什么是权益比例？

中文

权益比例，通常称为权益乘数或权益倍数，是衡量一家公司债务相对于其股东权益的指标。它是公司总资产与股东权益之间的比率，用于反映公司的财务杠杆程度。权益比例的计算公式为：权益比例 = 总资产 / 股东权益。

权益比例越高，意味着公司的债务负担越重，相对于股东权益，公司的债务占比较大。这种情况下，公司的财务风险较高，因为需要更多的利润来偿还债务。然而，较高的权益比例也可能意味着公司正在利用财务杠杆来扩大业务规模或进行其他投资活动。

相反，权益比例较低的公司，其债务相对较少，相对于股东权益，公司的资产主要由股东投入的资金构成。这种情况下，公司的财务风险较低，因为债务负担较轻。但较低的权益比例也可能表明公司没有充分利用财务杠杆来增加收益。

投资者在分析公司时，应综合考虑权益比例以及其他财务指标，如盈利能力、偿债能力、运营效率等，以全面了解公司的财务状况和风险水平。

英文

What Is the Equity Ratio?

The equity ratio, often referred to as the equity multiplier or equity leverage, is a metric that measures a company's debt relative to its shareholder's equity. It represents the ratio between a company's total assets and its shareholders' equity, reflecting the level of financial leverage employed by the company. The formula for calculating the equity ratio is: Equity Ratio = Total Assets / Shareholders' Equity.

A higher equity ratio indicates a heavier debt burden for the company, with a larger proportion of debt relative to shareholder's equity. In such cases, the company faces higher financial risk because more profits are required to repay debts. However, a higher equity ratio may also suggest that the company is leveraging its financial position to expand its business scale or undertake other investment activities.

Conversely, companies with a lower equity ratio have relatively less debt, and their assets are primarily funded by shareholder contributions. This situation entails lower financial risk due to the lighter debt burden. However, a lower equity ratio may also indicate that the company is not fully utilizing financial leverage to enhance its earnings.

When analyzing a company, investors should consider the equity ratio alongside other financial metrics, such as profitability, solvency, and operational efficiency, to gain a comprehensive understanding of the company's financial health and risk profile.