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With A Return On Equity Of 8.6%, Has Health and Happiness (H&H) International Holdings Limited's (HKG:1112) Management Done Well?
With A Return On Equity Of 8.6%, Has Health and Happiness (H&H) International Holdings Limited's (HKG:1112) Management Done Well?
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. To keep the lesson grounded in practicality, we'll use ROE to better understand Health and Happiness (H&H) International Holdings Limited (HKG:1112).
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. Put another way, it reveals the company's success at turning shareholder investments into profits.
View our latest analysis for Health and Happiness (H&H) International Holdings
How Do You Calculate Return On Equity?
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 Health and Happiness (H&H) International Holdings is:
8.6% = CN¥508m ÷ CN¥5.9b (Based on the trailing twelve months to December 2021).
The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each HK$1 of shareholders' capital it has, the company made HK$0.09 in profit.
Does Health and Happiness (H&H) International Holdings Have A Good Return On Equity?
By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. You can see in the graphic below that Health and Happiness (H&H) International Holdings has an ROE that is fairly close to the average for the Food industry (9.3%).
SEHK:1112 Return on Equity August 8th 2022So while the ROE is not exceptional, at least its acceptable. Although the ROE is similar to the industry, we should still perform further checks to see if the company's ROE is being boosted by high debt levels. If a company takes on too much debt, it is at higher risk of defaulting on interest payments. You can see the 3 risks we have identified for Health and Happiness (H&H) International Holdings by visiting our risks dashboard for free on our platform here.
How Does Debt Impact Return On Equity?
Companies usually need to invest money 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 use of debt will improve the returns, but will not change the equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.
Health and Happiness (H&H) International Holdings' Debt And Its 8.6% ROE
Health and Happiness (H&H) International Holdings does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.63. 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.
Summary
Return on equity is one way we can compare its business quality of different companies. Companies that can achieve high returns on equity without too much debt are generally of good quality. If two companies have the same ROE, then I would generally prefer the one with less debt.
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. 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.
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.
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,本文将讨论如何使用股本回报率(ROE)来更好地了解企业。为了使课程立足于实践,我们将使用净资产收益率来更好地了解健康幸福(H&H)国际控股有限公司(HKG:1112)。
净资产收益率,即股本回报率,是评估一家公司从股东那里获得投资回报的有效程度的有用工具。换句话说,它揭示了该公司成功地将股东投资转化为利润。
查看我们对健康幸福(H&H)国际控股公司的最新分析
你如何计算股本回报率?
股本回报率可使用以下公式计算:
股本回报率=(持续经营的)净利润?股东权益
因此,根据上述公式,健康幸福(H&H)国际控股的净资产收益率为:
8.6%=5.08亿元×59亿元(以截至2021年12月的12个月为基础)。
“收益”是过去12个月的利润。一种将其概念化的方法是,公司每持有1港元的股东资本,就能获得0.09港元的利润。
健康幸福(H&H)国际控股公司的股本回报率高吗?
通过将一家公司的净资产收益率(ROE)与其行业平均水平进行比较,我们可以快速衡量它有多好。重要的是,这远远不是一个完美的衡量标准,因为在同一行业分类中,公司的差异很大。在下图中可以看到,健康幸福(H&H)国际控股公司的净资产收益率相当接近食品行业的平均水平(9.3%)。
联交所:1112股本回报率2022年8月8日因此,虽然净资产收益率并不例外,但至少是可以接受的。尽管净资产收益率与行业类似,但我们仍应进行进一步检查,看看公司的净资产收益率是否受到高债务水平的提振。如果一家公司承担了太多债务,那么它拖欠利息的风险就会更高。您可以通过访问我们的网站查看我们为健康幸福(H&H)国际控股确定的3个风险风险控制面板在我们的平台上是免费的。
债务对股本回报率有何影响?
公司通常需要投入资金来增加利润。这些现金可以来自发行股票、留存收益或债务。在第一种和第二种选择的情况下,净资产收益率将反映现金用于增长的这种情况。在后一种情况下,债务的使用将提高回报,但不会改变股权。因此,债务的使用可以提高净资产收益率,尽管打个比方说,在暴风雨天气的情况下会有额外的风险。
健康幸福(H&H)国际控股的债务及其8.6%的净资产收益率
健康与幸福(H&H)国际控股公司确实使用了大量的债务来增加回报。它的债务与股本比率为1.63。相当低的净资产收益率和大量使用债务的组合并不是特别有吸引力。投资者应该仔细考虑,如果一家公司不能如此轻松地借款,它可能会表现如何,因为信贷市场确实会随着时间的推移而变化。
摘要
股本回报率是我们比较不同公司业务质量的一种方式。能够在没有太多债务的情况下实现高股本回报率的公司通常质量良好。如果两家公司的净资产收益率相同,那么我通常会倾向于债务较少的那一家。
话虽如此,虽然净资产收益率是衡量业务质量的有用指标,但你必须考虑一系列因素,才能确定购买股票的合适价格。相对于股价反映的预期,利润增长率是一个特别重要的考虑因素。所以我觉得这可能值得一查免费分析师对该公司的预测报告。
如果你更愿意看看另一家公司--一家财务状况可能更好的公司--那么不要错过这一点免费列出了一些有趣的公司,这些公司拥有高股本回报率和低债务。
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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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。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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