Why Insulet Corporation (NASDAQ:PODD) Looks Like A Quality Company
Why Insulet Corporation (NASDAQ:PODD) Looks Like A Quality Company
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 Insulet Corporation (NASDAQ:PODD).
当分析一支股票时，很多投资者仍在学习各种有用的指标。本文是给那些想要了解股票回报率（ROE）的人。通过学以致用，我们将研究ROE，以更好地了解Insulet Corporation（NASDAQ：PODD）的情况。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股东权益回报率ROE是测试公司增值能力和管理股东投资的有效性的指标。更简单地说，它衡量公司在股东权益中的盈利能力。
How Is ROE Calculated?
净资产收益率怎么计算？
ROE can be calculated by using the formula:
净资产收益率可以使用以下公式进行计算：
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 Insulet is:
因此，根据上述公式，Insulet的ROE为:
30% = US$234m ÷ US$791m (Based on the trailing twelve months to March 2024).
30%=2.34亿美元÷7.91亿美元（截至2024年3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 $0.30.
“回报率”是企业上一年度的收益。这意味着，对于每1美元的股东投资，公司创造了0.30美元的利润。
Does Insulet Have A Good Return On Equity?
Insulet的回报率良好吗？
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, Insulet has a superior ROE than the average (11%) in the Medical Equipment industry.
判断一个公司的回报率是否良好的一个简单方法是将其与行业平均水平进行比较。这种方法的局限性在于，即使在同一行业中，有些公司也可能与其他公司非常不同。令人高兴的是，Insulet的ROE（11％）高于医疗设备行业的平均水平。
That is a good sign. With that said, a high ROE doesn't always indicate high profitability. Especially when a firm uses high levels of debt to finance its debt which may boost its ROE but the high leverage puts the company at risk. You can see the 2 risks we have identified for Insulet by visiting our risks dashboard for free on our platform here.
这是一个好兆头。尽管如此，高的ROE并不总是意味着高的盈利能力。特别是当一家公司使用高负债水平来融资其债务时，虽然高杠杆会提高ROE，但高杠杆会将公司置于风险之中。您可以通过访问我们的网站了解我们已识别出的两个Insulet风险。风险仪表板在浏览完所有相关因素确定股票购买价格后，ROE是一个有用的公司质量指标。此外，还需要考虑其他因素，例如未来盈利增长以及未来需要投入多少投资。因此，我认为值得查看这份免费的详细收益、营收和现金流图表。
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？
Most companies need money -- from somewhere -- 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 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.
大多数公司需要资金才能增加其利润。投资所需的现金可以来自前年的利润（保留收益），发行新股或借债等方式。在第一种和第二种情况下，ROE将反映这些用于投资的现金的使用方式。在后一种情况下，用于增长的债务将改善收益，但不会影响总股本。这将使ROE看起来比未使用债务时更好。
Insulet's Debt And Its 30% ROE
Insulet的债务和其30％的ROE
It's worth noting the high use of debt by Insulet, leading to its debt to equity ratio of 1.77. Its ROE is pretty impressive but, it would have probably been lower without the use of debt. Investors should think carefully about how a company might perform if it was unable to borrow so easily, because credit markets do change over time.
值得注意的是，Insulet高额使用债务，导致其负债权益比为1.77。其ROE非常出色，但如果没有使用债务，它可能会更低。投资者应仔细考虑一家公司如果不能轻易借到债务会表现如何，因为信贷市场确实随时间变化。
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 useful for comparing the quality of different businesses. 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.
股本回报率有助于比较不同企业的质量。能够在不太多债务的情况下实现高roe的公司通常都是高质量的。如果两家公司的roe相同，则我通常更喜欢那家负债较少的公司。
But when a business is high quality, the market often bids it up to a price that reflects this. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to check this FREE visualization of analyst forecasts for the company.
但是，当一个公司业务高品质时，市场通常会将其推高到反映这一点的价格。应该考虑利润增长的速度，相对于当前价格反映的利润增长预期的速度。因此，您可能希望检查这家公司的分析师预测的免费可视化效果。
Of course Insulet 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，Insulet可能不是最好的购买股票。因此，您可能希望查看其他具有高ROE和低债务的公司的免费收藏。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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。