话说,它揭示了公司成功地将股东投资转化为利润。
查看我们对 Redco Health Living 的最新分析
投资回报率是如何计算的?
股本回报率可以通过使用以下公式计算:
股本回报率 = 净利润(来自持续经营)≥ 股东权益
因此,根据上述公式,Redco Healthy Living的投资回报率为:
25% = 4000万元兑CN¥162M(基于截至2021年12月的过去十二个月)。
“回报” 是企业在过去一年中获得的收入。这意味着,每持有价值1港元的股东权益,公司就会产生0.25港元的利润。
Redco Healthy Living 有良好的股本回报率吗?
确定公司是否具有良好的股本回报率的一种简单方法是将其与该行业的平均水平进行比较。这种方法的局限性在于,有些公司与其他公司有很大不同,即使在相同的行业分类中也是如此。令人高兴的是,Redco Healthy Living的投资回报率高于房地产行业的平均水平(7.4%)。
香港证券交易所:2370 2022 年 7 月 13 日股本回报率这是一个好兆头。但是,请记住,较高的投资回报率并不一定表示有效的利润产生。公司资本结构中较高的债务比例也可能导致较高的投资回报率,而高债务水平可能构成巨大的风险。
债务如何影响股本回报率?
几乎所有公司都需要资金来投资业务,以增加利润。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,投资回报率将利用这种资本来增长。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。通过这种方式,尽管企业的核心经济保持不变,但债务的使用将提高投资回报率。
合并Redco Healthy Living的债务及其25%的股本回报率
尽管Redco Healthy Living的债务确实很少,债务与权益比率仅为0.063,但我们认为债务的使用非常有限。适度的债务和令人印象深刻的投资回报率相结合,确实表明该业务质量很高。明智地使用债务来提高回报无疑是一件好事,尽管它确实会稍微提高风险并减少未来的选择性。
摘要
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。能够在没有债务的情况下实现高股本回报率的公司可以被视为高质量的企业。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。
但是,当企业质量很高时,市场通常会以反映这一点的价格出价。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。所以我认为这可能值得一试 免费的 这个 详细图表 过去的收益、收入和现金流。
当然 Redco Healthy Living 可能不是最值得买入的股票。所以你可能希望看到这个 免费的 收集其他投资回报率高、负债低的公司。
对这篇文章有反馈吗?对内容感到担忧? 取得联系 直接和我们联系。 或者,给编辑团队 (at) simplywallst.com 发送电子邮件。
Simply Wall St 的这篇文章本质上是一般性的。 我们仅使用不偏不倚的方法根据历史数据和分析师预测提供评论,我们的文章并非旨在提供财务建议。 它不构成买入或卖出任何股票的建议,也没有考虑您的目标或财务状况。我们的目标是为您提供由基本面数据驱动的长期重点分析。请注意,我们的分析可能未将最新的价格敏感型公司公告或定性材料考虑在内。简而言之,华尔街对上述任何股票都没有头寸。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
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