Can CSG Systems International, Inc.'s (NASDAQ:CSGS) ROE Continue To Surpass The Industry Average?
Can CSG Systems International, Inc.'s (NASDAQ:CSGS) ROE Continue To Surpass The Industry Average?
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. By way of learning-by-doing, we'll look at ROE to gain a better understanding of CSG Systems International, Inc. (NASDAQ:CSGS).
雖然一些投資者已經精通財務指標(致敬),但本文是爲那些想了解股東權益回報率(roe)以及其重要性的人準備的。通過實踐學習,我們將研究roe,以更好地了解csg國際系統公司(nasdaq:csgs)。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股東應考慮的重要因素是淨資產收益率或roe,因爲它告訴他們投資的資本如何被有效地再投資。簡單來說,它用於評估公司與其股權資本相關的盈利能力。
How Is ROE Calculated?
淨資產收益率怎麼計算?
The formula for return on equity is:
權益回報率的計算公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤(從持續經營中獲得)÷ 股東權益
So, based on the above formula, the ROE for CSG Systems International is:
因此,根據上述公式,csg國際系統的roe爲:
24% = US$65m ÷ US$269m (Based on the trailing twelve months to March 2024).
24% = 6.5億美元÷ 26.9億美元(基於截至2024年3月的過去12個月)。
The 'return' is the yearly profit. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.24 in profit.
“回報”是年利潤。另一種思考方式是對於每美元的股權,公司可以賺取0.24美元的利潤。
Does CSG Systems International Have A Good Return On Equity?
CSG國際系統的股東權益回報率如何?
Arguably the easiest way to assess company's ROE is to compare it with the average in its industry. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. As is clear from the image below, CSG Systems International has a better ROE than the average (14%) in the Professional Services industry.
可以說,評估公司roe的最簡單方法是將其與行業平均值進行比較。但是,這種方法僅適用於粗略檢查,因爲同一行業分類中的公司差異很大。從下圖可以清楚地看出,CSG國際系統在專業服務行業中的roe優於平均水平(14%)。
![roe](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240607/0-8acd54e3ce2976daf91341ba37e23574-0-ab988c47cd0fb1c5f9a0248792108b96.png/big)
That's what we like to see. With that said, a high ROE doesn't always indicate high profitability. A higher proportion of debt in a company's capital structure may also result in a high ROE, where the high debt levels could be a huge risk .
這正是我們想要看到的。儘管如此,較高的roe並不總是表明公司盈利能力強。公司資本結構中較高比例的債務也可能導致高roe,其中高債務水平可能是巨大的風險。
How Does Debt Impact Return On Equity?
債務如何影響股東回報率?
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 first and second cases, the ROE will reflect this use of cash for investment in the business. In the latter case, the debt used for growth will improve returns, but won't affect the total equity. In this manner the use of debt will boost ROE, even though the core economics of the business stay the same.
公司通常需要投資資金來增加利潤。這些投資的資金可以來自前一年的利潤(保留收益),發行新股或借款。在前兩種情況下,roe將反映在企業中使用這些用於業務投資的資金。在後一種情況下,用於增長的債務將提高回報,但不會影響總股權。這樣,債務使用將提高roe,即使業務的基本經濟狀況保持不變。
CSG Systems International's Debt And Its 24% ROE
CSG國際系統的債務和其24%的roe
It's worth noting the high use of debt by CSG Systems International, leading to its debt to equity ratio of 2.01. There's no doubt the ROE is impressive, but it's worth keeping in mind that the metric could have been lower if the company were to reduce its debt. 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,CSG國際系統高額使用債務,導致其債務股本比爲2.01。毫無疑問,roe令人印象深刻,但值得記住的是,如果該公司減少債務,該指標可能會降低。投資者應仔細考慮公司如果無法輕易借款時的表現,因爲信貸市場隨着時間的推移而改變。
Conclusion
結論
Return on equity is a useful indicator of the ability of a business to generate profits and return them to shareholders. Companies that can achieve high returns on equity without too much debt are generally of good quality. 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.
股東權益回報率是衡量企業盈利能力並將利潤返還給股東的有效指標。沒有太多債務的公司能夠實現高回報率通常是高品質的。如果兩家公司的債務股本比大致相同,並且其中一家公司的roe更高,我通常會更喜歡roe更高的一家公司。
But ROE is just one piece of a bigger puzzle, since high quality businesses often trade on high multiples of earnings. 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.
但是,roe只是更重要的謎題的一部分,因爲高品質的企業通常以高倍數的盈利交易。考慮利潤增長率,與股票價格反映的預期相比,尤其重要。因此,您可能想要查看這個數據豐富的交互式預測圖表。
But note: CSG Systems 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:CSG國際系統可能不是最佳的購買股票。因此,查看此具有高roe和低債務的有趣公司的免費列表。
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這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。