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Why Shanghai Lujiazui Finance & Trade Zone Development Co.,Ltd. (SHSE:600663) Looks Like A Quality Company
Why Shanghai Lujiazui Finance & Trade Zone Development Co.,Ltd. (SHSE:600663) Looks Like A Quality Company
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. We'll use ROE to examine Shanghai Lujiazui Finance & Trade Zone Development Co.,Ltd. (SHSE:600663), by way of a worked example.
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
Check out our latest analysis for Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd
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 Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd is:
9.3% = CN¥3.5b ÷ CN¥38b (Based on the trailing twelve months to September 2022).
The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.09 in profit.
Does Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd Have A Good ROE?
Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. As is clear from the image below, Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd has a better ROE than the average (4.4%) in the Real Estate industry.
That's clearly a positive. With that said, a high ROE doesn't always indicate high profitability. Aside from changes in net income, a high ROE can also be the outcome of high debt relative to equity, which indicates risk. To know the 3 risks we have identified for Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd visit our risks dashboard for free.
How Does Debt Impact ROE?
Virtually all companies need money to invest in the business, to grow 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 debt required for growth will boost returns, but will not impact the shareholders' equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
Combining Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd's Debt And Its 9.3% Return On Equity
Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.60. With a fairly low ROE, and significant use of debt, it's hard to get excited about this business at the moment. 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.
Conclusion
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 around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.
But when a business is high quality, the market often bids it up to a price that reflects this. 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 I think it may be worth checking this free report on analyst forecasts for the company.
Of course Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd 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.
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. We'll use ROE to examine Shanghai Lujiazui Finance & Trade Zone Development Co.,Ltd. (SHSE:600663), by way of a worked example.
尽管一些投资者已经精通财务指标(帽子小贴士),但本文适用于那些想了解股本回报率(ROE)及其重要性的人。我们将使用ROE来检查上海陆家嘴金融贸易区开发有限公司。,Ltd.(上海证券交易所:600663),举一个可行的例子。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股本回报率或投资回报率是股东需要考虑的重要因素,因为它可以告诉他们资本再投资的有效性。简而言之,它衡量公司相对于股东权益的盈利能力。
Check out our latest analysis for Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd
查看我们对上海陆家嘴金融贸易区开发有限公司的最新分析
How To Calculate Return On Equity?
如何计算股本回报率?
The formula for return on equity is:
这个 股本回报率公式 是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润(来自持续经营)≥ 股东权益
So, based on the above formula, the ROE for Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd is:
因此,根据上述公式,上海陆家嘴金融贸易区开发有限公司的投资回报率为:
9.3% = CN¥3.5b ÷ CN¥38b (Based on the trailing twelve months to September 2022).
9.3% = 35亿人民币 ÷ 38亿人民币(基于截至2022年9月的过去十二个月)。
The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.09 in profit.
“回报” 是过去十二个月的税后收入。另一种思考方式是,公司每拥有价值1元人民币的股权,就能获得0.09元的利润。
Does Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd Have A Good ROE?
上海陆家嘴金融贸易区开发有限公司的投资回报率是否良好?
Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. As is clear from the image below, Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd has a better ROE than the average (4.4%) in the Real Estate industry.
可以说,评估公司投资回报率的最简单方法是将其与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的不同,即使在相同的行业分类中也是如此。从下图可以清楚地看出,上海陆家嘴金融贸易区开发有限公司的投资回报率高于房地产行业的平均水平(4.4%)。
That's clearly a positive. With that said, a high ROE doesn't always indicate high profitability. Aside from changes in net income, a high ROE can also be the outcome of high debt relative to equity, which indicates risk. To know the 3 risks we have identified for Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd visit our risks dashboard for free.
这显然是积极的。话虽如此,高投资回报率并不总是表示高盈利能力。除了净收入的变化外,较高的投资回报率也可能是相对于股权的高负债的结果,这表明了风险。要了解我们为上海陆家嘴金融贸易区开发有限公司确定的三种风险,请免费访问我们的风险控制面板。
How Does Debt Impact ROE?
债务如何影响投资回报率?
Virtually all companies need money to invest in the business, to grow 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 debt required for growth will boost returns, but will not impact the shareholders' equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
实际上,所有公司都需要资金来投资业务,以增加利润。这些现金可以来自发行股票、留存收益或债务。就第一和第二种选择而言,投资回报率将反映出现金的使用情况,以实现增长。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。通过这种方式,债务的使用将提高投资回报率,尽管企业的核心经济状况保持不变。
Combining Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd's Debt And Its 9.3% Return On Equity
合并上海陆家嘴金融贸易区开发有限公司的债务及其9.3%的股本回报率
Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.60. With a fairly low ROE, and significant use of debt, it's hard to get excited about this business at the moment. 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.
上海陆家嘴金融贸易区开发有限公司确实使用大量债务来增加回报。它的债务与权益比率为1.60。由于投资回报率相当低,债务使用量很大,目前很难对这项业务感到兴奋。投资者应仔细考虑如果一家公司无法如此轻松地借款,其表现会如何,因为信贷市场确实会随着时间的推移而发生变化。
Conclusion
结论
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 around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.
股本回报率是我们可以比较不同公司的业务质量的一种方式。能够在不负债过多的情况下获得高股本回报的公司通常质量很好。如果两家公司的债务与股权比率大致相同,而一家公司的投资回报率更高,那么我通常更喜欢投资回报率更高的那家公司。
But when a business is high quality, the market often bids it up to a price that reflects this. 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 I think it may be worth checking this free report on analyst forecasts for the company.
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。还必须考虑利润可能增长的速度,相对于当前价格所反映的利润增长预期。所以我认为这可能值得一试 免费的 分析师对公司的预测报告。
Of course Shanghai Lujiazui Finance & Trade Zone DevelopmentLtd 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.
当然 上海陆家嘴金融贸易区开发有限公司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。
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.
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。 我们仅使用公正的方法提供基于历史数据和分析师预测的评论,我们的文章无意提供财务建议。 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。
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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