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Should You Be Concerned About Kanzhun Limited's (NASDAQ:BZ) ROE?
Should You Be Concerned About Kanzhun Limited's (NASDAQ:BZ) ROE?
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. To keep the lesson grounded in practicality, we'll use ROE to better understand Kanzhun Limited (NASDAQ:BZ).
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.
Check out our latest analysis for Kanzhun
How Is ROE Calculated?
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 Kanzhun is:
4.3% = CN¥525m ÷ CN¥12b (Based on the trailing twelve months to September 2022).
The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.04 in profit.
Does Kanzhun 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. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. As shown in the graphic below, Kanzhun has a lower ROE than the average (9.5%) in the Interactive Media and Services industry classification.
Unfortunately, that's sub-optimal. That being said, a low ROE is not always a bad thing, especially if the company has low leverage as this still leaves room for improvement if the company were to take on more debt. When a company has low ROE but high debt levels, we would be cautious as the risk involved is too high. To know the 3 risks we have identified for Kanzhun 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 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 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.
Kanzhun's Debt And Its 4.3% ROE
Kanzhun is free of net debt, which is a positive for shareholders. So although its ROE isn't that impressive, we shouldn't judge it harshly on that metric, because it didn't use debt. After all, when a company has a strong balance sheet, it can often find ways to invest in growth, even if it takes some time.
Conclusion
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. Companies that can achieve high returns on equity without too much debt are generally of good quality. All else being equal, a higher ROE is better.
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. 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: Kanzhun 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.
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. To keep the lesson grounded in practicality, we'll use ROE to better understand Kanzhun Limited (NASDAQ:BZ).
虽然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。为了使教训以实用为基础,我们将使用ROE来更好地了解Kanzhun Limited(纳斯达克股票代码:BZ)。
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.
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。
Check out our latest analysis for Kanzhun
查看我们对 Kanzhun 的最新分析
How Is ROE Calculated?
投资回报率是如何计算的?
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 Kanzhun is:
因此,根据上面的公式,Kanzhun 的投资回报率为:
4.3% = CN¥525m ÷ CN¥12b (Based on the trailing twelve months to September 2022).
4.3% = cn¥525m ≥ cn¥12b(基于截至2022年9月的过去十二个月)。
The 'return' is the profit over the last twelve months. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.04 in profit.
“回报” 是过去十二个月的利润。将其概念化的一种方法是,公司每拥有1美元的股东资本,就会获得0.04美元的利润。
Does Kanzhun Have A Good Return On Equity?
Kanzhun 的股本回报率是否良好?
By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. As shown in the graphic below, Kanzhun has a lower ROE than the average (9.5%) in the Interactive Media and Services industry classification.
通过将公司的投资回报率与行业平均水平进行比较,我们可以快速衡量公司的投资回报率。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。如下图所示,Kanzhun的投资回报率低于互动媒体和服务行业分类中的平均水平(9.5%)。
Unfortunately, that's sub-optimal. That being said, a low ROE is not always a bad thing, especially if the company has low leverage as this still leaves room for improvement if the company were to take on more debt. When a company has low ROE but high debt levels, we would be cautious as the risk involved is too high. To know the 3 risks we have identified for Kanzhun visit our risks dashboard for free.
不幸的是,这并不理想。话虽如此,低投资回报率并不总是一件坏事,尤其是在公司杠杆率低的情况下,因为如果公司要承担更多债务,这仍有改进的余地。当一家公司的投资回报率低但债务水平高时,我们会谨慎行事,因为所涉及的风险太高。要了解我们为 Kanzhun 确定的 3 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 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 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.
几乎所有公司都需要资金来投资业务,以增加利润。这些现金可能来自留存收益、发行新股(股权)或债务。对于第一和第二种选择,投资回报率将反映这种对现金增长的使用。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,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。
Kanzhun's Debt And Its 4.3% ROE
Kanzhun 的债务及其4.3%的投资回报率
Kanzhun is free of net debt, which is a positive for shareholders. So although its ROE isn't that impressive, we shouldn't judge it harshly on that metric, because it didn't use debt. After all, when a company has a strong balance sheet, it can often find ways to invest in growth, even if it takes some time.
Kanzhun 没有净负债,这对股东来说是积极的。因此,尽管它的投资回报率并不那么令人印象深刻,但我们不应该根据这个指标对其进行严厉的评判,因为它没有使用债务。毕竟,当一家公司拥有强劲的资产负债表时,它通常可以找到投资增长的方法,即使这需要一些时间。
Conclusion
结论
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. Companies that can achieve high returns on equity without too much debt are generally of good quality. All else being equal, a higher ROE is better.
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。在其他条件相同的情况下,更高的投资回报率更好。
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. 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.
话虽如此,尽管投资回报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正确价格。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。因此,您可能需要查看该公司的分析师预测的免费可视化效果。
But note: Kanzhun 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.
但请注意: Kanzhun 可能不是最值得买入的股票。所以来看看这个 免费的 投资回报率高、负债低的有趣公司名单。
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。
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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