Can Belden Inc.'s (NYSE:BDC) ROE Continue To Surpass The Industry Average?
Can Belden Inc.'s (NYSE:BDC) ROE Continue To Surpass The Industry Average?
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 Belden Inc. (NYSE:BDC).
许多投资者正在学习关于股票分析时有用的各种指标，本篇文章是为那些想要学习股本回报率（roe）的投资者编写的。通过实际操作学习，我们将看看roe，以更好地了解百通公司（nyse:bdc）。
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.
股东应考虑的重要因素是净资产收益率或roe，因为它告诉他们投资的资本如何被有效地再投资。简单来说，它用于评估公司与其股权资本相关的盈利能力。
How Is ROE Calculated?
净资产收益率怎么计算？
The formula for return on equity is:
权益回报率的计算公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润（从持续经营中获得）÷ 股东权益
So, based on the above formula, the ROE for Belden is:
因此，基于上述公式，百通公司的roe为：
19% = US$217m ÷ US$1.2b (Based on the trailing twelve months to March 2024).
19％=217百万美元÷12亿美元（基于截至2024年3月的过去十二个月）。
The 'return' is the income the business earned over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.19 in profit.
‘回报’是企业在过去一年内赚取的收入。这意味着对于每1美元的股东权益，公司创造了0.19美元的利润。
Does Belden Have A Good ROE?
百通公司的roe表现如何？
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. Pleasingly, Belden has a superior ROE than the average (9.6%) in the Electronic industry.
确定公司是否有良好的股本回报率的一种简单方法是将其与同一行业的平均水平进行比较。这种方法的局限性在于，即使在同一行业分类中，一些公司也与其他公司非常不同。令人高兴的是，百通公司的roe优于电子行业的平均水平（9.6%）。
That's what we like to see. However, bear in mind that a high ROE doesn't necessarily indicate efficient profit generation. A higher proportion of debt in a company's capital structure may also result in a high ROE, where the high debt levels could be a huge risk . Our risks dashboardshould have the 2 risks we have identified for Belden.
这就是我们喜欢看到的。但是，请记住，高roe并不一定意味着高效的利润生成。公司的资本结构中更高的债务比例也可能导致较高的roe，高债务水平可能带来巨大的风险。我们的风险管理仪表板应标识我们为百通公司确定的2个风险。
Why You Should Consider Debt When Looking At ROE
为什么在观察ROE时你应该考虑债务问题？
Companies usually need to invest money to grow their profits. The cash for investment can come from prior year profits (retained earnings), issuing new shares, or borrowing. 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.
通常，公司需要投资才能增加利润。投资资金可以来自前年的利润（留存收益）、发行新股或借款。在前两种情况下，ROE将反映出这些用于业务投资的现金使用情况。在后一种情况下，用于增长的债务将提高回报，但不会影响股东权益。因此，使用债务可以提高ROE，但使用债务也会带来额外的风险，就像比喻性地说的暴风雨天气一样。
Belden's Debt And Its 19% ROE
百通公司的债务和19%的roe
Belden does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.02. While its ROE is respectable, it is worth keeping in mind that there is usually a limit as to how much debt a company can use. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.
百通公司确实使用大量的债务来提高回报。其资产负债比率为1.02。虽然其roe是可敬的，但值得记住的是，公司可以使用的债务量通常是有限的。负债确实会带来额外的风险，因此只有当公司从中获得一些不错的回报时才真正有价值。
Summary
总的来说，我们对伟明环保的表现非常满意。具体而言，我们喜欢公司以高回报率再投资了其利润的很大一部分。当然，这导致公司的收益大幅增长。但是，最新的行业分析师预测表明，该公司的收益预计将加速增长。
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. Companies that can achieve high returns on equity without too much debt are generally of good quality. If two companies have the same ROE, then I would generally prefer the one with less debt.
股本回报率是评估企业生成利润并将其返还给股东能力的有用指标。能够在不使用过多债务的情况下实现高回报率的公司通常是高质量的公司。如果两家公司具有相同的ROE，那么我通常会更喜欢负债较少的公司。
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 check this FREE visualization of analyst forecasts for the company.
但是roe只是更大难题中的一部分，因为高质量的企业通常以高市盈率交易。考虑到股票价格所反映的预期，利润增长率尤为重要。因此，您可能需要查看该公司分析师预测的免费可视化工具。
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.
如果您想查看另一家具有潜在优越财务状况的公司，则不要错过此具有高ROE和低债务的有趣公司的免费列表。
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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.
对本文有反馈？关于内容有所顾虑？直接和我们联系。或者，发送电子邮件至editorial-team (at) simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论，只使用公正的方法论，我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议，也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。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。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有反馈？关于内容有所顾虑？直接和我们联系。或者发送电子邮件至editorial-team@simplywallst.com。