Should You Be Worried About XPO, Inc.'s (NYSE:XPO) 9.3% Return On Equity?
Should You Be Worried About XPO, Inc.'s (NYSE:XPO) 9.3% Return On Equity?
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 XPO, Inc. (NYSE:XPO).
許多投資者仍在學習在分析股票時可能有用的各種指標。這篇文章是為那些想了解股本回報率(ROE)的人準備的。為了使課程立足於實踐，我們將使用ROE更好地理解XPO，Inc.(紐約證券交易所代碼：XPO)。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回報率(ROE)是用來評估公司管理層利用公司資本效率的關鍵指標。換句話說，它揭示了該公司成功地將股東投資轉化為利潤。
Check out our latest analysis for XPO
查看我們對XPO的最新分析
How Is ROE Calculated?
淨資產收益率是如何計算的？
ROE can be calculated by using the formula:
可使用以下公式計算淨資產收益率：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率=(持續經營的)淨利潤？股東權益
So, based on the above formula, the ROE for XPO is:
因此，根據上面的公式，XPO的ROE為：
9.3% = US$104m ÷ US$1.1b (Based on the trailing twelve months to June 2023).
9.3%=1.04億美元？11億美元(基於截至2023年6月的12個月的往績)。
The 'return' is the yearly profit. So, this means that for every $1 of its shareholder's investments, the company generates a profit of $0.09.
“回報”就是年度利潤。因此，這意味著股東每投資1美元，公司就會產生0.09美元的利潤。
Does XPO Have A Good ROE?
XPO的淨資產收益率好嗎？
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. As is clear from the image below, XPO has a lower ROE than the average (17%) in the Transportation industry.
可以說，評估公司淨資產收益率最簡單的方法是將其與所在行業的平均水準進行比較。這種方法的侷限性是，一些公司與其他公司有很大的不同，甚至在相同的行業分類中也是如此。如下圖所示，XPO的淨資產收益率(ROE)低於運輸業的平均水準(17%)。
That certainly isn't ideal. However, a low ROE is not always bad. If the company's debt levels are moderate to low, then there's still a chance that returns can be improved via the use of financial leverage. A company with high debt levels and low ROE is a combination we like to avoid given the risk involved. To know the 2 risks we have identified for XPO visit our risks dashboard for free.
這當然不是理想的情況。然而，較低的淨資產收益率並不總是壞事。如果公司的債務水準處於中低水準，那麼仍有機會通過使用財務槓桿來提高回報。考慮到涉及的風險，高債務水準和低ROE的公司是我們希望避免的組合。要了解我們為XPO確定的兩個風險，請免費訪問我們的風險儀錶板。
The Importance Of Debt To Return On Equity
債務對股本回報率的重要性
Virtually all companies need money to invest in the business, to grow profits. That cash can come from issuing shares, retained earnings, 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. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.
幾乎所有的公司都需要資金來投資於業務，以增加利潤。這些現金可以來自發行股票、留存收益或債務。在第一種和第二種選擇的情況下，淨資產收益率將反映現金用於增長的這種情況。在後一種情況下，用於增長的債務將提高回報，但不會影響總股本。因此，債務的使用可以提高淨資產收益率，儘管打個比方說，在暴風雨天氣的情況下會有額外的風險。
XPO's Debt And Its 9.3% ROE
XPO的債務及其9.3%的淨資產收益率
It's worth noting the high use of debt by XPO, leading to its debt to equity ratio of 2.07. The combination of a rather low ROE and significant use of debt is not particularly appealing. 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，XPO高度利用債務，導致其債務權益比為2.07。相當低的淨資產收益率和大量使用債務的組合並不是特別有吸引力。債務增加了風險，減少了公司未來的選擇，所以你通常希望看到使用它的一些良好回報。
Conclusion
結論
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. All else being equal, a higher ROE is better.
股本回報率是我們比較不同公司業務質量的一種方式。能夠在沒有太多債務的情況下實現高股本回報率的公司通常質量良好。在其他條件相同的情況下，淨資產收益率越高越好。
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. The rate at which profits are likely to grow, relative to the expectations of profit growth reflected in the current price, must be considered, too. So you might want to take a peek at this data-rich interactive graph of forecasts for the company.
話雖如此，雖然淨資產收益率是衡量業務質量的有用指標，但你必須考慮一系列因素，才能確定購買股票的合適價格。相對於當前價格反映的利潤增長預期，也必須考慮利潤可能增長的速度。因此，你可能想看看這張數據豐富的公司預測互動圖表。
Of course XPO 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.
當然了XPO可能不是最值得購買的股票那就是。所以你可能想看看這個免費其他擁有高ROE和低債務的公司的集合。
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對這篇文章有什麼反饋嗎？擔心內容嗎？ 保持聯繫直接與我們聯繫.或者，也可以給編輯組發電子郵件，地址是暗示Wallst.com。
本文由Simply Wall St.撰寫，具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論，我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議，也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意，我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.