How Good Is Lead Real Estate Co., Ltd (NASDAQ:LRE), When It Comes To ROE?
How Good Is Lead Real Estate Co., Ltd (NASDAQ:LRE), When It Comes To 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 Lead Real Estate Co., Ltd (NASDAQ:LRE).
雖然一些投資者已經精通財務指標（致敬），但本文是爲那些想了解權益回報率（ROE）及其重要性的人而寫。爲了使課程更加貼近實際業務，我們將利用ROE來更好地了解主要房地產有限公司（納斯達克：LRE）。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股本回報率或roe是評估公司管理層如何有效利用公司資本的關鍵指標。簡而言之，ROE顯示每美元股東投資所產生的利潤。
How To Calculate Return On Equity?
如何計算股東權益報酬率？
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤（從持續經營中獲得）÷ 股東權益
So, based on the above formula, the ROE for Lead Real Estate is:
因此，根據上述公式，Lead Real Estate的ROE爲：
12% = JP¥463m ÷ JP¥3.7b (Based on the trailing twelve months to December 2023).
12% = JP¥463m ÷ JP¥3.7b（根據截至2023年12月的最近十二個月計算）。
The 'return' is the amount earned after tax over the last twelve months. That means that for every $1 worth of shareholders' equity, the company generated $0.12 in profit.
“回報”是指過去十二個月稅後所賺取的金額。這意味着對於每美元股東權益，公司創造了0.12美元的利潤。
Does Lead Real Estate Have A Good ROE?
Lead Real Estate的ROE好嗎？
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 Lead Real Estate has an ROE that is roughly in line with the Consumer Durables industry average (15%).
通過將公司的ROE與其行業平均值進行比較，我們可以快速衡量其優劣。但這並不是完美的衡量指標，因爲即使在同一行業分類中，公司也有很大的差異。下圖顯示Lead Real Estate的ROE與消費品耐用品行業平均值（15%）大致相當。
That isn't amazing, but it is respectable. While at least the ROE is not lower than the industry, its still worth checking what role the company's debt plays as high debt levels relative to equity may also make the ROE appear high. If true, then it is more an indication of risk than the potential. Our risks dashboardshould have the 4 risks we have identified for Lead Real Estate.
雖然不算驚人，但是也值得尊敬。雖然ROE至少不低於行業平均水平，但仍值得檢查公司的債務扮演了什麼角色，因爲高債務水平與權益相比可能會使ROE顯得高。如果是真的，那麼這更多是風險的指示而不是潛力。我們的風險控制面板應該顯示了我們爲Lead Real Estate確定的四個風險。
The Importance Of Debt To Return On Equity
債務對股本回報率的重要性
Companies usually need to invest money to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the first and second cases, the ROE will reflect this use of cash for investment in the business. 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.
公司通常需要投資以增加利潤。資金可以來自發行股票、保留收益或債務。在前兩種情況下，ROE將反映這種用於投資業務的現金使用情況。在後一種情況下，用於增長的債務將提高回報，但不會影響總股本。這將使ROE看起來比不使用債務要好。
Combining Lead Real Estate's Debt And Its 12% Return On Equity
結合主要房地產的債務和其12％的ROE
We think Lead Real Estate uses a significant amount of debt to maximize its returns, as it has a significantly higher debt to equity ratio of 3.25. Its ROE is decent, but once I consider all the debt, I'm not really impressed.
我們認爲主要房地產使用大量債務來最大化其回報率，因爲其負債股本比率明顯更高，達到3.25。其ROE不錯，但一旦我考慮所有的債務，我並不是真的印象深刻。
Summary
總的來說，我們對偉明環保的表現非常滿意。具體而言，我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然，這導致公司的收益大幅增長。但是，最新的行業分析師預測表明，該公司的收益預計將加速增長。
Return on equity is useful for comparing the quality of different businesses. A company that can achieve a high return on equity without debt could be considered a high quality business. All else being equal, a higher ROE is better.
股本回報率在比較不同企業質量時很有用。一家可以在沒有債務的情況下實現高股本回報率的公司可以被認爲是一家高質量的公司。其他條件相同，股本回報率越高，越好。
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. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So I think it may be worth checking this free this detailed graph of past earnings, revenue and cash flow.
話雖如此，儘管ROE是一項有用的業務質量指標，您仍需要考慮一整套因素來確定購買股票的正確價格。值得注意的是其他因素，例如未來的利潤增長以及未來需要多少投資。因此，我認爲值得查看這份免費的收入、營收和現金流詳細圖表。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
當然，您也可能通過尋找其他地方來找到出色的投資。因此，不妨查看這個有趣公司的免費列表。
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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譯文內容由第三人軟體翻譯。