Is Deluxe Corporation's (NYSE:DLX) ROE Of 5.0% Concerning?
Is Deluxe Corporation's (NYSE:DLX) ROE Of 5.0% Concerning?
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). By way of learning-by-doing, we'll look at ROE to gain a better understanding of Deluxe Corporation (NYSE:DLX).
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。通过边干边学,我们将研究投资回报率,以更好地了解Deluxe Corporation(纽约证券交易所代码:DLX)。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. 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股东需要考虑的重要因素,因为它可以告诉他们资本再投资的有效性。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 Deluxe
查看我们对 Deluxe 的最新分析
How Do You Calculate Return On Equity?
你如何计算股本回报率?
The formula for ROE is:
ROE 的公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润(来自持续经营业务)÷ 股东权益
So, based on the above formula, the ROE for Deluxe is:
因此,根据上述公式,豪华版的投资回报率为:
5.0% = US$30m ÷ US$599m (Based on the trailing twelve months to September 2023).
5.0% = 3000万美元 ¥5.99亿美元(基于截至2023年9月的过去十二个月)。
The 'return' is the income the business earned over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.05 in profit.
“回报” 是企业去年获得的收入。将其概念化的一种方法是,每持有1美元的股东资本,公司就会获得0.05美元的利润。
Does Deluxe Have A Good ROE?
豪华版有不错的投资回报率吗?
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. As is clear from the image below, Deluxe has a lower ROE than the average (8.1%) in the Commercial Services 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。但是,这种方法只能作为粗略的检查才有用,因为在同一个行业分类中,公司的确存在很大差异。从下图可以清楚地看出,Deluxe的投资回报率低于商业服务行业的平均水平(8.1%)。
![roe](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231205/0-11cebf539a08a9f8235147b1a2421709-0-ae19b264264bad7adcc1881d73374b39.png/big)
That's not what we like to see. 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. You can see the 4 risks we have identified for Deluxe by visiting our risks dashboard for free on our platform here.
这不是我们喜欢看到的。话虽如此,较低的投资回报率并不总是一件坏事,尤其是在公司的杠杆率较低的情况下,因为如果公司承担更多债务,这仍有改善的余地。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。您可以通过访问我们的 Deluxe 来查看我们为 Deluxe 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
Companies usually need to invest money to grow their 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 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.
公司通常需要投资以增加利润。这些现金可以来自留存收益、发行新股(股权)或债务。就第一和第二种选择而言,投资回报率将反映现金的使用情况,以实现增长。在后一种情况下,用于增长的债务将提高回报,但不会影响总净值。这将使投资回报率看起来比不使用债务时更好。
Deluxe's Debt And Its 5.0% ROE
Deluxe的债务及其5.0%的投资回报率
Deluxe clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 2.72. Its ROE is quite low, even with the use of significant debt; that's not a good result, in our opinion. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.
Deluxe显然使用大量债务来提高回报,因为它的负债权益比率为2.72。即使使用了大量债务,它的投资回报率也相当低;在我们看来,这不是一个好结果。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一些丰厚的回报。
Summary
摘要
Return on equity is one way we can compare its business quality of different companies. 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.
股本回报率是我们可以比较不同公司的业务质量的一种方式。能够在没有债务的情况下实现高股本回报率的公司可以被视为高质量的企业。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. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So you might want to check this FREE visualization of 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。重要的是要考虑其他因素,例如未来的利润增长,以及未来需要多少投资。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: Deluxe 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:豪华可能不是最值得购买的股票。因此,来看看这份免费列出的投资回报率高、债务低的有趣公司的名单。
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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。