Based On Its ROE, Is Vertiv Holdings Co (NYSE:VRT) A High Quality Stock?
Based On Its ROE, Is Vertiv Holdings Co (NYSE:VRT) A High Quality Stock?
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). We'll use ROE to examine Vertiv Holdings Co (NYSE:VRT), by way of a worked example.
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。我们将使用投资回报率来考察Vertiv Holdings Co（纽约证券交易所代码：VRT），举一个可行的例子。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
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。简而言之，它用于评估公司相对于其股权资本的盈利能力。
Check out our latest analysis for Vertiv Holdings Co
查看我们对 Vertiv Holdings Co的最新分析
How Do You Calculate Return On Equity?
你如何计算股本回报率？
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 Vertiv Holdings Co is:
因此，根据上述公式，Vertiv Holdings Co.的投资回报率为：
11% = US$181m ÷ US$1.7b (Based on the trailing twelve months to June 2023).
11% = 1.81亿美元 ^17亿美元（基于截至2023年6月的过去十二个月）。
The 'return' is the income the business earned over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.11.
“回报” 是企业去年获得的收入。因此，这意味着其股东每投资1美元，公司就会产生0.11美元的利润。
Does Vertiv Holdings Co Have A Good ROE?
Vertiv Holdings Co 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. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. As is clear from the image below, Vertiv Holdings Co has a lower ROE than the average (16%) in the Electrical 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平均水平进行比较。重要的是，这远非一个完美的衡量标准，因为在相同的行业分类中，公司差异很大。从下图中可以明显看出，Vertiv Holdings Co的投资回报率低于电气行业的平均水平（16％）。
That's not what we like to see. However, a low ROE is not always bad. If the company's debt levels are moderate to low, then there's still a chance that returns can be improved via the use of financial leverage. A company with high debt levels and low ROE is a combination we like to avoid given the risk involved. You can see the 2 risks we have identified for Vertiv Holdings Co by visiting our risks dashboard for free on our platform here.
这不是我们喜欢看到的。但是，低投资回报率并不总是坏事。如果公司的债务水平处于中等至低水平，那么仍然有可能通过使用财务杠杆来提高回报。考虑到所涉及的风险，高债务水平和低投资回报率的公司是我们希望避免的组合。您可以访问我们的 Vertiv Holdings Co. 了解我们为维捷控股公司确定的两种风险 风险仪表板 在我们的平台上免费使用。
The Importance Of Debt To Return On Equity
债务对股本回报率的重要性
Most companies need money -- from somewhere -- to grow their profits. That cash can come from retained earnings, issuing new shares (equity), 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 required for growth will boost returns, but will not impact the shareholders' 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。这些现金可能来自留存收益、发行新股（股权）或债务。在第一种和第二种情况下，投资回报率将反映这种使用现金投资业务的情况。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。因此，使用债务可以提高投资回报率，尽管比喻地说，暴风雨天气会带来额外的风险。
Vertiv Holdings Co's Debt And Its 11% ROE
Vertiv Holdings Co. 的债务及其11％的投资回报率
Vertiv Holdings Co does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.78. Its ROE is quite low, even with the use of significant debt; that's not a good result, in our opinion. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.
Vertiv Holdings Co确实使用了大量债务来增加回报。它的债务权益比率为1.78。即使使用了巨额债务，其投资回报率也相当低；在我们看来，这不是一个好结果。债务确实会带来额外的风险，因此，只有当一家公司从中获得可观的回报时，债务才是真正值得的。
Summary
摘要
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. 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。在我们的账簿中，尽管债务很低，但质量最高的公司的股本回报率却很高。在其他条件相同的情况下，更高的投资回报率更好。
But when a business is high quality, the market often bids it up to a price that reflects this. Profit growth rates, versus the expectations reflected in the price of the stock, are a particularly important to consider. 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。与股票价格所反映的预期相比，利润增长率尤其值得考虑。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 Vertiv Holdings Co 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 Vertiv Holdings Co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。
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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，我们的分析可能不考虑最新的价格敏感公司公告或定性材料。简而言之，华尔街在上述任何股票中都没有头寸。