Taking A Look At Matthews International Corporation's (NASDAQ:MATW) ROE
Taking A Look At Matthews International Corporation's (NASDAQ:MATW) ROE
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. We'll use ROE to examine Matthews International Corporation (NASDAQ:MATW), by way of a worked example.
儘管一些投資者已經精通財務指標(帽子提示),但本文適用於那些想了解股本回報率(ROE)及其重要性的人。舉一個有效的例子,我們將使用投資回報率來考察馬修斯國際公司(納斯達克股票代碼:MATW)。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
股本回報率或投資回報率是評估公司管理層利用公司資本的效率的關鍵衡量標準。換句話說,它是一種盈利比率,用於衡量公司股東提供的資本的回報率。
Check out our latest analysis for Matthews International
查看我們對 Matthews International 的最新分析
How To Calculate Return On Equity?
如何計算股本回報率?
The formula for return on equity is:
股本回報率的公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤(來自持續經營)¥股東權益
So, based on the above formula, the ROE for Matthews International is:
因此,根據上述公式,馬修斯國際的投資回報率爲:
7.5% = US$39m ÷ US$525m (Based on the trailing twelve months to September 2023).
7.5% = 3,900萬美元 ¥5.25億美元(基於截至2023年9月的過去十二個月)。
The 'return' refers to a company's earnings over the last year. That means that for every $1 worth of shareholders' equity, the company generated $0.07 in profit.
“回報” 是指公司去年的收益。這意味着,公司每獲得價值1美元的股東權益,就會產生0.07美元的利潤。
Does Matthews International Have A Good ROE?
馬修斯國際的投資回報率好嗎?
One simple way to determine if a company has a good return on equity is to compare it to the average for its industry. Importantly, this is far from a perfect measure, because companies differ significantly within the same industry classification. You can see in the graphic below that Matthews International has an ROE that is fairly close to the average for the Commercial Services industry (8.1%).
確定公司股本回報率是否不錯的一種簡單方法是將其與該行業的平均水平進行比較。重要的是,這遠非一個完美的衡量標準,因爲各公司在相同的行業分類中差異很大。你可以在下圖中看到,馬修斯國際的投資回報率與商業服務行業的平均水平(8.1%)相當接近。
![roe](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231219/0-8988c799d83ef721e8cdc164bbcc22fa-0-8b5f57aafc0027bdc6044d3a42e683c6.png/big)
That isn't amazing, but it is respectable. Although the ROE is similar to the industry, we should still perform further checks to see if the company's ROE is being boosted by high debt levels. If true, then it is more an indication of risk than the potential. To know the 3 risks we have identified for Matthews International visit our risks dashboard for free.
這並不奇怪,但值得尊敬。儘管投資回報率與行業相似,但我們仍應進行進一步檢查,看看高額債務水平是否提振了公司的投資回報率。如果屬實,則與其說是潛在風險,不如說是風險。要了解我們爲馬修斯國際確定的三種風險,請免費訪問我們的風險儀表板。
Why You Should Consider Debt When Looking At ROE
爲什麼在考慮投資回報率時應該考慮債務
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 required for growth will boost returns, but will not impact the shareholders' equity. Thus the use of debt can improve ROE, albeit along with extra risk in the case of stormy weather, metaphorically speaking.
公司通常需要投資資金來增加利潤。這些現金可以來自留存收益、發行新股(股權)或債務。對於第一和第二種選擇,投資回報率將反映現金用於增長的這種用途。在後一種情況下,增長所需的債務將提高回報,但不會影響股東權益。因此,使用債務可以提高投資回報率,儘管可以隱喻地說,暴風雨天氣會帶來額外的風險。
Matthews International's Debt And Its 7.5% ROE
馬修斯國際的債務及其7.5%的投資回報率
It's worth noting the high use of debt by Matthews International, leading to its debt to equity ratio of 1.49. Its ROE is quite low, even with the use of significant debt; that's not a good result, in our opinion. Debt does bring extra risk, so it's only really worthwhile when a company generates some decent returns from it.
值得注意的是,馬修斯國際大量使用債務,導致其債務權益比率爲1.49。即使使用了巨額債務,其投資回報率也相當低;在我們看來,這不是一個好結果。債務確實會帶來額外的風險,因此只有當公司從中獲得可觀的回報時,債務才是真正值得的。
Summary
摘要
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. A company that can achieve a high return on equity without debt could be considered a high quality business. All else being equal, a higher ROE is better.
股本回報率是衡量企業創造利潤並將其返還給股東的能力的有用指標。一家能夠在沒有債務的情況下實現高股本回報率的公司可以被視爲高質量的企業。在其他條件相同的情況下,投資回報率越高越好。
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 check this FREE visualization of analyst forecasts for the company.
但是,當企業質量很高時,市場通常會以反映這一點的價格出價。重要的是要考慮其他因素,例如未來的利潤增長以及未來需要多少投資。因此,您可能需要查看該公司的分析師預測的免費可視化。
But note: Matthews International may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
但請注意:馬修斯國際可能不是最值得購買的股票。因此,來看看這份投資回報率高、債務低的有趣公司的免費清單。
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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.
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。