Is T-Mobile US, Inc.'s (NASDAQ:TMUS) 16% ROE Better Than Average?
Is T-Mobile US, Inc.'s (NASDAQ:TMUS) 16% ROE Better Than Average?
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). To keep the lesson grounded in practicality, we'll use ROE to better understand T-Mobile US, Inc. (NASDAQ:TMUS).
许多投资者仍在学习分析股票时的各种指标。本文为那些想要了解股东权益回报率(ROE)的人准备。为了保持课堂的实用性,我们将使用ROE来更好地理解T-Mobile US, Inc.(纳斯达克:TMUS)。
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.
股本回报率(ROE)是衡量公司如何有效地增长其价值和管理投资者资金的指标。简单来说,它衡量公司的盈利能力相对于股东权益的情况。
How Is ROE Calculated?
净资产收益率怎么计算?
The formula for ROE is:
roe的公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股东权益回报率 = 净利润(来自持续运营)÷ 股东权益
So, based on the above formula, the ROE for T-Mobile US is:
因此,根据上述公式,T-Mobile US的ROE为:
16% = US$10b ÷ US$64b (Based on the trailing twelve months to September 2024).
16% = 100亿美元 ÷ 640亿美元(基于截至2024年9月的过去十二个月)。
The 'return' refers to a company's earnings over the last year. One way to conceptualize this is that for each $1 of shareholders' capital it has, the company made $0.16 in profit.
“回报”是指公司在过去一年中的收益。可以这样理解:对于每1美元的股东资本,公司的利润为0.16美元。
Does T-Mobile US Have A Good ROE?
T-Mobile US的ROE好吗?
Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. If you look at the image below, you can see T-Mobile US has a similar ROE to the average in the Wireless Telecom industry classification (19%).
评估公司的ROE最简单的方法无疑是将其与行业的平均水平进行比较。 这种方法的局限性在于,有些公司虽然在同一行业分类中但彼此差异很大。 如果你查看下面的图片,你会看到T-Mobile US的ROE与无线电信行业分类的平均水平相似(19%)。
So while the ROE is not exceptional, at least its acceptable. Even if the ROE is respectable when compared to the industry, its worth checking if the firm's ROE is being aided by high debt levels. If a company takes on too much debt, it is at higher risk of defaulting on interest payments. You can see the 2 risks we have identified for T-Mobile US by visiting our risks dashboard for free on our platform here.
因此,尽管ROE并不特别优秀,但至少还是可以接受的。 即使与行业相比ROE还算可以,但值得检查一下公司的ROE是否受到高债务水平的影响。如果一家公司承担过多的债务,它就面临更高的未能支付利息的风险。 你可以查看我们为T-Mobile US确定的两种风险,免费访问我们的风险仪表板,点击这里就能在我们的平台上看到。
The Importance Of Debt To Return On Equity
债务对净资产收益率的重要性
Virtually all companies need money to invest in the business, to grow 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. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
几乎所有公司都需要资金来投资于业务,以实现利润增长。 投资的资金可以来自前年的利润(留存收益),发行新股,或者借款。在前两种情况下,ROE将反映这种资本使用来实现增长。 在后者情况下,所需的增长债务将提高回报,但不会影响股东权益。 这样使用债务就会提高ROE,即使业务的核心经济状况保持不变。
T-Mobile US' Debt And Its 16% ROE
T-Mobile US的债务和16%的ROE
T-Mobile US does use a high amount of debt to increase returns. It has a debt to equity ratio of 1.25. 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.
T-Mobile US确实使用大量债务来增加收益。它的债务与股本比率为1.25。虽然它的ROE很可观,但值得注意的是,通常公司可以使用的债务是有上限的。债务增加了风险,并减少了未来公司的选择,因此通常希望看到使用债务能带来良好的收益。
Conclusion
结论
Return on equity is one way we can compare its business quality of different companies. 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.
股东权益回报率是我们比较不同公司业务质量的一种方式。能够在不借太多债务的情况下实现高股东权益回报率的公司通常质量不错。如果两家公司有相同的ROE,我通常会更倾向于选择债务较少的那一家公司。
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 you might want to take a peek at this data-rich interactive graph of forecasts for the company.
话虽如此,尽管ROE是评估企业质量的有用指标,但要判断买入股票的正确价格,你还需要考虑一系列因素。利润增长率与股票价格中反映的预期相比特别重要。因此,你可能想看看这幅富含数据的公司预测交互式图表。
If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
如果你更愿意查看另一家公司——一家潜在的财务状况优秀的公司——那么一定不要错过这份有趣公司的免费列表,这些公司有高股本回报率和低负债。
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