Boasting A 17% Return On Equity, Is Nexstar Media Group, Inc. (NASDAQ:NXST) A Top Quality Stock?
Boasting A 17% Return On Equity, Is Nexstar Media Group, Inc. (NASDAQ:NXST) A Top Quality Stock?
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. We'll use ROE to examine Nexstar Media Group, Inc. (NASDAQ:NXST), by way of a worked example.
我们能够做出的最好投资之一就是投资我们自己的知识和技能。有了这个想法,本文将通过一个案例来演示如何使用股东权益回报率(ROE)更好地了解业务。我们将以Nexstar Media Group, Inc.(纳斯达克:NXST)为例,通过一个案例来使用ROE进行审计。
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 other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
roe,即净资产收益率,是一种评估公司如何有效地从股东手中获取投资回报的有用工具。换句话说,它是一种盈利能力比率,衡量公司股东提供的资本的回报率。
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 Nexstar Media Group is:
因此,根据上述公式,Nexstar Media Group的ROE为:
17% = US$380m ÷ US$2.3b (Based on the trailing twelve months to June 2024).
17%= 3.8亿美元÷ 23亿美元(基于截至2024年6月的过去十二个月)。
The 'return' refers to a company's earnings over the last year. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.17.
'收益'是指公司在过去一年内的收益。因此,这意味着对于每$1的股东投资,公司产生$0.17的利润。
Does Nexstar Media Group Have A Good Return On Equity?
Nexstar Media Group是否具有良好的股东权益回报率?
Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. As you can see in the graphic below, Nexstar Media Group has a higher ROE than the average (13%) in the Media industry.
可以说,评估公司ROE的最简单方法是将其与所在行业的平均水平进行比较。但很明显,这远非完美的衡量标准,因为即使在同一行业分类中,公司之间也存在显著差异。正如下图所示,Nexstar Media Group的ROE高于媒体行业的平均水平(13%)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240814/0-c69581c32b2f58a1564e067b77b5d715-0-b56a7fd410af29c5b276552d57701465.png/big)
That's clearly a positive. 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. Our risks dashboardshould have the 2 risks we have identified for Nexstar Media Group.
这显然是一个积极的方面。尽管如此,高ROE并不总是意味着高盈利能力,特别是当企业利用高杠杆水平来融资债务,这可能会提高其ROE,但高杠杆水平会让公司面临风险。我们的风险面板应该有我们已经为Nexstar Media Group确定的两个风险。
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 two cases, the ROE will capture this use of capital to grow. In the latter case, the debt required for growth will boost returns, but will not impact the shareholders' equity. That will make the ROE look better than if no debt was used.
公司通常需要投资资金才能增加利润。投资的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将捕捉这种使用资本来增长的情况。在后一种情况下,为了增长而需要的债务会提高回报,但不会影响股东权益。 这将使ROE看起来比如果没有使用债务要好。
Nexstar Media Group's Debt And Its 17% ROE
Nexstar Media Group的债务及其17%的ROE
Nexstar Media Group clearly uses a high amount of debt to boost returns, as it has a debt to equity ratio of 2.97. There's no doubt its ROE is decent, but the very high debt the company carries is not too exciting to see. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.
很明显,Nexstar Media Group通过使用大量债务来提高回报率,因为其负债股本比为2.97。毫无疑问,它的ROE不错,但公司承担的非常高的债务并不是令人兴奋的事情。当公司从中获得一些不错的回报时,债务确实带来了额外的风险。
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. 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.
股本回报率是衡量企业盈利能力,并将其利润分配给股东的一项有用指标。在我们的清单中,高质量的公司股本回报率高,债务压力不大。如果两家公司的债务资本比大致相同,并且一家公司的ROE更高,则我通常更喜欢具有较高ROE的公司。
But when a business is high quality, the market often bids it up to a price that reflects this. 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.
但是,当一个公司的质量很高时,市场经常会将其竞价上涨以反映这一点。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公司预测的交互式图。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
当然,您也可能通过寻找其他地方来找到出色的投资。因此,不妨查看这个有趣公司的免费列表。
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.
对本文有任何反馈?对内容有任何疑虑?请直接与我们联系。或者,发送电子邮件至editorial-team@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。