Did Oceaneering International, Inc. (NYSE:OII) Use Debt To Deliver Its ROE Of 13%?
Did Oceaneering International, Inc. (NYSE:OII) Use Debt To Deliver Its ROE Of 13%?
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). By way of learning-by-doing, we'll look at ROE to gain a better understanding of Oceaneering International, Inc. (NYSE:OII).
許多投資者仍在學習分析股票時可能有用的各種指標。本文適用於那些想了解股本回報率(ROE)的人。通過邊幹邊學的方式,我們將研究投資回報率,以更好地了解海洋工程國際有限公司(紐約證券交易所代碼:OII)。
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或股本回報率是評估公司如何有效地從股東那裏獲得的投資回報的有用工具。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。
See our latest analysis for Oceaneering International
查看我們對國際海洋工程的最新分析
How Is ROE Calculated?
投資回報率是如何計算的?
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 Oceaneering International is:
因此,根據上述公式,國際海洋工程的投資回報率爲:
13% = US$76m ÷ US$572m (Based on the trailing twelve months to September 2023).
13% = 7600萬美元 ÷ 5.72億美元(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 $0.13 in profit.
“回報” 是指公司去年的收益。這意味着,每持有價值1美元的股東權益,公司就會產生0.13美元的利潤。
Does Oceaneering International Have A Good Return On Equity?
Oceaneering International有良好的股本回報率嗎?
By comparing a company's ROE with its industry average, we can get a quick measure of how good it is. The limitation of this approach is that some companies are quite different from others, even within the same industry classification. The image below shows that Oceaneering International has an ROE that is roughly in line with the Energy Services industry average (12%).
通過將公司的投資回報率與其行業平均水平進行比較,我們可以快速衡量其表現如何。這種方法的侷限性在於,有些公司與其他公司有很大不同,即使在相同的行業分類中也是如此。下圖顯示,國際海洋工程的投資回報率與能源服務行業的平均水平(12%)大致持平。
![roe](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240111/0-eba64d4558b0977a987962fdb111afab-0-01c2449d374636c166c0fdeada802a3b.png/big)
That isn't amazing, but it is respectable. 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 so, this increases its exposure to financial risk.
這並不奇怪,但值得尊敬。即使與行業相比,投資回報率可觀,也值得檢查一下公司的投資回報率是否受到高額債務水平的支撐。如果是這樣,這會增加其金融風險敞口。
How Does Debt Impact Return On Equity?
債務如何影響股本回報率?
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 debt used for growth will improve returns, but won't affect the total equity. That will make the ROE look better than if no debt was used.
公司通常需要投資資金來增加利潤。投資現金可以來自上一年的利潤(留存收益)、發行新股或借款。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,用於增長的債務將提高回報,但不會影響總資產。這將使投資回報率看起來比不使用債務時更好。
Oceaneering International's Debt And Its 13% ROE
Oceaneering International的債務及其13%的投資回報率
It's worth noting the high use of debt by Oceaneering International, leading to its 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. Investors should think carefully about how a company might perform if it was unable to borrow so easily, because credit markets do change over time.
值得注意的是,Oceaneering International大量使用債務,導致其債務權益比率爲1.22。儘管其投資回報率相當可觀,但該公司目前的債務額並不理想。投資者應該仔細考慮如果一家公司無法如此輕易地借款,其表現會如何,因爲信貸市場確實會隨着時間的推移而發生變化。
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 take a peek at this data-rich interactive graph of 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,你可能想看看這張數據豐富的交互式公司預測圖。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
當然,通過尋找其他地方,你可能會找到一筆不錯的投資。因此,來看看這份有趣的公司的免費清單吧。
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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提供基於歷史數據和分析師預測的評論,我們的文章並非旨在提供財務建議。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,我們的分析可能不會考慮最新的價格敏感型公司公告或定性材料。華爾街只是沒有持有上述任何股票的頭寸。