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Why Onewo Inc. (HKG:2602) Looks Like A Quality Company
Why Onewo Inc. (HKG:2602) Looks Like A Quality Company
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 Onewo Inc. (HKG:2602).
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.
See our latest analysis for Onewo
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 Onewo is:
17% = CN¥1.8b ÷ CN¥11b (Based on the trailing twelve months to June 2022).
The 'return' refers to a company's earnings over the last year. That means that for every HK$1 worth of shareholders' equity, the company generated HK$0.17 in profit.
Does Onewo Have A Good ROE?
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. Pleasingly, Onewo has a superior ROE than the average (6.8%) in the Real Estate industry.
That's what we like to see. With that said, a high ROE doesn't always indicate high profitability. 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 .
The Importance Of Debt To Return On Equity
Most companies need money -- from somewhere -- to grow their profits. That cash can come from retained earnings, issuing new shares (equity), 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 debt used for growth will improve returns, but won't affect the total equity. That will make the ROE look better than if no debt was used.
Combining Onewo's Debt And Its 17% Return On Equity
Onewo is free of net debt, which is a positive for shareholders. Its ROE already suggests it is a good business, but the fact it has achieved this -- and doesn't borrowings -- makes it worthy of further consideration, in our view. At the end of the day, when a company has zero debt, it is in a better position to take future growth opportunities.
Conclusion
Return on equity is useful for comparing the quality of different businesses. 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.
But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to check this FREE visualization of analyst forecasts for the company.
But note: Onewo may not be the best stock to buy. So take a peek at this free list of interesting companies with 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,本文将讨论如何使用股本回报率(ROE)来更好地了解企业。通过边做边学的方式,我们将关注净资产收益率,以更好地了解Onewo Inc.(HKG:2602)。
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。简而言之,它是用来评估一家公司相对于其权益资本的盈利能力。
查看我们对Onewo的最新分析
净资产收益率是如何计算的?
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,Onewo的净资产收益率为:
17%=18亿元×11亿元(以截至2022年6月的12个月为基础)。
“回报”指的是一家公司过去一年的收益。这意味着,每1港元的股东权益,该公司就会产生0.17港元的利润。
Onewo的净资产收益率好吗?
确定一家公司是否拥有良好的股本回报率的一个简单方法是将其与所在行业的平均水平进行比较。然而,这种方法只是作为一种粗略的检查,因为在同一行业分类中,公司确实有很大的不同。令人欣喜的是,Onewo的净资产收益率(ROE)高于房地产行业的平均水平(6.8%)。
这就是我们希望看到的。话虽如此,高净资产收益率并不总是意味着高盈利。债务在公司资本结构中的比例较高也可能导致较高的净资产收益率,而较高的债务水平可能是一个巨大的风险。
债务对股本回报率的重要性
大多数公司都需要资金--从某个地方--来增加利润。这些现金可以来自留存收益、发行新股(股权)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,用于增长的债务将提高回报,但不会影响总股本。这将使净资产收益率看起来比不使用债务的情况下更好。
将Onewo的债务和17%的股本回报率结合起来
Onewo没有净债务,这对股东来说是一个积极的消息。它的ROE已经表明它是一家不错的企业,但在我们看来,它已经实现了这一点--而不是借款--这使得它值得进一步考虑。归根结底,当一家公司的债务为零时,它就更有能力抓住未来的增长机会。
结论
股本回报率在比较不同企业的质量时很有用。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。
但净资产收益率只是一个更大的谜题的一部分,因为高质量企业的市盈率往往很高。相对于当前价格反映的利润增长预期,也必须考虑利润可能增长的速度。因此,你可能想查看分析师对该公司预测的免费可视化。
但请注意:Onewo可能不是最值得买入的股票。所以让我们来看看这个免费高净资产收益率和低负债的有趣公司名单。
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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