AMN Healthcare Services, Inc. (NYSE:AMN) Delivered A Better ROE Than Its Industry
AMN Healthcare Services, Inc. (NYSE:AMN) Delivered A Better ROE Than Its Industry
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. By way of learning-by-doing, we'll look at ROE to gain a better understanding of AMN Healthcare Services, Inc. (NYSE:AMN).
我们能做的最好的投资之一是我们自己的知识和技能。考虑到这一点，本文将探讨如何使用股本回报率（ROE）来更好地了解业务。通过边干边学的方式，我们将研究投资回报率，以更好地了解AMN医疗服务公司（纽约证券交易所代码：AMN）。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
投资回报率或股本回报率是评估公司如何有效地从股东那里获得投资回报的有用工具。简而言之，投资回报率显示了每美元从其股东投资中产生的利润。
How Is ROE Calculated?
ROE 是如何计算的？
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 AMN Healthcare Services is:
因此，根据上述公式，AMN医疗服务的投资回报率为：
17% = US$144m ÷ US$854m (Based on the trailing twelve months to March 2024).
17% = 1.44亿美元 ÷ 8.54亿美元（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 $0.17 in profit.
“回报” 是企业在过去一年中获得的收入。这意味着，每获得价值1美元的股东权益，该公司就会产生0.17美元的利润。
Does AMN Healthcare Services Have A Good ROE?
AMN 医疗保健服务有良好的投资回报率吗？
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. As is clear from the image below, AMN Healthcare Services has a better ROE than the average (11%) in the Healthcare industry.
确定公司股本回报率是否不错的一种简单方法是将其与该行业的平均水平进行比较。这种方法的局限性在于，有些公司与其他公司有很大不同，即使在相同的行业分类中也是如此。从下图中可以清楚地看出，AMN医疗服务的投资回报率高于医疗保健行业的平均水平（11％）。
That is a good sign. However, bear in mind that a high ROE doesn't necessarily indicate efficient profit generation. Aside from changes in net income, a high ROE can also be the outcome of high debt relative to equity, which indicates risk. To know the 2 risks we have identified for AMN Healthcare Services visit our risks dashboard for free.
这是一个好兆头。但是，请记住，高投资回报率并不一定意味着有效的利润创造。除了净收入的变化外，较高的投资回报率也可能是高债务相对于股本的结果，这表明存在风险。要了解我们为AMN医疗保健服务确定的两种风险，请免费访问我们的风险仪表板。
The Importance Of Debt To Return On Equity
债务对股本回报率的重要性
Companies usually need to invest money to grow their profits. That cash can come from issuing shares, retained earnings, or debt. In the first two cases, the ROE will capture this use of capital to grow. In the latter case, the use of debt will improve the returns, but will not change the equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.
公司通常需要投资来增加利润。这些现金可能来自发行股票、留存收益或债务。在前两个案例中，投资回报率将利用这种资本来增长。在后一种情况下，使用债务将提高回报，但不会改变权益。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。
AMN Healthcare Services' Debt And Its 17% ROE
AMN 医疗保健服务的债务及其17％的投资回报率
It's worth noting the high use of debt by AMN Healthcare Services, leading to its debt to equity ratio of 1.49. 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.
值得注意的是，AMN Healthcare Services大量使用债务，导致其债务权益比率为1.49。尽管其投资回报率可观，但值得记住的是，公司可以使用多少债务通常是有限制的。债务确实会带来额外的风险，因此只有当公司从中获得可观的回报时，债务才是真正值得的。
Conclusion
结论
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. If two companies have around the same level of debt to equity, and one has a higher ROE, I'd generally prefer the one with higher ROE.
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。如果两家公司的债务与股权比率大致相同，而一家公司的投资回报率更高，那么我通常更喜欢投资回报率更高的那家公司。
Having said that, while ROE is a useful indicator of business quality, you'll have to look at a whole range of factors to determine the right price to buy a stock. 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.
话虽如此，尽管投资回报率是衡量业务质量的有用指标，但您必须考虑一系列因素才能确定购买股票的正确价格。与股票价格所反映的预期相比，利润增长率尤其需要考虑。因此，我认为可能值得查看这份关于分析师对公司的预测的免费报告。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
当然，通过寻找其他地方，你可能会找到一笔不错的投资。因此，来看看这份有趣的公司的免费清单吧。
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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。
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