Can C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Maintain Its Strong Returns?
Can C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) Maintain Its Strong Returns?
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 C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW).
许多投资者仍在了解有用的各种指标来分析股票。本文是为那些想学习ROE(Return On Equity)的人而写的。通过学以致用，我们将研究ROE以更好地了解罗宾逊物流行业板块（NASDAQ: CHRW）。
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. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE（净资产收益率）是股东需考虑的一个重要因素，因为它告诉他们资本被有效地再投资的效果如何。换句话说，它揭示了公司将股东的投资转化为利润的成功程度。
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 C.H. Robinson Worldwide is:
因此，根据上述公式，罗宾逊物流的ROE为：
21% = US$303m ÷ US$1.4b (Based on the trailing twelve months to March 2024).
21％= 3.03亿美元 ÷ 14亿美元（截至2024年3月的过去十二个月）。
The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.21 in profit.
“回报”是过去12个月纳税后获得的收益。另一种思考方式是对于每1美元的资产净值，公司能够获得0.21美元的利润。
Does C.H. Robinson Worldwide Have A Good ROE?
罗宾逊物流的ROE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. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. As you can see in the graphic below, C.H. Robinson Worldwide has a higher ROE than the average (12%) in the Logistics industry.
一个简单的方法来判断一家公司是否拥有良好的股东权益回报率是将其与同行业平均水平进行比较。但是，这种方法只能作为大致检查的工具，因为同一行业分类中的公司差异相当大。如下图所示，罗宾逊物流的ROE高于物流行业的平均水平（12％）。
That's clearly a positive. Bear in mind, a high ROE doesn't always mean superior financial performance. 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. Our risks dashboardshould have the 3 risks we have identified for C.H. Robinson Worldwide.
这显然是一个积极的信号。请记住，高ROE并不总是意味着卓越的财务绩效。特别是当公司使用高比例的债务来融资其债务时，可能会提高其ROE，但高杠杆会使公司面临风险。我们的风险仪表板应该列出了我们为罗宾逊物流标识的3种风险。
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. 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. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
公司通常需要投资来增加利润。资金可以来自保留收益，发行新股（股权）或债务。在前两种选择的情况下，ROE将反映出这种用于增长的现金。在后一种情况下，用于增长的债务将提高回报，但不会影响总权益。通过这种方式，虽然企业的核心经济学保持不变，但债务的使用将提高ROE。
C.H. Robinson Worldwide's Debt And Its 21% ROE
罗宾逊物流的债务和其21％的ROE
It's worth noting the high use of debt by C.H. Robinson Worldwide, leading to its debt to equity ratio of 1.19. 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 increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.
值得注意的是，罗宾逊物流使用的债务较高，导致其债务股本比为1.19。尽管其ROE令人满意，但值得记住的是，公司可以使用的债务通常是有限的。债务增加了风险，并减少了公司未来的选择，因此您通常会希望从中获得一些良好的回报。
Conclusion
结论
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. If two companies have the same ROE, then I would generally prefer the one with less debt.
ROE是评估企业能否创造利润并将其返还给股东的有用指标。在我们的清单中，最高品质的公司具有高回报率，尽管负债较低。如果两家公司的ROE相同，那么我通常更喜欢负债较小的公司。
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. 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 take a peek at this data-rich interactive graph of forecasts for the company.
尽管如此，虽然ROE是业务质量的一个有用指标，但您需要查看一整套因素来确定正确的股票购买价格。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，您可能需要查看这个数据丰富的交互式预测图。
Of course C.H. Robinson Worldwide 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，罗宾逊物流可能不是最好的股票买入选择。因此，您可能希望查看其他股票的免费收藏，这些股票具有较高的ROE和较低的债务。
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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？对内容感到担忧？请直接与我们联系。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？对内容感到担忧？请直接与我们联系。或者，发送电子邮件至editorial-team@simplywallst.com。