Should You Be Impressed By GE HealthCare Technologies Inc.'s (NASDAQ:GEHC) ROE?
Should You Be Impressed By GE HealthCare Technologies Inc.'s (NASDAQ:GEHC) ROE?
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 GE HealthCare Technologies Inc. (NASDAQ:GEHC).
我们可以从自己的知识和技能方面进行最佳的投入之一。考虑到这一点，本文将通过ROE更好地理解业务。通过实践学习，我们将看看ROE以更好地了解GE医疗技术公司（纳斯达克：GEHC）。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
净资产收益率（ROE）是衡量公司增值和管理投资者资金有效性的测试。换句话说，它是一种盈利能力比率，用于衡量公司股东提供的资金回报率。
How To Calculate Return On Equity?
如何计算股东权益报酬率？
The formula for ROE is:
roe的公式是：
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 GE HealthCare Technologies is:
因此，基于上述公式，GE HealthCare Technologies的ROE为：
21% = US$1.6b ÷ US$7.6b (Based on the trailing twelve months to March 2024).
21% = 16亿美元 ÷ 76亿美元（截至2024年3月）。
The 'return' is the yearly profit. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.21 in profit.
回报是每年的利润。另一种思考方式是，对于每1美元的净资产，该公司能够赚取0.21美元的利润。
Does GE HealthCare Technologies Have A Good Return On Equity?
GE医疗技术有良好的ROE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. 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, GE HealthCare Technologies has a higher ROE than the average (11%) in the Medical Equipment industry.
确定公司是否具有良好的股东权益回报的一个简单方法是将其与行业平均水平进行比较。但是，此方法只用作大致检查，因为公司在同一行业分类中确实存在相当大的差异。从下面的图表中可以看出，GE医疗技术在医疗设备行业的ROE高于平均水平（11％）
That's clearly a positive. Bear in mind, a high ROE doesn't always mean superior financial performance. Aside from changes in net income, a high ROE can also be the outcome of high debt relative to equity, which indicates risk.
这显然是一个积极的变化。请记住，高ROE并不总是意味着优异的财务业绩。除了净利润的变化之外，高ROE还可能是相对于股本的高债务的结果，这表明存在风险。
How Does Debt Impact Return On Equity?
债务如何影响股东回报率？
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 case of the first and second options, the ROE will reflect this use of cash, for growth. In the latter case, the use of debt will improve the returns, but will not change the equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
通常，公司需要投资资金来增加利润。投资资金可以来自前年的利润（保留收益），发行新股或借款。在前两种情况下，ROE将反映这种用于增长的现金使用。在后一种情况下，债务的使用将提高回报，但不会改变股本。以这种方式使用债务将提高ROE，即使业务的基本经济学仍然相同。
GE HealthCare Technologies' Debt And Its 21% ROE
GE医疗技术的债务和其21％的ROE
GE HealthCare Technologies does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.22. While its ROE is pretty respectable, the amount of debt the company is carrying currently is not ideal. Debt increases risk and reduces options for the company in the future, so you generally want to see some good returns from using it.
GE医疗技术确实使用了大量的债务来提高回报。其债务与股本比率为1.22。虽然其ROE相当可观，但公司目前承担的债务量并不理想。债务会增加风险并减少公司在未来的选择，因此您通常希望看到一些良好的回报。
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 one way we can compare its business quality of different companies. In our books, the highest quality companies have high return on equity, despite low debt. 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.
股本收益率是我们可以比较不同公司业务质量的一种方式。在我们书中，具有高股本收益率的最高质量公司，尽管负债率低。如果两家公司的负债与股权水平大致相同，并且其中一家公司的ROE更高，我通常会更喜欢ROE更高的公司。
But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. It is important to consider other factors, such as future profit growth -- and how much investment is required going forward. So I think it may be worth checking this free report on analyst forecasts for the company.
但是，ROE只是更大难题的一部分，因为高质量的企业通常以高倍数的收益进行交易。因此，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，我认为值得检查有关该公司分析师预测的免费报告。
Of course GE HealthCare Technologies 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，GE医疗技术可能不是最好的股票购买选择。因此，您可能希望查看此免费收集的其他ROE高而债务低的公司。
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Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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