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Can Zhuhai Huafa Properties Co.,Ltd (SHSE:600325) Improve Its Returns?

Can Zhuhai Huafa Properties Co.,Ltd (SHSE:600325) Improve Its Returns?

珠海华发置业有限公司可以吗, Ltd(上海证券交易所代码:600325)提高了回报?
Simply Wall St ·  01/25 21:45

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 Zhuhai Huafa Properties Co.,Ltd (SHSE:600325).

许多投资者仍在学习分析股票时可能有用的各种指标。本文适用于那些想了解股本回报率(ROE)的人。为了使课程以实用为基础,我们将使用投资回报率来更好地了解珠海华发地产有限公司。, Ltd(上海证券交易所股票代码:600325)。

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。

View our latest analysis for Zhuhai Huafa PropertiesLtd

查看我们对珠海华发地产有限公司的最新分析

How Is ROE Calculated?

ROE 是如何计算的?

ROE can be calculated by using the formula:

ROE 可以通过以下公式计算:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

股本回报率 = 净利润(来自持续经营业务)÷ 股东权益

So, based on the above formula, the ROE for Zhuhai Huafa PropertiesLtd is:

因此,根据上述公式,珠海华发置业有限公司的投资回报率为:

4.1% = CN¥5.0b ÷ CN¥121b (Based on the trailing twelve months to September 2023).

4.1% = 50亿元人民币 ÷ 121亿元人民币(基于截至2023年9月的过去十二个月)。

The 'return' refers to a company's earnings over the last year. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.04 in profit.

“回报” 是指公司去年的收益。另一种看法是,每持有价值1元人民币的股权,公司就能获得0.04元人民币的利润。

Does Zhuhai Huafa PropertiesLtd Have A Good ROE?

珠海华发置业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. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. If you look at the image below, you can see Zhuhai Huafa PropertiesLtd has a lower ROE than the average (5.4%) in the Real Estate industry classification.

可以说,评估公司投资回报率的最简单方法是将其与行业平均水平进行比较。但是,这种方法仅在粗略检查时有用,因为各公司在相同的行业分类中确实存在很大差异。如果你看下图,你可以看到珠海华发置业有限公司的投资回报率低于房地产行业分类中的平均水平(5.4%)。

roe
SHSE:600325 Return on Equity January 26th 2024
SHSE: 600325 股本回报率 2024 年 1 月 26 日

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. A high debt company having a low ROE is a different story altogether and a risky investment in our books. You can see the 4 risks we have identified for Zhuhai Huafa PropertiesLtd by visiting our risks dashboard for free on our platform here.

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,尤其是在公司的杠杆率低的情况下,因为如果公司承担更多债务,这仍有改进的余地。投资回报率低的高负债公司完全是另一回事,对我们的账面来说也是一项风险投资。您可以访问我们的 4 种风险来查看我们为珠海华发置业有限公司确定的四种风险 风险仪表板 在我们的平台上免费使用。

Why You Should Consider Debt When Looking At ROE

为什么在考虑投资回报率时应该考虑债务

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 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.

大多数公司需要来自某个地方的资金来增加利润。投资现金可以来自上一年的利润(留存收益)、发行新股或借款。在前两个案例中,投资回报率将涵盖这种资本用于增长的用途。在后一种情况下,使用债务将提高回报,但不会改变股权。因此,使用债务可以提高投资回报率,尽管可以隐喻地说,暴风雨天气会带来额外的风险。

Zhuhai Huafa PropertiesLtd's Debt And Its 4.1% ROE

珠海华发置业有限公司的债务及其4.1%的投资回报率

It's worth noting the high use of debt by Zhuhai Huafa PropertiesLtd, leading to its debt to equity ratio of 1.23. The combination of a rather low ROE and significant use of debt is not particularly appealing. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.

值得注意的是,珠海华发置业有限公司大量使用债务,导致其负债权益比率为1.23。相当低的投资回报率和大量使用债务相结合并不是特别有吸引力。债务会增加风险,减少公司未来的选择,因此您通常希望从使用债务中获得丰厚的回报。

Conclusion

结论

Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. In our books, the highest quality companies have high return on equity, despite low debt. 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.

股本回报率是衡量企业创造利润并将其返还给股东的能力的有用指标。在我们的账簿中,尽管负债较低,但质量最高的公司仍具有很高的股本回报率。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,我通常更喜欢投资回报率更高的公司。

But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. 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.

但是投资回报率只是更大难题中的一部分,因为高质量的企业通常以高倍的收益进行交易。与股票价格所反映的预期相比,利润增长率尤其值得考虑。因此,你可能想看看这张数据丰富的公司预测交互式图表。

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.

如果你更愿意去另一家公司——一家财务状况可能优越的公司——那么千万不要错过这份免费的股本回报率高、债务低的有趣公司的名单。

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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.

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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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