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What Lizhong Sitong Light Alloys Group Co., Ltd.'s (SZSE:300428) ROE Can Tell Us
What Lizhong Sitong Light Alloys Group Co., Ltd.'s (SZSE:300428) ROE Can Tell Us
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). To keep the lesson grounded in practicality, we'll use ROE to better understand Lizhong Sitong Light Alloys Group Co., Ltd. (SZSE:300428).
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.
See our latest analysis for Lizhong Sitong Light Alloys Group
How To Calculate Return On Equity?
The formula for return on equity is:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
So, based on the above formula, the ROE for Lizhong Sitong Light Alloys Group is:
8.2% = CN¥454m ÷ CN¥5.5b (Based on the trailing twelve months to June 2022).
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.08.
Does Lizhong Sitong Light Alloys Group 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. The image below shows that Lizhong Sitong Light Alloys Group has an ROE that is roughly in line with the Metals and Mining industry average (8.9%).
SZSE:300428 Return on Equity September 12th 2022That's neither particularly good, nor bad. 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 4 risks we have identified for Lizhong Sitong Light Alloys Group by visiting our risks dashboard for free on our platform here.
Why You Should Consider Debt When Looking At ROE
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. That will make the ROE look better than if no debt was used.
Lizhong Sitong Light Alloys Group's Debt And Its 8.2% ROE
It's worth noting the high use of debt by Lizhong Sitong Light Alloys Group, leading to its debt to equity ratio of 1.42. Its ROE is quite low, even with the use of significant debt; that's not a good result, in our opinion. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.
Summary
Return on equity is one way we can compare its business quality of different companies. 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.
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 you might want to take a peek at this data-rich interactive graph of forecasts for the company.
Of course Lizhong Sitong Light Alloys Group 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.
许多投资者仍在学习在分析股票时可能有用的各种指标。这篇文章是为那些想了解股本回报率(ROE)的人准备的。为了让这一课立足于实践,我们将使用净资产收益率来更好地了解礼中四通轻合金集团有限公司(上交所代码:300428)。
股本回报率(ROE)是对一家公司增值和管理投资者资金的效率的测试。简而言之,它衡量的是一家公司相对于股东权益的盈利能力。
请看我们对丽中四通轻合金集团的最新分析
如何计算股本回报率?
这个股本回报率公式是:
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,丽中四通轻合金集团的净资产收益率为:
8.2%=CN元4.54亿×CN元55亿元(基于截至2022年6月的12个月)。
“报税表”是过去12个月的税后收入。因此,这意味着股东每投资1元人民币,公司就会产生0.08元的利润。
丽中四通轻合金集团的股本回报率高吗?
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。下图显示,丽中四通轻合金集团的净资产收益率大致与金属矿业平均水平(8.9%)持平。
深圳证券交易所:300428股本回报率2022年9月12日这既不是特别好,也不是特别坏。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丽中四通轻合金集团确定的4个风险风险控制面板在我们的平台上是免费的。
为什么在考虑净资产收益率时应该考虑债务
大多数公司都需要资金--从某个地方--来增加利润。投资的现金可以来自上一年的利润(留存收益)、发行新股或借款。在前两种情况下,净资产收益率将抓住这种资本增长的用途。在后一种情况下,增长所需的债务将提高回报,但不会影响股东权益。这将使净资产收益率看起来比不使用债务的情况下更好。
丽中四通轻合金集团的债务及其8.2%的净资产收益率
值得注意的是,丽中四通轻合金集团高负债,导致其债务权益比为1.42。它的净资产收益率相当低,即使使用了大量债务;在我们看来,这不是一个好结果。债务确实会带来额外的风险,所以只有当一家公司从债务中获得一些可观的回报时,它才是真正值得的。
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。一家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认为是一家高质量的企业。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。因此,你可能想看看这张数据丰富的公司预测互动图表。
当然了丽中四通轻合金集团可能不是最值得买入的股票。所以你可能想看看这个免费其他拥有高ROE和低债务的公司的集合。
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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